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.