The Power of the Brand

The Power of the Brand
The Roadmap for Growth
April 30, 2014
Mark S. Lee
1
The LEE Group, MI LLC 2014
Entrepreneur Roundtable - Branding

Agenda
• The Essence of Branding
• Effectively developing a Brand planning process—
How?
– Key Components of a plan
– Simple steps to create a plan
– Key Criteria to use to Measure and Benchmark Success
2

What Binds the Organization And
Connects the Dots?
Simple Question…
3

Answer…
Your Brand!
4

What Branding’s NOT?
• It’s not just the:
– Product
– Pricing
– Packaging
– Advertising/Communications
– Promotions
5

But, Branding is…
• Embodies ALL and captures the essence of
the:
– Consumer
– Emotional connectivity
– Brand promise
– Delivers based on the promise
– Feels a void and satisfies a need
– Integrated communications
6

Popular Brands
• Nike
• McDonald’s
• Coca Cola
• ESPN
• Sports Illustrated
• Nordstrom’s
7

What Brands are These?
8

Brand Planning
• The role of brand marketing is to:
– Determine a longer-term vision for your business
– Identify relevant consumers to target
– Identify/build/enhance ongoing relationships with
consumers and customers
-Strategically target customer segments and focus on
profitable growth
9

The LEE Group, MI LLC
Now, Think of Your Business…
• As a brand
• Not a provider of a specific job but a brand
that provides more than specific services
10

Now, Ask Yourself…
What does my business represent and why
would anyone purchase my product or
service?
11

But, You Need to…
• Understand your Brand
• And, what makes your Brand unique relative
to the competition
• How do you do this?
12

Understand Reasons Why Consumers
Purchase You?
• Reasons might include:
– Fills a need
– Satisfies an urge/need
– Emotional connection
– Price/Quality
– It’s “hot”
– Represents you in some way shape or form
– Communicates something about you
13

What Makes Our Brand Different?
• What makes you different from the
competition?
– Point of difference
• Price
• Value
• Quality
• Customer Service
• Consistent Product and/or Service
• Others?
14

Starts with a Situation Analysis
• Current assessment:
– Internal operations
– Competition
– Products/Services
– Pricing
• In essence, helps you to identify “gaps”
15

Leads to SWOT Analysis
• (S)trengths
• (W)eaknesses
• (O)pportunities
• (T)hreats
16

Perform Research/
“Gap” Analysis
• Meaning…
– How do you perceive your business?
– How do others perceive your business strengths and
weaknesses?
• Generally, there is a “gap”
• What do I need to do to close the gap?
17

Brand Components
• A successful brand has:
– Vision
– A positioning Statement
– Recognizes its point of difference
– A strong sense of its strengths and weaknesses
– An understanding of its competitive set
– An effective communications plan
18

Vision Statement
• Longer-term
• More aspirational
• Focused, concise and precise
• Not to be confused with a Mission statement,
objectives and strategies
19

Mission Statement
• The brand purpose and reason for being
• Reflects organizational mission and reinforces
long-term direction
• Provides direction for goal-setting
20

Brand Defining Idea (BDI)
What is it?
• A BDI is the cornerstone of your Brand and
captures the essence of your business
– Who are you?
– What do you represent?
– What makes you different?
21

 Ultimately generates customer loyalty and business
growth
 Creates a consistent brand image in the minds of
customers and provides a reason to do business with
that brand
 Loyal customers tend to
 make referral
 give greater share of wallet to their preferred brand
 The BDI is not to be used as a tagline
22

• Delivers vision saliently and consistently...
– To all stakeholders such as customers, prospects, employees, sales force, business
partners
– Across all business units
– Through all brand communication touch points
• Creates an ownable and relevant point of difference
– Ownable –True to your equity and vision
– Relevant – Resonates with all constituencies
– Differentiating – Breaks the category commodity paradigm
23

Plan Creation
• Understand who you are and what your
business represents
• Identify or refine company’s vision and
mission
• Establish realistic, measureable goals
24

Plan Creation
• Clearly identify and target relevant customer’s
• Develop a marketing plan which addresses
market segments identified and how you're
going to reach them
• Establish budgetary resources
25

Plan Creation
• Establish measurement criteria
• Track results in a timely manner
• Build contingency plans
• Be transparent and FLEXIBLE
26

Questions?
27

Thank You!
• Site: leegroupinnovation.com
• Phone: (734) 507-0866
• Email: mark@leegroupinnovation.com
• Twitter: @leegroup
• Linked In: www.linkedin.com/in/leegroup
• Facebok: www.facebook.com/mark.s.lee.31
28

The Power of the Brand

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