Many people talk about the pressures on brands to perform and about the difficulties of staying relevant, competitive in huge and ever rapidly changing markets. However, if demand generation is part of your role, here are some of the eight pointers that you can be doing to retain reputation, make the most of upswings in economies and consumer preferences, boost your brand and stem decline.
Brand building Basics
1. Be part of a rising category – According to Millward Brown, “most apparel brands for instance, grew by 29% last year, “he says. He adds, “If you have brands in this or another of the rapidly growing sectors, that’s a clear prompt to be investing to meet what, is clearly increasing interest,” Millward adds. Therefore, if you do not have brands in one of the rising categories, there some ways you can extend your brand into these rapidly escalating categories through acquisition, licensing, partnership and co-branding.
2. Be part of a resurgent economy – If your brand is spread across various regions, it makes sense to focus on those areas of the region or world where there is inherent economic growth driven by rising consumer confidence e.g Gauteng province has faced economic growth than other provinces. To ride the wave, look for ways to get a foothold by working with an established player to increase their stock range or through an agency arrangement. Also, introduce finest lines to take advance of rising aspirations.
3. Tackle social issues –Many sectors are fighting reputational issues currently. Brands in areas like fast food, restaurants, soft drinks and food outlets need to directly, address their social impacts or risk being disturbed by healthy challengers. Equally, brands with potential ethical issues – social, health-related, environmental, behaviour based or that involve processes that people feel strongly about such as animal cruelty – are going to need to prove that they are vigorously reducing the downsides of what they do. Then Muller states that, “addressing reputational issues won’t necessarily mean growth, but it will help arrest declining sales,” he says.
4. Increase share of life not just share of market by extending and integrating ecosystems. Apple Company is the masters of this approach, “closing loops between product and content in order to retain control and to encourage consumers to stay and shop within their universe,” says Millward Brown. He adds : “By diversifying into new areas of interest and maximizing brand equity as they do so, brands can look for smart ways to be more involved in every person’s every day,” Brown says. Observing this approach, Nigel Hollis states that,”Apple spans our needs for entertainment, music and productivity. Amazon fulfills our need for convenience with effortless one-click shopping and relevant purchase recommendations for stuff we never knew we wanted, “he says. Furthermore” a company like Nike, with its Nike+Fuelband, has transformed itself from a mere apparel brand to a companion and coach for runners.” Nigel Hollis says. They do this, through what they offer and what they socialize.
5. be more convenient – By skillfully and increasingly, merging physical interactions and digital. Seamless experiences also cut the friction that slows down sales and/or distracts customers into going elsewhere, mainly as digital tools play an increasingly vital role in customer journeys. According to McKinsey, “Digitization is steadily becoming the main pathway for consumer journeys”. He adds: ” The number of digital touch points is increasing by 20 percent annually as more offline consumers shift to digital tools and younger, digitally oriented consumers enter the ranks of buyers … The greater number of touch points before purchase increases the odds a consumer will encounter a deal breaker along the digital highway,” McKinsey says.
6. Personalize and localize – By bringing brands back to an area that people identify and turning up the sense of uniqueness, even the biggest brands in the world can find ways to make themselves much more direct to customers. This does not have to be high-tech. Coca Cola’s highly effective and simple named labels, is part of its hugely successful coke campaign. It demonstrated how enhancing the sense of high-touch could change people’s sense of ownership. According to Muller,”global brewers have also established that introducing niche, craft products tailored to individual markets and tastes has allowed them to tell a counter-story to their many micro-challengers”. Sometimes the best and effective thing you can do as a global or local brand in a specific market is to act small.
7. Beautify – Fashion never sleeps. We live in a highly visualized globe where our eyes are used to a fast changing visual. Continue to adjust and review the style and design of your products and your advertising so that your brand feels relevant and “now”. Muller says,”This is hard, but not impossible, for brands with long lead times – but it is also relative, and chances are your competitors face the same logistical issues that you do”. He further states that , “By continually checking the appeal of what you offer, you can introduce your brand to new segments – as Heineken did, when they added a longer neck to appeal to younger drinkers – and resist the downward pricing pressure that inevitably accompanies products that feel ‘tired’ , ” says Muller.
Want to know the one thing that every successful digital marketer does first to ensure they get the biggest return on their marketing budget? It’s simple: goal-setting. This is an absolutely essential practice for any digital marketer who knows how to execute their campaigns in a productive, cost-effective way. With a few. With a few simple tips, you can be doing the same in no time! In this blog, we’ll walk you through the first steps every savvy digital marketer takes to ensure that they’re on target to hit all their marketing objectives. Get ready for revenue!
Remember: even if the channel you’re considering is all the rage right now, it might not fit your brand. Always make informed decisions that directly relate to your company. Otherwise, your message won’t be delivered to its intended audience and you’ll have wasted time, effort and money.
Know Your Digital Goals
The first step is clearly identifying which goals you want to achieve. Get specific. Do you want to increase brand awareness? Are you all about locking in leads? Do you want to establish a strong network of influencers that can help you be discovered? How about pushing engagement on social media?
A useful tool for narrowing down your goals to ensure they’re viable is the SMART mnemonic. It’s important to get specific to understand exactly what you’re working towards, and help you break down the process of hitting your targets. This is exactly what this mnemonic helps you to achieve.
- Does the channel reach my intended audience?
- Is the channel sustainable and affordable within my company’s marketing budget?
- Will I be able to measure the success of the channel?
- Does the channel allow me to express my brand’s intended message?
- Do the channels I’m considering work together to convey my message?
Always Remember Your Goals!
Establishing a solid vision for your business is the first step to planning your digital marketing budget. Always keep your final goals in sight when organising anything for your company. When deciding which steps to take next in your business, ask yourself how they will help you achieve the goals you outlined in Step #1. This will ensure that you stay on track and prevent you from spending your budget on anything that won’t help you achieve.
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As your budget progresses and evolves, continue referring to your SMART objectives. Stay focused and remember your goals – they will always inform what your next step will be!