2011 777 - Adding Value to Your Brand and Business
Upcoming SlideShare
Loading in...5
×
 

Like this? Share it with your network

Share

2011 777 - Adding Value to Your Brand and Business

on

  • 1,051 views

As a business owner or leader, you are constantly subjected to competition from many sources. Falling victim to the demands of today's market can leave your company unprepared when priorities begin to ...

As a business owner or leader, you are constantly subjected to competition from many sources. Falling victim to the demands of today's market can leave your company unprepared when priorities begin to collide. Whether you are a small or large business, owner or employee, consultant or advisor, working ON your business rather than IN your business will help you begin to build value in your brand. This panel of seven experts will share seven simple ideas and tips that any company can immediately implement to add value to their brand and business using social media, new marketing ideas and other brand building techniques.

The seminar is organized by UVM's Vermont Family Business Initiative

Statistics

Views

Total Views
1,051
Views on SlideShare
1,050
Embed Views
1

Actions

Likes
0
Downloads
32
Comments
0

1 Embed 1

http://paper.li 1

Accessibility

Categories

Upload Details

Uploaded via as Microsoft PowerPoint

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment
  • - For survival you must think of a brand as a living thing, and treat it as such.- CONCIOUSNESS OF CHAOS
  • - All brands are conceived. - It could be a lifelong dream, strategic plan, or a hallelujah napkin moment.- There is a period of gestation where the brand is formed.- They must be successfully born. There are many obstacles that must be overcome before the brand is born but not nearly as many as it will face when it’s out in the world.
  • - As soon as a brand is born it is fighting for life.- Sometimes it can’t even be described as a brand yet, but you must always act like it is.- Adapting to the environment is what makes brands successful and long lived..Bringing a positive difference to the environment they are in.\\ Have empathy for your environment.
  • - Relationships with customers,vendors, and employees.- Everyone has to stand for something. Not everyone will agree, but having a polarising opinion is better than having none at all.- Every person has a unique identity (look) and personality. Twins are kinda freaky and hard to tell apart. Ask yourself if you would want to hang out with your brand. More importantly, ask yourself if your brand would want to hang out with you. Are you your brand? What are you not? Some of the people all the time……
  • We live in a fast paced culture of change. Everything that happens is directly affected by choices people make (or think they make). Brands that can keep up with this change will survive. Brands that LEAD this change will thrive.
  • Do you want to be the 300 million brand or the 30 million brand? Both brands emerged at around the same time. They both had a very similar brand offering. One brand demonstrated constant evolution through reinvention, adapting to, and leading, cultural changes. This brand thrived and is still going strong.
  • Question every decision. Don’t fall into the trap of knowing how to do something because you’ve done it before. Imagine that every time you do something, it’s the first time. Habit is the biggest obstacle to progress. Stay curious. See the world through new eyes.
  • Farm owned cooperative
  • Vermont Brand is a platform or ingredient to your brand/business. Further differentiates your brand and provides context to consumer.
  • Digital Media = much closer relationship betwn brands and customers; communicate brand character, authenticity. Consumers are attracted to brands much like people – confident, interesting, committed.

2011 777 - Adding Value to Your Brand and Business Presentation Transcript

  • 1. 7 Experts – 7 Tips – 7 Minutes
    Adding Value to Your Brand and Business
    May 25, 2011
  • 2. Ground rules:
    Each EXPERT will have SEVEN MINUTES to share their TIP.
    A one-minute warning will sound.
    Once the signal sounds, no more TIPS!
    Please hold all questions until the end.
    There will be approximately 30 minutes for questions and answers after all have shared.
    Questions should be directed to the moderator.
    Please keep track of TIPS on the back of your info sheet.
  • 3. Today’s moderator
    Veronica Williams
    hmc2 advertising
    www.hmc2agency.com
  • 4. John SiddleJDK Designjdk.com
  • 5.
  • 6.
  • 7.
  • 8.
  • 9.
  • 10.
  • 11.
  • 12. Steve Hill
    Magic Hat and North American Breweries
    magichat.net
  • 13.
  • 14. Creating CommunityWith Social Media
  • 15. Vermont has an advantage when it comes to business:
    Community
  • 16. As You Build Your Brand Within Your Community, Build It In an Online Community.
  • 17. Why Do it?
    -Spread the word of your business
    -Get referrals
    -Network
    -Get new ideas
    -Public forum for good customer service
    -You can choose your level of involvement and go at your own pace
  • 18. The Tools Are Free and Easy:
  • 19. Online connection creates a FACE & a VOICE behind your brand.
    Online connection creates a FACE and a VOICE behind your brand.
  • 20. The Voice of Magic Hat
  • 21. -People like feeling as if they’re a part of something --> Community.
    -Magic Hat created an online community at MagicHat.net (The People’s Place)
    -Then we got involved with Facebook and Twitter, and further grew our online presence in an organic way.
    -We constantly INTERACT with our followers. We ask THEM what beers they want, what they like/dislike, where we should conduct promotions…
  • 22. Why use Social Media?
    -140 million people in the U.S. are on Facebook, 40% of whom follow a brand.
    -51% of those following a brand will make a purchase
    -60% of Facebook users are more likely to recommend a brand they follow.
  • 23. Why Use Social Media?
    Why use Social Media?
    -61 million people in the U.S. use Twitter, 25% of whom follow a brand.
    -67% are loyal consumers of those brands.
    -79% of Twitter users are more likely to recommend a brand they follow.
  • 24. Some More Numbers
  • 25. What Can You Do to Get Involved?
    -Join a social network and get to know how it works.
    -Follow similar brands and learn from them.
    -Ask your friends to share your information
  • 26. What Can You Do to Get Involved?
    Show your customers that you’re online by branding your store, merch, packaging, etc.
  • 27. These small symbols are all it takes:
  • 28.
  • 29. There Is One Key to an Online Presence:
    There is One Key to an Online Community Presence:
    CONTENT!
  • 30. Content!
    -Use your Voice and your Face as a connection point to your consumers.
    -Plan to update your community pages on a consistent basis.
    -Ask Questions of, Listen to, Engage Your Followers!
    -Offer people something.
    -Anything relevant is fair game.
    -Don’t be a robot. Be human. Speak to people online as you’d speak to them face-to-face.
  • 31. Invest However You Want!
    -You can reach someone in 5 minutes, or you can reach someone in 2 hours. It’s up to you.
    -If you’re a small business, you don’t need to hire someone specifically for social media.
  • 32. If you’re thirsty after the Expo, head to the brewery for free samples, growlers and tours!
    Cheers!
  • 33.
  • 34. Dianne Hanlon-Druyff
    Kelliher Samets Volk
    ksvc.com
  • 35. Branding: sum total of parts
    A brand is the sum total of the thoughts, feelings, associations and expectations a prospect or customer experiences when exposed to any aspect of a company’s product or service, including its name, logo, the actual product experience, word-of-mouth, marketing, etc.
  • 36. Baxter’s Sandwich Shops
    Fresh
    Creative
    Fun
    Natural
    Home-made
    Local
    Fast/convenient
    Charitable
    Family-owned
    Unexpected
    Delicious
    Good value
    Friendly
    Clean
    Distinctive
    Organic
    Tech savvy
    Healthy
    Kid-approved
    Customer focus
    Sincere
  • 37. “The art of sacrifice”
    Desirable Supportable Ownable Sustainable
    “The art of sacrifice”
  • 38. Baxter’s Sandwich Shops
    Fresh
    Creative
    Fun
    Natural
    Home-made
    Local
    Fast/convenient
    Charitable
    Family-owned
    Unexpected
    Delicious
    Good value
    Friendly
    Clean
    Distinctive
    Organic
    Tech savvy
    Healthy
    Kid-approved
    Customer focus
    Sincere
  • 39. Baxter’s Sandwich Shops
    What makes Baxter’s special is our dedication to using only the freshestingredients, our wildly unexpected flavor combinations, and our commitment to making you a trulyhealthymeal.
  • 40. What does it take to get there?
    Invite the right people (key stakeholders) into the process – too many cooks… well, you know…
    Start big and broad, then do the hard work – the art of sacrifice
    Document what you’ve done in a statement – a declaration of your brand DNA
    Tell everyone in your organization and make sure they can articulate it – even if it is in their own words
  • 41. Brian Degen
    Fieldstone Consulting
    fieldstoneco.com
  • 42. Tip #1
    Investors will value a strong brand higher when it comes time to sell your business.
  • 43. Drivers of Company Value
    Profitability
    • Free Cash Flow (EBITDA)
    Stability of Profitability
    • Reduced investment risk
  • Reasons Powerful Brands are More Valuable
    Price premiums
    Referrals
    Profits
    Reduced operating costs
    Increased purchases
    $ Dollars
    Base profit
    Years as Customer
    Loyal Customers =
    • Higher profits
    • 44. More predictable revenues, less risk
    Source: Zero Defections: Quality Comes to Services, HBR
  • 45. Loyal Customers Pay More
    Example: Generic vs. Popular Brands
    32%
    Higher Price
    Advil
    200 mg Ibuprofen tablets (50)
    $6.99
    Equaline
    200 mg Ibuprofen tablets (50)
    $5.29
    Customers typically pay 5-10% higher for brand-name products
  • 46. Revenues $20 M
    Expenses ($18 M)
    EBITDA $2 M
    EBITDA Multiple 5.0 X
    Company Value $10 M
    46
    Calculating Company Value
    Weak Brand
  • 47. 47
    Higher Prices & Cash Flow
    Weak Brand Strong Brand
    HigherPrices
    Revenues $20 M $22 M
    Expenses ($18 M) ($18 M)
    EBITDA $2 M $4 M
    EBITDA Multiple 5.0 X
    Company Value $10 M
    10%
    100%
    GreaterCash Flow
  • 48. 48
    Lower Risk, Higher Multiple
    Weak Brand Strong Brand
    HigherPrices
    Revenues $20 M $22 M
    Expenses ($18 M) ($18 M)
    EBITDA $2 M $4 M
    EBITDA Multiple 5.0 X 5.5 X
    Company Value $10 M
    10%
    10%
    100%
    GreaterCash Flow
    Lower
    Risk
  • 49. 49
    Increased Value
    Weak Brand Strong Brand
    HigherPrices
    Revenues $20 M $22 M
    Expenses ($18 M) ($18 M)
    EBITDA $2 M $4 M
    EBITDA Multiple 5.0 X 5.5 X
    Company Value $10 M $22 M
    10%
    10%
    100%
    GreaterCash Flow
    Lower
    Risk
    120%
    $12 M Additional Value
  • 50. Strong Branding Contributes to Shareholder Value
    Brands account for more than 1/3 of shareholder value.
    “Brand Valuation: The Financial Value of Brands” JP Morgan & Interbrand
    On average, a corporate brand accounts for 8.5% of a company’s market cap.
    Speaking in Numbers, The Language of Bottom Line Business
    David Stewart, The Univ. of Southern California
    Brand contribution to shareholder value can be over 50% in the case of marketing heavyweights like Coca-Cola, McDonald’s, and Disney. “Brand Valuation” in Brands and Branding
    The Economist Series, Bloomberg Press
  • 51. 51
    The Golden Rule
    “Do unto others as you would have them do unto you”
  • 52. 52
    The Golden Rule
    “Do unto others as you would have them do unto you”
    “Do unto others as they would have you do unto them”
  • 53. Bonus: Tip #2
    Branding is not just about what you think. It’s about what your customers think.
  • 54. Kathy Murphy
    State of Vermont
    www.vermont.gov
  • 55. Overview
    • What is brand personality?
    • 56. Why use brand personality?
    • 57. How do you create brand personality?
    • 58. How does brand personality create brand equity?
    • 59. Brand Personality Models
    • 60. Leveraging Brand Personality
  • Brand Personality vs. Brand Identity?
    • Brand Identity: Characteristics Shared with Others – Race, Religion, Place You Live, Culture
    • 61. Being Who You Are
    • 62. Following Your Own Path
    • 63. Brand Personality: Combines Identity and Image – Externally Focused
    • 64. Becoming Who You Should Be
  • What is Brand Personality?
    • Set of Human Characteristics Associated with a Brand
    • 65. “Who” is a Brand – Traits, Qualities
    • 66. How the Brand Behaves Externally
    • 67. “Likeability” Factor
    Brand Dimensions
    Sincerity
    Excitement
    Competence
    Sophistication
    Ruggedness
    Brand Traits
    Down to earth
    Wholesome
    Honest
    Cheerful
    Daring
    Imaginative
    Spirited
    Reliable
    Intelligent
    Successful
    Charming
    Upper Class
    Up to Date
    Outdoorsy
    Tough
  • 68. About Brand Personality
    • Like Human Personality – Distinctive, Enduring – Built Over Time
    • 69. Outcome of Consumer’s Experiences with Brand
    • 70. The “Weighted Average” of Past Impressions
    • 71. Sets the “Expectation” Stage
    Personality traits are what the brand will live and die for
  • 72. Why Use Brand Personality?
    • Enriches Understanding of Consumer Perceptions, Attitudes towards Brand
    • 73. Contributes to Differentiated Identity
    • 74. May Be Leveraged Beyond Brand to Context Product and Experience
    • 75. Guides Communication Adding Texture; Richer Meaning
    • 76. Creates Brand Equity
  • How To Create Brand Personality?
    • Product-related Characteristics as Drivers
    • 77. Product Attributes Affect Personality
    • 78. User Imagery
    • 79. Events, Activities, Sponsorships
    • 80. Brand/Business Age
    • 81. Symbol
  • How Brand Personality Creates Brand Equity
    • Self-Expression Model
    • 82. Relationship Basis Model
    • 83. Functional Benefit Representation Model
  • Self-Expression Model
    • Brands as Vehicles to Express Self-Identity
    • 84. Consumer’s Self-Identity - Actual/Real Identity or Ideal/Aspirational Self
    • 85. Feelings Engendered by Brand Personality
    • 86. Brand = Badge
    • 87. Brand as Part of the Consumer’s ‘Self’ or Oneness
    Isis Respects and Values Women as They Are
    Real Women Engaged in Outdoor Activities
    Authentic, Informed Women in Mutually Beneficial Relationship
  • 88. Relationship-Basis Model
    • Consumer May Not Aspire to Possess a Personality Trait Yet Seeks a Relationship that Evidences the Trait
    • 89. Elements Affecting Individual’s Relationship with a Brand
    • 90. Brand as a Person
    • 91. Type of Person the Brand Represents
    Banks, Insurance Companies, Financial Investment
    Competent, Serious, Stable
    Northfield Savings Bank
  • 92. Functional Benefit Model
    • Brand Personality as a Vehicle for Representing Functional Benefits and Attributes
    • 93. Visual Symbol or Image Exists that Creates or Cues Personality
    • 94. Country/Region of Origin Can Add Credibility to Identity
    • 95. Quality Cue
    • 96. Point of Differentiation
  • Leveraging Brand Personality
    • Vehicle for Customers to Express their Identity
    • 97. Represents and Cues Functional Benefits and Product Attributes
    • 98. Sustainable Point of Differentiation – Difficult to Copy Personality
    • 99. Propels Your Brand to Public Consciousness – Flock or Flee
    • 100. Word of Mouth is the Best Marketing Medium
  • 66
    Ross Evans
    Simon Pearce
    simonpearce.com
  • 101. Simon Pearce Background
    Founded in 1971 in Kilkenny, Ireland by Simon Pearce
    1980 – Simon moves to Vermont and begins renovation of the old woolen mill in Quechee
    1981 – Simon opens glassblowing workshop at the Mill in Quechee
    1993 - opens 32,000 square foot manufacturing facility in Windsor, VT
    1999 – opens 190,000 square foot manufacturing and warehouse facility in Mtn. Lake Park, Maryland
    2011 – the Mill in Quechee welcomes over 300,000 visitors
    Currently eight company-owned retail stores
    500 wholesale partners that carry our products
    260 employees nationwide
  • 102. An anecdote
  • 103. Defining Your Brand Voice
    Goal: Your Brand Voice should build confidence and consistency throughout the company, across all channels and levels. The Brand Voice aligns the entire value chain to use the same “central currency” and facilitates clear and directed communication.
    Elements of the Brand Voice
    Voice Tone
    Desired Impact
    Brand Personality
    Personality traits that don’t represent your brand
    Elements of History (how does history impact your messaging)
  • 104. Defining Your Brand Voice
    How and Where do you use your Brand Voice in “real life”?
    Social Media
    Press material
    Email Campaigns
    Internal “speak”
    Training
    Customer Service
    Sales
    Collateral
    Copywriting
    Web content creation
  • 105. Defining Your Brand Voice
    The point is that Brand Voice becomes
    the guardrails and guideposts for
    how you tell yourstory.
  • 106. Defining Your Brand Voice
    Simon Pearce Brand Voice
    Tone: Real, Approachable, Connected to our environment and present in the moment. We never try to be anything that we are not. We are helping customers enrich their “story”.
    Impact: Eye-Catching/Arresting, Striking, Head-turning, Provocative, Surprising, Wow, Excite, Inspire
    Personality: Nimble, Flexible, Approachable, Highly Responsive, Attentive, Stimulating, Selectively Whimsical, Confident, Advisory, Inspirational, Engaging, Great Listener, Valued Counsel (coach), Magnetic, Charismatic
    Personality Traits We Are Not: Museum-like, Unapproachable, Stiff, Dry, Fragile, Overly-academic, Bureaucratic, Quiet, Reserved
    Elements of History: History informing the future, history of location, history as a guidepost for future decisions. History of the Mill is our DNA
  • 107. Defining Your Brand Voice
    Re-cap
    Define the goal of your brand voice
    Determine how and where will you use your brand voice
    Define the elements of your brand voice
  • 108. Ken Millman
    Spike Advertising
    spikeadvertising.com
  • 109. Questions?
    Please direct either towards a specific panelist or in general for any to answer
  • 110. THANK YOU FOR ATTENDING TODAY
    Copies of today’s presentation are available for sharing or download at:
    www.twitter.com/fambiz2point0
    www.slideshare.com/dvdv