How To Achieve Best-In-Class Brand Marketing
With technology driving the disruption of every business category, the business landscape is changing at breakneck speeds. What was once the exclusive purview of Fortune 500 brands, brand marketing is now of critical importance to every single company out there, whether B2B or B2C. Every company is a now a brand and every brand needs marketing. Here are 5 steps to achieving best-in-class brand marketing.
- 1. Define your core offering
- As the brand leader, you know intuitively what your brand offering is. The difficult part is putting those intuitive thoughts into a clear, easy to understand, (one or two sentence) core offering. This is a bigger undertaking than you might first think, so get started as soon as possible. You will eventually need to define a full brand DNA, but first steps first.
- 2. Define your competitive advantage
- What makes your brand superior to your competitors? Open source technology has created a lot of modern brands that offer essentially the same service as their competitors. Therefore, consumers have more choice than ever. Competition has never been more fierce and the barriers to entry into a category have never been so low. As a result, brand marketing has never been more important. Each brand needs a clear voice, a clear promise, and an engaging brand marketing strategy that meets or exceeds your consumers expectations each step of the journey.
- 3. User Experience is Customer Service
- User experience and design have never been more critical given that your consumer’s primary engagement with your brand happens on web portals and mobile apps. Good user experience is good customer service and vice versa. User experience and design are effectively the automation of customer service. The user experience is the new store manager and design is the new store employee. The best brands throw everything into customer service. If you understand that user experience and design represent are the ‘employees’ of your brand, you’re on your way to building a modern brand
- 4. Create a Product Video
- If a picture says a thousand words than a video says a million words. Consumers want to understand your core offering, your competitive advantage and your culture before deciding whether to engage or transact with your brand. Good brand marketing allows the consumer to answer each of those questions in an efficient and effective manner. After all you only have a few seconds to capture their attention and reel them into the experience. The best way to do that, aside from a well designed and engaging layout is creating a product video that lives on your home page. The product video should clearly define the utility of your brand’s offering while demonstrating your competitive advantages and ease of use. Innovation is best defined by showing it in action.
- 5. Allocate 20% of profits towards brand marketing
- The first 2 years of a brand launch need to be supported by a healthy brand marketing budget. Remember, you have lots of competition and the barrier to entry for new competitors has never been lower. Therefore ,you need a clear brand voice that builds equity as fast as possible. Don’t skimp on marketing budgets within the first 2 years. After your brand is established you can reduce that spend to 8% of budget.
- 6. Iterate, Test, Launch, Repeat
- Your brand is a living organism. You will have to iterate, test, launch and then repeat the whole process over again. It’s necessary to listen to your consumers and iterate according to what is moving the brand the most. Don’t be afraid of constantly tweaking your brand offering.
- 7. Marketing needs Advertising Support
- Make sure you have a marketer on your executive team but understand that that is just the first step. The Marketer will need a team of advertisers to execute on the brand strategy. You can hire an internal team or partner with an ad agency or brand studio. But don’t expect your marketing staff to do your advertising or vice versa. You need both.