What is Brand Management?
Brand management is a marketing function that employs methods and strategies to improve a brand or product’s perceived value over time. Effective brand management helps you build loyal customer relations and enables you to increase product prices through positive brand associations and strong brand awareness. It fuels the overall company profits.
To develop a strategic brand management system and manage your brand equity, you must clearly understand the brand, target market, and company’s vision and objectives.
Why is Brand Management Essential for Your Business?
Brand management differentiates you from your competitors. When you differentiate yourself from competitors and maintain consistency in all communications, you can successfully create and maintain your brand.
Regardless of your brand’s size, age, or the industry it belongs to, brand management is key to continued success. The five main reasons are:
- You must possess a brand to maintain and manage
The two main phases in brand management are establishing a brand and maintaining it. Much effort in brand management is dedicated to maintaining, but without a strong brand, you cannot sustain. Every organization must define the USP internally and communicate externally in the brand messaging.
- Customers must be aware of your brand to consume your products and services
In brand management, brand awareness is the critical component. For potential customers to be aware of your brand, you must promote it through marketing efforts. All marketing messages should focus on brand awareness while considering your USP.
- Be aware of where your customers are located and what they expect to attract and retain them
It is equally important for your customers to be aware of your brand, and you know where they are located and what they expect. For effective brand management, brand managers must know their target market and its purchasing habits. Based on this awareness, they tailor the promotion patterns to meet potential customers.
- Consistency in brand
Brands should maintain consistency in their tone and feel in every aspect of promotion. For example, packaging, pricing, quality, marketing patterns are consistent whenever your customer interacts with your brand. When your brand management is effective, you will ensure that your brand is communicating clearly and reliably across all platforms and channels.
- Maintenance is a continuous process in brand management
When you build a brand, you must continuously maintain it. Logos, taglines, and editorial messaging must adhere to brand guidelines. You should consistently deliver a similar brand feel in all your marketing platforms.
You can leverage Unbxd PIM to integrate with your DAM so that you can centralize, organize, transform, and distribute the product information to multiple channels with reduced complexity and no manual effort.
Brand Management with Open-Source Digital Asset Management
Digital asset management (DAM) is software designed to centralize the process of storing and managing digital content. DAM increases campaign productivity and ensures brand consistency.
An open-source DAM tool lets you customize or extend beyond the features offered by the vendor. Open-source DAM solutions give teams better control over how users store and manage digital data than the proprietary DAM solutions. This feature provides maximum agility to the management systems in the creative process.
Digital Asset Management allows you to:
- Create, organize, access, review, control, monitor, and maintain branded digital assets
- Greater customization and scalability
- Easily distribute company content across digital channels: CMS, social media, and more
- Access and share files with anyone, any time, anywhere, and on any device
- Create and collaborate on digital assets in one place
- Eliminate inaccuracies and inconsistencies
- Meet all necessary standards and branding guidelines
- Provide a user-friendly platform and central repository to your teams
- Prevent duplication of digital content
To take brand management to the next level, you can link your PIM and DAM system to create an optimal balance between product information and related marketing content.
Unbxd PIM is a powerful PIM tool that helps you to enrich product data information and increase sales and brand value.
- Brand management is a marketing function that uses methods and strategies to increase a product’s brand value over time.
- Digital asset management (DAM) is software designed to centralize the process of storing and managing digital content.
- Open-source DAM offers better customization and extensibility compared to proprietary systems.
- DAM gives you benefits such as preventing duplication, creating and collaborating digital assets in one place, easily distributing content across channels, meeting necessary standards and guidelines, eliminating inaccuracies and inconsistencies, accessing and sharing files anytime with everyone and anywhere, on a user-friendly platform.
- Integrating your DAM with PIM allows you to have efficient marketing, achieve consistency, real-time data, improve business intelligence and customer personalization, and achieve more in less time.
- You can leverage Unbxd PIM to integrate with your DAM for better product data management.