The Power of the Brand

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Having a brand is more than a logo, more than a slogan. This presentation shows you how to use your company's brand to move your company forward.

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The Power of the Brand

  1. 1. The Power of the Brand The Roadmap for Growth April 30, 2014 Mark S. Lee 1 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  2. 2. Agenda • The Essence of Branding • Effectively developing a Brand planning process— How? – Key Components of a plan – Simple steps to create a plan – Key Criteria to use to Measure and Benchmark Success 2 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  3. 3. What Binds the Organization And Connects the Dots? Simple Question… 3 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  4. 4. Answer… Your Brand! 4 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  5. 5. What Branding’s NOT? • It’s not just the: – Product – Pricing – Packaging – Advertising/Communications – Promotions The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding 5
  6. 6. But, Branding is… • Embodies ALL and captures the essence of the: – Consumer – Emotional connectivity – Brand promise – Delivers based on the promise – Feels a void and satisfies a need – Integrated communications The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding 6
  7. 7. The LEE Group, MI LLC 7 Popular Brands • Nike • McDonald’s • Coca Cola • ESPN • Sports Illustrated • Nordstrom’s 7 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  8. 8. What Brands are These? 8 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  9. 9. Brand Planning • The role of brand marketing is to: – Determine a longer-term vision for your business – Identify relevant consumers to target – Identify/build/enhance ongoing relationships with consumers and customers -Strategically target customer segments and focus on profitable growth 9 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  10. 10. The LEE Group, MI LLC Now, Think of Your Business… • As a brand • Not a provider of a specific job but a brand that provides more than specific services 10 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  11. 11. The LEE Group, MI LLC 11 Now, Ask Yourself… What does my business represent and why would anyone purchase my product or service? 11 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  12. 12. But, You Need to… • Understand your Brand • And, what makes your Brand unique relative to the competition • How do you do this? 12 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  13. 13. The LEE Group, MI LLC 13 Understand Reasons Why Consumers Purchase You? • Reasons might include: – Fills a need – Satisfies an urge/need – Emotional connection – Price/Quality – It’s “hot” – Represents you in some way shape or form – Communicates something about you 13 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  14. 14. What Makes Our Brand Different? • What makes you different from the competition? – Point of difference • Price • Value • Quality • Customer Service • Consistent Product and/or Service • Others? 14 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  15. 15. Starts with a Situation Analysis • Current assessment: – Internal operations – Competition – Products/Services – Pricing • In essence, helps you to identify “gaps” 15 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  16. 16. Leads to SWOT Analysis • (S)trengths • (W)eaknesses • (O)pportunities • (T)hreats 16 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  17. 17. The LEE Group, MI LLC 17 Perform Research/ “Gap” Analysis • Meaning… – How do you perceive your business? – How do others perceive your business strengths and weaknesses? • Generally, there is a “gap” • What do I need to do to close the gap? 17 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  18. 18. The LEE Group, MI LLC 18 Brand Components • A successful brand has: – Vision – A positioning Statement – Recognizes its point of difference – A strong sense of its strengths and weaknesses – An understanding of its competitive set – An effective communications plan 18 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  19. 19. Vision Statement • Longer-term • More aspirational • Focused, concise and precise • Not to be confused with a Mission statement, objectives and strategies 19 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  20. 20. Mission Statement • The brand purpose and reason for being • Reflects organizational mission and reinforces long-term direction • Provides direction for goal-setting 20 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  21. 21. Brand Defining Idea (BDI) What is it? • A BDI is the cornerstone of your Brand and captures the essence of your business – Who are you? – What do you represent? – What makes you different? 21 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  22. 22.  Ultimately generates customer loyalty and business growth  Creates a consistent brand image in the minds of customers and provides a reason to do business with that brand  Loyal customers tend to  make referral  give greater share of wallet to their preferred brand  The BDI is not to be used as a tagline Brand Defining Idea (BDI) 22 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  23. 23. • Delivers vision saliently and consistently... – To all stakeholders such as customers, prospects, employees, sales force, business partners – Across all business units – Through all brand communication touch points • Creates an ownable and relevant point of difference – Ownable –True to your equity and vision – Relevant – Resonates with all constituencies – Differentiating – Breaks the category commodity paradigm Brand Defining Idea (BDI) 23 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  24. 24. Plan Creation • Understand who you are and what your business represents • Identify or refine company’s vision and mission • Establish realistic, measureable goals 24 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  25. 25. Plan Creation • Clearly identify and target relevant customer’s • Develop a marketing plan which addresses market segments identified and how you're going to reach them • Establish budgetary resources 25 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  26. 26. Plan Creation • Establish measurement criteria • Track results in a timely manner • Build contingency plans • Be transparent and FLEXIBLE 26 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding
  27. 27. Questions? The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding 27
  28. 28. Thank You! • Site: leegroupinnovation.com • Phone: (734) 507-0866 • Email: mark@leegroupinnovation.com • Twitter: @leegroup • Linked In: www.linkedin.com/in/leegroup • Facebok: www.facebook.com/mark.s.lee.31 The LEE Group, MI LLC 2014 Entrepreneur Roundtable - Branding 28

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