Insights into Brand and Product-Specific Marketing (C)

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Product Marketing vs Brand Marketing

Brand marketing and product marketing are two very different marketing types that can do well when combined. Brand marketing is a long-term project, whereas product marketing can show effects quicker.

BRAND AND PRODUCT MARKETING DEFINED

  • Brand marketing is by nature a long game. It is measured long-term and does not happen overnight. Brand marketing has a focus of building an image or brand identity. This is a broader strategy that goes straight to the heart of the consumer, portraying the business as a "trusted friend."
  • Product marketing usually has a short-term purpose. It focuses heavily on the benefits of the product, not the brand.
  • Jeff Bezos, CEO of Amazon, gave an excellent definition of a brand: "Your brand is what people say about you when you are not in the room."

PRODUCT MARKETING INSIGHTS

  • VIDEO
  • In 2018, 75% of all communications were visually based. Within the next three years that number will be 90%.
  • Videos allow a customer to quickly check out how a product performs.
  • Home improvement companies like Lowe's and Home Depot are perfect examples. They have how-to videos so customers can see the product in use before they buy.
  • Marketers who employ video grow revenue 49% faster than non-video users.
  • Viewers are 64-85% more likely to buy a product after they watch a video.
  • Almost 50% of users will search for a video before they head to the store to purchase a product or service.
  • CHATBOTS
  • With the addition of online presence, stores are open 24 hours per day. Chatbots enable a customer to get questions answered immediately whether someone is monitoring the site. They can also make a purchasing experience more memorable.
  • AUGMENTED REALITY (AR) & ARTIFICIAL INTELLIGENCE (AI)
  • AR makes it much easier for the consumer to get information, to experiment with products and make purchasing decisions. Examples: IKEA and Wayfair both have apps that let customers see furniture to scale.
  • Pokemon Go used AR to allow people to catch their favorite character in 2016 and had 65 million users.
  • AR is growing at ten times the speed of VR, mostly in part to its delivery method and not needing special gear.
  • We will begin to see AI evolve into data-driven personalization.

BRAND MARKETING INSIGHTS

  • BRAND IMAGE
  • With over 71% of consumers considering brand image and trustworthiness as major purchase influencers, it is beneficial to take a look at brand priorities.
  • EXPERIENCES
  • Brands will continue to look for ways to pull their customers into the brand rather than forcing it on them by offering experiences in a virtual and physical sense. Expect to see more pop-up stores, online experiences, and mono-branded stores, restaurants, spas, and hotels.
  • Experiential commerce is on the rise. It is about connecting your strategy to experiences and relationships with your customer, and thinking beyond just a single transaction.
  • Brands are more often being labeled by how the consumer can relate to them.
  • EMOTIONAL CONNECTIONS
  • Brands need to be known for something meaningful, or else they struggle. Connections are important to the Gen Z era, which makes up 30% of the US population.
  • Brand loyalty is improved by emotional connections to the brand. "A brand staying true to a real, long-standing purpose and strong, clear brand values will be the ones to engender brand loyalty and meaningful relationships with customers." This doesn't necessarily mean changing the world, it can simply be consistently providing excellent products and services.
  • Once a consumer associates a positive emotion with a brand, loyalty and engagement increase. Forrester states that the emotional connection has a 50% greater impact on "driving positive business outcomes."
  • With 77% of people having a social media account, and 3.7 billion global users, social media provides an effective outlet to connect and humanize your brand.
  • Forrester states that if a brand can consistently communicate that they are reliable or trustworthy, positive sentiments raise by 20%, and consumer advocacy raises by as much as 15.4%.
  • SOCIAL ISSUES/PURPOSE
  • Consumers, especially younger ones, expect brands to take a position on social issues and to have a purpose. Lately, we have seen brands abandon the NRA, and Nike supporting Colin Kapernick. Non-controversial positions pose less risk, and state something about your brand that the consumer can identify with.
  • Nearly two-thirds of people surveyed by The Edelman's Earned Brand Study stated they would leave or change brands depending on their stance on social issues. Over 50% of Gen Zers state they would consider whether a brand had dedication to a social issue when choosing a brand.
  • CONNECTING THE BRAND ONLINE AND IN STORE
  • Businesses who can get their shoppers to shop online and in-store get a 30% higher lifetime value from that customer.
  • Almost 60% of shoppers look up information about a product while in-store. Having an app that can facilitate this process while promoting the brand is helpful.
  • Apps also can assist with personalization. 79% of consumers say they are only likely to engage with an offer if it has been personalized to reflect the relationship the consumer has with the brand. This goes hand in hand with push notifications, which have an open rate of 53.3%, a very high number.
  • BRAND EXAPMPLES
  • Nike is the perfect example of a company that has perfected their brand. Their "Just Do It" campaign is so strong, that it does not have to mention a specific product, but it does strike an emotional note. This slogan has helped generate over $9.8 billion in sales.
  • Harley Davidson has used brand marketing to create a brand that has become more than just a motorcycle. The brand represents a lifestyle.
  • Approximately 56% of businesses state they use big data to analyze customers. Big data is the easiest to gather, but small data gives more insights to the emotional drivers.

BRAND -V- PRODUCT MARKETING- WHICH IS BEST?

  • Bringing together product and brand marketing gives a business leverage.
  • Many companies have shifted to add in heavier brand marketing in addition to product marketing, to make sure there are no missed opportunities.
  • Brand marketing is seen as more effective, as it uses emotions to build up an idea of more than a single product.
  • Product marketing is easier for global brands with huge budgets.
  • Whereas product marketing is great for products that speak for themselves, or products with unique features, brand marketing can help you stand out in a crowded marketplace and build customer loyalty.

Research Strategy

To find insights and trends for both product and brand marketing, we consulted twenty different marketing reports, studies, and blogs by marketing companies.

We were able to locate many qualitative and qualitative insights, although there were far more qualitative insights than qualitative. As qualitative results did not show the whole story, we included quantitative results as well. Market research for brand and product marketing that had actual qualitative facts focused on marketing as a whole and examples, when given, where of larger companies, not smaller ones.
Sources
Sources

Quotes
  • " It’s About Experiences. Brands will continue to look for ways to “pull” consumers into a brand rather than “pushing” the brand at them. There will be more “experiences” offered to consumers – both virtual and physical – such as creatively driven pop-up stores; online experiences; new, permanent mono-branded stores (for instance, the new Cover Girl store in New York City); malls featuring spa services, tailoring, personal stylists; branded hotels (like the Shinola Hotel opening in Detroit and the Restoration Hardware Hotel opening in NYC); themed restaurants (the Kellogg’s Cereal Café is one example); and themed exhibits (such as National Geographic Encounter: Ocean Odyssey in NYC). Brands and consumers will become more “entangled.”"
  • "AR Wins. Augmented Reality (AR) makes it easier for consumers to get information, see and experiment with products, make purchasing decisions and directly engage with a brand. When it comes to Virtual Reality vs. Augmented Reality, AR will become the technology of choice in the shopping journey, as it brings experiences to our real world instead of placing consumers in a fantasy world. Examples include both IKEA and Wayfair which have apps that allow consumers to see actual furniture (to scale!) in their own homes."
  • "4. Take a Position. Brands are increasingly aware that younger consumers want their brands to take a position and to have a purpose. Sometimes brands are compelled to take a controversial position, such as abandoning the NRA following the shooting last February at Marjory Stoneman Douglas High School in Florida. Or they voluntarily take a controversial position such as Nike’s Colin Kaepernick ad. And, frequently, brands simply adopt non-controversial positions such as fashion brand Everlane promoting manufacturing transparency and sustainability. Expect to see brands of all stripes taking positions on topics meaningful to consumers. Brands can no longer remain on the sidelines."
  • "5. GenZ Comes of Age and the Alpha Generation Gets Started. More and more attention will be paid to GenZ (born after 1998) as the older end becomes consumers. They are 25% of the population and will be a bigger wave than both Millennials and Baby Boomers. They are digital natives and know little of the world before smartphones, Amazon and Google. Digital connectivity, on multiple platforms, comes easy to them. They want their “brands” to act more like advisors than salespeople, brands that they can consider “real.” So, look for brands to be adapting to this generation. However, brands will also increasingly focus on the Alpha Generation, born after 2009 (that’s not a typo!). These under-10 year olds are having an outsized impact on their Millennial parents’ shopping behaviors. And, even more than GenZ, they started swiping and using voice activation devices while they learned to walk!"
Quotes
  • "Methods of outreach by a brand can include the following: • Platform (TV, online, mobile, print, sponsorship) • Context (webpage, program venue, magazine, gaming) • Message (advertising or communications) • Experience (store, event, customer relationship management) "
  • "The singular objective? Emotional brand engagement. You want your brand engagement numbers to be as high as possible, because those particular numbers are validated leading indicators of customer behavior and category transformation. They tell you what consumers are going to do, as opposed to what they've already done!"
  • "Any appearance of ubiquity will create trouble for brands seen to have no authentic meaning or emotional resonance with which to engage consumers. To the consumer, the question is not, "What are you?" but "Who are you?" Sure, primacy of product is critical, but customer satisfaction ultimately kicks in, and it usually kicks hard and fast."
  • "Brands increasingly will need to become a surrogate for "value." Remember primacy of product? These days that's table stakes -- price of entry just to compete in the category. Real brand will be based on what's wrapped up emotionally in the brand, and what consumers believe the brand means to them or can mean to them. It's not just a matter of a brand saying it; it comes down to what the consumer is willing to believe."
  • "Differentiation will remain critical to brand success. Every marketer nods at that, but it's just gotten harder to achieve it. While true innovation will continue to show up on the rational side of the equation, differentiation increasingly will be dependent upon what the brand is able to offer consumers emotionally. That means identifying real emotional values -- not just producing more creative advertising and mobile videos. "
  • "Engagement is the way consumers will do business with you. Period. It is the ultimate brand objective. Marketers will need to continue to use the right platforms, programs, messages and experiences."
  • "However, brand engagement will be the ultimate objective that will guarantee future growth, customer loyalty and profitability. There's a simple test: Ask yourself, "Do I know what consumers expect from their Ideal in the category?" and "Where and how does my brand accomplish that?""
  • "If your answer has to do with price or lower fees, or charges or price tags, your brand is totally off the emotional engagement track it needs to be on."
  • "Augmented Reality Will Become Real Marketers will use the interactive experience of the real-world environment. The line between reality and augmented reality gets thinner and thinner every year as technology gets better and better. This interaction will be enhanced by multiple sensory modalities, including visual, auditory and olfactory. It's only a matter of time before this technology becomes part of consumers' everyday lives. Retailers have been using augmented reality to show customers how furniture would look in different rooms of their homes or apartments, or if the colors will match their motifs. The AR hit of 2016, Pokémon Go, allowed users to "catch" their favorite Pokémon by looking through their phones at the real world -- but with images superimposed. It attracted 65 million users. "
  • "Today's consumers are more visually literate and technologically agile than ever before. Video will dominate social. Most marketers talk the talk about "storytelling," and today -- and tomorrow -- visual content is at the center of storytelling. This year, nearly 75 percent of all communications were visually based. That number is going to go up to 90 percent in the next three years. Major platforms and social networking apps will need to improve feed quality and add interactive features. "
  • "Increased consumer expectations will come with a greater sense of commoditization. You may be known, but you will need to be known for something meaningful and important to consumers. Otherwise, you disappear. Brands are important to Baby Boomers and will be something you'll need to worry about with Millennials. Gen Z will make up 30 percent of the U.S. population, so when you do real brand planning, you really need to keep them in mind."
Quotes
  • "AI and machine learning gets deep and personal- For us, the enormous power of opportunity that exists with machine learning means that 2019 will be the year that personalisation steps beyond retail and ecommerce, and into powerful data-driven personalisation in the content marketing space. Advances in the use of data and decisioning tools will facilitate fast progress in this area. Next year and beyond, personalisation will be increasingly rooted in developing a deeper understanding of individuals through data, and being able to serve better, more relevant and more seamless brand experiences to invoke actions, feelings and responses. "
  • "In line with the growing demand for authenticity with influencer partnerships, there will be an overall focus on ‘brand’ in 2019. While the use of Chatbots and technology moves many brands away from human interaction, brands will be increasingly looking at how their customer experience can feel ‘more human’."
  • "Similarly, consumers increasingly want to deal with brands that have better ‘ethics’. A brand staying true to a real, long-standing purpose and strong, clear brand values will be the ones to engender brand loyalty and meaningful relationships with customers. That may be a commitment to saving the earth, helping those in need or just providing really genuinely great products and services that don't compromise those things."
  • "AR to outstrip VR? AR and VR are often mentioned together but in truth it is AR (augmented reality) which is growing at 10x the speed of VR (virtual reality). The beauty of AR is that it enhances existing experiences and does so via the devices that we use day in, day out - mobiles, laptops and tablets - unlike VR which relies on headsets for a truly immersive experience."
Quotes
  • "Social Media Marketing Trends In the U.S. alone, 77% of people have some type of social media account — and globally, there are over 3.7 billion social media users. This is why social media marketing is a popular trend that's become a part of almost every business’s greater marketing strategy. Social media marketing allows you to authentically connect with your audience on a personal level, humanizing your brand "
  • "In fact, authenticity in marketing is more important than ever to consumers. AI is also incredibly helpful when collecting and analyzing data and making data-driven decisions. So, research ways you can incorporate AI into your business's marketing strategies to better serve your consumers and to make your life simpler."
  • "Virtual reality is viewing a computer-generated, lifelike scenario. Augmented reality is viewing the real world augmented with visual, haptic, olfactory or visual additions. VR and AR offer different experiences, but both are making waves in the marketing world today. They’re affecting your lives, too. Ever watched a 360° video on Facebook? That’s VR. What about IKEA’s IKEA PLACE app which helps you visualize virtual furniture in your very real room? That’s AR. "
  • "According to Martinet, experiential commerce is on the rise and requires a shift in mindset across the organization. “It’s all about refocusing your strategy around experiences and an ongoing relationship with your customer, rather than just vying for a single transaction,” she explained. "
  • "“It’s loyalty 101: The one-time transaction might bring in some short-term results, but it’s the true fans of your brand and products who will be lifelong shoppers,” she said."
  • "We’ll see a continued focus on seamless experiences across different channels and platforms” as brands continue to try and remove friction and pain points across the ever-growing number of customer touch points that could potentially lead to a transaction, he said."
  • "In addition to online, the move toward experiential commerce will be felt offline as well, McKinsey’s Heller said. Studies already show that consumers who shop both online and in-store have a 30% higher lifetime value than those who shop using only one channel."
  • "Today, nearly 60% of shoppers look up product information and prices while in stores, and that number is going to grow next year. And now that augmented reality is available to hundreds of millions of iOS users across the globe, we’ll likely see retailers and brands building more mobile experiences that overlay real-time information onto a shopper’s surroundings in a store, he said. "
Quotes
  • "Crafting a brand is important because the way your potential clients see your brand influences their buying choices. And companies that win are the ones that tune their brand experience in every aspect of their business – starting with their product."
  • "Now here’s the key: A product can have an excellent product-market fit, but the moment you bring brand fit and product market fit together you get leverage. The question asked most often is, “How and where do I start to bring brand-fit and product market fit together? And this is what you should know: To get to your brand fit, start by asking yourself (and eventually your team) a very simple question: “Why does my business exist?” "
  • "In other words, what is the big problem you are aiming to solve? Why do people need your product? What is your value proposition? When you come up with the answer, never forget it. Make this the defining factor for your value proposition, your product strategy and the way your organization sells and delivers the product/service "
Quotes
  • "Now, more than ever before, consumers are choosing brands whose messaging, marketing and values go beyond the product, and speak straight to the heart. In fact, 71 percent of consumers consider brand trustworthiness and identity to be major influencers on purchase decisions. This significant shift has prompted marketers to take a good hard look at priorities and focus more on building the brand to drive marketing success. "
  • "As more companies embrace this change and invest in brand marketing over product marketing, we’ve reached a crucial turning point that separates successful marketing strategies from missed opportunities."
  • "Today, both consumer expectations and the value they place on product and brand attributes are far from simple. Consumers no longer just want quality products and competitive pricing — they want a connection between their unique needs, interests, style and the brand. The ability to cut through the clutter with advertising that truly resonates is what grabs consumer attention and sets the winners apart. "
  • "Simply put, conveying brand identity in marketing and advertising effectively ties emotions into the buying cycle. Businesses that focus on brand individuality over products and services spark connections with consumers on an emotional level. "
  • "Once consumers associate a brand with a positive emotion, loyalty and engagement increases. In fact, studies showthat consumers rely more heavily on emotions than product and price when choosing between brands. Given the complexity of today’s omnichannel customer journey, emotional brand association and the benefits it provides can make all the difference in keeping consumers engaged across the buying cycle."
  • "Here are a few examples of brand marketing that works: Arguably one of the most successful Super Bowl commercials in the past decade, “The Force” ad by Volkswagen is a perfect example of focusing advertising on the relationship between a brand and emotion. With a 30 second run-time and a $3 million price tag, the ad aimed to raise awareness ahead of the the VW Passat’s U.S. market release in 2012. What makes this ad so interesting is that there are no mentions of price, features or capabilities. "
  • "The strongest brands are instantly recognizable, and Nike’s infamous “Just Do It” campaign is one of the best. The strength of these three simple words have propelled Nike products and motivated a population far beyond the target audience. “Just Do It” captures the essence of the athletic nature of Nike products, as well as the way people feel while exercising. The campaign speaks little to the quality of Nike products, pricing or benefits to the athlete. It does however, is speak to the emotions of Nike’s target audience, aligning the brand with consumers that are most likely to purchase. At the start of the campaign in 1988, Nike generated $800 million in sales. A decade later, sales exceeded $9.8 billion."
  • "Brand measurement by nature is long-term — spanning weeks, months and even years of aggregate measurement. In order to fully understand the impact of brand on marketing efforts, brand-related goals must be identified first, whether the goals are aimed at: • Influencing consumer perception to enable future sales • Shortening the sales cycle for a specific product or service • Affecting consumers directly or indirectly "
  • "Considerations for Brand Initiatives: • What is the current perception of the brand? • How will brand-focused ads and campaign initiatives strengthen the brand? • What messaging, emotions and interests are most likely to resonate with the target audience? • What channels and touchpoints will generate the highest engagement rates? • Are brand initiative goals identified? "
  • "As consumers continue to hold brands to a higher standard, it’s becoming increasingly difficult to not only grab consumer attention, but also maintain that attention across the buyer journey. That’s why marketers are now focusing on brand over product initiatives. Indeed, establishing connections with consumers on a more personal, emotional level has proven to increase ROI. "
Quotes
  • "Branding is a marketing term that refers to a company's efforts to build and maintain an image or brand identity. Product marketing occurs when a company delivers marketing messages and campaigns to promote a particular product. In general, branding is broader and has a long-term emphasis, while marketing for a given product often has a shorter-term purpose."
  • "The concept of branding for a business is very similar to the idea of a person building a reputation. A brand is the meaning behind the name, logo or other symbol used to signify a company and its products. Companies typically try to associate certain positive traits or attributes with it when using marketing to build a brand. Some companies try to establish themselves as leaders in innovation, while others make quality, high service or low costs differentiated factors of their brand."
  • "Branding is an ongoing and long-term marketing process. New companies try to build a brand early and established companies try to maintain and grow the value of their brands over time. Establishing a strong brand helps lay the foundation for company success over time. A strong brand reputation helps a company get better results when it attempts to market products because its brand identity has carryover effects with its products."
  • "Product marketing generally encompasses all of the marketing and communication messages a company delivers to promote a particular product. It begins at the conception phase, includes research and development of the product, and culminates in marketing to promote the benefits of the product to the company's target markets. While branding establishes the company's general image and strengths, product marketing conveys benefits of the given product being marketed."
Quotes
  • "Separating brand marketing from product marketing is key to making truly moving advertising, and it is a key component to emotional branding."
  • "Emotional marketing is a special type of marketing that looks beyond product marketing and goes straight for the hearts of the customer. Emotional marketing and emotional branding are ways of marketing a product in such a way that the customer comes to see the brand as more than just a product – they see it as a trusted friend. "
  • "The best companies in the world use these techniques to create brands that have universal appeal. In a way, emotional marketing is the antithesis of product marketing. Whereas product marketing focuses heavily on the actual performance of the product itself, emotional marketing goes deeper and finds out what the customer feels about himself and creates a brand, using brand marketing, around that feeling."
  • "Product marketing is a way of marketing that focuses on the product itself, without giving much thought or attention to the deeper feelings associated with the product or product category. Product marketing is a throwback to a different era of marketing. Back in earlier years, all a marketer would need is a catchy slogan to go along with their product and they were in business. Unfortunately, these days things aren’t so simple. Nearly every market is inundated with countless competitors ensuring that any meaningful product improvement made by a single company is rendered null within weeks. As a result, unless marketing for a product that is truly revolutionary, product marketing is just not a very good way to try to move products."
  • "Brand marketing is a more effective approach than product marketing because it uses concepts of emotional marketing to build up something more than just a product. In short, brand marketing differs from product marketing in that it seeks to build up a brand, or the collective feelings about the product held by customers, instead of a product. In this, brand marketing seeks to insulate companies from their competitors by not banking solely on the objective worth of their products. In the end, there are very few actual differences between products within a single category, so brand marketing comes out ahead of product marketing nearly every time."
  • "A great example of brand marketing and emotional branding done right is the case of Harley Davidson. Harley, through emotional marketing and emotional branding, has created a brand that has transcended its physical product of motorcycles. In fact, if motorcycles were to disappear from the planet tomorrow, the Harley brand would endure."
Quotes
  • "Demos, video, and VR demonstrations: Despite the whole discovery and purchase process getting faster and faster, customers still want to get a substantial amount of knowledge on a product before purchase. There is a new standard in information about products potential customers expect, particularly for service products. Demos and video demos are very popular and almost 100% necessary for digital products. What’s most important is that potential customers are able to check out products quickly and understand their features immediately to determine if it fits their needs"
  • "The better informed customers feel not just about the product but how to use it, the more likely they will be to purchase. For example, home improvement companies like Lowes and Home Depot and interior design companies share “guides” and “how-to’s” that are informative for their target audience and include their products. Hubspot, Shopify, and Mailchimp all create great content helping their customers to better use their products. By creating content around the questions and problems of their target market and including their products as part of the solution, they authentically push their products in an informative way. "
  • "With your shop online technically open “24/7”, your customers expect 24/7 service as well, in a way. Chatbots and live chat within SaaS websites and actually within products has become somewhat of an expectation. Customers have plenty of alternatives and alternate sources of information they will go to if they cannot get answers to their questions right away. Live chat takes that away when you provide it right during the decision making process. Live chat can also be used for lead qualification to determine which leads are big enough to require the support of your team by asking for industry, company size, etc."
  • "As people lose trust in online ads, influencers and micro-influencers have risen to the occasion through social media. “Ambassadors” do a better job at truly impacting consumers than ads because of their authentic and organic appeal. This is nothing new but it’s changed and become more powerful with new channels of social media. Ambassadors for your product are different from influencers. They are normally “regular” people who have amassed a following around something they are passionate about and their engagement is usually very high and authentic from their audiences"
  • "Customers from all around the world now expect personalized service. Personalization used to be a luxury some ‘cool’ companies played with on their sites, but now it’s essentially a necessity to get and keep a customer’s attention. 79% of consumers say they are only likely to engage with an offer if it has been personalized to reflect previous interactions the consumer has had with the brand."
  • "A really popular one that is getting higher open and engagement rates is push notifications. The average push notification open rate is 53.3%, which is crazy high. It’s natural for users both on desktop and mobile to receive notifications that open up windows and apps; the whole process requires less work."
  • ". Marketers who use video grow revenue 49% faster than non-video users. Promotional videos and video content outperform simple branded posts and are much more engaging. Video production can be expensive, especially for professionally shot videos but there are so many emerging tools that are helping marketing teams produce effective videos quickly"
Quotes
  • " Viewers are 64%-85% more likely to buy after watching a product video (Kissmetrics)."
  • " Nearly 50% of people search for videos related to a product or service before visiting a store (ThinkWithGoogle)."
  • " Marketers who use video grow revenue 49% faster than non-video users (VidYard)."
  • "The chatbot will likely be one of the most widely implemented forms of AI over the next year. Marketers are branding their chatbots so that customer service is both memorable and useful. These bots have humor or personality in their interactions with customers. And they are designed to offer personalized service."
  • "An example of this is Whole Foods’ Facebook messenger chatbot. Not only can you search for an ingredient, the chatbot also provides personalized recommendations; the customer just has to click on the ingredient emoji to receive recommendations for recipes."
Quotes
  • "No longer are marketers focused solely on moving a customer through the funnel. Now, marketers are creating experiences that promote brand affinity — and even advocacy."
  • "The growing momentum of social e-commerce, inclusive marketing, or brand activism means that marketers are connecting authentically with their customers."
  • "Video is a particularly effective format that can be integrated into different stages of the buyer journey, while the data collected by the social networks enables brands to create personalized experiences through paid social."
  • "According to 69% of respondents to Edelman’s 2018 Trust Barometer Global Report, the number one job of CEOs is to build trust in the company. Building trust is also crucial for content marketers. "
  • "In 2016, Colin Kaepernick became a household name when kneeled through the national anthem before his 49ers games in protest of several police shootings of unarmed African-American men. The protest incited a heated debate. Some agreed with Kaepernick’s stance; others saw it as insulting. Once a free agent, Kaepernick lingered, unsigned by a team because of the fear of repercussion. Though he remained on Nike’s roster of sponsored athletes, they didn’t know how to promote him at first. The campaign was provocative and unapologetic. A bold move best suited for Nike’s 30th anniversary of the “Just Do It” campaign. And it ignited the debate further — some burned their Nike products live on social media. Others praised the brand for its support one of the most inspirational athletes of this generation. But what would seem like a gamble for Nike actually turned into a winning move for its core consumers: two-thirds of which are under the age of 35 and a consumer based that is ethnically diverse, reports Bloomberg."
  • "Tech Giants like Apple, Google and IBM rallied against Trump’s immigration policy. And Dick’s Sporting Goods banned assault weapons after the Parkland school shooting. In 2019, more brands will be getting off the fence when it comes to controversy."
  • "According to Edelman’s Earned Brand study, nearly two-thirds of the survey respondents choose, switch to or boycott a brand based on its stand on social issues."
  • "In fact, more than 50% of Gen Z-ers agreed that a brand showing dedication to social impact is an important factor when they make purchases, according to a survey by MNI Targeted Media Inc."
  • "Marketers and business leaders should look to their organizational values to dictate which social issues mean the most to the brand — and their consumers."
  • "Marketers need to work with product managers, technologists, data analysts, and developers. They need to work with customer service specialists and the sales team. Together, they create the experience of the customer journey. "
Quotes
  • "Another common marketing trend over the last few years has been an increase in video. It makes sense — according to a report by Cisco, video traffic is projected to make up 81% of all internet traffic by 2021, up from 73% in 2016.[*]"
  • "Video marketing doesn’t have to be daily, weekly, or even monthly videos. It can be as simple as product videos, demos, or explainer videos. In fact, those three kinds of videos are the most common that businesses had created by late 2017 (see below).[*]"
Quotes
  • "Brand building is more important in a digital world than it is in the old economy,” Binet told delegates at the Advertising Research Foundation’s (ARF) 2019 AUDIENCExSCIENCE conference."
Quotes
  • "Historically, global brands have operated from a product-marketing perspective. And that's because they have large budgets to do so. Television ads, radio ads and product placements all cost money (lots of it). Conversely, smaller businesses and grassroots organizations have embraced brand marketing. But the popularity of the Internet kinda changed everything."
  • "Benefits of Product Marketing • Great for quickly introducing yourself to a large audience. • Easy way of re-introducing yourself to your target market. • Beneficial for promoting products that "speak for themselves" • Ideal for promoting never-before-seen features, benefits and services."
  • "Benefits of Brand Marketing • Great for uniquely positioning yourself in a crowded space. • Effective way to organically build customer loyalty over time. • Effective at changing perceptions and introducing new ideas. • Ideal for companies with interesting founding stories and backrounds. "
Quotes
  • "Decades ago, branding was defined as a name, slogan, sign, symbol or design, or a combination of these elements, that distinguish one company, product, or service from another. Today, branding is more complex and even more important. "
  • "Branding is not just about getting your target market to select you over the competition. It's also about getting your prospects to see you as the sole provider of a solution to their problem or need. "
  • "In its essence, branding is a problem-solver. A good brand will: • Clearly deliver a message • Confirm the brand's credibility in the marketplace • Emotionally connect target prospects with a product or service • Motivate the buyer to make a purchase • Create user loyalty "
  • "To succeed in branding, you must understand the needs and wants of your customers and prospects. You can achieve this by integrating your brand strategies throughout your company at every point of public contact."
  • "Your brand is the source of a promise to your consumer. If you're billing yourself as the manufacturer of the longest-lasting light bulb, your brand has to live up to that."
  • "Branding not only creates loyal customers, but it also creates loyal employees. A quality brand gives people something to believe in and something to stand behind. It helps employees understand the purpose of the organization they work for. They feel like they're a part of something significant and not just a cog in a wheel. "
Quotes
  • "New research by Forrester Consulting, commissioned by FocusVision, found that how a customer thinks and feels about a brand are statistically significant drivers of their loyalty, advocacy and purchasing decisions. Further, a customer’s emotional connection with a brand has a 50% greater impact on driving positive business outcomes than what they think."
  • "In short, emotions drive business results."
  • "With just small tweaks, brands can increase purchasing rates, improve loyalty and maintain subscriptions, according to the study."
  • "Emotion’s role in decision-making is widely accepted in the marketing community. The same Forrester study found that 93% of companies agree that consumers are more likely to spend money with a brand that they feel connected to. Additionally, 88% agree that better understandings of how their customers think and feel will help them win new customers."
  • "However, despite the recognition of the role of emotion, only 38% strongly agree they know why one customer chooses to buy from their brand and another doesn’t."
  • "More than half (56%) report relying on big data to answer questions about how their customers think and feel. But big data (i.e., clickstream, transactional, POS, CRM, location, etc.) can only indicate what consumers are doing, not why they are doing it."
  • "This is demonstrated in the Forrester study, which found that big data—such as the frequency with which consumers interact with the brand, the length of time the consumer has subscribed to the brand, and the frequency with which consumers purchase from the brand—are not statistically relevant indicators of how they’ll act."
  • "Understanding their likes, dislikes, routines, and values as well as other contextual information around how, where and why they are using your product or service provides essential information to drive your brand forward. The Forrester study shows that small data isn’t just nice to have, it’s essential when it comes to winning over your customers’ hearts and minds."
Quotes
  • "FocusVision commissioned Forrester Consulting to investigate the motivations underlying consumer decision-making. The study found that the way customers think and feel about an experience can predict how they will act toward a brand."
Quotes
  • "56% of brands say their strategy is informed nearly or fully by big data. This overreliance has led to challenges in customer understanding, technology, and organizational communication. › Small data is better at conveying how customers think and feel."
  • "Brands using small data as a basis for their knowledge of how customers think and feel are more likely to say they know why one customer chooses to buy while another doesn’t. They’re also better equipped to avoid or overcome key challenges in the areas of people, process, and technology"
  • "BRANDS WANT TO UNDERSTAND THE DRIVERS OF CUSTOMER ACTION BUT FEW ARE ABLE TO Nearly all the brands we surveyed agree that customers have greater affinity for brands that resonate with them more deeply — a connection to their identity beyond what is merely a positive or negative experience. However, few brands understand their customers enough to grasp what changes would drive positive customer outcomes. "
  • "Brands understand that consumers will seek out and pay for a more personal brand connection. Ninety-one percent of brands agree that customers want convenient and highly personalized experiences when interacting with a brand, and 93% agree that consumers are more likely to spend money with a brand they feel connected to. › Brands know their business will perform better given a better understanding of how their customers think and feel. Brands agree that a deeper understanding of their customers will empower them to win new customers (88%), innovate better and faster (86%), and better engage customers (86%)."
  • "Only 38% of brands strongly agree they know why one customer chooses to buy from their brand while another doesn’t. There is a telling disconnect between what brands say they understand about customers and what value that understanding lends them. What’s missing from the equation? What is holding them back from deeper customer understanding?"
  • "Brand qualities like trust, helpfulness, and value play the strongest role in driving action. Looking at the variables nested within our “think” and “feel” categories, we find that some underlying emotions and attributes play a stronger role in driving outcomes: 1) “trustworthy” and “has reasonable prices” drive purchase; 2) “helpful” and “reliable” drive loyalty; and 3) “has reasonable prices” and “reliable” drive advocacy. Overall, as we noted with the larger categorical variables, aspects of how customers feel are most relevant."
  • "For example, we found that if a brand were able to consistently communicate “reliability” to consumers, such that average positive sentiment rose 20%, the brand could expect likelihood for consumer advocacy to rise by as much as 15.4%. ›"
  • "Fifty-two percent of brands agree or strongly agree that small data is better than big data at helping brands understand the thoughts and emotions behind the actions that customers take"
Quotes
  • "The terms “product marketing” and “brand marketing” get tossed around in casual marketing conversations, but do you know exactly what they refer to? It’s OK if you don’t. That’s why DemandZEN is here to go over product marketing vs. brand marketing. By your next marketing meeting, you’ll be chiming in."
  • "Product marketing is about one thing: the product. Who makes the product doesn’t really matter. You won’t be marketing based on track record in product marketing. All that matters is what you can say about the product: features, benefits, use cases, testimonials, and demonstrations."
  • "You’re not concerned about what the company behind the product brings to the table but rather the individual offerings of a product or service. Product marketers should know their product inside and out: what it can and can’t do, what products are similar to theirs, and what makes their product the best."
  • "When we refer to a “brand,” we’re referring to everything that encompasses a company: their logo, color scheme, products, culture, attitude, style, voice—you name it! It’s the mise en scène of the marketing world, since brand marketing also refers to absolutely anything visible about a company."
  • "“Building a brand” is not about marketing your products, but instead about defining who you are as a company. Elements of brand marketing include a mission statement, style guide, or your logo. Brand marketing is concerned with spreading awareness rather than explaining how something works or what benefits you’re likely to get out of it. "
  • ". Take a look at the clothing company Threads For Thought: They have a mission of providing environmentally friendly and sustainable clothing that doesn’t use child or low-income laborers. This is reflected in their logo (a peace sign!) as well as the sales they choose to run. They don’t celebrate Earth Day, they celebrate Earth Week."
  • "Millennials go for brands that support their personal beliefs rather than their bottom line. And there are so many brands out there promoting a world-saving lifestyle rather than a product."
  • "There’s no right or wrong answer to which is better when you’re looking at product marketing vs. brand marketing. Just like with most things in marketing, certain companies will value one over another. Sometimes it depends on how new a business is. Older, well-established organizations with well-defined products and competitors (i.e. Pepsi and Coke) are more likely to focus their attention on brand awareness. On the other hand, start-ups with no competitors need to ensure their audience knows what their product is and exactly what it does."
  • "However, there are plenty of companies that fall in-between those two extremes. Some start-ups enter the market with dozens of competitors, so they need to work on differentiating themselves from those that already exist. Brand marketing is going to be just as important as (and probably more important than) product marketing for these companies. Meanwhile, older companies that decide to diversify their offering will need to work on defining their new products."
  • "But that’s not to say that you should commit to product marketing and abandon brand marketing, or vice versa. This is not a one or the other situation. Both need to exist if you want a well-rounded marketing strategy. "
  • "Brand marketing shouldn’t be purely emotional, and product marketing shouldn’t be all logic—find a happy medium where the personality of your company and the value you offer users is present no matter what type of campaign you run."
Quotes
  • "Even the most seasoned marketers sometimes get brand terminology wrong. On the one hand, some terms are incorrectly used interchangeably (e.g., brand strategy and communications strategy), on the other hand, some concepts are being unnecessarily differentiated (e.g., brand strategy and brand positioning)."
  • "Our favourite definition of a brand is that coined by Amazon’s CEO, Jeff Bezos: “Your brand is what people say about you when you’re not in the room.” The reason why this explanation is so accurate is twofold. "
  • "Firstly, it assumes that brand is created by the entire experience your company delivers – from big things like your products, people, processes, your company’s values, pricing policy, visual identity, and tone of voice, to smaller details like your leaflets or how you answer the phone."
  • "Secondly, it highlights the fact that what ultimately matters is what other people (your consumers, shareholders, employees etc.) think about your company and your products, not what you say."
  • "In other words, whatever you do as an organization, you are building a brand. Every single activity contributes to your brand’s equity and influences the opinion people have about your business."
  • "Therefore, at the most brand-centric companies, brand strategy constitutes part of the business strategy. What that means in practice is that brand strategy is being brought to life via all functions in the organization, including product, marketing, legal, technology, HR and others. "
  • "While the brand strategy should be a starting point for any marketing strategy, the scope of the marketing strategy is much wider. Marketing strategy focuses on how brand can be brought to life via product, price, communication and distribution (4P) in such a way that it will directly or indirectly generate revenue for the company. "
  • "Ideally, the brand strategy should stay the same for years (e.g., Nike’s and Coca-Cola’s brand strategies have been the same for decades), while the comms strategy might change more frequently as the market evolves."