In our latest article at Entrepreneur, Pete Canalichio and I examine why now, more than ever, the marketing consulting industry should be promoting an interactive brand ecosystem that more closely aligns the disciplines of brand insights, brand strategy, brand protection, brand licensing and brand valuation. The full article is available here. Hope you enjoy it. Feedback welcome.
Customer value is one of the most talked about aspects of marketing today, but many senior decision makers are hard pushed to articulate how exactly their business is creating meaningful customer value and how that tangibly contributes to their business being more valuable and competitive. Even if they can put that into words, a powerful customer value proposition itself is really just the start. Harder still is maintaining customer value over the longer term. Here’s why.
Dunkin’ Donuts has announced that it is dropping the ‘Donuts’ part of its name in selected stores in order to highlight there’s more to the brand than the products it’s synonymous with. But when you’re this well known, is changing your brand name a smart move?
It’s the next thing out of most people’s mouths the moment I tell them I work in marketing. They hate ads, there are too many of them, and who’s got time to watch television or read mainstream media these days anyway?
Once, it was easy to build brand trust. You used mass media to establish profile and credibility, you became a “household name” and that was pretty much it. No longer of course. The splintering of channels, new levels of transparency and increasing expectations from customers have made just ‘being’ a trusted brand almost impossible. Trust is now far from a given.
Every day, companies are pitched opportunities to take their business in a ‘new’ direction or to stay the course—by colleagues, by their consulting agencies, because of the actions of competitors or by delegations of customers or suppliers. It can be, as many a marketing manager has told me, bewildering. And many struggle to balance the strategic need to move things forward over the longer term with the plethora of more immediate demands for response or action. Singularity is hard in a world of distractions.
Everyone’s very quick to call almost any bad news another example of corporate scandals these days. We are in the grip it seems of “the outrage orchestra” as Chris Wren so delightfully describes it. Nevertheless, companies do get into trouble, and they emerge from those challenges in different states. Some seem to brush off what has happened while others falter. Why?
Call them rituals, ceremonies, habits … associating a brand with a set behaviour can have a powerful effect on loyalty and enjoyment.
Right now, it feels like almost every brand wants to hook their customers on sweet moments that have them coming back for more. But is that what people want or have brands simply made high-energy experiences the new must-add?
How should companies map more effective and engaging customer journeys? By recognising that such journeys are really about how customers feel over the course of the entire journey not just how they feel at any given point in that journey.