Presentation on theme: "BrandAmplitude®, LLC All Rights Reserved 2008 Everything you need to define a brand in one place Updated 5.10.08."— Presentation transcript:
BrandAmplitude®, LLC All Rights Reserved 2008 Everything you need to define a brand in one place Updated
BrandAmplitude®, LLC All Rights Reserved Why A Brand Strategy Toolkit? Only one fourth of marketing and advertising professionals "...can clearly articulate (their) company's brand position to... clients, customers or prospective clients.“ (2) Strong brands never happen by accident. Yet only 53% of firms say they have a long term brand strategy in place.(1) (1)Prophet, Best Practices Survey, 2002 (2)Louws Management Corporation Survey, 2007 Often, what is missing is a shared set of tools for creating and implementing an effective brand strategy.
BrandAmplitude®, LLC All Rights Reserved What is Brand Strategy? A brand strategy is simply a plan for developing a coherent brand. It provides the means for systematically creating differentiation and consumer appeal by empowering better brand decisions across the organization. “There is no tool better than the brand for uniting the forces and the stakeholders inside and around your company.” “There is no tool better than the brand for uniting the forces and the stakeholders inside and around your company.” Thomas Gad, 4-D Branding: Cracking the Corporate Code of the Network Economy, 2001 “The role of brands has evolved; brands are now company DNA, the spark from which all corporate life grows.” Will Murray, Brand Storm: A Tale of Passion, Betrayal, and Revenge, 2001 “...ideally, the brand will make black and white decisions not just at the top of the house, but also all the way down the line.” David F. D’Allesandro, Brand Warfare: 10 Rules for Building the Killer Brand, 2001 An effective brand strategy influences the total operation of a business to ensure consistent brand experiences for the customer.
BrandAmplitude®, LLC All Rights Reserved Brand Strategy and Marketing Strategy Brand Strategy is separate from the marketing mix. It guides and inform decisions about product strategy, placement, promotion and pricing. I. Corporate Objectives & Brand Portfolio II. Marketing Objectives III. Brand Strategy Communications Strategy Product and Pricing Strategy Channel and Distribution Strategy IV. Marketing Execution & Monitoring Strategic Marketing Process Brand strategy is an integral part of the overall strategic marketing process. It bridges the gap between business strategy, marketing objectives and marketing strategy.
BrandAmplitude®, LLC All Rights Reserved Brand Strategy Process Target & Insight Brand Execution Brand Elements Competitive Assessment Brand Inventory Equity Pyramid Positioning Objectives & Metrics Personality Communications Strategy Brand Experience Map Brand Strategy Brand Audit CRM & Community Building Points of Parity and Difference The process of creating a brand strategy begins with a brand audit and ends with a plan for executing the brand across all touch points
BrandAmplitude®, LLC All Rights Reserved Brand Audit Target & Insight Competitive Assessment Brand Inventory Brand Audit Points of Parity and Difference
BrandAmplitude®, LLC All Rights Reserved Target Matrix Current Brand Users Competitive Brand Users Category non-users Lapsed Users/Rejectors Size/Profile Decision Criteria or Motivators Usage Behavior Decision Process Barriers/Concerns Key Influences Brand Importance Role of price Satisfaction The target matrix helps ensure the brand focuses on the customers and prospects that offer the greatest potential for increased revenue and profitability.
BrandAmplitude®, LLC All Rights Reserved Example Target Matrix: Wine Drinkers Enthusiasts Variety Seekers Infrequent Regulars TouristsOne-timers Size/Profile 12%20%16%14%23% Decision Criteria or Motivators Quality, optimize the drinking experience High price and sophisticated image Well-known winery label Sensible choice, feel comfortable Personal attention & reassurance Barriers/ Concerns Avoid mistakes that can spoil the experience Not sure what I want Avoid risk Avoid feeling foolish Confused by wine Key Influences Wine authoritiesPopularityBrand name Promotional offers Store Personnel Alternatives High MediumLow Target importance to Kavaklıdere HighMedium Low
BrandAmplitude®, LLC All Rights Reserved Target Insight Where to Find Insights A target insight describes how a meaningful connection can be established between what the brand offers and the target’s explicit or implicit needs. Trends Motivations/”Sweet spots” Decision-making process/criteria Higher level benefits Image/Identity gaps New Segments Unmet needs Ethnographic research & ‘shop alongs’ Online communities Social media listening & ‘netnographies’ Crowdsourcing and co-creation Consumer panels Neuro-marketing Customer service
BrandAmplitude®, LLC All Rights Reserved Target Insight: Wine Enthusiasts Enthusiasts are passionate about the entire wine experience. They enjoy researching what to buy and enjoying wine with friends and family. They like the whole culture of food, wine and knowing how to get the most out of the experience. “So much variety to try. I like to look at labels but I also like to look at “Şarap Dünyası”. I really like to entertain, tasting wine with friends. It’s the best experience.”
BrandAmplitude®, LLC All Rights Reserved Target Insight: Dove "90% of women are not happy with the way they look," and they are frustrated with the way beauty is portrayed in our society.
BrandAmplitude®, LLC All Rights Reserved 2008 Competitive Assessment Competitive assessment describes the customers’ perceived consideration set of alternatives and the brand’s advantages and disadvantages within that set. 12 Tex Mex İzmir Competitors Steak houses, and high end chains that offer good food in an unpretentious setting. Tex Mex has no direct Mexican cuisine competitors outside of İzmir, and very few within İzmir.
BrandAmplitude®, LLC All Rights Reserved Points of Parity and Difference Brand Strengths Consumer Needs Competitor Strengths Our PODs Potential Brand Differences POPs Points of Parity (Category Benefits) Vulnerabilities Their PODs Wants and Needs a POD’s analysis is to identify what ideas from our brand and competitive brands are most meaningful and potentially differentiating. The purpose of a POP’s analysis is to identify which category benefits are critical for establishing credibility.
BrandAmplitude®, LLC All Rights Reserved 2008 Points of Parity and Difference: Hardware Brand Strengths Consumer Needs Competitor Strengths Hardware Store Potential Points of Difference Knowledgeable Assistance Feeling empowered/confident Feeling valued, important to Westlake Ace Hardware Store Points of Parity Selection – meets requirements - satisfies Cost efficient Time efficient Vulnerabilities Wide and deep selection enables choices Customer Needs Minimize time and effort Feeling good about the quality of the job
BrandAmplitude®, LLC All Rights Reserved Brand Inventory Heritage/Historical Positionings (existing products) Brand Identity logos, icons or symbols Secondary associations Gaps between identity and image Organizational strengths Brand Values/Vision Product performance claims, proprietary technology/patents Third-party ratings or endorsements Where to Find Assets or Gaps A brand inventory identifies existing or potential assets that can be leveraged or gaps that need to be addressed to build or create sustainable points of differentiation.
BrandAmplitude®, LLC All Rights Reserved Brand Inventory: Blockbuster Brand Imagery “Corporate” “Well-known” “Familiar” “Comfortable” “Institution” “Dinosaur” “Old” “Dull” Familiar Comfortable Solid Selection of movies EntertainingFamily Fun ExperienceConvenienceEnjoyment Relaxation Blockbuster (a movie house) is relatively ‘faceless’, with no strong personality, either positive or negative. Its own customers think of it as big and corporate.
BrandAmplitude®, LLC All Rights Reserved Brand Strategy Equity Pyramid Positioning Objectives & Metrics Personality Brand Strategy
BrandAmplitude®, LLC All Rights Reserved Brand Pyramid Resonance Consumer Judgments Consumer Feelings Brand Imagery Brand Performance Salience The brand equity pyramid outlines the basic building blocks of what the brand should stand for – brand vision, brand positioning, and brand personality and brand measurement. Identity Relationship Response Meaning Brand Equity Pyramid
BrandAmplitude®, LLC All Rights Reserved Example Brand Pyramid: Kavaklıdere Egeo Resonance The wine I’m proud to share. Consumer Judgments Quality wine Authentic, genuine Consumer Feelings Confident, Discerning, savvy Brand Imagery Accessible, not snooty wine for discerning wine lovers. Brand Performance Soul not overridden by process. Salience Kavaklıdere is a high quality wine everyone can enjoy. Identity Relationship Response Meaning Brand Equity Pyramid
BrandAmplitude®, LLC All Rights Reserved Brand Positioning Statement A brand positioning statement describes how the brand will communicate with a specific target group to create a sustainable competitive advantage. For (Target), (Brand/Company) is the only/best (consumer frame of reference) that (statement of key benefit or guiding value), because/by (reason to believe, key credibility point). Evaluation Criteria: Brand Fit, Customer Relevance, Uniqueness, Sustainability, Credibility
BrandAmplitude®, LLC All Rights Reserved 2008 Positioning Example: DeWalt 21 To the tradesman who uses his power tools to make a living and cannot afford downtime on the job, DeWalt professional power tools are more dependable than other brands of professional power tools because 1)they are engineered to the brand’s historic high-quality standards 2)they are backed by Black & Decker’s extensive service network and guarantee to repair or replace any tools within 48 hours.
BrandAmplitude®, LLC All Rights Reserved Brand Personality Brand personality describes how a brand behaves --- what it does and how it does it – so that the brand always acts consistent with its values. Brand personality enhances target appeal and provide further differentiation. What Brand IS: What Brand IS NOT: The FIVE CORE DIMENSIONS OF PERSONALITY Sincerity (down to earth, honest, real, wholesome, cheerful) Excitement (daring, trendy, spirited, cool, imaginative, up- to-date) Competence (reliable, intelligent, successful, leader, confident) Sophistication (upper class, charming, glamourous, good looking) Ruggedness (outdoorsy, tough, masculine)
BrandAmplitude®, LLC All Rights Reserved 2008 What Tex Mex is: Friendly Fun Sophisticated & Contemporary Spirited Authentic What Tex Mex is NOT: Fancy Traditional Pretentious or stuffy Take itself too seriously Brand Personality: Tex Mex
BrandAmplitude®, LLC All Rights Reserved Brand Execution Brand Elements Communications Strategy Brand Experience Map CRM & Community Building
BrandAmplitude®, LLC All Rights Reserved Brand Elements Brand Name Brand Logos and Icons Colors Symbols Music/Earcons Celebrities or Personalities Advertising slogans and jingles Brand Alliances/Secondary Associations Co-branding Licensing Sponsorship Event Marketing Celebrity Endorsement Third-party Endorsements
BrandAmplitude®, LLC All Rights Reserved 2008 Brand Experience Delivery A brand experience map describes the points of interaction that influence customer behavior and brand perceptions through the customer lifecycle. It helps identify and prioritize high-impact customer touch points, sometimes called ‘moments of truth’. Customer Initiated Web Store Customer Service Company-Initiated Signage Advertising CRMUnexpected Third party endorsements Word of mouth News Intrinsic (Use) In the store At home
BrandAmplitude®, LLC All Rights Reserved Often, the most effective way to connect customers to the brand is to connect them to each other. ‘Brand communities’ help define user image and distinguish brand users as part of a special group. Community building tools Social networks Blogs Refer a friend Product ratings Live chat Events Panels and surveys Community Building
BrandAmplitude®, LLC All Rights Reserved 2008 Conclusion Powerful brands built over time through careful strategic management. A clear brand strategy is essential for creating, building and sustaining a powerful brand. Brand strategy requires knowledge of customers’ current understanding of the brand, and a vision of how that understanding needs to evolve in order to meet business goals. 28 “A brand is a customer’s understanding about a product, service, or company. It’s not what you say it is, but what THEY say it is.” --Marty Neumeier, author, “Zag”
BrandAmplitude®, LLC All Rights Reserved 2008 Brand Resources Brand Strategy “Strategic Brand Management” (3 rd Ed.) by Kevin Lane Keller “A New Brand World” by Scott Bedbury “The Brand Gap” by Marty Neumeier “The Culting of Brands” by Douglas Atkin “Building the Brand Driven Business” by Scott M. Davis and Michael Dunn Brand Experience “The Culting of Brands” "The Experience Economy: Work is Theatre" by James Gilmore “Managing The Customer Experience” by Shaun Smith and Joe Wheeler “Uncommon Practice” by Andy Milligan and Shaun Smith “The Disney Way” “The Nordstrom Way” “The Starbucks Experience” “A Piece of the Pie: The Story of Customer Service at Publix” “The New Gold Standard (Ritz Carlton)” 29