The New Brand Normal
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Every year, FORTUNE and BusinessWeek publish influential research on high performing companies. All of these companies have demonstrated superior business performance and have established powerful brands in the market.They’re strong, relevant brands. These are brands that resonate deeply with consumers, drive insight to impact and are admired for quality products, services and leaders. Marketing excellence is the norm at these companies. Marketing is a respected function, with leaders that drive the marketing agenda. Their teams maintain strong business acumen, and they have a deep understanding of market forces and strategic knowledge. Most importantly, their leadership teams get it. True cross-functional collaboration and integration exists throughout the corporation, and the management teams are de-siloed. These leaders are customer experience zealots: They demand consistency of experience across all touchpoints, they understand moments of truth, and they ensure that their employees understand their roles in bringing their brand promise to life. Read through for 5 Principles for Creating a Strong Brand.
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The New Brand Normal
- 1. THE NEW BRAND NORMAL: IT'S NOT SO NEW AND IT'S ANYTHING BUT NORMAL SCOTT DAVIS CHIEF GROWTH OFFICER Proprietary and confidential. Do not distribute. Proprietary and confidential Do not distribute
- 2. Hot off the presses; rankings of corporate brands Every year, FORTUNE and BusinessWeek publish influential research on high performing companies: FORTUNE‟s Most Admired Companies BusinessWeek‟s The Best Global Brands Proprietary and confidential. Do not distribute.
- 3. Many companies have made both lists… Proprietary and confidential. Do not distribute.
- 4. …so what do these companies have in common? All of these companies have demonstrated superior business performance and have established powerful brands in the market STRONG, RELEVANT BRANDS MARKETING EXCELLENCE IS THE NORM Able to develop strong brands that resonate with consumers Admired as driving insight to impact Admired for quality products and services and leaders Marketing is a respected function, with leaders that drive the marketing agenda Maintain strong business acumen Have a deep understanding of market forces and strategic knowledge LEADERSHIP TEAMS THAT GET IT Think about brand building and the bottom-line – brand and demand True cross-functional collaboration and integration De-siloed management teams CUSTOMER EXPERIENCE ZEALOTS Consistency of experience across all touchpoints Employees understand their roles in bringing their brand promise to life Understand moments of truth Proprietary and confidential. Do not distribute.
- 5. Another way to measure In 2013, Fast Company did its annual ranking of the “World’s Most Innovative Companies” Proprietary and confidential. Do not distribute.
- 6. Only a handful of companies made these three lists… Proprietary and confidential. Do not distribute.
- 7. …but what do these companies have in common? These companies have shifted and understand the power of their brands, both internally and externally, and have… Leaders who continue to reinvent the business and the brand Constantly think what is next – new offerings, experiences, business models Fail fast mentality – constant test & learn mode Design thinking as a pervasive part of the company culture Executive-level commitment to diversity in thinking – internally and externally Culture that emphasizes the customer’s relationship with the brand Measurement and reward systems that align with building strong brands Proprietary and confidential. Do not distribute.
- 8. A fourth way to measure To start 2014, FORTUNE did its annual ranking of the “100 Best Companies to Work For” Proprietary and confidential. Do not distribute.
- 9. We are left with only a few leading brands Proprietary and confidential. Do not distribute.
- 10. Finally, a fifth way to measure To end 2013, Brand Index measured the 25 most talked about brands of the year Proprietary and confidential. Do not distribute.
- 11. Even fewer companies made all five lists Amazon and Google get it. They thrive around a shared purpose aimed at delivering end-to-end brand and business experience for both BTB and BTC Proprietary and confidential. Do not distribute.
- 12. Most of the brands just mentioned continue to outperform the market Top 10 brands according to Interbrand’s 2011 ranking; stock information from Google 8 out of 10 top brands beat the S&P index S&P 500 Proprietary and confidential. Do not distribute.
- 13. Most of these brands get to experience benefits others cannot Proprietary and confidential. Do not distribute.
- 14. Some more so than others Toyota Camry Lexus ES 2.5L Hybrid 2.5L Hybrid 200hp 200hp Georgetown, KY Georgetown, KY 43/39mpg 40/39mpg $26,500 $39,500 Source: http://www.toyota.com/camry/?srchid=sem|google|Camry|Car_Camry|Car_Camry_Base|Existing|Camry_MLP#!/panels2, http://www.lexus.com/models/ES/specs/ Proprietary and confidential. Do not distribute.
- 15. Some more so than others Toyota Camry Lexus ES 2.5L Hybrid 2.5L Hybrid 200hp 200hp Georgetown, KY Georgetown, KY 43/39mpg 40/39mpg $26,500 $39,500 Source: http://www.toyota.com/camry/?srchid=sem|google|Camry|Car_Camry|Car_Camry_Base|Existing|Camry_MLP#!/panels2, http://www.lexus.com/models/ES/specs/ Proprietary and confidential. Do not distribute.
- 16. But it isn‟t as easy it used to be when we all lived in a push world Brands are more difficult to build, understand and control… Source: LUMA Partners LLC
- 17. …which leads to chaos, confusion and trust issues CONFUSION Only 24% of consumers trust the ads they see CHAOS Over 50% of those surveyed said they thought marketing and advertising were out of control 94% trust word of mouth Even when exposed to a brand message 10+ times online, only 26% of consumers could recall it Consumers believe that 70% of brands could disappear without them taking notice Source: Fast Company, Hubspot, Nielsen, Emarketer, Havas Media, Prophet 40% of B2C and B2B marketers believe that they will have less control of their brand in 3 years 90% of marketing investments are in traditional mediums, but only 1 in 5 are getting the results they want Proprietary and confidential. Do not distribute.
- 18. Marketers are overwhelmed by the vehicles, choices and expertise areas they need to build Story over campaign Analytics „connects the dots‟ Marketing Agility Experience matters Device integration Knowledgesourcing communities Power of social media E-commerce Richer dynamic media Smarter web Digital personal assistants Short-form content Mobile maturity Marketing automation Digital identity mgmt, privacy, and security Brand partnerships Location-based services & nearfield comms Hypertargeting Multiple devices Deck Title Wearable devices Proprietary and confidential. Do not distribute. not distribute. 17 Proprietary and confidential. Do
- 19. And they know that Millennials are changing the game… Talk value matters more than ever, especially among millennials who live in a video-on-demand-on-the-device-oftheir-choice world. Average times per week that a consumer mentions specific brands in conversations with friends, family and co-workers Percentage of consumers who consider buying the brand, product or service recommended by a brand advocate Percentage of Facebook and Twitter followers, respectively, who are more likely to recommend brands after becoming a follower Proprietary and confidential. Do not distribute.
- 20. …and the role of community and peer influence is here forever WHAT MAKES YOU AWARE? WHAT MAKES YOU BUY? Awareness Driver Purchase Driver Advertising (TV, print, online ads) Most Friends and family who volunteered their opinion Observing people use product/brand Research conducted online Friends & family from whom you sought out opinions Information at store or on-shelf Company's website Promotion/sponsorship from the company Sales material by company that came to you Product reviews by experts, peers Research conducted offline Sales material by company that you sought out Salesperson at point of sale Direct mail with special offer from company News media Email/text message with special offer from company Telemarketing with special offer from company Least Friends & family from whom you sought out opinions Most Friends & family who volunteered their opinion Research conducted online Promotion/sponsorship from the company Product reviews by experts, peers Company's website Information at store or on-shelf Research conducted offline Observing people use product/brand Advertising by the company Sales material by company that you sought out Sales material by company that came to you Direct mail with special offer from company Salesperson at point of sale News media Email/text message with special offer from company Telemarketing with special offer from company Least Source: Jack Morton : The Year of Experience Brands Proprietary and confidential. Do not distribute.
- 21. InI knowNetworked Era, an this really anyof touchpointsor 50 the this is confusing, but is explosion different than 20 is years ago? now the norm Word of Mouth Influencers/ Ambassadors Friends & Family Wiki Blogs Online Community Call Center Books Steve Jobs Apple Website PR Online Training Spons orship Downloads Advertising Account Mgmt RSS Gift Certific ates TV Adverti sing Print Social Networks (Facebook) RSS Billbo ards Worldwide Developers Conf. Endo rsem ent Bill Me Later Prom otion Events Starbucks Partnership Nike Tours Email Apple Expo MacWorld Expo Product Feature Design AS/ Warranty Independent Resource Providers Extension Social Software (ebay/ Amazon) Workshops Apple Store Purchase Experience Authorized Reseller CGM Merchandise Sales Rep Genius Bar Display Customer Service Billing Statement CGM Reviews Proprietary and confidential. Do not distribute.
- 22. However, is confusing, but is this really any different than 20 or of I know this a time tested approach can make sense 50 years touchpoints these ago? Word of Mouth Influencers/ Ambassadors Friends & Family Wiki Blogs Online Community Call Center Online Training Books Steve Jobs Social Networks (Facebook) Apple Website PR Spons orship Downloads Advertising Account Mgmt RSS Gift Certific ates Advocacy Worldwide Developers Conf. TV Adverti sing RSS Billbo ards Print Awareness Endo rsem ent Bill Me Later Prom otion Events Starbucks Partnership Nike Tours Email Apple Expo MacWorld Expo Product Feature Design AS/ Warranty Extension Trial/Usage Independent Resource Providers Social Software (ebay/ Amazon) Workshops Apple Store Purchase Experience Authorized Reseller CGM Merchandise Sales Rep Influencers Genius Bar Display Customer Service Billing Statement CGM Reviews Proprietary and confidential. Do not distribute.
- 23. Strong brands get customers to do things others don‟t • 60% of customers prefer to buy new products from a brand they know well • 25% of customers state price does not matter if they are buying a brand they are loyal to • Brands with high advocacy get 264% more earned media impressions than average brands • Millennials and Gen We influence a lot Proprietary and confidential. Do not distribute.
- 24. Strong brands get customers to say… Proprietary and confidential. Do not distribute.
- 25. We all know it takes a significant investment to build a strong brand… Proprietary and confidential. Do not distribute.
- 26. …but that investment can evaporate if not managed well Proprietary and confidential. Do not distribute.
- 27. PATH TO BECOMING A GREAT BRAND: IT‟S REALLY NOT SO NEW OR NORMAL Proprietary and confidential. Do not distribute.
- 28. There are five tenets for building strong brands Relentlessly Drive Brand Relevance Be Clear on Your Purpose Become Famous for Something Create Seamless Experiences Arm Your Communities Proprietary and confidential. Do not distribute.
- 29. Be clear on your purpose Know what you want to accomplish. Align business and brand strategy. Understand your target segment and where the gaps are. Build a brand that will disproportionately win with those segments Proprietary and confidential. Do not distribute.
- 30. Become famous for something Get talked about, make your brand fascinating and disruptive relative to those around it. Keep banging the drum. Earn your media and use your culture to your advantage Proprietary and confidential. Do not distribute.
- 31. Arm your communities Leverage employees and loyal customers as allies— Millennials can make or break you. Give them a reason to love you and influence others to do the same Proprietary and confidential. Do not distribute.
- 32. Create seamless experiences Give customers what they want through any channel, in ways that make them remember on- vs. offbrand behaviors. Leverage a consistent identity to build and maintain brand loyalty Proprietary and confidential. Do not distribute.
- 33. Relentlessly drive brand relevance Think bigger than incremental improvements to constant innovation to stay relevant. Leverage the brand to reach new segments, new emotions and greater partnerships Proprietary and confidential. Do not distribute.
- 34. Link Proprietary and confidential. Do not distribute.
- 35. We have seen all of these work well together Relentlessly Drive Brand Relevance Be clear on your Purpose Become Famous for Something Create Seamless Experiences Arm Your Communities Proprietary and confidential. Do not distribute.
- 36. Staples was seen as undifferentiated and faced competitive threats “SEA OF SAMENESS” OFFICE SUPPLY WAREHOUSE Price Focused Frequent Sales Wide Selection Massed displays Proprietary and confidential. Do not distribute.
- 37. A new purpose was found DEMANDERS RELATIONSHIP DRIVEN ENTHUSIASTS EFFICIENCY SEEKERS Segmentation applied across key targets: from small business and power users EASE OF DOING BUSINESS more important than lowest price HASSLE-FREE buying experience MAXIMIZE EFFICIENCY in terms of time/effort Proprietary and confidential. Do not distribute.
- 38. Became famous for being “easy” ―That was easy‖ campaign brought the brand positioning to life by making problems go away with the push of a button After the campaign store sales rose 5% and customer satisfaction increased dramatically Brand awareness spread even to out of category purchasers with the ―easy button‖ which generated $7.5M in sales Proprietary and confidential. Do not distribute.
- 39. Turned communities into brand ambassadors Created a new service approach for floor staff: Engage, Ask, Show, Always Yes Changed way leadership communicated internally – from technically correct to better focused, including the brand voice (wit and polish) Store managers spent ~20% less time in the back office reallocated that time to be on the floor helping colleagues and customers Proprietary and confidential. Do not distribute.
- 40. Developed a “hassle-free” experience “PRODUCTIVITY EXPERT” New Solutions Free Delivery Loyalty Programs Interactive Displays Education Mobile Ordering Online order and in-store pick-up Office product buyers needed an expert to help them navigate a vast array of category choices Proprietary and confidential. Do not distribute.
- 41. Continues to differentiate a relevant brand Staples became the #1 office supply retailer, surpassing OfficeMax and Office Depot Store sales growth outpaced the leading competitor by 10-15% over a seven year period Staples continues to profit and refocus on online retail, while competitors continue to sink and consolidate Source: WSJ, Thompson Reuters, The Boston Globe Proprietary and confidential. Do not distribute.
- 42. We have seen all of these work well together Relentlessly Drive Brand Relevance Find your Purpose Become Famous for Something Create Seamless Experiences Arm Your Communities Proprietary and confidential. Do not distribute.
- 43. Scott Davis Chief Growth Officer sdavis@prophet.com @scottdavisshift (312) 878-4934 Prophet prophet.com
Notas del editor
- Brand Index:Is a company committed to tracking the status of thousands of brands every day with real time reports of public perceptionsThey are one of the rare real-time researchers that track everything from “brand buzz” to purchase intentTheir research distinguishes awareness between paid and earned media, and has a great focus around the traditional purchase funnelEvery year they release the 25 most talked about brands of the year
- Over the last 5 years the total value of the top 10 brands has also increased by over $300B
- The Toyota Camry was the most popular car sold in the United States last yearIt’s hybrid model has 200 system horse power and about 40mpg City/Highway combinedIt sells for $26,500 according to Toyota’s WebsiteThe 2013 Lexus ES is being manufactured in the same town, Georgetown Kentucky and is built on the same cassis with the same engineThe stats and add-ons between the two are almost exactly the same, but the emblem on the front increases the price by $13,000Note: these are the base models for each car, so the perforated leather seats are not included with the Lexus ES shown
- The Toyota Camry was the most popular car sold in the United States last yearIt’s hybrid model has 200 system horse power and about 40mpg City/Highway combinedIt sells for $26,500 according to Toyota’s WebsiteThe 2013 Lexus ES is being manufactured in the same town, Georgetown Kentucky and is built on the same cassis with the same engineThe stats and add-ons between the two are almost exactly the same, but the emblem on the front increases the price by $13,000Note: these are the base models for each car, so the perforated leather seats are not included with the Lexus ES shown
- Less than a quarter of consumers trust the ads they see, but the vast majority trust their peersFew brands have broken through – with only 26% of consumers remembering messages that are exposed to several times, while 70% won’t notice when brands are goneFinally, marketers and consumers alike feel like marketing is out of control: with many that they have less control of their brand and even fewer desired results
- The sheer amount of options most brands have when it comes to choosing a marketing weapon can be mind boggling. I am going to focus on the ones that are both most relevant and most impactful if tackled effectively
- There is one messaging system however that clearly works: Talk valueIt’s primarily dominated by social media and adopted by millennials Future generations will continue to be involved in this constant communication
- An explosion in not just the number of, but also the power, and increasing influence of a myriad of stakeholder types
- Apple is a good example of a company that has unlocked the value and power of its brand network. First, Apple has a clear set of business objectives that forces management to continuously update its historic brand promise: to develop elegant products that integrate hardware and software in such a compelling fashion that consumer demand can reshape markets and consumer use can enable new behavior patterns. With every new product launch, techies, retailers, bloggers, journalists, and consumers anticipate what ’ s next.Apple’s second bead on developing networks is its clear understanding of the needs of key stakeholders:In addition, Apple builds its networks by aligning its commercial interests with those of its customers, partners, external influencers, and other companies. It also listens to its network through its Genius Bars
- Source: Neilson, Also a great source for brand facts: http://www.factbrowser.com/tags/brands/
- Companies like Tiffany’s build a strong brand over years of due diligenceThey understand their customers and deliver a promise through signature experiencesThey are committed to success from the bottom up with dedicated employeesBest of all they are dynamic and change appropriately to win in the marketplace
- LululemonChip Wilson,Founder and chairman of Lululemon stepped down after making degrading remarks about the size of customersIt didn’t help that in the same year Lululemon released see-through yoga pantsRepublican senator Chris CristieChris Cristie, Republican senator of New Jersey, is being scrutinized for his use of public funds to further his own agendaWhile all US politicians are under scrutiny, Chris is a front runner for presidential nominationIn both cases the parties failed to proactively control the conversations about their brands
- Amazon:To start, Amazon was a book seller, but Jeff Bezos looked at it as the first major online retailer – that was it’s purposeAmazon quickly became famous for it’s cheap and timely shipping, as well as the Kindle, and for putting brick and mortar stores like Borders out of businessAmazon has created legions of followers from it’s excellent customer service, and it’s amazon prime membershipsAmazon allows users to purchase from any device, and stream videos to most devices, they can ship anywhere and are happy to cater to customer needsFinally, amazon is not stopping, but innovating with new business acquisitions, closer ties to the android marketplace, and new online services
- Special KWhile the brand has been around for over 55 years it continues to be relevant today.More recently the “Special K Challenge” turned into a real stance on women’s health: since then special K and it’s products have focused on being healthier for the average womanLike Dove, their best ads feature issues in women’s health and less on productsEven their website more actively promotes their campaign against “Fat Talk” than any of their productsUSGUSG is a very old B2B construction company that continues to drive brand relevance todayThey have overcome issues with asbestos ceilings and a construction slowdown during the financial crisis, but they persist by partnering with relevant firms to keep people aware of their brandMost recently they have partnered with the Olympic games ti build most of the facilities and have effectively messaged around it, not only because it was a big achievement, but because like the Olympic athletes they are go getters who are responsible for “building” tomorrow
- We have all heard our wives or daughters say some thing like “I look fat in this dress” or “I’ll eat this because I’m a fatty”“End Fat Talk” is a campaign to help women stop putting them selves down for how they look and eatSpecial K believes that “Fat Talk” is a barrier to weight management successThe goal is to have positive thinking out-weigh these self degrading statements about one’s own weightNotice that this dominates their webpage and that it is almost difficult to find product information, their commitment is to the health of their customers in this case; not their products
- After 15 years of category creation and leadership, Staples found themselves in a precarious situation and believed uncovering a unique brand promise was imperative
- Staples divided their customers into four segments and repurposed them selves based on the needs of a target segmentBy providing a hassle free experience Staples was able to win with many more customers instead of being the undifferentiated retailer that it was before
- With their “That was Easy” campaign they brought this new positioning to lifeBut they didn’t just communicate the positioning, they improved the store experience for all types of customers, In some cases including the same products in multiple places in the store, recognizing that school teachers, artists and office managers would go to different parts of the store, looking for the same thing
- Staples converted their leadership and their employees to a more supportive cultureThey changed their communication, their service approach, and even their leadership behaviors to better engage each other and their customers
- Staples really differentiated themselves by owning a seamless experience that others have been slow to imitateStaples used loyalty programs, interactive displays, and free shipping a priority to stand apart from the crowdToday they continue to differentiate by moving their operations online and making ordering easy with hassle free apps
- Impact:Just last year (November 2013) Office Depot and Office max completed a merger, they each also posted second quarter losses of $65M and $10M respectively. Staples Had a 3rd quarter profit of $132MStaples is currently closing stores and repositioning for an online consumer while it’s competitors are suffering losses.