Very few companies ever find a way to build profitable and truly enduring brands. Has your business?
In a world where price often dominates the discussion and a sea of options and choices flood the market how do you create and sustain a point of differentiation for your brand in the eyes of prospects?
In a world where confusion and suspicion about products and services is ever present how do you drive customer loyalty and retention?
In a world where "Price Pirates" are trying to steal your customers every moment how do you establish a real attack strategy for your company? How do you give consumers a reason for loyalty? How do you stop the outrageous churn?
Brand value and loyalty can be created in this chaotic marketplace
* A smarter consumer has emerged
Consumers are now open to really seeing the value of a product above and beyond cost.
* Information has become ubiquitous
IT-enabled consumers are insistent on being careful about every single purchase.
* Premium price will be accepted when consumers are given a reason
For example, today's marketplace allows companies (Apple and others) to ask for a premium on products and services that combine high functionality with a simple end-user experience.
How to create profitable and enduring brands:
Consider these five core steps. Remember, it is vital that your senior management team provide unequivocal cascading endorsement of the work from the start:
Step #1. Identify your core target & gather insights about them
Who are the customers most vital to your profitable growth? Use insights from this group to create a picture of their met and unmet needs.
Step #2. Construct your brand value proposition
Create a set of brand "promises" that your core customers (and prospects) will perceive as believable, compelling and differentiated.
Step #3. Design your brand activation campaign
Design a campaign that will actually deliver on each and every promise that you've made (at every customer touch point possible).
Step #4. Launch your brand activation campaign and measure the results
Identify success metrics to measure your progress. Put into place the measurement tools to track success and adjust your promises and campaign over time as needed.
Step #5. Create a culture of "Brand Champions"
Ensure that everyone across your organization as well your partners understands and embraces the brand "promises" and insist that they can bring them to life every single moment. Reward outstanding results.