I've heard and read too much about how to strive to be authentic in order to help build your brand. The path to achieve branding Nirvana, according to self-proclaimed experts, too often journeys through the need to understand your brand values and then act in "authentic" ways to support those values.
I think maybe the people putting forth this drivel are 180-degrees out of phase.
Have they ever stopped to consider that perhaps strong brands arise from living authentically according to values that are core to the organization before any marketing is considered?
Strong brands naturally flow from adherence to clear organizational values, beliefs and behavior... not the other way around.
Thursday, February 22, 2007
Thursday, February 08, 2007
Revitalize your brand and refine your communication strategy
Luth Research and MiresBall in conjunction with the American Marketing Association have recently released a "State of the Brand Report" that reports some interesting information about the current state of branding. According to the report, branding has become more important to companies than ever before and marketing spending, on average, is up to 11% of annual revenue. Of the companies surveyed, 8 out of 10 brands were revitalized in the last 5 years thus underscoring the need to keep brands relevant.
As I discuss in my e-book, "How to Build and Maintain a Powerhouse Brand", regular brand audits are necessary to assess the health of your brand. Your brand equity constantly changes in comparison to your competition just as society's values and perceptions change constantly. When the image and brand equity of your brand in the marketplace is not consistent with the image you are trying to create, then you must refine your branding strategy and project the newly refined identity.
The "State of the Brand Report" stresses the importance of being committed to the ongoing maintenance of brands. Brand owners are also encouraged to break away from traditional brand communication strategies due to the explosion of new communications outlets and subsequent media fragmentation.
The study, among other things, reports that the most important brand communication vehicles currently are (in order):
1. Word-of-mouth
2. Web & interactive
3. Customer service
4. Public relations
5. Print advertising
6. Internal communications
7. Corporate communications
8. Promotional events
9. Co-marketing
10. Community and affinity groups
11. Direct mail
12. Sponsorships
13. Broadcast advertising
14. Packaging and POP
15. Outdoor advertising
The report is well worth your time to read.
As I discuss in my e-book, "How to Build and Maintain a Powerhouse Brand", regular brand audits are necessary to assess the health of your brand. Your brand equity constantly changes in comparison to your competition just as society's values and perceptions change constantly. When the image and brand equity of your brand in the marketplace is not consistent with the image you are trying to create, then you must refine your branding strategy and project the newly refined identity.
The "State of the Brand Report" stresses the importance of being committed to the ongoing maintenance of brands. Brand owners are also encouraged to break away from traditional brand communication strategies due to the explosion of new communications outlets and subsequent media fragmentation.
The study, among other things, reports that the most important brand communication vehicles currently are (in order):
1. Word-of-mouth
2. Web & interactive
3. Customer service
4. Public relations
5. Print advertising
6. Internal communications
7. Corporate communications
8. Promotional events
9. Co-marketing
10. Community and affinity groups
11. Direct mail
12. Sponsorships
13. Broadcast advertising
14. Packaging and POP
15. Outdoor advertising
The report is well worth your time to read.
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