Sunday, December 16, 2012

Your Brand Marketing Strategy – GEC Business Review


by Kelvin Wong

Your brand has a story, you have to tell!

There are still many organizations, whether big or small, don’t realize the importance of a well-managed brand.  The brands that enhance the experience will in fact benefit from some combination of bigger margins, higher customer loyalty, increased viral marketing, and reduced acquisition costs. For instance, some luxury brands may not need to advertise so frequent.  Wonder when was the last time that you saw an ad for Louis Vuitton?

Successful CEOs understand that strong brand growth starts with the definition of “who we are,” and “what do we mean to our customers?” A brand is what most important customers talk about you. The perception is what branding is all about. Great brands forge deep connections so that you can compete more effectively, grow market share and build loyalty.

So how do you want your brand to be remembered?

In short, your brand marketing strategy is your plan for the collection of emotions and images associated with your brand. The strategy is put into action through branding.

Consider the impression you want to have in the minds of your customers. How do you want them to see your brand? What words do you want them to associate with your brand? The choices you make about your brand marketing strategy will shape all of your other marketing strategies.

Here are 5 core strategies I believe to be the key to achieve brand marketing success:- 

1. Start from the Inside Out

Everyone in your company can tell you what they see, think and feel about your brand.  That’s the story you should bring to the customers. Zappos.com is indeed a great example to illustrate, where it empowers employees to strengthen consumer perception on its brand. 

2. Be Consistent

Consistency in your message is the key to create competitive edge. Own your position on every reference point for everything that you do. BMW has always been known as the “ultimate driving machine.” 

3. Align Tactics with Strategy

Consider to convey your brand messages on the most appropriate media platform with specific campaign objectives. Nowadays’ consumers are bombarded by commercial messages every day, therefore, investing your branding efforts on the right platform that communicates to the right channels is essential. 

4. Measure the Performance

Focus on the ROMI (return on marketing investment) is the key to measure the effectiveness of your strategies. It could be reflected in brand valuation and how your customers react to your product.

Ultimately it should resonate with sales and that means profitability.  Besides, do give yourself options to test different marketing tactics, make sure they fit your brand authenticity and align with your overall strategy. 

5. Cultivate Your Community

Community is a very powerful and effective platform which engaging customers and ultimately creating loyalty towards the brand. In an active community, members feel a need to connect with each other in the context of the brand’s consumption. Guess what car would members of the Porsche Club consider first when it’s time to purchase their next vehicle? 

Brand communities allow your brand to collaborate with your customers in all phases of value creation via crowd-sourcing such as product design, pricing, availability, and even how to sell.

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