Brand Storm B I Z

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Brand Storm B I Z

  1. 2. Brand Storm A Tale of Passion, Betrayal, and Revenge AUTHOR: Will Murray PUBLISHER: Prentice Hall Pearson Education Limited DATE OF PUBLICATION: 2000 NUMBER OF PAGES: 233 pages Book pic
  2. 3. THE BIG IDEA <ul><li>The gateway to the new Human economy. </li></ul><ul><li>Brand Storm explores the future of business in a very meaningful, hopeful, creative, and visual way. This is a business book that reads like a life plan. </li></ul><ul><li>Divided into three main parts: Ideas, Actions, and Dreams, Brand Storm aims to inspire, to reach out and touch our emotions as well as our reason. </li></ul><ul><ul><li>Brands, dreams, and values should be integrated into your life so you live and breathe customers . </li></ul></ul><ul><li>The communication and technology we have today democratize the economy into “one vote, one voice” per consumer. </li></ul><ul><ul><li>These are just the baby steps toward a future where the brand becomes very personal. </li></ul></ul><ul><ul><li>Any betrayal of a customer’s trust means she will have her revenge. Heed the Brand Storm message and be warned. </li></ul></ul>
  3. 4. The Brand Storm Wishbone <ul><li>What is a wishbone? A plain English blueprint for the success of your idea. </li></ul><ul><ul><li>Vision – Business success in the new human economy, through mutual trust </li></ul></ul><ul><ul><li>Dream – To be the first truly engaging, enjoyable, and accessible business book </li></ul></ul><ul><ul><li>Purpose – To help you, the customers, establish economically viable and sustainable trust with your customers </li></ul></ul><ul><ul><li>Promise – To enhance your future business prospects in an enjoyable and memorable way </li></ul></ul><ul><ul><li>Approach – To illuminate the future, to make ideas actionable, to inspire you to want to live your own dreams </li></ul></ul>
  4. 5. The Brand Storm Wishbone <ul><ul><li>Strategy – To ignite you to take positive action by appealing to your emotions as well as your reason, to help you implement Brand Storm through a dedicated web site, to encourage dialogue between you and the author and other readers to create an ongoing and shared experience </li></ul></ul><ul><ul><li>Tactics – Make it fun, simple, visual, dynamic, and doable. </li></ul></ul><ul><li>“ The only difference between being a child reading an </li></ul><ul><li>adventure book and being an adult in the 21st century is </li></ul><ul><li>that the child can put the book down, and you can’t” </li></ul>
  5. 6. <ul><li>We have entered the age of ideas. “One man one voice” is the cry of democracy on the Internet. </li></ul><ul><ul><li>The network gives us universal rights of suffrage and those who lose in the service of the customer will lose by the millions. </li></ul></ul><ul><li>With the Internet, the customer has the right of reply. </li></ul><ul><ul><li>How many e-mails have you received written by angry customers who are out looking for revenge? </li></ul></ul><ul><ul><li>Some are out for blood. </li></ul></ul><ul><ul><li>The service in most places you go to is less than satisfactory. </li></ul></ul><ul><li>Power is placed in the hands of the people and because of such great power companies should be scrambling to satisfy and delight, woo and win the love of every customer’s heart. </li></ul>The Seven Ages of Man
  6. 7. <ul><ul><li>The global audience is a cruel one. The Internet is the cornerstone of consumer democracy with “one customer one voice”. </li></ul></ul><ul><ul><ul><li>Expect customers to express their views loudly. </li></ul></ul></ul><ul><ul><ul><li>Word of mouth will be the new advertising. </li></ul></ul></ul><ul><ul><ul><li>Treat behavioral transparency as a way of life. </li></ul></ul></ul><ul><ul><ul><li>Stop thinking how the Internet can help you and start thinking about delighting your customers. </li></ul></ul></ul><ul><ul><ul><li>The Internet isn’t about companies; it’s about enfranchised customers. </li></ul></ul></ul><ul><li>Throughout the history of humanity, every era of progress has grown increasingly shorter. </li></ul><ul><ul><li>Rural economies lasted 10,000 years, the Industrial age lasted 200 years, the Consumer economy a mere 50, the Knowledge economy is only 25 years old. </li></ul></ul><ul><ul><li>What’s next? The Human Economy, and who knows how short this period of evolution will last until we take the next step to the Intelligence economy. </li></ul></ul>The Seven Ages of Man
  7. 8. <ul><li>Change is happening at a rate faster than anything else. </li></ul><ul><ul><li>Be prepared to meet it head on. Man’s hierarchy of motivation has evolved along with the different ages. </li></ul></ul><ul><ul><ul><li>In the tribal economy, we were only thinking of basic survival. </li></ul></ul></ul><ul><ul><ul><li>Civilization came with the Rural age, the Industrial age brought us learning, the Consumer age focused on lifestyles, the Knowledge economy centers around communications, and the Human economy focuses on the Individual and the future? </li></ul></ul></ul><ul><ul><li>An Intelligence economy focused on Being. </li></ul></ul><ul><ul><ul><li>We are seeking higher standards for ourselves with every age. </li></ul></ul></ul><ul><li>We are gradually shifting from the Knowledge economy to the Human economy: </li></ul><ul><ul><li>Power is shifting from companies to consumers. </li></ul></ul>The Seven Ages of Man
  8. 9. <ul><ul><li>Existing commercial and political structures are being challenged. </li></ul></ul><ul><ul><li>Traditional corporate structures may not stand the wear and tear. </li></ul></ul><ul><ul><li>One person working at home alone can take on an established company. </li></ul></ul>The Seven Ages of Man
  9. 10. <ul><li>Companies are being born and are dying at a faster rate than ever. </li></ul><ul><ul><li>The competition is a younger, fit, skilled person down the road who probably knows more people than you do. </li></ul></ul>Welcome to the Death Zone
  10. 11. <ul><li>It is infinite. Buying decisions are taking longer because there is just so much choice out there. </li></ul><ul><ul><li>The company that doesn’t get its brand out there in the information web is going to die. </li></ul></ul><ul><ul><li>Companies are going to need more imagination to attract and keep customers. </li></ul></ul><ul><li>A customer walking around carrying a grudge against your company is lethal. </li></ul><ul><ul><li>That customer will tell up to ten people how unhappy you’ve made him. </li></ul></ul><ul><ul><li>If you’ve pleased him, he will only tell up to two good friends. </li></ul></ul>A Tidal Wave of Choice
  11. 12. <ul><li>Once again there is a level playing field. It used to be that only Western countries had a say in the world economy. Now there are talented Indians filling up the IT industry, and the genuine warm service found in Asian countries provides a service edge that is ingrained culturally. </li></ul><ul><li>Build a service experience to blow away your customers! </li></ul><ul><ul><li>There are places in Asia where travelers are surprised because people don’t expect a tip. </li></ul></ul><ul><ul><ul><li>They genuinely offer service with a smile. </li></ul></ul></ul><ul><ul><ul><li>All the training in the world can’t make an inherently cold and unfriendly people suddenly warm up to their customers. </li></ul></ul></ul><ul><ul><ul><li>These cultural values level the playing field where once only those with technology and infrastructure ruled. </li></ul></ul></ul>It’s A Flat World
  12. 13. <ul><ul><li>Today everyone can get their hands on the latest technology, and the latest is almost always found in places like Japan, Hong Kong, Singapore and pretty soon China will be the major force to contend with. </li></ul></ul><ul><ul><ul><li>Apart from a predominantly young population, Asia is full of people willing to work for less. It’s a tough place to beat. </li></ul></ul></ul><ul><li>If You’re Not Customer-Centric You’ll Soon Be A Dead Dinosaur </li></ul><ul><ul><li>Small and global is now a viable reality. </li></ul></ul><ul><ul><li>Infinite choice is a given. </li></ul></ul><ul><ul><li>Start believing in your customers. </li></ul></ul><ul><ul><li>Get ready to offer serious service value. </li></ul></ul><ul><ul><li>Be prepared for customer surveillance. </li></ul></ul><ul><ul><li>Strive to make your customer’s lives better while you still can. </li></ul></ul>It’s A Flat World
  13. 14. <ul><li>The two key motivators to be on the Internet today are Greed and Fear. </li></ul><ul><li>People are fooled by the notion the Internet is all about e-commerce. </li></ul><ul><ul><li>The Internet is about customers. At the heart of it is not a great shopping mall in the sky but an Information Superhighway. </li></ul></ul><ul><ul><li>Businesses fail on the Internet because they join the bandwagon for fear of being left behind, without the faintest clue that it is really all about seducing customers. </li></ul></ul><ul><ul><li>They think it is a cost-cutting device and use the Internet for marketing, customer service and distribution. </li></ul></ul><ul><ul><li>Sadly there is just too much marketing and no real value. </li></ul></ul><ul><ul><li>The customer benefit has to be greater than all the product marketing and distribution functions of the company website. </li></ul></ul><ul><ul><li>This is why not all businesses will be able to exploit the advantage of the Internet. </li></ul></ul>It’s A Flat World
  14. 15. <ul><li>Today’s economy is Retail – dominated. The old consumer economy was totally product – dominated. </li></ul><ul><ul><li>The balance of power has shifted and the customer is king. </li></ul></ul><ul><li>Make the customer the center of your universe. </li></ul>It’s A Flat World
  15. 16. <ul><li>Lifestyle information about vision, values, and virtues plus relevant information for customers to base their decisions on will be part of the new customer spin. </li></ul><ul><li>What used to be called advertising will be known as market awareness. </li></ul><ul><li>Strong and meaningful brands and concepts, co-branding with suppliers, creating unique in-store and online experiences will provide world-class customer access. </li></ul><ul><ul><li>A powerful editorial feel like that of a great magazine is required with a constantly evolving tone and content. </li></ul></ul><ul><li>Customer experts with the right attitude for delighting customers in their own homes will become the new customer guardians. </li></ul>A Snapshot of the Customer-Centric Future:
  16. 17. <ul><li>Delivery options will be available to support both store and web-based shopping. Speed, flexibility, and location become critical. </li></ul><ul><ul><li>Local hubs for home deliveries will be the norm. </li></ul></ul>A Snapshot of the Customer-Centric Future:
  17. 18. Forget the High Streets! <ul><li>Rethink the use of property. </li></ul><ul><ul><li>With a little design, marketing, and creative imagination, lofts can be rented out within old warehouses. </li></ul></ul><ul><ul><li>Take Chelsea Harbor in the UK. Quasi-industrial, commercial, and arty areas that showcase urban chic on the cheap combine with the funky new retail mix. </li></ul></ul><ul><li>You are limited only by your imagination. </li></ul><ul><li>The future of the high street is up for grabs! </li></ul><ul><ul><li>Sloppy thinking will cost you millions. </li></ul></ul><ul><ul><li>Don’t think e-tail or retail. Think both. </li></ul></ul><ul><ul><li>In-home personal shopping will become a cost of sale. </li></ul></ul><ul><ul><li>High street hybrids herald a suburban age. </li></ul></ul><ul><ul><li>However you trade, you need a clear customer advantage beyond price and convenience. </li></ul></ul><ul><ul><li>Trash the retail rulebook and e-business essentials. </li></ul></ul>
  18. 19. Forget the High Streets! <ul><li>Where there’s Internet shopping, there’s also real life night markets. </li></ul><ul><ul><li>Think about how customers shop today and invent how they’ll shop in the future. </li></ul></ul>
  19. 20. Virtual Unreality <ul><li>One man’s isolation is another man’s night out with friends. How many people enjoy staying home surfing and chatting with strangers they’ve never physically met? The number is growing. </li></ul><ul><li>The facts: </li></ul><ul><ul><li>People are spending more time online and when they do they spend less time with friends and family and go out less. </li></ul></ul><ul><ul><li>People don’t know their neighbors as well as they used to. </li></ul></ul><ul><ul><li>Voyeurism and social detachment are on the increase. </li></ul></ul><ul><ul><li>People socialize less in the area where they live. </li></ul></ul><ul><ul><li>Parks and local amenities are deteriorating and local shops are closing. </li></ul></ul><ul><ul><li>People are talking less. </li></ul></ul><ul><ul><li>Working hours are longer. </li></ul></ul><ul><ul><li>Remote working and hot-desking are on the rise. </li></ul></ul><ul><ul><li>E-mail is reducing phone and personal contact. </li></ul></ul><ul><ul><li>We are assaulted by infotainment. </li></ul></ul>
  20. 21. Virtual Unreality <ul><li>Ultimately the Internet is all about choice. </li></ul><ul><ul><li>Human nature doesn’t change. </li></ul></ul><ul><ul><li>People will still prefer the company of others to talking to a machine. </li></ul></ul><ul><li>Confident consumers see through the hype and demand to be treated how they want, when they want. </li></ul>
  21. 22. The 3 Types of Consumers <ul><li>Dependent customers are still looking for comfort and tradition. </li></ul><ul><ul><li>Geography is a factor, and if it isn’t near enough, then it isn’t easy enough. </li></ul></ul><ul><ul><li>Cost matters if a product offers superb value. </li></ul></ul><ul><ul><li>Convenience builds dependence and is habit-forming. </li></ul></ul><ul><ul><li>Habit is dependence forming. </li></ul></ul><ul><ul><li>The emphasis for retailers selling to dependent customers will be consistency, reliability, and distinctiveness. </li></ul></ul><ul><li>Free customers are always seeking innovation. </li></ul><ul><ul><li>They are commercially promiscuous. </li></ul></ul><ul><ul><li>Delight free customers with new experiences, and the funkier the better. </li></ul></ul><ul><li>Liberated customers are well-informed and mature. </li></ul><ul><ul><li>They either change the way things work or make the world a better place by being part of it. </li></ul></ul>
  22. 23. The 3 Types of Consumers <ul><ul><li>They value trust and meaning. </li></ul></ul><ul><ul><li>They are relationship-orientated both personally and commercially. </li></ul></ul><ul><ul><li>They like the human touch. </li></ul></ul><ul><ul><li>Companies need to be there for them in the long-term and treat them with respect. </li></ul></ul>
  23. 24. Becoming Customer-Involved <ul><li>Go and live with your customer. </li></ul><ul><ul><li>Get up close and personal. </li></ul></ul><ul><ul><li>Research thoroughly and recruit non-executive consumers to your board. </li></ul></ul><ul><ul><li>Reward them for their trouble. </li></ul></ul><ul><ul><li>Word of mouth travels faster in the human economy so the more involved you are now, the better it will be for your business. </li></ul></ul>
  24. 25. The Bottom Line <ul><li>Decide who you want your customers to be and stick with them. </li></ul><ul><li>Immerse yourself in your customer’s lives. </li></ul><ul><li>Learn about what they value. </li></ul><ul><li>Empathize with them. </li></ul><ul><li>Focus. </li></ul><ul><li>Be clear about what your customers will pay for. </li></ul><ul><li>Be the world’s best at providing it. </li></ul><ul><li>Cut out anything else. </li></ul><ul><li>Don’t’ be distracted by your own agenda. </li></ul><ul><li>Constantly check how you are doing. </li></ul><ul><li>Don’t over-engineer your service. </li></ul>
  25. 26. <ul><li>If your customers are dependent, satisfy them. Be proud of what you do and do it well. </li></ul><ul><li>If your customers are free, delight them. You are as good as your latest trick. </li></ul><ul><li>If your customers are liberated, love them. </li></ul><ul><ul><li>Human values such as respect will make all the difference. </li></ul></ul><ul><ul><li>Treat them as individuals. </li></ul></ul>So what’s a businessperson to do?
  26. 27. <ul><li>The concept of cause and effect and the theory of inevitable consequence are highly applicable in the human economy. </li></ul><ul><ul><li>Your development in the next few years is entirely in your own hands. </li></ul></ul>Corporate Karma
  27. 28. <ul><li>A Brand is everything connected to the essence of a company. </li></ul><ul><ul><li>The directors, people, products, logo, the company itself, the physical presence, visual presence, voice, reputation, associations, customer perception, and the sum total of all of its communications. </li></ul></ul><ul><li>Brand is the elixir of life, no longer a mark on a cow, a badge like Levi’s, or an icon like Nike, the meaning of the word “brand” has evolved into the company DNA from which all life grows… </li></ul>Define “Brand”
  28. 29. <ul><li>Performance brands must do what is expected of them at the minimum. Their primary marketing focus will be around the four C’s: </li></ul><ul><ul><li>Character –the innate image of your product or service. Traditionally developing brands through advertising, promotion, packaging, endorsements, associations, etc. </li></ul></ul><ul><ul><li>Capability – the performance of your product or service. How reliable is it? How does it compare to the competition? </li></ul></ul><ul><ul><li>Care – The customer experience, from your in-store service to your help desks and guarantees. Courtesy and efficiency is the base line. Betray your customers in this area and you will feel their revenge. </li></ul></ul><ul><ul><li>Cost – in the human economy, with price transparency, cost will be important and we are talking about value, not about being cheap. </li></ul></ul>Performance Brands
  29. 30. <ul><li>Most fashion brands are personality brands that aim to delight the customer. </li></ul><ul><li>Exploration and excitement are a vital part of this brand. </li></ul><ul><li>The primary marketing focus will be around the four D’s: </li></ul><ul><ul><li>Difference – communicate a big difference and if you are not perceived as genuinely different, forget it. </li></ul></ul><ul><ul><li>Delivery – Internet or home delivery should be streamlined. Failure to delivery may lead to a very vocal and disappointed customer. </li></ul></ul><ul><ul><li>Delight – Personality brands must be like bungee jumping for consumers. Live and let rip. </li></ul></ul><ul><ul><li>Dynamics – Change is the key word. A personality brand requires constant evolution around a common purpose. The greater the degree of consumer involvement, the better. </li></ul></ul>Personality Brands
  30. 31. <ul><li>Partner brands are in a love affair with the customer. </li></ul><ul><ul><li>As is the case for romantic attachments, it is better when their love is not unrequited. </li></ul></ul><ul><ul><li>Respect for the customer, shareholder, investor, staff member, and the environment are part of the partner brand responsibility. </li></ul></ul><ul><li>Their marketing focus should be around the four P’s: </li></ul><ul><ul><li>People – values and virtues are more important than vision, and people underwrite everything a partner brand stands for </li></ul></ul><ul><ul><li>Partnership – enshrined in the partner brand constitution as the relationship of choice with everyone </li></ul></ul><ul><ul><li>Promise – a gentleman’s word is his bond and partner brands must behave the same way </li></ul></ul><ul><ul><li>Professionalism – If something is worth doing, partner brands do it well. </li></ul></ul>Partner Brands
  31. 32. <ul><li>The role of brands has evolved: brands are now company DNA from which all life grows. </li></ul><ul><ul><li>The Superman brand is dead. </li></ul></ul><ul><ul><li>Can your brand perform? Do you care? </li></ul></ul><ul><ul><li>Do you have a personality with a difference? </li></ul></ul><ul><ul><li>Are you the ideal partner? Do you keep your promises? </li></ul></ul><ul><ul><li>Are you the personification of your brand? </li></ul></ul><ul><ul><li>If you cheat your customers, bad karma will go with you. </li></ul></ul><ul><li>Your destiny is the inevitable consequence of everything you do and everything you say. </li></ul><ul><li>If You Cut Your Company in Half, Would it read “Customer”? </li></ul><ul><ul><li>Are you the very best at what you do? </li></ul></ul><ul><ul><li>Are there things more important to you than money? </li></ul></ul><ul><ul><li>Is your company’s integrity questionable? </li></ul></ul><ul><ul><li>Do your people and products walk the same talk? </li></ul></ul>Partner Brands
  32. 33. <ul><ul><li>Do your people and products walk the same talk? </li></ul></ul><ul><ul><li>How fit is your brand? </li></ul></ul><ul><ul><li>Do you live the values you want your team to live? </li></ul></ul><ul><ul><li>How do potential recruits feel about your values? </li></ul></ul>Partner Brands
  33. 34. Actions <ul><li>To take action you live out your values. </li></ul><ul><ul><li>A company cannot live on vision alone. </li></ul></ul><ul><ul><li>You need a strategy, visuals, a voice. </li></ul></ul><ul><ul><li>You need to decide how you want your company to be identified in the 21st century. </li></ul></ul><ul><ul><li>Ignoring this now will prove fatal. </li></ul></ul><ul><li>Your brand spirit and psyche should evolve to Involve customers. There is so much work to be done. </li></ul>
  34. 35. Dream big! <ul><li>The only way to fully capture the new way of thinking and communicating is to link up to www.brandstorm.com or get a personal copy and make it your new bible. Share it with your colleagues. Let the ideas flow. </li></ul><ul><li>The Dreams laid out in this book capture the personalities of the leaders of companies now. </li></ul><ul><ul><li>Their dreams form part of the total picture of Brand Storm. </li></ul></ul><ul><ul><li>Reading like a slum book of personal questions and themes like “Would you like to have designed your own school?” or “Are you ready for turmoil?” </li></ul></ul><ul><ul><li>The answers to these questions are best read verbatim. </li></ul></ul><ul><ul><li>Personal interactions, creativity, imagination, and essentially Human qualities rule in the Dreams chapter. </li></ul></ul><ul><ul><li>The future starts to look exciting. It’s the most challenging time to live and develop intelligent brands. </li></ul></ul><ul><li>We are filled with hope. </li></ul>
  35. 36. BusinessSummaries.com is a business book Summaries service. Every week, it sends out to subscribers a 9- to 12-page summary of a best-selling business book chosen from among the hundreds of books printed out in the United States. For more information, please go to http://www.bizsum.com. ABOUT BUSINESSSUMMARIES

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