critical factors in re~defining your brand strategy

Critical Factors in re~Defining your

Brand Strategy

michael@wcngroup.com 805.901.4638@michaelnewhouse

Presenter:

Michael C. Newhouse MBA, Post MBA-Marketing

CEO/CMO WCN Group

Brand & Marketing Strategist

Delivering Brand & Marketing Strategies for start-ups to Fortune 500

e~ michael@wcngroup.com

w~www.wcngroup.com

Twitter~ @michaelnewhouse

What is Brand Strategy? The most miss-defined and miss-understood business term

• uniquely positioning a product or company

• attracts and retains Loyal Customers

• genuine personality of your company.

• big picture plans and tactics

• perceived as the only solution

• Entire experience customers have with your product and company

Clear Brand Strategy

The images you convey The messages you

deliver on your website, proposals and sales materials

The way your employees interact with customers

• A customer’s opinion of you versus your competition

Why have a Brand Strategy

• Customers and Prospects know exactly what you deliver.

• Essence of what you represent• Assists with articulating communication both

internal & external• Increase targeted marketing• Increases market share• Company culture thrives• Decrease employee turnover

Brand Strategy in the New World

New world is the global financial climate and explosion of social sharing.

Your brand is being defined, defended and developed right now!

Are you part of the Branding Process?

CF #1Measure current Brand Strategy

• Can customers clearly articulate what your Brand (product or service) is?

• Can employees and vendors (at all levels) clearly articulate what your Brand (product or service) is?

• Does what both groups articulate match?

• Monitor online what is being said about your brand (Google Alerts, forums, blogs, email feedback…)

• Goals and Objectives (Financial, market share, revenue, marketing…)

The Most Valuable US Retail Brands 2010*Interbrand report

While price matters more this year, brands still have the ability to inspire confidence and

generate an emotional connection.

Undifferentiated propositions kill value.

CF #2Review (or develop) your

Competitive Positioning

• def: Competitive positioning is about defining how you’ll “Differentiate” your offering and create value for your market.

Competitive Positioning

• Market profile: size, competitors, stage of growth

• Customer segments: groups of prospects with similar wants & needs

• SWOT (Competitive analysis: strengths, weaknesses, opportunities and threats in the landscape)

• Positioning strategy: how you’ll position your product or service to focus on opportunities in the market

• Value proposition: the type of value you’ll deliver to the market

• Demographics and Psychographics

CF #3Determine Brand Strategy Goals

• Grow Market share• Grow Brand Evangelist

• Measure and grow customer loyalty• Revenue/sales projections (brand equity)

"When you sit, sit. When you stand, stand. Whatever you do, don't

wobble." Zen proverb.

(Mission) Critical Factors for Branding

CF #4Develop Brand Strategy (Mantra)

• Def: Mantra - a commonly repeated word or phrase.

"Perception of brand is just as important, or even more so, than fact," says Farley. "But what I've learned over 20 years is, the truth comes out” Jim Farley, Head of marketing, Ford

*** You can call this document what ever you like, some companies call it their Verbal Brand formula, Brand Contract…

Brand Strategy Mantra

• List the benefits then narrow down to emotions (rational as well) derived from these benefits (not all benefits will create emotions)

• Write the story about the brand – Authentic (Brand Authenticity is not way you say, it is What you do!)

• Choose colors, fonts, images (social objects – video, pictures,

Wikipedia, blog, Facebook, Twitter… ) and other visual elements that represent emotions/story/benefits/personality of the Brand.

• Integrate brand Mantra in all brand experiences via marketing, sales, employee culture and communication material (internal & external).

Engage your Brand Strategy

“Give me six hours to chop down a tree and I will spend the first four sharpening the axe”. Abraham Lincoln

The next step is to implement your Brand Strategy with Marketing Tools that areIn-line with your strategy.