Brand management: Why methods should suit the digital age
Enoch Antwi
Digital marketing brand management is the catalyst that projects our business plans and asserts our presence even in a hostile business environment.
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Brand management is a collaborative marketing technique that tries to increase the value of a brand over a targeted period. Marketers develop innovative strategic plans to create brand awareness, connect with the customers and sell their products or services.
They create positive brand associations, build loyal customers, and maintain brand value in target markets. By implementing brand innovation and effective brand management, businesses can enhance their reputation. So brand management methods must change and develop to suit emerging market trends in the digital marketing age.
Studies show changes in consumer buying behaviour
The number and kinds of consumers that engage with a brand has changed over the years. Almost six years ago, in 2009, McKinsey did a survey to understand the “Consumer Decision Journey” (CDJ).
After studying the purchase decision of around 20,000 consumers across several industry verticals, the study concluded that consumers decide more interactively when making buying decisions. Their overall purchase decision and customer journey include a few essential stages.
It is important to create strategic brand management techniques to become competitive in the market
Consumers consider a couple of brands, evaluate them, buy one and enjoy, advocate for the brand if satisfied and bond with the brand in the end. Therefore, to attain consumer loyalty and engagement, you will need to have excellent products and distribution networks while maintaining an extensive online presence.
Shifting to online brand management is essential
During this period of digitization and innovative marketing, managing a brand has to be targeted or else brands and brand products will lose in the competition. As you work on technology growth, brand innovation and management, you’ll give your businesses a competitive edge. All top brands have already recognized the importance of online presence and thus are taking immediate measures.
Successful brands are managing their brand values, corporate image and brand image effectively online. They are reaching a lot more customers with targeted advertising messages. Those with online stores are cashing in at a steady pace. Company delivery services or third party despatches are helping customers get their products easily. Customers are buying more at ease online without the hassle of spending time in a brick and mortar store.
Why some brands shifted to online brand management
Dominos in Australia: Dominos had a terrible time during 2008 in Australia. Customers complained about their food quality. Their revenue was declining. But the company took this seriously and undertook extensive customer research to launch a whole new set of recipes. Besides that, they also revamped their online presence. Dominos launched mobile apps and started taking 50 percent off from online orders. In addition, they also created a pizza tracker for customers. With this, customers can track pizza orders.
Under Armour: It’s an American sports clothing and accessories company. They bought MyFitnessPal and Endomondo’s fitness apps to get access to their vast digital community. The company established mobile network integration. They use these apps and this network to promote their brand, surge new launches and create better consumer engagement.
National Geographic: National Geographic has shifted from print media to digital media. After experiencing a massive downturn in business, they restructured their brand management strategies to have a vast online presence via the internet. They recruited Amy Maniatis as a CMO to oversee their social media presence. Under her guidance, National Geographic could drive Facebook fans to over 20,646,799 and Instagram followers to 4,091,738, which has widened their consumer reach and engagement. In addition, they have created excellent consumer engagement via the online distribution of photographs, videos and success stories.
The truth is, brand value and brand management have changed. It is more about making a better online presence. As a marketer, you’ve to understand that the old ways of marketing and brand management are not sustainable. Instead, develop strategic techniques for managing your digital marketing brand to become competitive in your niche. Innovate with business philosophies that will bring residual income to your business.
Enoch Antwi
Enoch Antwi is the managing editor at The Business Frontal. He worked as a business and an environmental journalist in the late 1990s with the Business and Financial Times. His passion is to provide on-demand valuable information and insights on business, entrepreneurship, leadership, innovative technologies, and principles for corporate success in today's business world.
