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Branding Looks Good Rev B

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Branding Looks Good Rev B

  1. 1. Branding<br />How brand awareness will increase your profitability<br />
  2. 2. The Value of Being Known<br />What is the first business that comes to mind when you think of cola, fast food, soup or home improvement.<br />75% of people surveyed related Coca-Cola to cola<br />75% of people surveyed related McDonalds to fast food<br />90% of people surveyed related Campbell’s to soup<br />85% of people surveyed related The Home Depot with home improvement.<br />The marketing success which drives the marketing success of these exceptional businesses is:<br />Be known before you are needed.<br />Data from Summer 2009 Toledo Branding Survey<br />
  3. 3. What it Means to be “Known”<br />In the context of building a business being “known” means building your band so potential customers know who you are, what you do and why you are better then competitors, before you’re needed.<br />95% of people surveyed said they’d be more likely to use a business that came to mind first.<br />That means if you are not branded when they enter the buying cycle, you have a 95% chance of losing to your competitor who is branded.<br />To achieve this, your business mush have good Brand Awareness with your potential customers.<br />Data from Summer 2009 Toledo Branding Survey<br />
  4. 4. Business Categories<br />There are two business categories that effect Brand Awareness and Effective Marketing:<br />Non-mature<br />No dominant leader established (yet)<br />High no-response rate, many people don’t know of any business in the category<br />No “Category king” – it will be less expensive to dominate a category now, you could be this category leader in 10 years<br />Example: Typically the Chiropractor category has an 85% no-response rate<br />Mature<br />Dominant leader established<br />Low no-response rate, nearly everyone is familiar with a business in the category<br />Home Depot is a “category-king” but 10-15 years ago, the Home Improvement category was non-mature<br />
  5. 5. Local Brand Awareness<br />Locally, how do you get Brand Awareness like national brands?<br />There are four ways to do this:<br />Consistency in your message and marketing.<br />Influence consumers with Intrusive Media.<br />Get more Relational Customers for Higher Profitability.<br />Avoid the five causes of Advertising Failure.<br />
  6. 6. Achieving Brand Awareness<br />Effective Brand Awareness is achieved with Consistency Throughout the Product Cycle.<br />People encounter about 3,365 advertisements daily.<br />Will they forget yours when they go to sleep?<br />Long-term, consistent advertising is essential to success!<br />With consistency you will be able to imprintyour business into consumers minds.<br />
  7. 7. Achieving Brand Awareness<br />Consumers Are Either In or Out.<br />However, they are always in the purchase cycle. They fall into one of two groups:<br />They are in the market to buy right now<br />They aren’t in the market, but may be in the future. They may also influence others that are in the market right now. (Word of Mouth)<br />
  8. 8. Two Forms of Media<br />Passive Media (Newspaper, Magazines, Internet, Billboards & Yellow Pages)<br />Useful only for consumers who are actively seeking product right now<br />Useless if consumer already has someone else in mind<br />Intrusive Media (Radio & Television)<br />Reaches EVERY potential consumer, those who need it now or may in the future<br />Establishes Branding Awareness!<br />Home Depot is a national leader in its business category, and they advertise almost exclusively with Intrusive Media. <br />Look in the Yellow Pages, how big is the Home Depot ad?<br />
  9. 9. The Power of Radio<br />Intrusive Media is so powerful that that government ruled that Tobacco couldn’t use it to advertise, but 40 years later, most people can still complete the slogans:<br />“I’d walk a mile for a _________”<br />“_________ tastes good like a cigarette should”<br />Can you finish this song?<br />“Two all beef patties, special sauce, lettuce, cheese, pickles, onions on a sesame seed _____”<br />
  10. 10. What Consumers Said<br />The survey showed that an alarming 56.2% of yellow page users already have a business in mind when they open the book!<br />Consumers pass over ads of businesses unknown to them.<br />80.1% of the people say they would choose a business with a small ad that they have heard of over a business unknown to them that had a larger ad.<br />Only 5% say they would choose the unknown business with the larger ad.<br />Cutting back on the size of a newspaper or yellow page ad to buy Radio increases overall:<br />Reach<br />Frequency<br />Impressions<br />Brand Awareness<br />Branding with intrusive media is what makes this happen!<br />Data from Summer 2009 Toledo Branding Survey<br />
  11. 11. Types of Consumers<br />Roy Williams said “Reach your core customer…” and there are Two Types of Consumers:<br />Transactional Customers<br />Purchase based on price alone<br />No business loyalty<br />Consider themselves to be the product “expert”<br />Typically the type of customer that complains more, returns more etc.<br />Transactions yield less profits because they only purchase at marked down prices or rates<br />Relational Customers<br />Find a business and are very loyal<br />Seek a trustworthy expert; you as the business owner<br />Not as concerned with price savings as they are with the purchasing experience<br />Appreciates the relationship established between themselves and the business<br />Business yields more profits because they will purchase at full or near to full price<br />
  12. 12. Influence vs. Reach<br />Influence is More Important than Reach!<br />You can influence the entire market population 10% of the way with little results.<br />OR<br />You can influence 10% of the market population 100% of the way with greater results.<br />
  13. 13. Influence in Local Markets<br />Someone will become the dominant figure in each non-mature category<br />Someone will gain larger market share by finding a niche in each mature category<br />Everyone has the opportunity to boost their Share of Mind and Brand Awareness<br />A branding campaign will increase your mind share and ultimately your profitability<br />Will it be You?<br />Data from Summer 2009 Toledo Branding Survey<br />
  14. 14. The 5 Reasons Advertising Can Fail<br />Targeting the wrong people<br />Your media schedule is so thin or fragmented that it doesn’t penetrate the minds of the target audience. <br />Bad Creative – The message and presentation has to be memorable<br />Marketing or internal weakness with your business – Signage, location, sales-force, product, service, etc.<br />Your expectations aren’t realistic – What will constitute success?<br />
  15. 15. Increase Your Mind Share<br />Consistency<br />Build a long term relationship with your customers and potential customers and brand with a consistent message.<br />Duration<br />The desire for “Instant Gratification” is among the top reasons for advertising failure. Stick With It! You can’t stop! Long term advertising pays off! <br />Influence<br />Intrusive media can influence consumers in and out of the buying cycleThere is no wasted advertising.<br />It isn’t about “Reach”<br />Influence 100% of who you can afford, then Grow!<br />Increase Brand Awareness<br />Create a USP (Who, What and Why You?)Consistently remind people using intrusive media.<br />Relational Customers<br />Are you reaching your core customer<br />Avoid the 5 Reasons for Advertising Failure<br />
  16. 16. Thank You<br />We look forward to helping your business increase its share of mind and profitability!<br />Let’s take a look now at how your business did, or did not do, in our local research.<br />But first, let’s answer these questions.<br />Do you think your business is in a Mature or Non-Mature Category?<br />What’s unique about your business that will distinguish you in your category?<br />Who do you think is the leader in your Category?<br />Contact Name<br />E-mail@cumulus.com<br />419.725.5700<br />
  17. 17. Thank You<br />We look forward to helping your business increase its share of mind and profitability!<br />Let’s take a look now at how your business did, or did not do, in our local research.<br />But first, let’s answer these questions.<br />Do you think your business is in a Mature or Non-Mature Category?<br />What’s unique about your business that will distinguish you in your category?<br />Who do you think is the leader in your Category?<br />Contact Name<br />E-mail@cumulus.com<br />419.725.5700<br />

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