Why Brand Management is Vital
An organization’s brand is simply their identity. The brand incorporates the reputation, the visual logo, and the messaging of the organization. Marketing professionals, public relations professionals and other members of the team must uphold the standards, messaging and reputation of their businesses. For decades, corporations and businesses focused their brand efforts strictly on advertising, promotions, and in their corporate communications. Today, however, their approach includes more intricate pieces. Any brand management strategy must include management of the brand’s reputation. The value of a well-established brand can be responsible for as much as 80% of an organization’s revenue; this is true for both for profit businesses and nonprofit organizations. Since revenue is directly linked to a profitable and positive brand reputation, it is essential that businesses take their reputation online and offline seriously while working to counteract any negative publicity in traditional media forms and negative reviews and comments in the online world.
Brand development is a strategic process which is focused on improving the public reputation of a business and ultimately generating greater brand loyalty. Brand development involves a persistent approach by businesses to gain market awareness over their competitors. New businesses that are working to develop a brand today must include all traditional media outlets including print advertising, broadcast advertising, and a proactive publicity campaign. Brand development must have a comprehensive online component that includes social media platforms including Twitter, Facebook, YouTube, Google+ among other platforms in addition to online advertising and comprehensive and proactive outreach campaigns to build a recognizable brand reputation. Successful executives understand that the most valuable asset of their business is the brand, with employees coming in second. The value of a brand can be demonstrated by the value of large reputable businesses that are sold for hundreds of millions. These businesses may not necessarily have products or services that greatly differ from their competition. They have a higher evaluation because of their positive reputation, loyal followers, and customers who reorganize and appreciate their brand.
A Brand Is Not Just About A Tagline And A Logo
A business’s tagline and logo functions as the visual representation of a brand within the marketplace; nevertheless, a brand is so much more than just a public image. It is the overall identity of the business that includes business practices, investor relations, sales team messaging, and the reputation of the business. Because of this, businesses must take into consideration their reputation both online and offline. Public relations professionals for decades have worked to raise the profile and reputation of businesses through proactive communications and activities including press conferences, press releases, and other activities. Today, businesses need to consider their online reputation as vital to their success. On the internet anyone can post anything about anyone, it is crucial to manage your brand’s reputation online through a comprehensive brand reputation management program. This type of program can help ensure that your brand is healthy in the dynamic online world.
Managing Negative Feedback And Brand Management Online
Since anyone, from anywhere, can post anything they like online, reputation management can be a challenge. While some disgruntled customers are common, significant amounts of negative reviews, comments and information can severely harm a business’s brand reputation. There is also a growing trend in which competitors are unethically launching online smear campaigns to purposefully harm the reputation of their competition. They can do this in a variety of ways, but it typically involves the creation of erroneous personas that focus on posting negative information and negative reviews in blogs, forums, comment and review sites, on social media platforms, among other tactics. Brand reputation management programs need to have an online search component. Online reputation management companies have the tactics and processes in place and they troll the web twenty-four hours a day for negative information about their clients. Once negative information is found, it can be remedied in a number of ways.
Using Brand Reputation Management Companies
Brand reputation management companies locate and then mitigate negative information found online. In some cases, these companies will send requests to the owner of the websites that have negative information, comments and reviews to have the information received or they may take a legal approach and take the website owner or the poster to court to have the information removed. Other strategies for repairing a business’s online reputation include directly answering and trying to solve the issues, as well as proactive brand building measures including the development of endorsements from customers, vendors and investors. These online reputation management companies work with their clients to develop the best solutions to rebuild and fix a harmed brand reputation. Any number of tactics can be employed to ensure that the brand is still the most valuable asset of the corporation.