Like most occupations that are needed by large corporations, brand management can bring in an astonishing amount of money for those managers that prove to be successful at what they do. There is a lot of money to be earned by people with the talent to manage a successful brand. If you need proof of this, just take a look at the fact that the Bureau of Labor Statistics estimate that brand marketing managers pull in a comfortable $120,070 on average. Even those on the low end of the totals were able to earn a comfortable $55,720 per year.*
*According to the BLS, http://www.bls.gov/oco/
If the salary isn’t enough to interest people in a career in brand management, the perks of the job can be the deciding factor. Brand managers get paid leave as well as medical and dental benefits, but they’re also treated to handsome travel packages, high class connections, and corporate credit cards.
Job Description and Outlook
The rewards of being a brand manager are great, but that’s partly because of the enormous stress that comes with the territory. Brand managers work in marketing, one of the most exhausting departments of any corporation. When put in charge of a brand, it’s your responsibility to ensure that the brand name remains strong and profitable. This is sometimes called brand P & L (Profit and loss). You’re also responsible for the image of the brand and how well the brand competes in the overall market in which it falls.
Market research is one of the most important ways to ensure a successful brand and brand managers can expect to do plenty of market research and analyze the behavior of customers in a way to maximize profit while spending the least amount of money possible. As a brand manager, the brand is yours; the customers that fuel the brand are the people that you must appeal to and learn well enough to ensure success for the brand that your customers love. Brands need to be highly visible and it’s your job to make sure that the brand you control stays as visible as possible.
Brand managers must work alongside many people, sometimes large groups of people, so it’s important to have sharp communication skills and be willing to compromise as well as know when to take a stand when you believe strongly about something. It’s necessary to know a bit of psychology in order to know just how to provide leadership while at the same time allowing others to do their job and contribute the most they can to a brand’s success. This delicate juggling act takes a lot of people skills from brand managers.
Brand managers are also required to be creative and be updated with latest marketing trends as the job also involves coordinating events, marketing projects and advertisement campaigns for their brands or products.
As a branch manager, you can expect to give extensive reports to your superiors about the way you’ve handled the brand and how well the brand is doing in relation to competitors.
Training and Education Requirements
Many different subjects combine together to form a blueprint for branch managers. There is no one subject that can be pinpointed. Advertising, market research, accounting, and marketing strategy are all integral parts of brand management.
Since there is no degree for “brand management,” it’s necessary to obtain a degree in general business, most often with a marketing specialization. General business degrees will touch upon all of the important facets of the brand management occupation, including financing, accounting, consumer behavior, communication, and marketing theories and practices.
Experience counts when applying for a job as a brand manager. Education is important too. There are no specific certifications for brand managers, but be sure that most employers demand a bachelor’s degree and often four years of experience in brand management. An MBA will help in securing the position as well.
When beginning a career in this field, you might start out as a brand assistant. This gives you the opportunity to learn about brand management from people that are more experienced and can provide you with a perfect background for one day becoming a brand manager. When you start as an assistant, there’s always a possibility that you can be promoted to a product or brand manager.
No brand manager is required to join a professional organization to keep up with the times, but the majority of brand managers join an organization without any prompting from an outside source. Getting ahead as a branch manager depends a good deal on knowledge and staying up to date with strategies. Brand managers can join an organization called Association of Product Marketing and Management (AIPMM). You can even become certified through these organizations, though it’s not mandatory to secure employment.
When brand managers join such an organization, they’re able to show employers that they are committed to their duties as a brand manager and that they are more knowledgeable than those without such memberships. With such lucrative salaries, brand management is an extremely competitive field and belonging to professional associations such as the AIPMM helps brand managers show an extra dedication to the career that employers appreciate.
Most popular business careers:
- Business Administration
- Business Manager
- Claims Adjuster
- Human Resources
- Project Manager