Building Brand Equity: A Long-Term Business Investment
August 31, 2010 by admin · 2 Comments
Just like a home builds equity, your brand builds equity over time. The process begins with choices on color palette, logo and tagline, and is reinforced over time with careful planning, positioning and consistency.
Many years ago, I worked in marketing research. It was always interesting to see how many consumers could pick out a specific brand or product by its package design or color. Still others could make the connection simply from a font.
When you frame those results within the context of expert branding, the results are actually not all that surprising.
Building Your Signature Brand
Market research studies have consistently proven that consumers often identify a product on a subliminal level by the shape of the package, as well as its color. Consumers are making a note of these things, and they don’t even realize it.
Knowing this, it’s in a marketer’s best interest to begin building a strong brand foundation right out of the gate — one that will build equity for them over time. The shape and color of your packaging, or the font used in your logo can help illustrate the personality of your brand to a customer, and make it immediately recognizable.
My “Good Grief” Moment
Never was brand recognition more apparent to me than the first time I made out a shopping list for my husband. After several items, I was careful to include a short description of the item — including the package size and color.
Did it help him find the noted items? We’ll probably never know. Guys aren’t exactly forthcoming about these things — even if it’s in the name of (marketing) science.
Raise a Glass to Coca-Cola®
Coca-Cola® has used their distinctive contoured bottle for many years; a detail that made the transition from glass to plastic – and this design has even been incorporated into their canned soda by using the curved lines that mimic the contoured bottle. If you were to see an empty plastic soda bottle, and noted that curved contour, most of us would immediately recognize it as a Coke® brand bottle — even if their trademarked red labeling was removed.
I was such a loyal customer that back in my soda-drinking heyday, I could spot a Coca-Cola® cooler in the store from 6 aisles away. Now, that may well be as much a factor of my addiction to the bubbly beverage as it was to their brand equity — but I’ll leave that for you to judge.
Bottom line — you certainly want your image to keep pace with the times, but changing from a long-established or easily recognized package or label can be detrimental.
Gone to the Dogs
Of course we all know that it is important to have a visually attractive product package. This is certainly true in a retail setting – whether you are in a brick-and-mortar, or virtual store. Three Dog Bakery is an excellent example of conveying quality, personality and company mission in a clever and memorable way.
The site, as well as their retail outlets are themed to their market, and feature whimsical cartoon characters. Clever names, such as their Dogalog®, reinforce the brand and create their own language for their products. The website gives detailed information on the company, its founders, the pets that inspired the business, and many projects that the company is involved in – all of which reflect an ongoing commitment to the consumers and the market that they serve.
Even their company phone number reflects a brand building quality that reinforces their market position.
For canine-crazy folks like me, Three Dog Bakery scores high marks not only for their pet-friendly stores, but also for recognizing that pets are members of our family. Peruse the display cases at any of their franchise stores and you’ll quickly discover a selection of canine confections that rival what you may find for yourself at your own local bakery.
Three Dog Bakery’s retail products feature distinctive kraft, green, orange and purple packaging, signature typestyle, and whimsical dog imagery. When passing a shelf with their products on it, those familiar with the brand immediately recognize it – and those that aren’t are certainly drawn to it by the unique look. It’s easy to see why this brand has become hugely popular among pet owners.
So now it’s your turn — grab a sheet of paper and begin making a list of your brand assets. Are they coordinated? Do they reflect your company, brand and message in a positive and recognizable way?
If not, now is the time to get busy. Investing in your brand today will pay dividends for many years to come.
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July 7, 2010 by admin · 2 Comments
To say that I have a sweet tooth would be a gross understatement.
As a little girl, I squandered many a weeks’ allowance at the corner store — back when my $2 went a heck of a lot further than it does these days. I’d giddily race home with a sack filled to the brim with all sorts of treats, and at least one (real glass) bottle of soda pop.
Those first few moments after I’d spread out my haul across my desk were mesmerizing. My eyes would dance across the brightly-colored wrappers as I inhaled the enticing fragrance of sugary bliss. Truly this must be heaven!
But it wouldn’t last.
Despite my mother’s continued advice (read: warnings) to ration out my stash over several days, invariably I would indulge a bit too heavy that first day, and end up with a stomach ache.
How could something so good go so wrong?
In a marketplace that is both crowded and noisy, discerning which information is sugar and which is substance can be difficult at best. Sleek graphics, pulse-pumping soundtracks, video imagery and convincing copy have been known to lead many new business owners astray. It happens — and the sad fact is that it happens all too often.
So, before you part with your hard-earned cash, I encourage you to weigh out the nutrition from the nougat. A bit of due diligence in the short term will prevent buyer’s remorse later.
Content:
It’s easy to get caught up in the hype of huge product launches. We all know when they are happening — a sure, clear sign is when every list you belong to suddenly begins churning out the same affiliate copy. What always amazes me are how many mid-level marketers will promote products sight-unseen. They haven’t read that 7-volume monster program that they are pushing you to buy…yet they are putting their reputation on the line by recommending it.
What if the product isn’t worth the paper it’s printed on? Have these marketers given any thought to how you’ll likely respond the next time (and there always is one) they begin promoting the NEXT best thing since Wonder® bread?
Take a good long look at those lists you’re on. If they aren’t providing you with consistent, actionable content, let them go. That goes for those blogs you are reading as well. If you are squeamish about unsubscribing right away, try scanning a few before you decide. The bottom line is any newsletter or blog that you are reading as a trusted resource should be providing more than just a steady diet of promotional pixie sticks.
Quality:
Quality should apply to more than just the visual look of a web venue. What sources do they cite? Is said venue providing you with pertinent and correct information? Are they ahead of the curve, or always a day late?
I recently read an article that talked about how easily misinformation becomes proliferated on the web — simply because folks are too quick (or perhaps just too lazy) to check the facts before republishing information they’ve found elsewhere. Before you become a devotee of the latest trend or tutor — spend some time vetting them out. Read their articles, follow their blog. Check out their social media profiles on Twitter, Facebook and LinkedIn. Do they interact with their followers, or pontificate? Do they walk the talk?
Finally, never underestimate the power of a well-executed Google search. Is the information being promoted something that may already exist elsewhere on the web…or heaven forbid (gasp), for free?
Social Proof:
A large part of the appeal of social media is the fact that it has so dramatically impacted consumers’ buying habits. Jumping on sites like Foursquare or Yelp can provide a helpful review on the new restaurant that just opened around the corner. Sites such as AngiesList have sprung up to help save consumers from falling prey to sub-par service providers. I encourage you to use the same discretion before laying out the cash to claim the latest piece of training material.
If you are lucky enough to find a good quality source that you can trust (and there are a great many out there), find out who THEY are reading. Chances are they’ve already mentioned a few of their favorites by way of retweets, blog posts or Facebook shares. If not, it doesn’t hurt to ask.
Employing these tips and some good ole’ fashioned common sense will insure that when it comes time to bite, you’ll have something worth sinking your teeth into.
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April 15, 2010 by admin · 3 Comments
There is no disputing the power of a well-written, newsworthy press release. In fact, it is one of the single best things you can do for your business.
Newspapers, magazines, radio and television news programs are filled with stories about businesses and organizations every day. What you may not realize is that those stories are often the result of a press release. There is a bit of skill involved in crafting a truly newsworthy release; the rewards can help stretch your promotional dollar significantly.
In this 8-page, no-fluff guide, I’ll share the 6-step “Publicity Litmus Test,” the 5 critical self-evaluation questions that will result in a killer press release, the 7 steps to successful self-promotion, and 14 resources from my own personal PR rolodex.
To download your copy, click here.
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April 10, 2010 by admin · Leave a Comment
Tiger Woods appears to have picked up tips on how to swing — both on and off the course — from his father.
The very public details of the golf icon’s infidelity have been a topic of discussion on this blog before; and, while I hadn’t planned to address it again, the new Nike commercial that aired on April 8th prompted me to rethink that decision.
The controversial ad was created by the Wieden + Kennedy agency, and features a black and white image of Tiger (complete with contrite puppy dog eyes) and the voice of his late father, Earl Woods. If you are scratching your head at that last sentence, you aren’t alone. The audio has been excerpted from a 2004 interview of Earl for the documentary “Tiger: The Authorized DVD Collection.” In that narrative, Earl compares the “authoritative” nature of his wife, Kultida, to his own nature, which he described as “inquisitive.”
The camera zooms in on the somber-faced Tiger while we hear the elder Woods say, “I want to find out what your thinking was. I want to find out what your feelings are.” He continues, “And, did you learn anything?”
Insert your own snarky remark here. I know I did…
As this advertising abbhoration drew to a welcome close, my inner Don Draper was trying to pick his jaw up from the floor. Whatever Nike’s ad titans were smoking when they hatched this idea should prevent them from operating heavy machinery. Or ever writing ad copy again.
If you are looking for “ewwww-factor,” this spot has got it in spades. Between the irony of the Woods duo both being philanderers, or the posthumously parental dress-down — I can’t really say which bothers me more. What I can tell you is that it comes off as disengenuous on the part of both Tiger and Nike. Of course, Nike realizes that any press is good press — and they selected this controversial spot as the first introduction of their favorite golf pitchman back into the market.
The spot made its debut on ESPN, and was appropriately timed to coincide with Tiger’s return to the Master’s Tournament after a five-month long absence. Nike offered in a statement, “We support Tiger and his family. As he returns to competitive golf, the ad addresses his time away from the game using the powerful words of his father.”
Perhaps if Earl had encouraged the young Woods to show as much commitment to his marriage as he did the game, we’d instead be analyzing the commercial marketing genius that was once Tiger’s brand.
For those who may think I’ve been a bit heavy-handed in my criticism of Tiger from a publicity standpoint, you aren’t alone. My younger brother is a huge fan of Woods, (and a heck of a golfer in his own right). Earlier today we spoke on the phone so I could get some perspective from a true fan. “It’s a shame that it happened, but I just really want him to get back to playing golf. His extra-curricular activities haven’t impacted my opinion of him as an athlete.”
Truth be told, there are probably far more who share his opinion than I’ll ever know. If recent headlines are any indicator, Tiger could well have plenty of celebrity company at sex rehab. While I agree that what happens between a couple should stay between them — when the characters are in the public eye, that becomes difficult at best. What concerns me more is the slippery slope that it places us on when we overlook these indiscretions simply because someone is a celebrity — and the message, both in advertising and otherwise — that it sends to young fans.
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January 1, 2010 by admin · Leave a Comment
Now that the hype, heartburn and hoopla of the holidays is just a fond memory, it’s time to get back to business.
I know, you’re probably not quite ready to emerge from celebration mode just yet. Sorry about that — just call me Ebenezer.
We all know that without customers, a business won’t survive. That said, it stands to reason that we have to do more than just court them with clever advertising — we must convert them into customers and keep them. Finding customers isn’t exactly rocket science — especially if you’ve done your market research beforehand (you DID do that, right?). The part that can get a bit dicey is in keeping the customers you manage to get, and maintaining an excellent business relationship with them.
So, folks — here’s your mission, should you choose to accept it. Court those prospects — tempt and woo them. But once those prospects hand over their hard-earned cash to you and become an actual customer, be prepared to treat them like your business depends upon them.
Because it does.
Making a List, and Checking it Twice
Santa knows a thing or two about making a list, and so should you. Don’t let the thought of creating a customer database be daunting to you, though. Open Office has a spreadsheet component to it that is compatible with Microsoft Excel, and it’s free. You don’t have to keep elaborate records — simply keeping track of their names and email addresses will enable you to send off the occasional mailing to keep in touch.
I Have a List…Now What?
So glad you asked. Here are a few tips to maintain those customers, and encourage them to use your products or services again:
Keep in Touch
Your customers are just like you — they get busy with day-to-day life, and may not always think about revisiting your site to check out what may be new and noteworthy. It’s your job to service those customers, and keep them up to date on how you may be of service to them. Whether it is a new software upgrade, accessories to an original purchase, new companion products or sales announcements, you can create a simple ezine to share this information with your customers.
TIP: Don’t make your newsletter an in-your-face sales pitch. Spice up your mailing with tidbits like seasonal observances and holidays, tips, resources of interest, or other morsels that will make readers look forward to receiving your mailings.
R-E-S-P-E-C-T
Without subjecting you to my lackluster Aretha imitation, you get the general idea. The art of old-fashioned customer service is nearly non-existent these days — on the rare occasions that a customer receives a thank you note or email, it makes an impression. Make your customers feel valued and appreciated, and they will consistently seek you out for their future product or service needs.
Big Things from Small Packages
Everyone likes to get free stuff. While this may not be an earth shattering revelation to you, it may be something you haven’t considered. Drop a promotional pen, business card magnet or notepad into an outbound shipment, along with a “thanks for your order” note. You don’t need to go crazy ordering lavish items; but, you do need to make sure that any token you offer includes your name, logo and contact information on it.
Give Me a Break
Discounts are always welcome. During these challenging economic times, a discount on a future purchase may well encourage a future purchase in a timeframe of 10-30 days. You may consider setting up an autoresponder series that mails recent customers a promotional offer to encourage a future purchase — or you may use your regular ezine to send out these offers to your “preferred customer list.” Again, this all goes back to making your valued customers feel valued.
Turn Customers into a Commissioned Sales Force
There is no stronger endorsement than that of a satisfied customer. If we’ve learned anything from the boom of social networks, it is that consumers will seek out the advice and feedback of their peers before making a purchase decision. Turn your customers into brand evangelists by offering them a discount or free gift when they refer a friend that makes a purchase. Most shopping carts allow you to add a custom field for data collection during the checkout process — this provides a simple way for shoppers to give credit to the friend who referred them.
My Grandpa was an Old Spice man long before Isaiah Mustafa made it cool to be one. 
