Foundation Blocks of Brand Elements

In branding, brand elements are the framework to distinguish the brand by creating strong and positive bonds, awareness and feelings. Please think of the first brand that comes to mind, now think of why they come to mind. What sets them apart? To build the brand elements, there are six components that can guide us in the right direction. Let’s take a look through them all. 

1. Memorable 

One of the main points to consider is how to make the brand memorable. Making it memorable by creating your mark be easily recognizable that it clicks for someone when they see it. 

2. Meaningful 

People usually connect with a brand because of its meaningful story and its relation to them. There are two types of meanings to evaluate descriptive and persuasive. Descriptive is the general information about the brand and persuasive is the specific information to brand traits. 

3. Likable 

There are ways to make a brand ‘more’ likable by considering different elements. Creating an aesthetic and pleasing look, creating quality content that interests and attracts the consumer, can set the brand apart.

4. Transferable 

With the brand, there should always be a bigger picture. The transferable element needs to add to the brand’s equity in their lines and categories but also in market segments and expand geographically. 

5. Adaptable 

The world is constantly changing, and brands always have to adapt and adjust to fit the world of today. They need to be ready for change by being flexible and accepting that it can happen whenever. 

6. Protectable 

With a brand, there will always be a possible threat lurking around. It’s necessary to protect the brand legally and internationally to avoid all competition and strife. 

For example, a brand like Spanx uses all these foundational blocks. Let’s analyze how Spanx uses all these elements with their company. It’s memorable because her company has built such a company that her brand is known as the shapewear brand. It’s meaningful by giving her consumers confidence and is the recognized shapewear in the market. It’s likable because she makes unique content and offers resources and guidance professionally and through the brand. It’s transferable because it’s a solution for all women that can be taken anywhere. Adaptable because they have made various cuts and styles to work with anything women are wearing. Protectable because they have set themselves apart from the competition and have guarded themselves against other possible outcomes. 

“Brands are interesting, powerful concoctions of the marketplace that create tremendous value for organizations and for individuals.” Read more on lumens, principles of marketing. 

These six brand elements are essential to reflect on when creating, modifying and accelerating a brand. Consider these factors when building the blocks of your brand. 

Measuring Share of Voice

In marketing, there are a lot of metrics to consider when evaluating the success of your advertisements. For example, some to consider are impressions, reach, and frequency. However, we’re going to focus on the share of voice and the value in including it. 

Share of voice is how a company measures its relative difference compared to the others out there. A business should consider this measure to relate and understand its impact on the market competition. Let’s take note; it does not reflect the general effectiveness of the advertising campaign. It is merely a comparison to understand what’s out there versus what the company is putting out there. 

The typical analysis in a share of voice includes what the company spent on advertising and the total spending on advertising in the market. However, it might be more beneficial to look at the impressions rather than remove the influence of value contrasts. 

How to Calculate with Spending Value: 

Share of Voice= Company Ad Spending/ Total Ad Spending in Market 

How to Calculate with Impression Value: 

Share of Voice= Company Impressions/ Total Impressions in Market 

Understanding your company’s share of voice in the industry is a great way to comprehend the brand’s visibility. In an article by Sprout Social, they share the power of voice by sharing tips on boosting it and why it’s important. “By knowing your SOV, your brand has a better understanding of the challenges and your current position in the market, giving you more insight into how to achieve growth and captivate users,” said Sprout Social.

Your brand will stick out by having a strong share of voice. It’s a way to rule the discussion in your brand’s industry. It’s a strong measure to steer the brand’s direction and boost conversation in your industry. 

Elevating Your Influential Brand Value

In Keller’s Brand Equity Model, brand equity’s broken into four steps essential to building your mark’s assets. This is something that marketers should consider because they are questions the consumer answers regularly. Let’s examine each step in this model to elevate the brand.

1. Who is the brand? 

Identify how the brand is recognized and known by the consumer. It needs to be something that sticks out and that the consumer is aware of and pays attention to. Understanding the audience by learning their needs, wants and the reason for their relationship to the brand helps grow it. Think about why they chose you above the others and build unique selling propositions to understand the client’s reasoning and align it to your goals. 

2. What does the brand mean? 

Think about what your brand means to the consumer, and this is important for how it resonates with them and why it stands out. According to this model, the two building blocks are ‘performance’ and ‘imagery.’ Performance is how the brand satisfies the client. In comparison, imagery is how the brand serves the client’s needs on different levels. Consider how your brand is doing this through its connection and its impact on the customer. 

3. What does the consumer think and feel about the brand? 

Just like anyone, your customers will have opinions on the brand. With this question, think about their emotions and judgments. They will rate based on these four elements quality, credibility, consideration and superiority. These factors and other components can make the audience feel a certain way toward the brand. Take time to reflect on these and how to make your audience feel the way you hope. 

4. How much of a link does the brand have to the consumer? 

Reach brand resonance is the top and most challenging point of the brand equity model. To obtain it, the consumer needs to feel something more with the brand, like a profound attachment. For it to happen, consider these factors: behavioral loyalty, attitude attachment, sense of community and active engagement. 

Using these questions are a guide to elevating the influential brand in your consumer’s eye. When answering these questions, you’re building the brand’s identity, meaning, responses and relationship. Learn more about Keller’s Brand Equity Model on the Mindtools site

The Value of Analytics In Marketing

When marketing toward your consumers, looking at and evaluating the product’s data is essential to understanding what is working and what’s not. Analytics is a powerful tool that can offer so many insights into your customer’s interests and concerns. It’s a great way to have a new look at elements and consider a fresh take on what needs consideration. 

Analytics is an art and a science. The science in shaping the data and art in manipulating and creating importance in the data analytics boosting the company and it’s marketing efforts. 

It’s important to understand that data analytics needs separation into different categories like manufacturing sales data, retail sales data and intermediary sales data. 

Manufacturer Sales Data 

It’s vital since it pictures the sales that the manufacturer can capture legally as revenue. It may be the most accurate and complete data because it originates from the manufacturer and is data about their products. However, it may not always be reflective of customer trends. 

Retail Sales Data 

This data type is known as consumer takeaway. It represents the consumers’ purchases, which can be the most valuable to marketers because it also includes competitive products. It’s best to calculate price elasticity and to determine drivers of actual consumption decisions. 

Intermediary Sales Data 

It’s known as the replenishment data. It helps calculate inventory levels for intermediary industry associates. When retail sales data is not available, this is the next best indicator of consumer trends. However, it is lead by price increases and inventory corrections. 

Comprehending this data is critical to giving the analytical data value. To deliver and evaluate the information is essential to marketing to the consumers correctly. Once you break the data apart, you can use it better for the best way to market to your audience. 

Building Brand Equity

Building Brand Equity

In simple terms, brand equity is the value of the brand. It’s the customer’s responsibility to distinguish the brand name on the market in more complex terms. The brand can seize the customer through preference and loyalty. It’s essential to value positive brand equity highly. Now let’s talk about how to achieve it. 

Awareness

Brand Awareness is critical when thinking of equity; the goal would be for people to recognize the brand as soon as they see it and think of it positively. It’s essential to have recognition and recall. Recognizing the brand before being presented to it and recalling the brand when it’s brought up. It will give your brand power over its competitors because of their familiarity with it. 

Image 

The image has immense influence when thinking of brand equity. The concept is what makes it favorable and unique to others. Please think of the associations people make and how that can impact their purchases. There are two types of brand associations, brand attributes and brand benefits. The details are the traits that define it, while the services are the significance and intention the customers attach to it. The brand image matters in brand equity because they will make positive associations with this image when they think of their choices. 

Experience 

The customer’s experiences are a huge part of brand equity, whether it’s the first or fifteen experience with the brand, everything that happens throughout matters. Experiences build and shape brand equity in the client’s eye. It could be why they opt to go for this brand versus another. A bad experience could leave the client never returning and telling everyone of it, giving low brand equity. 

According to Marketing Evolution, “When consumers believe in the values put forth by a brand and the quality of their products, they will pay higher prices to purchase from that brand. Additionally, should an organization want to add new product offerings, marketing them under the same umbrella brand will help the new product take-off faster, as trust has already been established.” 

All of these factors matter when building your brand’s equity. Make sure you’re doing all you can to strengthen and grow your brand’s equity. 

Appeal to Your Audience with Infographics

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Nowadays, a good visual representation is a great way to capture the audience. Have all this data and information and aren’t sure how to share it? Consider an Infographic! Infographics are used more commonly today and a great way to fascinate the viewer visually. Let’s take a look at why. 

Attract them with Eye Catching 

Instead of just handing out an excel sheet or presenting a word document, use an infographic to really catch everyone’s attention. There are many free templates on various websites like Canva, where you can fill it in or customize one to your liking. It’s a great way to emphasize what’s important and key takeaways. Additionally, you can structure it the way you would like it to present it to create a flow when you present or read it. 

Visuals, Visuals, Visuals 

Visuals are easier, quicker and more engaging. With infographic templates, it is so much easier to design practically anything from a timeline, graphs and so much more. It’s all there at the tip of your fingers; all you have to do is input the information. It’s easier and quicker on the eyes for someone to look at the data this way, plus it’s more fun! 

Multiuse For Them 

While you’re planning on using them for your next presentation, infographics can be used in so many ways. They can be used as flyers, website documents, social media material and more. They can be used for all your platforms and attract different people instead of a common picture or graphic. They are a great and easy way to make information new and different. 

Infographics Are Here to Stay 

Now that they are so easy to make, they will continue to trend for a long time coming. They are a helpful way to present information through eye-catching attraction, visuals and their multipurpose use. Consider using an infographic next time you present information. 

Read how data used for growing personalization can help you develop.

Influence With the Right Influencer

pexels-daria-shevtsova-3326713.jpg Over the last few years, influencers and their marketing has expanded exponentially. Influencer marketing grows through a celebrity representative promoting brands and their products through their influencer and channels. How do we buy stuff now? Through a recommendation, either online reviews, influencers, or from people we know. 

Influencers are a huge way to increase sales on every social platform. People are more willing to buy something if they hear that it’s good, especially from someone they like. Influencers are a great way to market products and create sales. However, when using influencers, there are some elements to consider. 

  1. Messaging: Messaging is critical. However, it’s usually up to the influencer to share their thoughts and ideas over the product and brands. Try to offer an agreement to see some elements in advance, like an outline or a sample of the material. Maybe they can write up a few options in advance. This way, you can communicate what you hope and they can do the same. You can share thoughts and build from there. 
  2. The Right Person for the Job: In today’s world, influencers have become too common to recruit anyone. it’s necessary to make sure they fit what you’re selling. Don’t just engage them because of the number of followers. Want them for their work and their influence already. Please do this by seeing what they’ve already worked on and their target audiences to see if they align. Jenn Chen from Sprout Social says, “Influencer marketing works because of the high amount of trust that social influencers have built up with their following, and recommendations from them serve as a form of social proof to your brand’s potential customers.” (Links to an external site.)
  3. Budgeting: Consider the budget and what the options are. Maybe instead of going for one major influencer, you spread out your budgets to a few smaller ones to a narrow target audience. It shouldn’t be the only way you market your products; there should be other forms of media and advertisements. 

Influencer marketing is becoming a huge market and becoming more saturated every day. Finding the RIGHT influencer is the key. 

Read about How to Make Your Email Marketing Work. 

Data Use for Growing Personalization

pexels-christina-morillo-1181248.jpg There is so much data that is collected through our electronics daily. Our smartphones and computers can track our location, what we’re searching for, where we’re shopping, demographics and so much more. There are more channels for the customer to get the product. Data can change the way we customize the experience. 

While marketing research is fundamental and valuable, it may not always be an option to do and test. So while you can’t do the research, you can use this vast amount of data. 

  1. Similarity- Gather the points to find similarities and create personalized customer journeys and experiences. This will help you see the possibilities when thinking of who to market to. Finding your groups is essential to building these experiences and getting more sales. 
  2. Personalize- Now that you’ve created these groups, you can personalize by addressing the specific person being targeted, using retargeting, and adding different elements. If you use a company like Trailheads Salesforce Einstein for Marketing Cloud Basics (Links to an external site.) (Links to an external site.), you can use the AI to have ahead of time and all in place. 

Data can help businesses achieve more than we ever thought possible. The right approach is what matters; watch What Does Big Data Have to Do with Customer Loyalty (Links to an external site.) to learn more. 

Read about how to T-test After Your Market Research. 

T-Test After Your Market Research

pexels-startup-stock-photos-212286.jpg After completing market research, there’s usually a lot of data points to analyze. A t-test purpose is comparing two major groups from a single survey question. A t-test will let you determine the significance of the variable points and analyze what’s worth measuring in the future. 

T-Test Explained on Excel 

Grab all the data from the two variable groups you’ll be using in the test. Separate each into new sheet columns on excel. Organize them by gathering the raw data and categorizing them survey answers and questions. Once you have them organized, you can insert them into a new column organized by the categories responses so for example, male and female and then what’s being organized like age. Have a column for each of the options in the questions. 

Then create a new set of columns to organize the averages using excels formula. It’s so much easier than by hand and a time saver! That’s an extra point of reference to analyze the results. Next is finding the p-value, which is the level of statistical significance. A p-value of less than 0.05 is statistically significant and a p-value of higher than 0.05 is not statistically significant. According to Simply Psychology (Links to an external site.), “A statistically significant result cannot prove that a research hypothesis is correct (as this implies 100% certainty).” This is important in determining what hypothesis to accept and reject. To find the p-value, you’ll use the T-Test on excel, which can also be found under the function tab. After that, you’ll know your p-value and whether these results compared were significant or not. 

Marketers can really gain value and insights from this information. This will help you in future marketing research, determining what data points to test for.  

Read about how to determine whether you’re ready to conduct your research. 

How To Make Your Email Marketing Work

pexels-burst-374074 (1).jpg Email marketing is a great way to connect with your audience and promote your brand. Email marketing is growing and won’t stop anytime soon. 

It Works and Here’s Why

According to MailChimp’s article (Links to an external site.), “When you want to communicate something about your brand or sell your stuff, email marketing is one of the most cost-effective ways to do so. In fact, a 2015 study by the DMA found that for every $1 spent (Links to an external site.), email has an average $38 return on investment (ROI) (Links to an external site.). When shoppers are ready to buy something, they often look for emails from their favorite stores.”

There’s a huge ROI with email marketing, but how do you get that? 

  1. Personalize– Emails need to be personalized because it’s expected and we have the power to do it. Address people and converse with them as you would in person making a sale. Engage them to click on that call to action by personalizing the experience. 
  2. Segmentation– Emails need to be segmented because not everyone is on the same buyer’s journey. Segmenting your audience and sending them the right email is critical to achieving success. The more segmented, the more related it will be to them. It will catch their attention more and hopefully get them to click through. 
  3. Emotion- It’s not just about writing their name in the email… Tug at emotion and create that emotional connection. Try being lovable and likable by being authentic, show what’s great and even express what’s not now and then. Give them a bone and pull them in. The goal is to create sufficient emotion to be interested in it. 

Email marketing is a huge market, especially with everything being digital. Use all of these tactics to create more conversions in your funnel. Now that you know all of this. Apply all of it in your next email!

Read more about why personalization is important in marketing.