Date post: | 22-Nov-2014 |
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Branding for Business Success
Your competitive edge for profit maximization
Ed BurghardRetired P&G Harley Procter Marketer
OBDC Executive Director
BA – State University of New York @ Potsdam in Mathematics
MBA – Syracuse University in Innovation Management and Marketing
Retired Procter & Gamble Harley Procter Marketer
33years in Procter & Gamble
Member of the Association of Ohio Commodores
Past Board Member Arthritis Foundation
Past Marketing Committee Member Dan Beard Council BSA
Founder & CEO The Burghard Group LLC
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Agenda
• What is a brand?
• How do I build one?
• How do I use it?
• Can I really afford one?
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What is a Brand?
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You Need to Make a Promise
A brand is a promise. It sets an expectation of what a consumer can expect if he/she invests in your product or service.
Branding is making certain your promise is realized across a complex delivery system.
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Examples
• Ritz Carlton - Courteous service• BMW - Exciting driving experience• Apple - Cool innovation• Volvo - Safety• FedEx - Reliable overnight delivery• Avis - Extra effort• Las Vegas - Fun without guilt• Wal-Mart - Great value
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What Makes a Great Promise?
• Relevant
• Competitive
• Authentic
• Simple & Clear
• Benefit Focused
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How Do I Build One?
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Know Who Your Customers Are
• Strategic target - The consumers for whom your product/service benefit will be relevant.
• Prime prospect target - The subset(s) of your strategic target that represent your most rapid near-term purchase opportunity.
• Can you find the target audience?• Is the target audience big enough to meet
your business needs?
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Listen and Learn
• What are they frustrated with that your product/service might address?
• How do they talk about their frustration?• How does it effect them emotionally?• How would their life be different if the
frustration went away?• If your product/service were not available,
what would they buy to address their need?
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What Do I Say?
• What are the points of difference your product/service provides versus the competition?
• What are the points of parity your product shares with the competition?
• What is my product/service image and identity?
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Terminology Time Out
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Image versus Identity
Image• How people think about your
product/service.• May or may not be accurate.• May or may not be based on experience.Identity• What your product or service really is or
aspires to be.
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Problem/Need Statement• A sentence (or two) that describes the
target’s frustration or unmet need.• It establishes the context for why your
product/service is important.• Establishes the rationale for the target to
consider your product/service as a solution to be considered.
• Built from a compelling insight gleaned from your target.
• Can be inspirational or informative.
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Examples
• Existing belief or perception - “Environmentally friendly cars are boring to drive.”
• Set-up superiority - “In today’s market, a micro-processor speed of 2.6 Ghz is considered fast.”
• Establish a position - “A lot of people are convinced that to get a good price they have to sacrifice quality.”
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Guidelines
• Use words your target would understand.
• Focus on one problem/need or belief.
• Stay realistic, don’t set up a problem your product/service can’t solve.
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Benefit Statement
• A promise that answers the question - “What’s in it for me?”
• Must be desirable.
• Must be clearly written.
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Examples
• Functional - How much better or more of something your product/service delivers (Using Castrol GTZ oil helps your car’s engine last longer).
• Emotional - The end benefit for your target (Buying low-fee funds from Vanguard makes you feel like a smart investor).
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Guidelines
• Be as single-minded as possible.
• Go for superiority if your product/service can provide it.
• Don’t be frustrated if your product/service delivers a parity benefit versus competition … you can still differentiate (stay tuned).
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Reasons to Believe Statement• Adds credibility to your promise.• Explains how your product/service will
deliver the promised benefit.• The place where most products/services
differentiate from the competition (Dr. Kevin Keller - POD, POP).
• Must be simply stated in language your target understands.
• Never have more than 3 reasons.
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Examples
• A special ingredient
• Logical explanation (Jif tastes better because it has a freshness seal)
• Hard evidence
• Third-Party recommendation
• Performance track record
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Template
Convince _____________ (target)
That _________________ (promise)
Because______________ (RTBs)
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Example - Dilly’s Ice Cream• Problem/Need Statement - Mothers are frustrated because their
children are not getting enough calcium in their diets and it is impossible to get them to take supplements.
• Benefit Statement - Dilly’s Ice Cream provides extra calcium in an ice cream products kids enjoy.
• Rational benefit - Healthy, taste good, easy• Emotional benefit - I feel good about myself knowing I am taking
care of my family.• Reason to believe - Scientific studies demonstrate children are
not getting sufficient calcium from their current diet for strong and healthy bones and the extra amount of calcium found in Dilly’s Ice Cream can close the gap.
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In The Template Format
Moms are frustrated their kids do not get enough calcium in their diet to grow strong, healthy bones. We will help Moms feel good about taking care of their kids by convincing them to add Dilly’s Ice Cream to their family menu twice a week, because it is scientifically proven to provide the extra calcium kids need in an enjoyable ice cream product.
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How Do I Use The Promise Statement?
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You Need To Bring The Promise To Life Through Communication
• Reach target audience when and where most receptive– Consider most relevant touchpoints– Consider all sources of communication
• On-line• Face to Face Presentations• Social Media• TV• Print• Radio• Etc.
• Identify synergies between different communication vehicles• Ensure consistent on-equity communication• Create exciting, memorable experiences to maximize impact
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WARNING!Avoid
“little of everything”plans
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Reach The Target When They Are Most Receptive
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Whirlpool Example
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You Need a Marketing Plan which includes…
• A Communication Plan– Communication Matrix that translates your promise into a
meaningful benefit for each target audience.– Cascaded Message Tracks to guide public relations.– Media Mix Plan that defines where you will be
communicating your message.• A Copy Brief that guides the Creative Agency in their work to
translate your promise into a campaign• A Sales Plan to guide the creation of a revenue stream• A Development Plan to help keep your promise relevant,
competitive and authentic• A Financial plan to help manage your cash flow
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Unexpected iPod
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Consistent iPod
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Exciting iPod
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Can You Afford A Brand?
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Should I Be Social?
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Answer These Questions
• Where are my targets getting information on solutions to the problem my product/service addresses?
• Am I willing to invest the time it takes to maintain a social presence for my business?
• Am I willing to invest money to advertise my product/service in social media channels?
• Why am I afraid to say no?