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Women in Innovation: Building Success - Branding

This document provides a comprehensive overview of branding, outlining its importance, components, and strategies for effective brand development. It discusses brand equity, awareness, image, and culture, along with practical guidelines for creating and delivering a brand. Additionally, it includes case studies of branding failures and highlights the significance of emotional connection and decision-making in consumer behavior.

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Building Success – Branding 30 October 2019 #WomenInnovate
BRANDING FOR FOUNDERS
Freelance marketing consultant Chartered Marketer CMO, Chic Retreats Marketing Director, MUSTO Business Director, Ogilvy Brand Manager, British Airways Brands I have worked with; American Express, IBM, Hublot, Fatface, Diageo, Canon, Nestle and startups defining their competitive brand positioning Won the UKBAA Best Women Led investment in Innovation Award for my support of my Angel investment in BigCouch. amandadyjecinski.com Amanda.dyjecinski@gmail.com @amandadyj
Topics What is a brand? Anatomy of a brand Brand vs Commodity Brand Equity Brand Awareness x Brand Image Decision making How to create a brand? Brand Mission & Values Brand Positioning Statement How to deliver a brand? Brand Culture - Employer Branding Brand Guides Brand Tracking Brand watch outs When branding goes wrong Questions
What do they stand for?
What is a brand? Your “brand” is what your prospect thinks of when he or she hears your brand name. It’s everything the public thinks it knows about your name brand offering—both factual e.g. It comes in a robin’s-egg-blue box, and emotional e.g. It’s romantic. Companies build brands like birds build nests, one twig at a time. Jeremy Bullmore, J. Walter Thompson Advertising Perception
Brand vs a commodity Al Achenbaum
Brand vs a commodity BRAND FEATURES PRICE MEANING COMMODITY FEATURES PRICE £0.92£1.30£0.90 £0.72£0.40 £0.48 £4.30 £20 £50k Acqua di Cristallo Tributo a Modigliani £5.10 “Branding is endowing products and services with the power of a brand” (Kotler & Keller, 2015)
Brand Equity Brand – Commodity = Brand Equity = Brand Equity = Brand Equity
Brand Awareness & Image The consumer knows you exist… Brand Awareness A) Recall/ Unaided Awareness B) Recognition/ Aided Awareness C) Top of Mind/ First Mentioned The consumer thinks what you want them to about you… Brand Image Brand Associations e.g. an expert, expensive, friendly
Decision making 95% of decision making is subconscious. Gerald Zaltman, How Customer Think. Essential Insights into the Mind of the Market. “The most startling truth is we don’t even think our way to logical solutions. We feel our way to reason.” Douglas Van Praet, Unconscious branding: How neuroscience can empower and inspire marketing. Why is there more chance we'll believe something if it's in a bold type face? Why do we assume a good-looking person will be more competent? The answer lies in the two ways we make choices: fast, intuitive thinking, and slow, rational thinking. Our minds are tripped up by error and prejudice (even when we think we are being logical). Daniel Kahneman, Thinking Fast & Slow.
Your brand job Create emotional preference and brand loyalty to positively influence decision to buy yours vs competitors because of the perceived higher value of yours.
Brand Equity Rita Clifton, Brand Index
How to create a brand?
Brand Mission We're in business to save our home planet. (previously: Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the environmental crisis). To create a better everyday life for the many people. To accelerate the world's transition to sustainable energy. Spread ideas. Purpose an organisation serves its audience
Brand Values Be unique to you Guide your company decision making & employee behaviours @ every level Worth nothing until they cost you money! Google Values • Focus on the user and all else will follow. • It’s best to do one thing really, really well. • Fast is better than slow. • Democracy on the web works. • You don’t need to be at your desk to need an answer. • You can make money without doing evil. • There’s always more information out there. • The need for information crosses all borders. • You can be serious without a suit. • Great just isn’t good enough.
Brand Positioning Statement Positioning Statement: For consumers who want to purchase a wide range of products online with quick delivery, Amazon provides a one-stop online shopping site. Amazon sets itself apart from other online retailers with its customer obsession, passion for innovation, and commitment to operational excellence.
Brand Positioning Statement For _________________________________________(target audience) Who __________________________________________________________________(target audience need) X provides _______________________________________________________________________________ (main benefit that differentiates your offering from competitors) because ________________________________________________________________________________ (reason why audience should believe the above statement).
How to deliver a brand… Marketing Mix/7Ps Product Packaging Price Place Process People Physical evidence Uniqueness & consistency
Building Brand Equity Useful reference; Keller’s Brand Report Card.
Brand Culture – employer branding BENEFITS Better people Lower acquisition costs Improved performance Longer retention Lower salaries ACTIVITIES Hiring Onboarding Training Brand Guidelines Reviews Internal communications Surveys
Brand Guides • Logo • Tagline • Colours • Tone of Voice • Typography • Design System • Photography style • Illustration • Iconography • Animation style • Data visualization • Interactive elements • Video and motion • Jingle • Web design • Email templates • Images with rights • Content strategy • Brand stories
Brand Tracking • Internal understanding of the brand • Brand awareness • Brand image perceptions TOOLS • Website user trends • Brand search terms & volumes • Qual/ Quant research • Social analysis - sentiment/engagement/mentions • Brand Trackers Use the feedback loop to improve/refine your marketing mix… measure... adjust.
Brand repositioning
Branding watch outs… • Segment/target audience • Data – qual & quant, avoid ‘naïve expert’ • Features and no benefits • One brand idea • Brand bingo; innovation, integrity, lifestyle, aspirational, revolutionize..
When branding goes wrong… In 1982 Colgate launched a frozen food brand ‘Colgate Kitchen Entrees’ In 2009 Disney partnered with a cherry producer Come alive with the Pepsi Generation!
When branding goes wrong… 2018 H&M image on its website In 2018 Heineken ran an ad showed a bartender slide a beer past 3 people, all black, to a lighter skinned women with the tag-line ‘sometimes lighter is better’ In 2017 Warburtons ran a competition with the #crumpetcreations, however, this hashtag is used by the niche ‘furry’ community.
Questions?
Intro to Innovation Funding & Finance: 6th November Newsletter: https://ktn-uk.co.uk/newsletter Online Community: www.worldlabs.org/womenininnovation Email: siwan.smith@ktn-uk.org #WomenInnovate