STRATEGIC CONSULTING ON SAFE, EFFECTIVE, SUSTAINABLE BRAND RISK MANAGEMENT FOR THE FUTURE
WHAT IS BRAND RISK?
In the process of building and developing a brand, businesses cannot avoid risks that can potentially cause damage to the brand, whether they come from subjective or objective factors.
Brand risks are understood as incidents and uncertain factors beyond the control of brand managers. These risks can hinder brand management activities, leading to certain losses for the brand and the business.
In building & developing a brand, brand managers only focus on performing activities pure brand building strategy will easily encounter risks during the implementation process due to uncertain factors from inside and outside. This is a mistake that many businesses in Vietnam often make in the process of brand management and have to pay a very high price with the reputation of the brand.
BRAND RISKS THAT BUSINESSES MAY ENCOUNTER
Risks in the Brand Design Process
The business’s brand does not convey the right message, or is misleading to the target customers, causing unnecessary confusion. The brand identity is not unified when developed, and is not registered for protection in the market.
Risks due to cultural, political, legal and social factors
Anyone familiar with economic, financial, and brand risk management understands that political, cultural, and social change factors are a macroeconomic factor that directly affects markets in general, and brands in particular. Whether unintended or intended, political, legal, cultural, and social associations have a clear effect of diluting and risking a brand’s reputation.
Risks in Brand Identity Management
Businesses that are not capable of managing brand characteristics cause inconsistent elements that harm the business and conflict in conveying messages to the community and society.
Risks in Brand Asset Management
Businesses lose their own distinct values and have no advantage over competitors in the market. In the long run, brand assets will be worn out and degraded.
Risks in brand promotion activities
With the development of digital advertising, brand managers have less and less control over the advertising landscape, but instead consumers. Businesses face the risk of media crises, image tarnishing, loss of reputation in the market, negatively affecting the brand, which can directly push the company to the brink of bankruptcy.
Risks in brand extension activities
Under pressure to drive revenue, companies have become addicted to opportunities to expand their brand portfolios through mergers and acquisitions, new product introductions, and product line extensions. How new brands are integrated into existing ecosystems—what is known as brand architecture strategy—is often more ad hoc than strategic and planned. These ad hoc architectures can be high-risk, and managers often underestimate them. But many miscalculations result in both the existing brand being weakened, the inherent characteristics of the business being fragmented, and the new brand architecture failing.
Let ADSMO lead your business to success on the 4.0 platform
Building a brand risk management strategy will provide businesses with options to avoid uncertain factors and situations that lead to risks, proactively control and respond to situations to minimize negative impacts and damage to the business. The role of a brand risk management strategy is listed as follows:
Avoid wasting investment budget
Brand risk management can predict the costs incurred in the process of building and developing a brand. Through this, businesses will eliminate and limit waste in marketing and branding investment activities.
Strengthen brand management
Brand risk management will provide information, forecast risks for managers and quickly propose optimal solutions. Businesses will quickly control brand risks, minimizing negative losses affecting the business.
Effective tool in brand development
Brand risk management strategy will help businesses increase the success rate of projects and ensure brand value for the business. Brand risk management aims to control and protect brand value, is a useful support tool to promote business, increase revenue and profit according to sustainable development strategy.
Helping businesses achieve their goals
Risks will make it difficult for businesses to achieve their goals. However, if businesses proactively establish and forecast risks, they will develop preventive and response measures to help achieve the company's goals.
Attracting corporate investors
If a business manages brand risks effectively and resolves issues, it demonstrates the company’s capacity and professionalism. This creates trust to attract investors and partners to cooperate with the business.
Enhance brand value and image
Protecting the brand, predicting risks will be an advantage for the business reputation to be positively evaluated, increasing customer loyalty. Therefore, the brand value is promoted to a higher level than the original value, the business image is highly appreciated.
WHY CHOOSE ADSMO TO BUILD A BRAND RISK MANAGEMENT STRATEGY?
Adsmo is a prestigious provider of Digital Marketing solutions and consulting on building and developing brands in Vietnam. We are proud to be a business that accompanies customers on the path to successful brand development. The company has applied modern marketing technologies and platforms to solutions to bring the best brand risk management solutions for businesses.
At Adsmo, brand management experts and marketers will advise on risk management strategies and forecast potential risks to help businesses avoid unnecessary damage. Risk management strategies are built from fluctuations in the business environment, trends, customer needs, and changes within the business. At the same time, timely response measures are proposed, crisis handling is successful, and brand reputation is protected.
We establish in-depth risk management plans from real data, assessing objective and subjective factors affecting the business. This helps brands avoid potential risks, limit losses in brand assets, and create a premise to enhance strong business value in the market.
HOW DOES ADSMO HELP BUSINESSES MANAGE BRAND RISK?
- Develop communication plans and raise brand awareness among internal, customer and partner stakeholders from an economic and psychological perspective
- Develop a brand protection plan and establish measures against external brand infringement.
- Establish plans and measures to combat brand decline from within the business
- Establish measures to identify risks and prevent risks in the process of building and developing a brand.
- Develop and prepare plans to handle media crises, change attitudes and behaviors of customers and consumers.
