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BRANDS DEVELOPING AND IMPLEMENTING
SUCCESSFUL BRAND STRATEGY
A Brand is more than a logo
A brand is the sum of the mental connections a person has in relation to a product or service
Brands only exist in the mind of the market
Choose?
The value of Brands are realised through customer choice
Shareholder value is created through the choice of customers to transact on the basis of the associations they hold in respect to a product, good or service.
Without an identifiable brand customers have no clear way of: choosing one alternative over another discerning the option that best meets their needs rewarding businesses that have genuine competitive advantage
Why should a customer choose you?
Company A
Company B
Company C
The strongest Brands are built upon competitive advantage
Customers choose brands where the mental associations reflect:
- Value propositions that meet the needs of customers
- Benefits that differ from alternatives in ways that are relevant to customers
- Values that appeal to customers’ own beliefs or aspirations
Brands are built upon both rational and emotional advantage.
Brand Strategy is a business imperative
Businesses have a brand even when they do not have a brand strategy.
If you don’t invest in defining the meaning of your brand, the market will define it for you.
Brand Strategy is an extension of Business Strategy
Where does the business compete?
How does the business create value?
How does the business create a return for shareholders?
How does the business leverage compe==ve advantage?
How does the business a>ract and retain talent?
Which customers does the brand serve?
What are the needs the brand fulfils?
What are customers prepared to pay for a brand that delivers value?
What makes this brand different from others
What does the brand stand for beyond making money?
Brands are built from multiple influences
Brand Strategy must address controllable & uncontrollable influences
Sponsorship
Advertising
Product/Service Experience
Editorial Comment
Endorsement
Observation
In-Store
Brand
Word of mouth
Social Media
Promotion
Logo design
The alignment of brand strategy with culture and values is cri=cal
• In most businesses, people are a cri=cal component of brand strategy
• The can be highly influen=al in determining customer experience in dealing with the brand
• Strong brands are underpinned by a culture that is in harmony with the brand
How does your Brand Strategy stack-up?
Our Brand Strategy is…. Yes No Don’t Know
Clearly linked to our business strategy - How we manage our brand and the investments we make in branding can be clearly tied back to our business goals, objectives and outcomes.
Based upon the rational & emotional need of our target market – Our target market is clearly defined and we have solid research that backs-up our understanding of what customers need from businesses like ours.
Effective in differentiating us from the competition – Customers clearly see our brand as different from competing alternatives in ways that really matter to them
Integrated across all points of influence – Our planned investments in our brand are consistent across all customer touch points. We are consistent in our controlled communications through web, PR, sponsorship and advertising and most importantly, in the experiences customers have when they deal with our business.
Understood by our staff & business partners – If I asked each staff member or business partner what our business stands for and what makes us different in the eyes of customers, I would get a consistent response that really reflects our brand strategy.
If you answered anything other then “Yes” to any of the above, you have work to do on your brand strategy.
So, how do you unlock the value of a brand?
Brand Navigator’s 8-step process
Business Strategy
Brand Development
Brand Adop=on
Brand Implementa=on
Client
1
5
3 7
2
4 6
8
Discovery
Insight
Strategy Alignment
Positioning
Identity Development
Employee Alignment
Go to Market Planning
Implementation
Scoping & Customer Research to identify
rational & emotional needs
Internal Workshops to agree target market &
value proposition
Architecture – Linking Brand to Business goals & outcomes
Naming & attribute definition
Link to culture & values
Develop Brand identity & guidelines
for application
Communication planning across touch-points &
processes
Execution – including monitoring of brand
performance
For advice on unlocking the value of your brand contact:
Dean Harris – Director [email protected]
Cecile Thornley – Director [email protected]
Or visit: www.brandnavigator.com.au