Brand strategy and brand management biases buyers before the sale
“Branding is making the market think and feel what you want them to think and feel about you and your products.”
Guy Smith, Silicon Strategies Marketing
Objective: Create preference for your product by biasing customer perception.
Benefits: Higher sales volume and closing rates with less selling effort.
Silicon Strategies Role: Defining your brand, connecting your value to the desires (both functional and emotional) and needs of the market.
Your brand is what the market thinks and feels about your company and your products. It is up to you to define what you want the market to think and feel, and make the market adopt this view. If you don’t, the market will define your brand, and the market is rarely kind.
Branding strategy requires as much thought as creating products. Silicon Strategies Marketing guides you in creating strong, defendable brands that match buyers’ emotive and functional needs.
Having a strong brand strategy gives you advantages against your competitors because few companies have a branding strategy at all. According to a 2002 study by Prophet, only 53% of global corporations had a branding strategy, and of those only 40% were satisfied with their strategy. Silicon Strategies Marketing will put you and your brand ahead of 79% of the competition.
Brand strategy has a direct impact on corporate bottom lines. An EquiTrend study showed that businesses with the largest gains in brand equity realized an average return on investment of 30%, whereas those with the largest loss of brand equity saw ROI decline 10%. It is not surprising that Coca Cola, one of the best designed and managed brands on the planet, has brand equity valued at more than $69 billion (according to Interbrand and Business Week).
If you don’t believe that brand equity increases
stock equity, just ask Coca-Cola or Nike.
Most companies do not invest time defining their brand, their branding strategy, or to conduct routine brand management. Thus they never earn brand equity. The indirect cost of not creating a strong brand are weak sales and market position, and a constant struggle to move forward. Silicon Strategies Marketing consultants lead you in:
- Documenting your distinctive value in the market
- Determining the functional and emotive drivers of your buyers
- Creating a viable intersection between who you are and what the market wants
- Distilling buyer motivations (within your brand framework) into meaningful language and images
- Educating executives on driving your brand internally
- Reviewing market messages for brand reinforcement
- Evaluating brand expansion, contraction and splitting for changing business environments
- Educating your marketing team on brand maintenance
Contact Silicon Strategies Marketing for a consultation concerning your brands, brand strategy and ongoing brand management.