Here at The Brandon Agency, we are driven by one thing: data. In the end, it all boils down to results and measuring the critical KPIs. For most of our clients, that translates to hitting their revenue and profitability goals.
For this to happen, a brand must first of all have a quality product, exceptional customer service and a full-funnel marketing strategy. If your brand is missing any of these elements, you will struggle to compete in today’s market. If you are looking to win and maximize your ROI, here are five key points for success.
1. Building the Foundation
Our approach to success starts with understanding the true performance of a brand. Data is at the center of all of our decisions and is the lifeblood of a brand’s health. Analyzing data on a daily, monthly and quarterly basis is essential to establishing a brand’s foundation. Making sound adjustments to marketing and business strategy should be grounded in data. Here is a list of the KPIs that drive our brand strategy and decision making process:
2. Understanding Your Audience
Authenticity is the magnetic field that pulls consumers to your brand and keeps them in orbit while you consistently and tastefully pull money from their wallets. Understanding what is important and emotionally relevant to your consumers is the key to keeping them loyal and interested in your brand.
With today’s consumer being super educated, you must be on point with your content, messaging, promotional programs and any other consumer touchpoints. Digging in with research and customer surveys is imperative in today’s world, and developing personas for your customer base is a great way to ensure that you have a guideline for connecting with each customer group. This research should also uncover where and when your consumers are spending their time connecting with brands. Your brand message must be on point, and it is also key to deliver it to the right channel at the right time. So many dollars are wasted on great messages that never make it to the target consumer when they have intent to convert. So, invest in research, and keep a pulse of your loyal consumers and the market. It will improve your ROI in the long run … guaranteed!
3. Brand Strategy
Evaluating brand strategy has gone from a once-every-couple-years timeline to an annual and, in some cases, even a twice-a-year process. Technology, consumer behavior and market trends are all changing very quickly. If it has been a while since you have taken a look at your brand strategy, it’s time to consider taking a step above the daily grind and making an assessment. At The Brandon Agency, we have developed a proprietary process to help brands navigate this essential task, and it’s called CONVERGENCE.
Convergence evaluates the current state of your brand— while recognizing the competition’s influence and position. Further, it brings together the thoughts, ideas and cultural considerations that are key to a brand’s success, all in an effort to develop a single-minded platform from which your brand can flourish.
Convergence is a highly strategic and disciplined process designed to create tangible and intangible connections between your consumers and your brand. For your brand, the Convergence process will focus on amplifying consumer appeal and, in turn, creating/enhancing the awareness, the perception and, most importantly, the value of your brand.
Convergence extends beyond the traditional framework of “marketing” by recognizing the importance of brand as a business asset. Through a clear understanding of your business objectives and strategy, we are able to create synergy between your business strategy and marketing strategy, allowing for the development of an overall organizational strategy.
Convergence is very much a collaborative process. By seeking the perspectives of key stakeholders (management, staff, consumers, partners, suppliers, influencers, etc.) within and outside of the organization (regardless of size), we focus on synthesizing the various thoughts, behaviors, motivations and actual experiences that shape the perception of your product/service/brand. The result is a single-minded platform that resonates with all stakeholders and allows for the development of deep and valuable connections with your consumers.
Guided by a Certified Brand Strategist at TBA, the execution of Convergence is a low-stress, highly engaging process for management and marketing teams.
4. Owned Media
Being your own best media company provides a fundamental opportunity to control your brand message and lead your customers down the best path to purchase possible. The key channels and opportunities include:
With today’s crowded landscape and hyper-competitive markets, having a consistent consumer experience is imperative. Your website, your social channels and the customer experiences your brand provides must be on brand at all times. Any mixed messaging, confusing content or a difficult customer experience will send a consumer looking for another option. The days of lifetime customers are all but over. Brands must win their customers over and over again to keep them purchasing products or services.
Developing a robust and active opt-in email database will provide your brand with a direct line of communication and an opportunity to drive revenue on demand. If your email database is not a focus, you better get after it and start building this very important and valuable piece of your business.
5. Third-Party Credibility
Actively soliciting customer experiences should be an integral part of your marketing strategy, and there is nothing better than your customers, influencers or other fans of your brand sharing their experiences for all to see. Providing them with platforms to share their positive (and sometimes negative) sentiments is critical. From social media comments to customer testimonials, you must leverage these to the fullest. This credibility will go a long way toward creating brand loyalty and will give prospective customers an added layer of confidence in your brand.
When it comes to standing apart from your competition, having a robust and friendly path to purchase for consumers will make all the difference. Consumers are looking for brands that understand who they are and their priorities, along with offering a brand experience that is easy to navigate. Keep it simple and on-brand while showing them you care!