The Importance of Brand Management
In the internet era, the virtual marketplace has become the primary forum for brands to build equity and trust with their customers.
Brand management ensures that companies effectively communicate with their customers and build customer lifetime value (CLTV) through longer lasting relationships. Effective communication means sending a cohesive message to target customers and ensuring that external influences do not mislead the conversation. Customers, critics, competitors, and anonymous users are willing and able to publicize unauthorized, defamatory, and negative connotations of brands on third-party and social networking websites. The result is often commoditization of the product or service in the customer’s mind, and weakened CLTV.
A recent study by Fleishman-Hillard indicated in a survey sample that 89% of consumers use search engines as predestination to making purchasing decisions. Whether on a laptop, smartphone, or tablet, the study indicates that consumers have become more influenced by their search engine results than the opinions of relatives and friends.
It is imperative that companies utilize technology to manage their brands online, and gain a competitive advantage in their industry. Companies that are able to identify, remediate and report on violations of brand standards on search engines, social networking, and unaffiliated websites are better suited to improve customer equity, and manage their customer relationships effectively.
To learn more about IntegriShield’s online brand management services, call (816) 994-1313 or contact Jeremy Wassmer at email@example.com today.