A process of marketing that uses an idea to increase the value of product is named as “Brand Management”. Branding is how your business looks i.e. how customers experience your brand and the way you interact with your customers. Effective Brand Management enables the price of product to go up and builds good customers through promotions. Essence, Attribute, Identity and Positioning are the four key factors in Branding. Branding makes Long term customers and a strong brand makes difference to your competitors.
Social Media is an important tool for reaching customers and doing marketing. Social media branding is a new world that companies have to implement to survive in the market. If customers react in negative way for certain marketing campaign then the brands reputation will get affected. It is a trick to handle negative comments on social media and this will be the main thing to make the Brand Name stable in any Business. Brand Managers should be aware on what is happening and they need to take necessary steps to maintain Brand management.
Examine everyday comparisons is an important Task in Social Media: what type of shoes would your brand be, what actor would play your brand. Exploring the “why” of these questions is where you discover the really good stuff. Once you have completed this for your company, repeat this exercise for your audience too. Having a visual of who is taking part in the conversations sets the stage for establishing all the key attributes for defining editorial tone and core values, design considerations and customer experience. It should influence every part of your companies marketing strategy, from online to print to face-to-face interactions.
It is worth taking the time to define how your brand “talks” on social media, how you interact with customers and fans and how you will respond to negative comments. Work with the leadership at your company to define these factors and write it all down. It sounds like a lot of work but it is worth it. Your brand will be more consistent across all channels, and you will be prepared to do effective damage control. Brand Management includes developing a promise, making that promise and maintaining that promise. The main aim of branding is to create Differentiation from Competitors.
Imagine that you are a Sales Guy for a Shoe Company. You were supposed to visit a small Village to sell your Companies product. After seeing everyone in Bare Foot, you may be happy that you can sell many shoes but it will be an important and also challenging job to teach those people about your shoes and convincing them to buy. This is where Brand Management arises. It will be an easy job for Sales guys to sell the product if the Brand is good and it will be very tough job for Sales Guy if the Brand is bad.