Branding Part 1

Definition of Branding …”your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from that of your competitors. Your brand is derived from who you are, who you want to be and who people perceive you to be.” Source:

Developing your brand Get a great logo. Place it everywhere. Write down your brand messaging. What are the key messages you want to communicate about your brand? Every employee should be aware of your brand attributes. Integrate your brand. Branding extends to every aspect of your business--how you answer your phones, what you or your salespeople wear on sales calls, your e- mail signature, everything. Create a "voice" for your company that reflects your brand. This voice should be applied to all written communication and incorporated in the visual imagery of all materials, online and off. Is your brand friendly? Be conversational. Is it ritzy? Be more formal. You get the gist. Develop a tagline. Write a memorable, meaningful and concise statement that captures the essence of your brand Design templates and create brand standards for your marketing materials. Use the same color scheme, logo placement, look and feel throughout. You don't need to be fancy, just consistent. Be true to your brand. Customers won't return to you--or refer you to someone else--if you don't deliver on your brand promise. Be consistent. This tip involves all the above and is the most important tip on this list. If you can't

Put Apple to the test… iMac iPod iPhone iPad iTunes How well does it do with the following? logo tagline(s) integrated marketing consistency employee know key messages consistent design be true to your brand—meet the promises

Consider: ◦Would a desk clerk at a Motel 6 and a Ritz Carlton be wearing the same clothes? ◦A Honda and a Ferrari salesperson? Every aspect of the business should reflect the brand image the company wants to communicate.

A Red BullRed Bull It was founded by an Austrian named Dietrich Mateschitz. He insists that this is a drink that, quote, "improves performance," whatever that actually means. And in making that insistence, he put a premium price on it. He's a branding guy at the core and you can tell that from the whole trajectory of Red Bull. You know, yesterday's jump is just a 25-year culmination of a brand image that is in its success is unrivaled in recent memory. It's not one of the world's great brands.

Red Bull Historic Jump Unmistakable on Baumgartner's helmet, his pressurized suit and his parachute, the Red Bull name and logo. This was the Red Bull stratos-mission, seven years in the making and just the latest splashiest venture for the energy drink company that's taken branding and sponsorship of extreme sports to bold new levels. Red Bull 2014 Red Bull 2009

Ranking the Brands 2014 Millward Brown Top Brands “Millward Brown's brand valuation analyses provide strong evidence of the importance of branding for business leaders. Brand is about reputation. A brand generates trust for a company, for its products, and for its services. The brands mentioned in the BrandZ top 100 list are the world's most trusted brands.”

financial value + ability to create brand loyalty = BRAND VALUE

“Brand equity is that incremental value that accrues to a product when it is branded.” How much more will a customer pay to get the brand when a similar product is the same but doesn’t have the brand name? “twins” except for the branding Example: Geo-Prizm & Toyota Corolla *Source:

3 Sources of Brand Equity Brand awareness Attributes (features) Cachet/Prestige Which one is most valuable?

Findings Srinivasan found: 1. awareness-“getting the brand to pop up in consumers’ minds” 2. Cachet-image, prestige 3. Attributes “But greater awareness of your brand is the major component driving brand equity.” Purpose of study: helps evaluate alternative branding and marketing strategies *Source:

“At its very core, marketing is storytelling. The best advertising campaigns take us on an emotional journey—appealing to our wants, needs and desires—while at the same time telling us about a product or service.” * Source: “Brand Storytelling: Connecting With Your Audience” tank/brand-storytelling-connecting-your-audience iPhone (haircut) Happy Grad (SuperBowl ad) Axe PeaceAxe Peace BudweiserBudweiser Doritos

“You must understand how your brand emotionally resonates with customers and then position your message in the right place to tell the right story at just the right time.” *Source: “Brand Storytelling: Connecting With Your Audience” tank/brand-storytelling-connecting-your-audience Boeing Storytelling (B-B) Intuit Storytelling (B-B) BLOG BEST Corporate Storytelling

Goal of Brand Storytelling Customer transitions from: Awareness—consumers are aware of the product Trial—consumers try the product Advocacy—consumers convince others about the value use of the product or service part of the users’ personal story *Source: “Brand Storytelling: Connecting With Your Audience” partin/work-tank/brand-storytelling-connecting-your-audience

“To be a successful brand storyteller, you must first understand how your brand’s products and services meet a customer’s emotional needs.” “Even Business-to-business products and services fulfill emotional needs: I will get promoted. I won’t get fired. I’ll be a hero if this works.” *Source: “Brand Storytelling: Connecting With Your Audience” partin/work-tank/brand-storytelling-connecting-your-audience