21 common problems in Branding

Target audience

1. The target customers of the brand has not been defined in terms of who are they , what situations in their life may find the use of our brand, what do the customers want to achieve or avoid or fix, who are the competitors
2.  If it is defined, it has is not based on finding of reality
3. If it is defined, it is in only in the book and not understood by all employees

External Brand Expression 

1. The brand does does not promise anything to anyone. It is only a name and a logo.
2. The brand says unsubstantiated and meaningless POD  (‘Best Quality”)
3. Inconsistent messages at different touch points, audiences, media, campaigns, etc.
4. A crisis shows that the brand was never really serious about its promise.

Popularization of Brand Expression  

1. Special interest groups make the brand a “whipping boy” for some social issue.
2. There is little to no awareness of the brand in the marketplace.

Internal brand management mechanisms  

1. The product may have quality problems or be inferior to its competitors’ products
2. Internal organizational issues lead to brand and customer service dysfunction.
3. CEO and the CLT do not understand brand management and do not support it.
4. Every time the economy slows, marketing budgets are slashed .
5. A new brand manager changes some brand element : whether needed or not.
6. Growth pressures force new products / services that blur the meaning of the brand.
7. Brand extensions have repositioned the core brand in a negative light.
8. The brand significantly alters its position : TA, Competition, Position, VFM line
9. Continual cost cutting makes the offering inferior. .
10. Brands proliferation with no clear position , differentiation or consumer targeting.
11. Branding decisions are ego- versus analysis-driven
12. Brand organization rested on their laurels and not kept up with changing  needs

10 Challenges for the Branding Organization

1)      Treating brands as assets : The ongoing pressure to deliver short-term financial results coupled with the fragmentation of media will tempt organizations to focus on tactics and measurables and neglect the objective of building assets.

2)      Possessing a compelling vision : A brand vision needs to differentiate itself, resonate with customers and inspire employees. It needs to be feasible to implement, work over time in a dynamic marketplace and drive brand-building programs. Visions that work are usually multidimensional and adaptable to different contexts. They employ concepts such as brand personality, organizational values, a higher purpose, and are beyond functional benefits.

3)    Creating new subcategories : The only way to grow, with rare exceptions, is to develop “must have” innovations that define new subcategories and build barriers to inhibit competitors from gaining relevance. That requires substantial or transformational innovation and a new ability to manage the perceptions of a subcategory so that it wins.

4)    Generating breakthrough brand building : Exceptional ideas and executions that break out of the clutter are necessary in order to bring the brand vision to life. These ideas and the execution of them are more critical than the size of your budget. “Good” is just not good enough. That means making sure you get more ideas from more sources, and that you make sure you have the mechanisms in place to recognize brilliance and bring those ideas to market – quickly.

5)    Achieving integrated marketing communication (IMC). IMC is more elusive and difficult than ever in light of the various methods you have to choose from such as advertising, sponsorships, digital, mobile, social media and more. These methods tend to compete with each other rather than reinforce because the media scene and options have become so complex, so dynamic, and because product and country silos reflect competition and isolation rather than cooperation and communication.

6)    Building a digital strategy : This arena is complex, dynamic and in need of a different mindset. The reality is, the audience is in control here. New capabilities, creative initiatives and new ways to work with other marketing modalities are required. Adjust the digital marketing focus from the offering and the brand to the customer’s sweet spot, which is to say the activities and opinions in which they are interested or even passionate about. Develop programs around that sweet spot in which the brand is an active partner, such as Pampers did with Pampers Village or what Avon did with their Walk for Breast Cancer.

7)    Building your brand internally : It is hard to achieve successful integrated marketing communications or breakthrough marketing without employees both knowing the vision and caring about it. The brand vision that lacks a higher purpose will find the inspiration challenge almost impossible.

8)    Maintaining brand relevance : Brands face three relevance threats: Fewer customers buying what the brand is offering, emerging reasons not-to-buy, and loss of energy. Detecting and responding to each requires an in-depth knowledge of the market, plus a willingness to invest and change.

9)    Creating a brand-portfolio strategy that yields synergy and clarity : Brands need well-defined roles and visions that support those roles. Strategic brands should be identified and resourced, and branded differentiators and energizers should be created and managed.

10) Leveraging brand assets to enable growth : A brand portfolio should foster growth by enabling new offerings, extending the brand vertically or extending the brand into another product class. The goal is to apply the brand to new contexts where the brand both adds value and enhances itself.

Difference Between Sales Opportunity and Lead

Lead  is  a qualified prospect who proactively wants to learn more. When I say “qualified”, I mean they’re an ideal individual and/or company to sell to (i.e. they are the type of prospect who typically has a problem that you can solve). When I say “learn more”, I mean that they’ve come to you asking for something. It can be a demo, a question, a white paper, something that proactively engages them in a conversation.

There is a big difference between a lead and a list. Handing your sales team a set of companies and contact information to cold-call isn’t a lead. That’s a list. Coming back from a trade show with a couple hundred names of badges you scanned is a list too. Unless they’ve somehow engaged you proactively, and have asked for a response, it’s not a lead.

Opportunities : In general terms, when a lead progresses to the point where they’re talking to you about a near-term purchase possibility, the lead can become an opportunity. Most organizations I’ve worked with have slightly different definitions of what qualifies as a new opportunity, but most often they have these characteristics in common:

• There’s an agreed-upon timeline to purchase
• A decision-maker is directly involved or is aware of the solution & timeline
• Budget is available or has been identified
• The buyer has agreed to and is working on next steps on their end
• There’s a catalyzing event or urgency driver internally that makes the purchase a priority

If you’ve converted a lead into an opportunity, it means you have an expected close date. It means you’re beyond wishful thinking and prospecting, and have a mutually agreed-upon plan with the prospect to get the thing done, to make a decision one way or another.

How can CFOs be gainfully involved in marketing

CFOs have experience leading finance organizations but they hesitate to inject themselves in sales and marketing conversations. 

Below are 4 areas where a CFO viewpoint will improve sales and marketing performance.

1. Revenue Growth vs. Customer Segment Growth is my revenue growing on pace with the customer segment? is this sustainable source of growth in the years to come?
   
2. Customer Acquisition Cost (CAC) vs. Customer Lifetime Value (CLTV): Look at the ratio of CLTV:CAC. The higher the ratio, the higher the Sales and Marketing ROI. For customers that require more resources to acquire, their CLTV should be higher. If this is not the case, you should not be pursuing these customers.
   
3. Pricing vs. Volume :Plot price relative to volume for each of your customers. What price is a customer paying for 1K units? Is it consistent or is there a lot of variability across customers? If there is a lot of variability across customers, listen to the market. It may be telling you that some customers are less price sensitive than others. Also cut this data by rep. If there is a lot of variability by sales person, you may have a talent/skills issue.
   
4. Sales Rep Comp vs. Territory Growth: sales Rep Compensation is the biggest expense in the sales budget . You should not look at territories by size. Just because a territory is big, does not mean the rep deserves extra compensation for managing it. It’s the growth of a given territory that should determine their compensation.

Buyer Persona

This is where modern selling begins in our current age of the buyer. Buyer personas should be research-based models of who buyers are, what they are trying to accomplish, what goals drive their behavior, how they think, how they buy, and why they make buying decisions, and where they buy as well as when they decide to buy. 

At a minimum it should include 

• Position (CEO, CFO, VP of ABC, Director of XYZ)
• Decision-making role (decision-maker, influencer)
• Buyer type (user, technical, economic)
• Goals /Needs/Wants/Desired Outcomes : Achieve, Avoid, Fix
• Main sources of information:  Where your persona does his or her research
• Challenges/pain points:  challenges and the accompanying emotions 
• Preferred content medium:  How your persona likes to absorb content
• Quotes:  Bring your personas to life with actual quotes 
• Objections:  anticipated from your persona during the sales process
• Role in purchase process:  his influence in the decision making process
• Marketing message:  The messaging that speaks directly to this persona

20 Qs in a Persona Interview

Role

1) What is your job role? Your title?

2) How is your job measured?

3) What does a typical day look like?

4) What skills are required to do your job?

5) What knowledge and tools do you use in your job?

6) Who do you report to? Who reports to you?

Company

7) In which industry or industries does your company work?

8) What is the size of your company (revenue, employees)?

Goals

9) What are you responsible for?

10) What does it mean to be successful in your role?

Challenges

11) What are your biggest challenges?

Watering Holes

12) How do you learn about new information for your job?

13) What publications or blogs do you read?

14) What associations and social networks do you belong to?

Personal Background

15) Describe your personal demographics (age, married, children).

16) Educational background : level, schools, subjects 

17) Describe your career path. How did you end up where you are today?

Shopping Preferences

18) How do you prefer to interact with vendors (email, phone, in person)?

19) Do you use the internet to research vendors or products? How do you search ?

20) Describe a recent purchase. Why did you consider a purchase, what was the evaluation process, and how did you decide to purchase that product or service?

What activities indicate your company has a customer focus?

1. Do you consider customer service as an integral and important part of your offering ? Are you aware of the needs of various types of customers and to what extent your competitors are meeting it ? Are you aware of what gaps do you need to fill and do you have explicit agenda for it?
2. Do you have sensible and validated mechanisms for measuring  satisfaction of various types of customers with you as well as that of your competition? Are you aware of the trends? Are you aware of what agenda you need to set as a result of the analysis of measurements?
3.  Do you know to what extent your various customers are loyal to you and why? Do you know the same about your competition? Are you aware of the trends?
4. Do all people in the company know the voice of the customer as loudly and clearly as the voice of the financial figures?
5. Do you know how you come across to your various types of customers at the various touch points (planned and unplanned) and what do the customers infer based on their experience? Do you know the same thing about your competitors ? Do you know what are the trends?
6.  Do you perform Win/Loss analysis to get a continuous updates on who your real competitors are and what you need to do?
7. Do you calculate Net Promoter Scores?
8. A Framework for using Customer Focus to drive sales  Basic customer focus process is using the customer’s (buyer’s) perspective to plan and execute the sales process and the 5 pillars are :

• Creating a model of Buyer Personas
• Mapping the Buying Journey and Buying Process
• Aligning Your Sales Process to this
• Understanding Market Conditions and Buyer Issues
• Aligning Your Sales Solution Architecture

Should you really select this customer ?

1. Can you deliver spectacular results? If not, consider letting someone else have the job. It's good to stretch yourself professionally, but taking on work that is not a good fit for your expertise is like writing a book, doing a triathlon, or acting—it's a lot harder than you think.
2. Do you really want to do the work? As you meet with a prospective client, find out whom you'd be working with and the nature of the work. Listen to your instincts. Do you want to work with the people you've met? Will the work be interesting enough to satisfy you beyond the money you'd make? Do you have a passion for helping the client reach the desired outcome? If not, consider walking away.
3. Are there big "whys" for the project? Why does the client need to do this project? And, why now? The answers will clue you in to the importance, relevance, and value of the project. If you want to grow as a consultant and make a meaningful impact, you should aim to work on clients' most pressing issues.
4. Does the proposed schedule make sense? One reality for 99% of projects is that everything will take more time and effort than you think. People are eternal optimists when they plan a project, so it's up to you to be the realist. You'll suffer throughout the project, and probably lose money, if you go along with an overly aggressive schedule. One test for schedule validity is to count the assumptions. As a rule of thumb, the more project assumptions, the less faith you should have in the planned schedule.
5. Can you tell if the project is funded? While knowing this answer is important, asking a client the question too directly can make it seem like you are interested only in the client's money. Besides, unbudgeted funds can miraculously appear when a good idea is on the table. Still, you should pay attention to the clues about the level of financial support for the project.
6. Will you be working with a decision maker? As much as we want to sell directly to decision makers, it's not always possible. But make sure you will be working with a decision maker on the project. You'll put project success and your sanity on the line if you must rely on a client team member who can't (or won't) make the essential decisions that every project demands.
7. Are you prepared to sacrifice something else to take on this work? Your final consideration should be about lost opportunity costs—personal and professional. If you use your time to work on this project, what must you abandon or delay? Be honest with yourself about what you won't be able to do and about the anxiety you may feel for not attending to other urgent matters.