Most companies have some kind of brand and each organisation probably has a slightly different way of managing it.
Brand management and brand leadership
Previously, we have discussed the differences between brand management and brand leadership - the former being a more tactical, reactive response to competition in the market place whilst the latter is the more strategic approach towards developing brand equity.
Short Vs Long term reward
The key is delivering short-term reward at the expense of longer-term value. This will depend on how your company is run and what the short, medium and long-term objectives of the company are.
Brands can be a value force multiplier
Adopting a brand leadership approach invests in the long-term value of the brand. However, it also acts as a force multiplier and if understood, can multiply the valuation of your company’s assets.
4 points to remember
There are four key aspects to developing a strategic brand approach. The first is to develop an organisation and infrastructure capable of managing a brand as a strategic asset.
Who makes the brand decisions?
Ownership of the brand must rest at the highest level and must be aligned and considered alongside the corporate strategy. The management processes must be structured to incorporate and reflect the importance of the brand. All levels of decision-making should include the brand, with outcomes and benefits being evaluated against the brand strategic aims.
A brand must have a distinct architecture from which elements of the brand can be understood in context of their relative importance. This structure should include the main brand, sub brands and endorsements. The brand architecture should include the asset register and include a clear articulation of the roles of each component within the brand architecture.
Linked to the brand architecture is the brand identity. Many marketers will be more familiar with a brand guide that describes the current physical manifestation of the brand attributes. These will include logos, colours, design templates and strap lines. As well as the ‘rule book’ for design production, the brand identity should also include how the brand is to be positioned in the market place. This creates an understanding of the tactical employment of the physical assets within the brand.
Brands and campaigns
The last area that I have included is brand building programs or campaigns. These campaigns are accessing multiple media channels on a more frequent basis and should be a series of layered and highly targeted messages to specific audiences. These campaigns need to be interconnected and reflect both the current tactical expression of the brand and also contribute to the strategic aims of the brand.
How can this help?
These four simple organisational approaches towards ‘strategic brand management’ will help to differentiate the different functions of brand management from that of brand strategy. The two combined will deliver a brand leadership strategy that will achieve greater return on investment.