exclusively written for overproof.com By Harmony Bax
The alcohol industry needs to maintain its momentum as the US goes through its largest volume gain in two decades. Total alcohol consumption rose by 2 percent last year — the biggest increase that the industry has experienced since 2002. This growth is attributed to growing consumer demand, stemming from factors like flavor variety as well as convenience. Similarly, you can experience growth in sales by establishing yourself as a brand that can meet the demands of the consumers. Here’s how you can drive customer sales through data-driven brand management.
What is brand management?
Brand management is crucial in driving sales because it increases the target market’s awareness of your brand. This is an important marketing strategy that aims to establish a positive brand association and image among consumers. Through proper brand management, your product can gain a good reputation and boost existing customer retention.
However, doing this can be difficult in the fast-paced alcohol industry. As such, your company needs to adopt and utilize technologies like database programs to stay in control of your brand. These programs will enable your company to make data-driven decisions that can maintain or even improve your consumers’ awareness and perception of your brand. However, to maximize such programs, you first need to understand the integral role of data in brand management.
How can data help in alcohol brand management?
Data is your key to successful alcohol brand management. The insights you can gain from data are critical in establishing and maintaining your reputation as a good brand.
To illustrate, database programs allow you access to accurate information provided by customers and third-party businesses. Through these programs, you can gain insight into your target market’s preferences. You can then use this information to create a brand that’s more aligned with consumer demand. For instance, if your target market wants premium champagne, then you can establish yourself as a luxury brand by creating logos, campaigns, and events based on the consumers’ perception of luxury.
Furthermore, you can manage your brand by monitoring customer interaction data. Case in point: the Columbia Business School and Engineering School partnered with alcohol advertising and marketing company 3×3 Insights to collect data and gain insights for greater sales. Their data revealed that festive wine buyers prefer purchasing premium wines. As such, you can manage your premium wine brand’s reputation by releasing luxurious, limited-edition wine products and by monitoring product sales during the holiday season.
How can companies manage their brand through data?
Brand management cannot be done without the right information and the right professionals. You need to start by collecting data from your target market. As previously mentioned, you can use database platforms to access customer data from other services. Alternatively, you can gather information through data collection programs like Tastings, a platform for alcohol brand managers to plan and schedule off-premise sampling events that are executed by talent using the Tastings app. The mobile app enables talent to capture activation data in real-time and provides the information brand managers need to gauge program success. Ultimately, this allows you to improve your brand by collecting consumer data, providing information about your product performance, and monitoring competitor activity.
However, data cannot be utilized if you don’t have the right professionals in your team. Professionals with an advanced background in data analytics can help manage your brand by extracting insights from customer data. Through their expertise in database tools, these professionals can help you make data-driven decisions and identify opportunities to solidify your brand. These data experts can also work with alcohol brand ambassadors in developing ideas to raise brand awareness. As representatives of the brand, these ambassadors need to have an established reputation in the wine and spirits industry as well as knowledge of marketing principles. Through their skills and knowledge, they can use the data analysts’ insights and recommendations to raise brand awareness while engaging with consumers.
Brand management is crucial in capturing the attention and loyalty of your consumers. If you want to establish a reputable brand, your company needs to invest in the right resources to harness useful data and reap the benefits. While it isn’t always feasible to have an in-house data team, businesses can still leverage data through the use of digital tools, such as Overproof’s AI-driven tracking platforms. With it, you can plan, execute, and track your progress while also acquiring valuable business insights. This makes Overproof an excellent tool for data collection and successful brand management.
FAQs on Alcohol Brand Management
How can you brand alcohol products?
The branding of your alcohol product needs to depend on the market preference. For instance, beer consumers prefer an approachable and social brand, so you can design a lively logo or launch an interactive brand campaign. Meanwhile, the branding for wine products will rely on the taste and lifestyle elements of the target market.
How can you market alcohol brands?
To implement brand management, you need to leverage different platforms. For instance, social media is the primary means of establishing an alcohol brand for a target market. But on top of that, you also need to implement website and content marketing strategies to improve brand awareness and increase product sales.
How can social media brands promote alcohol?
You can promote alcohol brands on social media by actively engaging with your consumers. Another great promotion strategy is to provide sneak peeks into the production process, since this effectively drives website traffic. Furthermore, you can promote relevant events that feature or discuss your brand.
Who is the leading company when it comes to alcohol advertising?
This depends on the alcohol type. For instance, Absolut Vodka is the leading spirit brand that is most popular on social media. The brand is highly interactive on social media platforms. Plus, they maximize Instagram Live to offer cocktail-making classes and other informative content.