After your brand is launched it requires periodic maintenance and assurance so that it stays on top of your competitors and gives you good return on investment (ROI).
A brand is not a stagnant entity. A brand always lives in the minds of your customers if its good or bad, which means brand retention. You don’t really own it. This calls for action periodically which normally is ignored, in order to maintain the desired brand retention you want from your customers and prospects to have of you, you must constantly evaluate, promote, and manage the brand overtime. For example, if you don’t maintain your car periodically with the oil and filter change, in the long run, it will surely put you down on the road when you are least expected.
This can be achieved by market research to understand where your brand is now placed among your competitors and the upcoming business entities in the market, as well as research to understand your target markets shifting likes and dislikes, wants, needs, and overall outlook of your brand.
You need to constantly look for these key points, which will grant your brand an extra leverage over your competitors
- Brand Awareness – This will help your brand over competitors when making purchasing decisions like (deciding over a new electronic appliance).
- Brand Loyalty – Your brand advocates, who will promote your brand indirectly.
- Brand promise – Quality and assurance.