Branding Fundamentals
- 1. creating a unique brand to spark business growth a strategic approach to differentiate yourself Presented by Steve Carples, Principal of Synergistics Consulting April 20, 2012 catalysts for growth through insight + action catalysts for growth through insight + action
- 2. branding defined BRANDING is all about focus! Consistently delivering a core promise based on internal core competencies & passions – across ALL stakeholder touch-points – to address a defined target audience’s wants in a relevant, differentiated way catalysts for growth through insight + action
- 3. question to ponder Do consultants really need to invest in building a strong brand? It’s important for you to make a positive first impression and have a good public image – isn’t that true for your business as well? catalysts for growth through insight + action
- 4. a model for strategic branding Your brand is your Value Received: • Positive market image most significant asset! • Increased income and market share BRAND • More clients engaged EQUITY • Higher client loyalty Foundation CULTURE Foundation elements elements MARKETING STRATEGY catalysts for growth through insight + action
- 5. another basic question What is the most critical success factor for building a strong brand? catalysts for growth through insight + action
- 6. simple answer Be authentic! “Business, simply put, is PEOPLE doing THINGS with STUFF” To unleash the hidden potential in your business: Define – Clearly articulate what you’re all about Align – Mesh all aspects of your strategy, marketing & sales delivery Instill – Ensure your core ideology is internalized by all associates, and exhibited in every action at all stakeholder touch-points catalysts for growth through insight + action
- 7. foundation elements strategy A plan of action to marshal precious resources to achieve a desired future BRAND EQUITY CULTURE 3 Key Questions: – What are you passionate about? MARKETING STRATEGY – What are your core competencies? – What is your economic engine? catalysts for growth through insight + action
- 8. what are you passionate about? catalysts for growth through insight + action
- 9. what drives you? Core Ideology Purpose/Values – What drives you – impact on improving your world Vision – The BHAG – your long term stretch goal Mission – The “journey” – steps to achieve the vision Brand Essence – The enduring heart & soul of your enterprise – based on well articulated attributes, benefits, values & personality catalysts for growth through insight + action
- 10. what are your strengths & talents? catalysts for growth through insight + action
- 11. what are your core competencies Current Situation Analysis SWOT’s – Internal and external factors to address based on historical underpinnings and competitive realities Value Proposition – Problem you solve – unique benefits for a defined target Products & Services – Specific offerings you provide to the market you serve catalysts for growth through insight + action
- 12. what is your value proposition? catalysts for growth through insight + action
- 13. what is your economic engine? Pricing and Sales Considerations Revenue Model – Transaction vs. recurring revenue – Value-based pricing Prospect Generation/Qualification – Investment based on “lifetime value” of a client Closing Opportunities – Initial sale & ability to leverage relationships for future sales Post Sale Service – Problem resolution, refund policies & client support catalysts for growth through insight + action
- 14. example of brand strategy my essence Attributes – Big picture strategic thinker, marketing expert, articulate communicator, mission driven and goal directed Benefits – Comprehensive perspective, focused business strategies, clearly articulated brand platforms and executional excellence Values – Insightful, accomplished, responsible, enriched and true-to-themselves Personality – Energetic, inquisitive, caring, adventurous and sociable Brand Essence – Dreams realized catalysts for growth through insight + action
- 15. articulate your unique offering Brand Essence Platform Attributes – Tangible characteristics Benefits – Specific client needs served Values – How you make clients feel Personality – How you present yourself Brand Essence – Enduring heart & soul catalysts for growth through insight + action
- 16. foundation elements marketing Processes for creating, communicating, delivering & exchanging offerings that have value for clients and society BRAND EQUITY Key Considerations: CULTURE – Anticipating emerging marketplace needs – Segmenting the market – positioning to a niche – Developing an optimized product/service offering MARKETING STRATEGY – Building awareness & arousing interest (social media, collateral, advertising, PR, promotion) – Satisfying target market needs profitably (optimized distribution channels & pricing) – Delivering on service expectations consistently catalysts for growth through insight + action
- 17. brand emulation Elements of Brand Communication Core Promise – The immutable essence of what the brand offers emotionally Visual Identity – Logo, standards for color & typography, vocabulary Key Message – Competitive point-of-reference, target, key benefits & reasons why Tone & Manner – Emotional feel that is a part of all stakeholder communications catalysts for growth through insight + action
- 18. foundation elements culture Set of shared beliefs, values & norms that represent the unique character of an organization, and provides a context for action in it and by it BRAND EQUITY CULTURE Key Considerations: – Intrinsically linked to brand essence MARKETING STRATEGY – Must be consistently expressed at all stakeholder touch-points – Requires “stewardship” by key management – Strengthened by fluid communication up, down and across the organization – Instilled through investment in associate training catalysts for growth through insight + action
- 19. a legendary corporate culture “Pixie Dusting” – All, from Execs to Maintenance, taught The Disney Way – Experiential training instills understanding for inner workings of Co. Theatre Lexicon – Cast members always on stage to ensure optimized guest experience Doctrine Mentality – Military-like control, from dress code to behavior & use of iconography Corporate Synergy – New equities extended to all business units for value enhancement New Businesses Required to Add-to vs. Leverage Equity catalysts for growth through insight + action
- 20. brand equity Value derived from the sum of distinguishing qualities, goodwill and name recognition earned over time from all relevant stakeholders BRAND EQUITY CULTURE Key Attributes: – Results in higher product/service demand, MARKETING STRATEGY increased sales volume, higher profit margins and a positive market-leading image – Stems from the differentiated thoughts and feelings stakeholders harbor vs. competition – Once established, can result in total ownership of a benefit area and be represented by a logo catalysts for growth through insight + action
- 21. the power of iconic brands What 1-3 words (NOT company names) do these images evoke in your mind? = = = = catalysts for growth through insight + action
- 22. the power of iconic brands = Magical Experiences = Refreshment = Awesome Functional Design = Achievement catalysts for growth through insight + action
- 23. a service sector example of branding Desired Future – Increase potential donor interest and amount of philanthropic gifts Adopted Solution – Updated identity & new vision to “create a world without heart disease” – More personalized approach in marketing initiatives – Consistent expression at all stakeholder touch-points Marketing Execution – “Imagine the Possibilities” tone & manner – “The Face of Heart Disease …” stories highlight MHIF’s impact – “Heart of New Ulm” 10-year initiative to eradicate heart disease catalysts for growth through insight + action
- 24. speaking to your target’s heart Imagine a world without heart disease … a world filled with new medical possibilities in the form of more effective diagnostic techniques and treatment protocols – a world where individuals live healthier, more productive lives by addressing cardiovascular risk factors before they become a problem. This is the vision of the Minneapolis Heart Institute Foundation. Through ground-breaking clinical research, education initiatives and health behavior change programs; we are making a tangible impact on improving individuals’ health and reducing the mortality rate associated with cardiovascular disease. We invite you to join us in envisioning the possibilities. With your support, together we can create a world without heart disease. catalysts for growth through insight + action
- 25. what’s your wish? catalysts for growth through insight + action
- 26. what do you stand for? Core Values Core Purpose Key Competencies Operating Style Value Proposition Brand Promise catalysts for growth through insight + action
- 27. ignite your business growth Define Your Authentic Brand – Clearly articulate the differentiated value you provide clients – Help them understand why they should care Focus Your Marketing Efforts – Align your business strategy, marketing & sales delivery – Ensure your core ideology is internalized by all associates and exhibited in every action at all touch-points Achieve Your Business Goals – Identify opportunities that meld with what you want to accomplish – Shine your unique “light” on to the world catalysts for growth through insight + action
- 28. contact info Thank you! Steve Carples Principal, Synergistics Consulting (952) 525-3199 steve@synconsult.com www.synconsult.com catalysts for growth through insight + action