Inside-Out Branding: Elevating the Role of Marketing (The fastest way to kill an average product is with a great promotional campaign.)

www.londonink.com Bob London’s Background Virtual VP of Marketing for growth-stage organizations: strategy, positioning, messaging, planning Full service marketing execution: program development & management of awareness & lead generation; creative services Developed strategic marketing plans for 20 NAFCU Services Corporation partners Emerging, Venture-Backed Tech Firms

Virtual VP of Marketing for growth-stage organizations: strategy, positioning, messaging, planning

Full service marketing execution: program development & management of awareness & lead generation; creative services

Developed strategic marketing plans for 20 NAFCU Services Corporation partners

Agenda Worst of times or best of times for marketers? Your brand is not your logo. Before you toot your horn, make sure it’s the horn members need/want. What is Inside-Out Branding? Five lessons on investing your next resource or budget dollar.

Worst of times or best of times for marketers?

Your brand is not your logo.

Before you toot your horn, make sure it’s the horn members need/want.

What is Inside-Out Branding?

Five lessons on investing your next resource or budget dollar.

Marketers: Worst or best of times? “ Help” “ Best of Times” “ Ball of Confusion” “ Under Pressure” “ Survivor”

Reality: E conomic G eneralized A nxiety D isorder: (EGAD) Consumer spending down, skepticism up Bottom line pressure Budgets down Expectations up (do more with less)

E conomic G eneralized A nxiety D isorder: (EGAD)

Consumer spending down, skepticism up

Bottom line pressure

Budgets down

Expectations up (do more with less)

Ladies and gentlemen… There has never been more opportunity to show the value of marketing Explore, invent, innovate. We’re back to basics: ideas & execution are king Look at things more holistically. Look inward!

There has never been more opportunity to show the value of marketing

Explore, invent, innovate.

We’re back to basics: ideas & execution are king

Look at things more holistically.

Look inward!

What about “Brand?” Your brand is not your logo. A branding campaign is not an awareness campaign. Redoing branding does not mean new letterhead. You don't have the media budget to move the needle on brand perception. Your business starts with relationship/ service/execution, not image. (“Show, don’t tell me.”) Unless you’re like Geico, Budweiser, BankAmerica, Nike, Coke or McDonald’s:

Your brand is not your logo.

A branding campaign is not an awareness campaign.

Redoing branding does not mean new letterhead.

You don't have the media budget to move the needle on brand perception.

Your business starts with relationship/ service/execution, not image. (“Show, don’t tell me.”)

Inside-Out Branding = “Sum-of-the-parts” approach Statement usability & accuracy Great IVR Clean branches Product A Service A Useful Web site Innovative New Product B Smart support The sum of the parts of your customer touch points.

Inside-Out Branding = “You are what your members experience” Statement usability & accuracy Great IVR Clean branches Product A Service A Useful Web site Innovative New Product B Smart support Inside-Out Branding SM You are what your members experience.

What makes Geico memorable? Or a $250M annual media budget that hammers us with these images & messages every day? Cute characters? Funny, unwitting spokespeople? Odd icons?

Cute characters?

Funny, unwitting spokespeople?

Odd icons?

What makes Geico’s promotional investment worthwhile? $250M in promotion is only a good investment because of hundreds of millions spent on customer experience: Product Web site Customer service

$250M in promotion is only a good investment because of hundreds of millions spent on customer experience:

Product

Web site

Customer service

So, if you were launching something, would you invest in the ad campaign or the product first ? Introducing the All New 2001 Bland! It’ll make your heart go tick-tick-tick!

What makes GM’s promotional investment wasteful? Spending hundreds of millions promoting a good-but-not-great product (customer experience). (Q: If they’d had moved the investment from ads to R&D, would the Volt have been here already?)

What Google did—and GM needs to do—is rethink ‘branding.’ Statement usability & accuracy Great IVR Clean branches Product A Service A Useful Web site Innovative New Product B Smart support Inside-Out Branding SM You are what your members experience.

If your credit union had $100,000 to spend on growth, would you invest in: Member experience (product, service, support, etc.)? Promotion of your member experience? And on what basis would you decide?

If your credit union had $100,000 to spend on growth, would you invest in:

Member experience (product, service, support, etc.)?

Promotion of your member experience?

Inside-Out Branding Lesson #1 of 5 So, the Brand is not your logo, its: The market’s perception & members' experience of all your Credit Union’s touch points. And Branding is: Anything that enhances the members' experience, that you can leverage in your campaigns.

So, the Brand is not your logo, its: The market’s perception & members' experience of all your Credit Union’s touch points.

And Branding is: Anything that enhances the members' experience, that you can leverage in your campaigns.

Inside-Out Branding Lesson #2 of 5 When should I invest in “promotion”? When I have something excellent or unique to promote When my member satisfaction rates are 95% + When my member referral rate is 95% +

When should I invest in “promotion”?

When I have something excellent or unique to promote

When my member satisfaction rates are 95% +

When my member referral rate is 95% +

Lesson #2 of 5 (Soundbites to use) “ Your products or services are your best marketing tools.” “ First, build something great, then promote the heck out of it.” “ Don’t toot your own horn unless you’re sure it’s the horn your members want.” “ The fastest way to kill a so-so product is with a great campaign.” “ Are you ready for your close-up?”

“ Your products or services are your best marketing tools.”

“ First, build something great, then promote the heck out of it.”

“ Don’t toot your own horn unless you’re sure it’s the horn your members want.”

“ The fastest way to kill a so-so product is with a great campaign.”

“ Are you ready for your close-up?”

TIME OUT “ Where’s the budget for all this coming from?”

“ Where’s the budget for all this coming from?”

Inside-Out Branding Lesson #3 of 5: Get your bearings! Perform a Marketing MRI Measure satisfaction ratings on ALL member touch points: Each product All touch points “ Future” initiatives C. Weight ratings by perceived importance RETAIL FINANACIAL SERVICES CONSUMER

Perform a Marketing MRI

Measure satisfaction ratings on ALL member touch points:

Each product

All touch points

“ Future” initiatives

Inside-Out Branding Lesson #4 of 5: Pinpoint & invest in gaps Measure gaps between most important Marketing MRI factors and your CU’s performance Your top 3 - 5 initiatives should address those gaps. Statement usability & accuracy Great IVR Clean branches Product A Service A Useful Web site Innovative New Product B Smart support -5 +2 -7 +7

Measure gaps between most important Marketing MRI factors and your CU’s performance

Your top 3 - 5 initiatives should address those gaps.

Statement usability & accuracy Great IVR Clean branches Product A Service A Useful Web site Innovative New Product B Smart support Inside-Out Branding Lesson #5 of 5: Communicate brand responsibility Marketing? CEO? Board? Everyone!

Marketing?

CEO?

Board?

Everyone!

Elevate marketing's role: You are redefining the Brand as the sum of the parts of your Credit Union You are redefining Marketing as the steward of the members' experience Every employee, executive and volunteer owns a piece of the Brand and should be focused on either: Adding members Retaining members Generating new revenue from members

You are redefining the Brand as the sum of the parts of your Credit Union

You are redefining Marketing as the steward of the members' experience

Every employee, executive and volunteer owns a piece of the Brand and should be focused on either:

Adding members

Retaining members

Generating new revenue from members

Discussion