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#ChiaExplains #Brand24 #Branding
What is brand management? Proactive vs. Reactive Brand Management Strategies
00:00 Introduction
00:18 What is brand management?
00:36 Why do you need brand management?
01:25 Brand Management Strategy (Watch my episode on the Welcome to Growth podcast and listen to me stumble upon "brand management" and forget how to talk to people http://welcometogrowth.com/18)
02:15 Part One of Brand Management: How to Review Your Brand
03:25 How to be more “proactive” in brand management (We explain the basics in our free course: “Online Reputation Management Guide” https://bit.ly/40-Guide-to- Online- Reputation Management)
04:24 How to be more “reactive” in brand management.
Creator and animator: Chia-Luen Lee
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Brand management is a process that begins by looking at how a brand is perceived by the public, then takes all that information, that intelligence, and uses it to build a good brand reputation within the target market.
And it's also very important for your sales, because when a brand is managed very well, the brand value increases, which means your brand loyalty also increases — and a strong brand can even carry your product. For example, take the famous Pepsi Challenge. Over the past decade, Coca Cola's market share increased from 17.3% to 17.8%, while Pepsi's market share fell from 10.3% to 8.4%. However, in a series of blind taste tests conducted by Pepsi, the results suggested that consumers actually preferred the taste of Pepsi, even though most of them were buying Coke. This is why brand management is so important, because having a strong brand can definitely influence purchasing decisions and increase your sales in the long run.
So how do you manage the brand? Or what is a good brand management strategy? You know, I don't want to get off topic (but I do have a story) — I was recently on this podcast hosted by a few guys who work in tech and e-commerce (it's Johnathan and Dillon from Welcome to Growth) and we were talking about, among other things, brand management. So, of course, the question “how do you approach brand management?” arrived. Now, I had this perfectly clever explanation here (point to head) but for the life of me I could barely get anything coherent out here (point to mouth)… it was pure stage fright. audio! These guys were really nice — I think I just forgot how to interact with people on all levels after the last few months… yeah… (sorry, guys)… so I'm going to enjoy this opportunity to try to redeem myself, by explaining what a brand management strategy looks like here:
So, because you want to start by looking at public perception of your brand, this makes awareness a key part of brand management — NOT to be confused with "brand awareness" , which is generally about how people can recognize and remember your brand. . Here I mean your awareness of how the public sees your brand.
And it all starts with data collection. So for brand management, this means you want to collect all kinds of comments and opinions that people express about your brand. And again, unlike brand awareness, which focuses on the number of those opinions, brand management is concerned with context, because that's exactly what shows you how a brand is perceived.
Looking at context is something you should do anyway, because it answers a lot of questions: It shows you where your brand is doing a really good job of eliciting good feelings and positive feelings from the audience… and it also shows you where it might be located. rub people the wrong way and cause them to develop a negative feeling towards him. That’s why this part of brand management – the simple act of gathering all the data and then looking at the context around it – is really essential to your strategy. Without this information, it's difficult to know where you need to make improvements.
Now, considering the fact that you can't really control how people will ultimately respond to your brand, you can only do your best to plan and implement a good…
…more tips in the video!
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