April 20, 2010
This past week, I attended my local American Marketing Association chapter monthly event, and I was struck by a very simple explanation on how brand and marketing strategy fit together. The explanation came from Tony Fannin, President of BE Branded. I thought that Tony’s explanation would be worth repeating in this post, because I know that there are many smart and successful organizations that struggle with the difference between these two concepts. This could be because traditionally trained marketers sometimes take understanding these concepts for granted and therefore do not always ensure that their audiences know exactly what they mean when they refer to either concept. As a result, business leaders and managers who might not be as familiar with these concepts could find them to be vague, confusing, or even perhaps interchangeable. So for any of you who might fall into one of these two camps and who may not be articulating how brand and marketing strategy fit together as eloquently, clearly, or succinctly as you might like, perhaps this explanation is worth a try:
The marketing strategy is the bridge between what the target customers believe and what the organization wants its brand to stand for.
Now to help give more clarity to this explanation, let me provide a few more details. First of all, at its core, a brand is what your product/service/organization ultimately stands for or means in the minds of the target customers. It is comprised of the feelings or perceptions that target customers have when they think of or experience a particular product or service. Organizations typically want the brand to stand for something in particular in the minds of their target customers. Meanwhile, the target customers may not have these exact perceptions and feelings in mind when they think of the product or service (unfortunately, this is the case most of the time). The difference between what an organization wants its target customers to think and what the target customers actually think is a gap. Organizations can create and execute a marketing strategy to minimize the gap. The marketing strategy is the set of planned actions that the organization undertakes to bring the two points closer together. Typically, these actions address one or more of the following: the product (or service), the pricing, the placement (distribution or channels), and the promotion (including communication/messaging). A well executed marketing strategy should help to move the perceptions of the target customers closer to what the organization envisions for the brand. Additionally, it should also help organization’s idea for the brand become more attainable and believable to its target customers.
So what do you think? Does this explanation help distinguish between the two concepts? Let me know! I’d love to hear if this is helpful or if you have other suggestions.
April 5, 2010
A couple of weeks ago, I received my qualitative research moderator certification from the Burke Institute in Cincinnati. The Burke Institute is a renowned market research education institution, and its qualitative research certification process includes participating in two week-long intensive (and not inexpensive) courses.
While I enjoyed the courses thoroughly, the primary reason I attended the courses was to be able to say that I am a certified focus group moderator. Prior to attending the certification courses, I had quite a bit of experience moderating focus groups and using the results from focus groups to inform decisions for my brands, but I did not have very much “proof” of my skill sets outside of some client referrals. I knew that if I wanted to augment the qualitative research part of my business, I needed to provide my prospective clients with some proof or a “reason to believe” that supported my claim that I could deliver objective and insightful research results. The fact that I am now a certified qualitative research moderator provides my brand stronger credibility that I can deliver the benefits of well-executed qualitative research.
Just as having a set of compelling brand benefits and a brand character are critical components to a well-defined brand, having reasons for your target customers to believe that your brand can deliver its benefits is equally important. Reasons to believe are facts that provide credibility to your brand as they explain how or why your brand delivers its benefits. Therefore, every brand benefit should have a corresponding reason to believe to support it. Additionally, as with all other brand building components, reasons to believe are strongest when they are relevant to the target customer in some way. Here is where customer research and understanding continue to be a key input into the brand development process.
Aside from providing believability and authenticity to your brand, reasons to believe differentiate your brand from competitors. Most brands that have similar benefits do not have the same reasons to believe, and even if they do share some proof points, the total package of reasons to believe for each brand is sure to be unique.
With all of this said, I find it intriguing that many organizations fail to focus on or communicate their reasons to believe to their target customers. Many brands have strong supporting evidence of their benefits such as a dedicated history in the industry or an unmatched emphasis on quality, but they do not communicate it. Other brands need to invest in creating proof to support their benefits such as utilizing spokespeople or attaining some form of accreditation/endorsement. In either case, leaders of brands should spend some time thinking through their brand’s reasons to believe and how to effectively communicate them as emphasizing a brand’s reasons to believe will lead to a more credible and differentiated story for selling the brand’s benefits.