Post on 12-Jul-2015
transcript
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Today we would love to talk about the role of Digital in building a ‘Human Brand’
Here are some thoughts we’ll delve deeper in...
1. What’s the opportunity with digital to build relationships?
2. The science behind its efficacy
3. Some cases to demonstrate the above
All relationships need to be earned.
What’s the opportunity with digital to build relationships?
● Its an opportunity to interact.● Its an opportunity to share a story.
Continuously.● Its an opportunity to collaborate and co-
create
So how does this make a brand human?
Here’s our first attempt at defining a human brand...
It is Transparent
It is Communicative
It is Collaborative
It is Caring
And so it is Human.
The science behind its efficacy - why do we think it works? For tangible business results.
Introducing the idea of Warmth and Competence
What earns you the relationship?
Warmth + Competence
What are his intentions towards me?... defined as warmth
How capable is he of carrying out those intentions towards me?...defined as competence
We continue to make these judgements... in fact more than 80% of
all our judgements are based on warmth & competence...This
relationship extends to brands too.
Would you like to share with us some examples of brands you believe are warm?
Brands that exhibit both warmth & competence inspire trust & admiration that
motivates us to have a continuing relationship with the brand.
How do you build warmth in a relationship?We believe it is Empathy
Let's look at a brand that seems to be trying...
Case Study: Umpqua Bank
“We build our stores around interactions, not transactions.”
Lani Hayward, Umpqua Bank
Tellers hand out a chocolate with each cash withdrawal
Prominently displayed at everybranch is a phone which connects
directly to the desk of Ray Davis,The bank’s president
If he is at his desk, he answers. Typically, he says, the caller just
wants to know if the line is genuine.
Most customers hate the idea of stepping into a bank branch. It makes them feel frustrated. An experience they’d rather
avoid.
Umpqua’s answer to that question has been make its branches look and feel more like “neighborhood stores,” thanks to elements
like “catalyst walls” (interactive touchscreen displays that highlight products and services), “refresh bars” that allow customers to grab a cup of the bank’
s proprietary coffee blend or Smith Tea and local products — such as bonsai trees, bikes, pottery and even skateboards — that are on display
and available for purchase.
Many of the bank’s many brick-and-mortar locations host community and civic events
ranging from speed-dating mixers for single to wine tastings and yoga classes. It’s also found
success in certain cities with what Hayward calls its
“Catalyst Series” of speakers,presentations and workshops –
an exclusive series of seminars the bank hosts in its branches
In the early 1990s, it had only six branches. Its biggest expansion came in April, when it doubled in size by acquiring Sterling, a
regional rival.
Today, Umpqua Bank has 364 branches spread across Washington, Oregon, California, Nevada and Idaho
The bank’s appeal also allows it to pay a little less interest than the norm on deposits, and charge a bit more on loans, giving it high
lending margins
Hence we understand that building a human brand has clear business
advantage
Lets look at the opportunity this has for Search Engine Optimizers and Marketers.
How is this relevant to your work?
1. We understand that the key objective you work towards is to build more prominence / awareness for your brands online.
2. We also understand that the current methodology one would use would be based on content optimization and distribution.
Lets explore how we can achieve the same task in a “Human Way”
The Human interpretation of the optimizers value chain.
Build Traffic - Great Content - Great Experience - Deep Customer Understanding.
A great experience translates to the following:
1. Self sustained spread. Once you reach out to your audience they self propagate your brand further.
2. Third party links that are so dear to Google. 3. A fix to the problem of content plugging and discovery. Its your
real story.
Lets share with you another example
Case Study 2: Panera Bread
Panera Bread is a chain of bakery-café fast casual
restaurants in the United States and Canada
Offerings include soups, salads, pasta, sandwiches,
and bakery items.
Revenue (2013): $2.4 billion with $843 million gross profit
39.8% CAGR
Stock price has gained over 190% in the past 5 years & it rose even
during recession!!
What do you think is the reason behind this phenomenal growth?
Panera put it as "Panera’s financial performance has historically benefited from strategic investments, particularly
investments that directly support the customer experience"
In other words a genuine warmth towards the customer helps Panera clock in some
impressive numbers. Panera calls it 'Panera Warmth'
And it is driven by a concept essence
into which every employee is initiated
How is this warmth being exhibited to the consumer: A couple of stories:
“The world still has some great people in it-will make sure I visit Panera soon and give them some business”
How are customers reacting?
Do you notice Advocacy? Loyalty?
Some learning to share...
Digital is only a medium
Empathize with your customer first.
Play for the long term: Relationships are based on trust. Work to earn trust not a sale
Do everything you do keeping at heart the relationship.
Stay Consistent and true to your purpose: What do you stand for?
Communicate the warmth you're sharing
Let's take a break...
And then its over to you...
We would love for you to apply what we spoke about today to your brand and
share with us your thoughts.
Some Tools and Techniques to help you build a Human Brand
1. Active Listening: Empathy + Action
2. Social Media Conversation: Empathy + Personalization + Empowerment
3. Building your story: Personality + tone + attitude + themes
Thanks for taking this Journey with us
We would to answer any queries you might have.
Thank You