What is brand management? Proactive vs. Reactive brand management strategy | #ChiaExplains

So how can you be more proactive and
reactive in brand management? Find out inside the video! Hey guys, it's Chia from Brand24 and i
guess it's kind of been a minute, right? Well, I really hope that everybody
is healthy and safe and just in a good place right now wherever you
are… so, yes, life has been pretty insane but it is time to get back to it!
And we are going to start with brand management…

So this is a process that
begins by examining how a brand is perceived by the public
and then it takes all of these insights that intelligence, and uses this to build a good brand reputation within the target
market… and it's it's actually really important to your
sales, too, because when a brand is very well managed, the brand equity increases which means that your brand loyalty also increases…
and a strong brand can even carry your product. So, for example, take the famous Pepsi Challenge: now, over the last decade,
Coca-Cola's market share has risen from 17.3% to 17.8% while Pepsi's market share has dropped from 10.3% to 8.4%. However, in a series of blind taste tests conducted by Pepsi, the results suggested that consumers actually prefer the taste of Pepsi even though most of them were still buying coke.

So this is why brand management is so
important, because having a strong brand is something that
can definitely influence purchasing decisions and
increase your sales in the long run. So, how do you do brand management or what is a good brand management strategy? So, you know, I don't want to get
too far off track but i do have a story! So, I recently went on this podcast
hosted by a couple of guys who work in tech and e-commerce — that's Johnathan and Dillon from "Welcome to Growth" and we were talking about, of all things brand management. So, of course, the question, "so Chia, how do you approach brand management?" comes up. Now I had this totally smart explanation in
here but, for the life of me, I could barely
get anything coherent to just come out here…

It was pure
audio stage fright! These guys were really nice… I think I've
just forgotten how to interact with people on any level after
these past few months Yeah, sorry, guys… so I'm going to take
this chance to try to redeem myself by examining what a brand management strategy looks like here. So because you want to start by examining the public perception of your brand, this makes awareness a key part of brand
management — not to be confused with "brand awareness", which is generally about
how well people can recognize and recall your brand.

Here, I mean your awareness about how the public sees your brand… and this all starts with collecting data. So, for brand management,
this means that you want to collect all kinds of feedback and opinions that
people are expressing about your brand and, again, unlike brand awareness, which
is focused on the number of those opinions, brand
management looks at context because this is exactly what shows you how a
brand is perceived. Now, looking at context is something you
should be doing anyway because it answers a ton of questions. Like, it shows
you where your brand is doing a really good job at eliciting positive feelings and positive sentiment from the public
and it shows you where it might be, just, kind of rubbing people the wrong way and
causing them to develop some negative sentiment toward it… so that's why this part of brand management — just gathering all the data
and then looking at the context around it — is really essential to your strategy.
Without all these insights, it's hard to know where you need to make improvements. So, now, considering the fact that you can't really control how people will ultimately react to your brand, you can
only do your best to, like plan out and implement a good branding
strategy.

This makes monitoring various sources of media the
most proactive action that you can take in terms of brand management, because
it shows you how people are responding to those strategies, which lets you stay
ahead of any potential issues before they can damage your reputation. We actually have a free class on media monitoring for reputation
management that goes a little more into detail on that topic
and I'm going to put a link to that in the Video Description
section below. So, that generally sums up the first part
of brand management just getting the lay of the land and
because the landscape is something that can just change and shift depending on factors like the content you put out,
your advertising or any changes to your product, this all makes the data something that you want to monitor on a regular
basis. So, now, let's say that you've done some
analysis and you find that there's a really big gap between the way that you want people to see your brand versus how they actually
perceive it. Then it's the brand manager's job to
react and try to fix that.

So, that is the reactive part of brand
management and every solution is going to be a little bit different because every problem and every brand is different. It really
depends on the data, like if the feedback shows that there's an
aspect of your branding that really doesn't resonate well with your audience
then you might need to just rethink your
entire branding strategy altogether or if the feedback reveals that certain
aspects of your product is not meeting customer expectations then you'd want to
talk to your product or service team to see how you could improve the user experience.

And the data could also point
to a number of other things too, like controversial influencers that you're working with, or PR
issues related to politics, health or religion… the actions that your brand
manager takes to try to steer the brand back on track
depends entirely on the data Alright, so, I think that is all I
have for today So, it feels like a lot but I probably
forgot something… … probably… but that is what next week is
for! Alright, thank you guys, it's really good to be back and I will see you later,
bye! Alright, so, if you have any questions or comments, just let me know in the
Comments section below and if you feel like you learned
anything helpful in this video, feel free to like, share and subscribe to our channel Alright, that's it for today, guys, thank
you so much for watching all the way to the end (what?)! Alright, so,
I'll see you next time, thanks again Bye!

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