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Successful brand management has the potential to significantly increase your company value and create customer loyalty. This article will give you the ins and outs of brand management in a corporate setting, show you how it’s different from managing the brand of just any company, share what the three biggest risks in brand management for corporates are, and how to turn those risks into a competitive advantage.
What you will learn from this blog:
Brand management for corporates is different from building a brand. It’s making sure that your brand is communicated consistently by all your stakeholders; your employees, customers, shareholders, and others. It’s making sure that your brand is clear, that branded content follows your guidelines, and that there are no stretched logos or inappropriate imagery associated with your brand.
When we look for information on brand management for corporates, we usually get results on something else, like creating a brand strategy, crafting messaging for your brand, or establishing the right target audience. These types of activities are what we refer to as ‘building a brand’. Very important to tackle when you are starting a new brand or breathing life into an old one but nailing your brand early on doesn’t necessarily make it successful.
Brand management is complicated for corporates because it's a part of your company's DNA. It's your story, your product, and your people. It's how your customers perceive you and why shareholders believe in you. Branding is not just one department that controls what your logo looks like and defines what your official company colors are. It should be the embodiment of why your company exists.
Branding has been democratized through digital transformation. It's easy for everyone to share their stories and content about your brand. But corporates are struggling to harness this opportunity. They are experiencing more inconsistencies, pressure to scale on-brand content without scaling their costs, and difficulties in communicating their relevance to their target audience.
Top brands win over customers who make repeat purchases not because they have a superior product but because they have a superior brand. They embody something that inspires advocacy and loyalty. And they do so all the time, everywhere. Not just in some regions or via some of their channels. In order to rise to this level, all your stakeholders need to become connected with your brand.
Companies and brands of different sizes battle with very different issues. A small brand or a company that’s just starting out will focus their limited resources on creating trust and awareness in their target audience, whereas corporates have a stability-focus when it comes to brand management. Not to say that creating trust and awareness aren’t important to all companies, but the bigger issues for corporate brands are elsewhere. Here are the most pressing priorities that corporates face in brand management:
The obvious difference between corporates and other companies is the number of employees and other partners, distributors and agencies. There are thousands of them. One of the most important goals of branding is to resonate with all the stakeholders, to make sure that everyone is working towards the same goal (purpose, mission, etc.). But the more people you have involved with your brand, the more complex and inconsistent the messaging gets.
Do you think all your employees, advocates, and partners know your brand guidelines or how to use your tone of voice, for example? These are just two of the many variables that are at the core of your brand’s communication. If your stakeholders aren’t using your brand like was intended, there will be misunderstandings, lack of interest, and confusion, internally and externally. But is it really that important for all your people to portray your brand the same way? Turns out, it is. Your brand is why you attract customers.
According to Millward Brown Optimor’s analysis, a company’s product or service (tangible assets) accounts for just 30 to 40 percent of a company’s total value. The rest is intangible value, and about half of that intangible portion, close to 30 percent of total business value, is attributed to brands. If the brand’s essence is diluted, it will get less recognition, less customer loyalty, lower company value.
To sidestep the problem of too many cooks in the kitchen, corporates need to manage their stakeholders better. They need to minimize the opportunity for human errors when it comes to branding. Brand knowledge and communication needs to be made easier.
A topic closely related to connecting all your stakeholders to your brand: brand consistency in a corporate. Brand consistency means that all your ducks are in a row. Your images are the same style and quality, your videos and infographics reflect your brand, all your teams are representing the company in a way that evokes trust, continuity, and familiarity in your customers and target audience.
For examples of cases where corporates got consistency right and when they failed horribly, check out these examples.
The third component that’s constantly under scrutiny by corporate brands is efficiency. Brand management involves a lot of back and forth, checking for errors, coordinating, managing mishaps and PR blunders, planning for product launches, evaluating, answering questions, and training. A big part of this work is not efficient and risks human error.
Most corporates have invested in tools that help with collaboration and workflows. But most of these tools are siloed and used by only the branding and marketing teams, and only for some aspects of these multifaceted branding issues. Do you have a tool at hand that gives access to all your stakeholders (also externals) for images, videos, and other files, but only the ones that are relevant and appropriate for them? Does that same tool also help make your content more streamlined and easy to share and create? Does it integrate with your existing marketing, branding, and sales software?
If you answered yes to these questions, congratulations! It sounds like you have a Brand Management Solution in place. For those who don’t know what that is, let’s have a look at how these solutions help corporate brands.
A Brand Management Solution is a tool to make all aspects of your corporate brand management easier, faster, and better. It’s been designed to not be a spot solution (though it can be used that way) but to tackle very complex problems that corporates face when dealing with brand management. To put it simply, Brand Management Solutions make sharing, creating, controlling and publishing all your brand’s materials easy, consistent and efficient.
Lytho has been awarded the title of the most innovative and user-friendliest Brand Management Solution in the market. We can assist you in all aspects of brand management, from managing your stakeholders and making your brand consistent to helping your all your brand and marketing operations be more efficient.
Here are some of the problems Lytho has helped their corporate customers, like KLM, DAF, and Segway with when it comes to collaboration, consistency, and efficiency:
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