“What is a Brand?” is an interesting question. It’s interesting because, depending on who you ask, you’ll often get different answers. It can be confusing. This is because the question is often misinterpreted, therefore, so are the answers. Properly understanding a brand plays a critical role in the success of your business. So then, let’s clear up the answer, address how to manage a brand, and discuss the influence a brand will have on sales.
What is a brand?
In the business hierarchy, the responsibility of a brand’s success commonly falls under the marketing team, and while they may spearhead its management, a brand’s success will be limited if the rest of a company is not actively involved. This is because a brand extends beyond logos, slogans, colors, and other marketing elements. A brand is your company’s reputation and the essence of what it represents. And while those marketing elements play an important part in defining and wielding the brand, a brand’s success is ultimately the result of your customer’s psychological and emotional connections with your company. The interesting thing is that these brand connections exist only in their minds. Therefore, each touchpoint your company has with your customers through your products, customer service, or the marketing and technology connections you employ creates an impression, positive or negative. In total, these impressions forge the reputation or big idea that establishes your brand.
How to effectively manage a brand.
It’s easy to see why a brand can be a lot to manage. So, then how do you manage it properly? The answer is, by synchronizing the quality of your message, values, and service. Take the sport of rowing, for example. In order to succeed in the race, each member of the rowing team must consistently work together and be in sync. It takes great strength and endurance. If one team member becomes off pace from another, then the synchronization becomes off and the team will struggle to efficiently advance. A brand is no different. To manage a brand, all areas of your company should be in sync and consistently work to adhere to the message, values, and services you have chosen to embody.
What are the benefits of a well-managed brand?
The benefits of properly managing your brand has far-reaching effects. It influences your sales and, ultimately, the success of your business. For instance, customers needing to feel they are buying a quality product from a reputable source will do so by having an outstanding experience with an employee or customer service representative. This is where your brand comes into play. Proper brand management elevates your product to more than just a sum of its parts. Remember, a brand is the psychological and emotional connection a customer has with your company. For many people, buying a car is just that, a psychological and emotional experience. It’s exciting, but also a big investment. Customers do their homework because they want to make the right decision for their purchase, but their decision is based on more than just product features. Customers want to love their new car and feel confident in it. After all, when you buy a new car, you excitedly show it off to your friends and family. They congratulate you on the purchase. It’s almost like a new addition to your family.
In summary, when a customer feels confident in your brand, they’ll choose your dealership and feel confident in their purchase. When you’ve provided them with a quality product and a consistent brand experience beginning with your initial marketing efforts and culminating in outstanding service, you’ve succeeded in properly managing your brand.
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