If you are a student and going through the discipline of management, you may wish for being a brand manager in the upcoming days. For this, you are compelled to know some strategies or policies those would help you for proffering popularity to your brand. The first thing that a brand manager should know is to market the brand or product so that people may get to know about this.
More than ever at any time before, this is the age of marketing. If you want to give your brand the right push in the best direction, and improve its prospects for success, you have to concentrate on the promotion aspect. However, you need to follow up the promotion with branding. When you think about branding your enterprise, you seem to focus simply on things like names, logos and websites. This is not all about establishing a brand, but building it in the right way in order to enjoy lasting benefits.
Ways for managing a brand:
- Prepare an engaging elevator pitch
No matter what the type of business, you need to market your brand. For this reason, you have to create an elevator pitch that is engaging. According to latest research, the attention span of a grown-up individual – on an average – is around 6 – 8 seconds. You have only this amount of time to catch the attention of some individual. By engaging them in a successful manner, you can get more success than you can expect from your brand. You have to invest some time into creating an elevator pitch that hooks your customers and ensures high returns on investment (ROI) for you. You can reap huge dividends and also explore new business opportunities.
With the recent economic turbulence, most businesses have become tighter with their branding and marketing budget. When consumers wish to opt for a product or service, they like to go for brands at the top of the heap. Social networking websites are undoubtedly one of the most economical and effectual ways to hook your customers and giving your brand the maximum visibility over the web.
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- Use your community effectively
When you think of management efforts, it is not necessary that you have to go big. You can concentrate on local marketing and find out the happenings within your community. For instance, you can be the sponsor of a charity football match or a local music festival. You can print bookmarks with your brand name and keep them for distribution at your local library. Find out all about the interests of your target consumer segment and think about the ways in which customers would pass their spare time.
You can collaborate along with a group of other companies not involved in competition with each other and agree on joint promotion or cross promotion. You can make use of social networking platforms, reciprocal website links, fliers or coupons to do the job. Collaboration along with other non-competitive companies will enable you to make your consumer base grow, and get access to new customers.
- Spend time in networking
It is also necessary to network as much as possible. The more you network, the more you will be able to build a business. It is more than going out into social venues, meeting people and shaking hands with them. You need to be committed about your networking efforts and build a robust network, online as well as offline, which can provide your business with a lot of advantage.
You should not shy away from giving a speech now and then. Many business owners hate to speak out in public. But there are lots of companies who recruit qualified experts who can pick ideal subjects to present to their target consumer group, as well as able speakers to present it properly. As long as the audience can benefit from your information and it is relevant for them, it would be useful to give a speech. Even if you do not have the ability to speak yourself, you can hire a speaker to do the job on behalf of your company. It will place you as a capable authority in the domain.
- Generate enough buzz
Technology has changed much of the work that is involved in marketing management. Even if you are a startup or small business owner, you can generate lots of buzz without hiring professional agencies. You can use social media websites, create smartphone apps related to your business, and create your own website and more. You may also respond to the queries of reporters who are on the lookout for new resources and story ideas. While some of these can provide you with small-scale media platforms, you can find major platforms in others by using this type of service.
A great way to create positive buzz about a business is to hand out coupons. Research has proved that many businesses have reaped a lot of benefits by using coupons, and the method can be highly successful in making your client base grow. With coupons, you can also ensure return visits to your store. For instance, when you offer discount coupon to a new customer, there is a good chance that he will come back.
- Create lasting relationships with customers
It is much less economical to retain a customer than getting a new one. This is exactly the reason why it is important to create a strong relationship with your client that will last.
- This can be done by creating an email campaign. You should ensure that communications from your end are assistive and informative, so that consumers would look forward to them.
- By using the social media platforms, you can keep the line of communication open.
When you have managed to get loyal and satisfied customers you should not hesitate to ask for referrals. Most consumers state that they are willing to offer referrals if so requested, and only a few of them actually do this on their own unless asked. With referrals, new customers can easily be bagged. You will end up missing a lot of new clients without expenses, if you do not ask for referrals.