Why Brand Management Is Important
When initially setting up a business – whether it be a small company with a few employees, or a large-scale corporate entity – there is an aspect that often gets pushed to the side until the business is well underway: brand management. Maintaining the reputation of your brand and company in the public sphere is a vital component of promoting your business, and ensuring that your reputation remains positive.
The strategies behind brand management have changed exponentially over the past few decades – once upon a time, a business would simply require a small marketing team or agency to deal with newspaper ads, billboard advertising, and general word of mouth. But since the Internet came on the scene and online presence is almost certainly the key to a productive business, brand management has become more difficult and intricate – not only must those managing the brand consider the traditional forms of advertising, but they have the internet to contend with – which, while it can be an extremely positive place to advertise and get the word out if it is used correctly, it can also be very detrimental to your business. Bad reviews on sites like Yelp or Urbanspoon can instantly decrease revenue and customer loyalty, a lacking social media strategy can be the difference between a highly successful business and a mediocre one, and negative comments (whether they be true or false) from customers on social media can often lead to a company’s decline.
It is integral that your company implements a brand management strategy, or employs an agency or firm to do so. Strategists can not only ensure that you are reaching your target market in a positive sense, they can also ensure you gain a broader scope, and that your brand is seen as primarily positive both on and offline. It’s tricky to know how to deal with bad reviews online, or negative social media chatter, but strategists know exactly how to deal with it. PR disasters, Twitter emergencies and lacking online presences are all taken care of when your brand is appropriately managed. The power of the Internet and social media means that brand reputation management can’t be simply glossed over or ignored – if you want your company to thrive in a highly competitive environment, whether your business be big or small, you need to ensure your brand management strategy is sound. Reconsider your brand reputation management strategy today, and get your business on the right track to having a positive presence.
Chloe works on behalf of The Right Group, an Australian management consultancy specialising in brand management, strategy, researh, and employee productivity.