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Successful Brand Management – How to build a strong brand

For startups it is particularly important to establish themselves as a brand early on. This is because effective brand management is often the key to success for young companies. Long-term survival of startups is only possible if they reach and appeal to their target customers. What sounds logical, however, is not easy to implement.

What is a brand?

A brand embodies the characteristics that make up a product and reflects a company’s philosophy to the outside world. Companies with strong brands have a higher number of and more loyal customers. But how can startups build a strong brand? The answer to this question is brand management. The purpose of brand management is to promote awareness of companies and their products as well as to build strong, recognizable brands.

Define a target image for your brand

While Apple is seen by most people as a brand for high-end computers and smartphones, Huawei embodies a low-cost alternative for electrical appliances. Both brands are extremely successful but have completely different characteristics and target groups. Do you want your company to become as well known as Apple or Huawei? Then you need to ask yourself what your brand should stand for and which target customers you intend to address. Do you want to inspire young people with a modern product? Or are you planning on attracting older people as customers through classic elegance? Either way, you first need to know what your brand should embody and who it should appeal to before you can start to promote it. The first step of successful brand management, therefore, is to create a target image for your brand.

Make your brand known

Once you know what you want your brand to look like, it is time to promote it. You should pay special attention to choosing distribution channels which will allow you to reach your target customers. Only if you succeed in reaching your target group, you can increase the awareness of your company or product. While older generations mainly consume newspapers and TV shows, younger people respond primarily to ads on social media. However, not only the chosen delivery channel is relevant, but also the way you promote your brand. While luxury watches are primarily advertised through glossy images, it is more beneficial for sports products to get a well-known athlete as a brand face. Whatever advertising strategy you choose, it should fit your brand.

Learn to accept setbacks

Good brand management involves not only quality sales strategies, but also quantitatively measurable goals. Whether you are comparing product sales figures or conducting an annual brand recognition survey, it’s important to measure the success of your promotional efforts. If a strategy has no impact, you will not only miss out on customers, but also waste valuable resources. Most likely, not all your promotional efforts will be a success. But that is not a bad thing. At least not if you can recognize ineffective strategies and change course in time.

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