While businesses can never have complete control of their brand, they absolutely have the opportunity—and obligation—to work to manage and influence how their brand is perceived. Part of that journey starts with some basic market research. You need to understand how you’re currently perceived before you can start planning to get to where you want to be. (more…)
Archive for the ‘Brand Management’ Category
Evaluating Your Brand? One Key Question to Ask Your Target Market
Thursday, October 19th, 2017Why You Should Build Your Brand Based on Reality—Not Advertising Campaigns
Thursday, August 17th, 2017
Marketers are understandably concerned about building and protecting strong brands. An Economist article from a few years ago discusses the power of brands. “Brands account for more than 30% of the stock market value of companies in the S&P 500 index, reckons Millward Brown, a market-research company. Everyone knows that a Ralph Lauren Polo shirt costs more than a polo shirt; Coke without the logo is just cola.”
But, brand-building efforts are sometimes misguided– (more…)
Toward a Broader Understanding of Brand
Thursday, July 6th, 2017
Most businesspeople and students of marketing would probably agree with the statement that your brand is important. Yet, despite this importance, the concept of a brand isn’t always easy to grasp. Part of that problem is because a brand is made of so many components that it needs to be considered very broadly.
In an article for Forbes titled “Your Brand Isn’t What You Think It Is,” author Ty Kiisel points out that most people don’t truly understand what a brand is. Kiisel writes: “I think most people would agree (although there are still some holdouts), your brand is not your logo or your colors. Of course the colors you choose and the way you present your name to the world is considered part of your brand, but it’s not the most important part. Your brand isn’t what you say you are either.” This is true … but what is your brand? (more…)
Social Media: Not Just For Sales; Another Area of Big Value
Thursday, June 29th, 2017
Social media is a powerful marketing tool for any business. Business and marketing professionals are particularly drawn to the extensive reach of social media and its potential for driving droves of new customers through their virtual doors. However—and this may surprise you—social media marketers shouldn’t be focused exclusively on bringing in new business.
A recent article on the American Marketing Association (AMA) website by Lawrence Crosby looked at the effectiveness of social media marketing on another important measure of marketing success— (more…)
The Softer Side of Brand Analysis
Friday, June 16th, 2017
We’ve written multiple posts on how to evaluate your brand, the fact that your brand is largely out of your control because it’s defined by your audience, and how to effectively manage your brand. Brands are subjective and live in the minds of your consumer, or business, audience. It can be tough to quantify the strength or weakness of a brand, which can be endlessly frustrating for numbers-driven marketers and business owners. (more…)
Your Website and Your Employer Brand
Tuesday, June 6th, 2017
Since the dawn of the Internet Age, businesses have been quick to see the benefit of a company website to attract customers; however, a company website, like any communication channel, should be thought of in the context of all of an organization’s stakeholders. This includes business partners and potential business partners, as well as employees and – the focus of this blog post – potential employees. (more…)
Engaging Employees Productively in Social Media Marketing Efforts
Tuesday, February 7th, 2017
It’s not always easy to tie marketing spend to an increase in revenue — even defining a standard way to measure return on marketing investment (ROMI or MROI) can be difficult — which can often mean that marketing managers struggle to increase their budgets. While we wholeheartedly stand by the fact that a well-crafted and well-implemented marketing strategy will bring in far more revenue than it costs to put in place, there’s always room for low-cost or no-cost strategies. And, as we’ve stressed before, employees can be great brand ambassadors. (more…)
Beyond Bribery: Building Customer Relationships Through Engagement
Monday, January 9th, 2017
It’s hard to overstate the importance of brand loyalty. Marketers know how difficult it can be to win new customers. Once you have brought a new consumer into the fold, it’s important to take steps to ensure that they will not only keep coming back, but that they will also refer others to you. (more…)
Caution: Don’t Let External Audiences Kidnap Your Brand!
Thursday, December 1st, 2016A fundamental principle in the world of marketing is that an organization does not control its brand. This may seem counterintuitive at first, but the truth is that the market, your current and potential customers, and consumers define your brand. You can try to influence your brand through your marketing communication efforts but, ultimately, no business can fully control the perceptions of the masses.
This is a lesson that athletic shoe company New Balance recently learned — and is still learning — the hard way. (more…)
Two Must-Haves for a Strong Employer Brand
Tuesday, November 8th, 2016
When we talk about branding, we focus a lot on an organization’s corporate image, the impression the market has about its service, the quality of its leaders and key or, if a service organization, the personal touch its employees provide. These are certainly important areas of focus for branding; however, in a service-driven marketplace, employers are becoming more and more aware of the importance of human capital. From senior leaders to front line employees, organizations need to attract the best and brightest to remain competitive for the long run. There are plenty of strategies and tips for effective employer branding, but here we focus on two: (more…)
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