stealthunder: brand building in 10 minutes
Post on 21-Oct-2014
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Brand building requires more than building brand awareness. Talk presented at Merrill Lynch CFO conference Sept 2010.TRANSCRIPT
Brand building in 10 minutes.
MANAGEMENT CONSULTING FOR YOUR BRAND
StealThunder
FPO
If you have a business, "you have a brand."
But is your brand working for you?
Coca-Cola equity from Interbrand Best Global Brands rankings, 9/2009
Strong brands pay off.
Differentiate, drive preference – even among parity products
Create new business, partner, "and channel opportunities
Command a price premium
Focus, align, and integrate "the efforts of the organization
Increase marketing efficiencies; "reduce marketing costs
Increase corporate valuation "and shareholder value
$ 68B BRAND EQUITY
$ 48B TANGIBLE ASSETS
$116B MARKET CAP
Your brand is not your name or logo.
Your brand is an asset comprised of "the ideas, associations, expectations, and feelings that your name or logo brings to mind.
The objective of brand building is "to create a set of impressions that will result in profitable relationships.
These brand impressions can be "shaped by four key factors…
Nike!
1. Who you are
Leadership Vision and mission Culture and values Employees Spokesmen/women
Industry, category Competencies Heritage, track record Location, nationality Corporate citizenship
How you set direction for the brand
Products and services Channels (online, retail) Partnerships Pricing Licensing Manufacturing
Patents, IP Research and development Product design Quality control Service and support Employee training
2. What you do
How you deliver value through products and services
Logo, identity system Names Advertising, promotions Product design Packaging, collateral Retail design Signage, vehicles
Website, blogs, online communities Twitter, Facebook Public relations Corporate communications Investor relations Employee communications
3. What you express
How you build awareness and set expectations of value
4. What others do and say about you
Competition Industry conditions Economic conditions Political climate"Culture and trends
Social networking Current events Customers
Like
Brand impressions you don’t control
Traditional focus: build brand awareness
But awareness is only the beginning
DISCOVER
PREFER
PURCHASE / USE
CONSIDER
The “whole brand” picture
Any of these elements can play a "role along the path to preference."
Focus on the areas that matter "in terms of attracting and retaining your most valuable customers.
Like
You can’t afford to go straight to tactics.
Creating buzz, breaking through the static, embracing viral marketing — everyone’s "tried it…even if there wasn’t a relevant product or service behind the campaign.
Never in the history of marketing have so "many companies spent so much for so little.”
“
— SCOTT BEDBURY
The starting point must be defining your "“big idea”— what you stand for, "how you’re different, and why you matter "to the audiences you value most.
This idea is the touchstone to "focus everything "you do and say.
It’s critical to get "it right.
YES NO
Is your big idea:
1. Differentiated
2. Authentic
3. Relevant
4. Tangible
1998 – 2010 1996 "
Getting it right
“cool products that "delight”
“serious business "machines”
Wrong idea Right idea
FocusedUnfocused
SoaringSinking
3. Deutsche Bank, includes iPad 4. Apple media event, 9/2009 5. Deutsche Bank 1. Wikinvest 2. BusinessWeek 2-05-06
$3. 1996 MARKET CAP1
$230B 2010 MARKET CAP
B1
7.1%2 12%3 74%4 14%5
Brand ROI checklist
1. Do you have a "“big idea”? Is it differentiated and compelling to your most valuable audiences?
2. "Is your big idea understood through- out the company "and being used to focus and align the business?
3. Is your company doing and saying what’s needed to engage and retain your most valuable audiences?
StealThunder
Management consulting for your brand. Located in the heart of Silicon Valley, California.
Contact"Peter Russert (650) 941- 8420 www.stealthunder.com