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Measuring Return On Investment
...or Is My Brand Working?
To measure the impact and effectiveness of marketing and branding on the bottom line alone is a mistake. There are far too many facets of the success equation. It is easy to lose enthusiasm and focus if there are no intermediate benchmarks of success for activities that will ultimately affect the bottom line.
The value of reputation, relationships, brand awareness and consumer attitudes related to your business, are impossible to measure just on financial return.
A thorough evaluation of where your business is now and the identification of the most important next goal is a good place to start.
Other measures of ROI are:
-number of leads generated
-total sales revenue generated
-change in awareness of your brand ? attention form the media
-change in market share
-change in buying pattern re products, days etc.
-change in intent to buy
-increase in incremental sales revenue
Look for ways to track your progress keeping the end in mind. It is all about prioritizing and being able to identify and sort the factors that are crucial to your success, from the insignifcant details it's so easy to get caught up in.
It may feel more productive to be doing, but it is actually more constructive to be planning. The odds of achieving marketing success increase exponentially if you are aware of what has succeeded and failed in the past. 80 to 90% of effort is well spent on identification, planning and determining the success metrics, with the balance on execution and assessment.
The owner of a successful business or product is often reported as saying, "It seemed to develop a life of it's own and just take off." It could be a lucky break but often it's the result of years of experience and thought finally put into action.
Nancy Fraser is the President of Nota Bene Consulting a marketing and advertising firm that encourages their clients to "First Ponder, Then Dare". Sign up for the free ezine at http://www.notable-marketing.com
Brand Name Identity in the Oil Business
I submit to you that Brand Name Identity in the Oil Business is just a important today as it was when Mobil Oil and McDonalds were building their brands. Perhaps in the future it may even be more so. I have often seen others using our business name and sought either injunction or stern warning. As a matter of fact I am preparing a lawsuit against the Federal Trade Commission for using one of his Brand Names and Federal Trademark in their Key Words and Meta Tags on the Federal Website, to attract visitors; a lawsuit which would have enough case law behind it to slam down the Federal Trade Commission with the help of the US Patent and Trademark Office.
Why You? -- Professional Identity Branding
You can have first-rate products and services, but if you can't establish the need, communicate the benefits and differentiate yourself from the competition in ways that make people want to do business with you, you'll forever be selling up hill.
Business Case Study Automotive Detailing Franchise Company
How do automotive detailing companies start? What makes them work and how do they grow? How do they choose which services they will offer? This is an interesting case study about a test market of a franchise company in the cleaning business and how they went about setting up Auto Detailing Shops. It maybe of interest to your business study and research; I am familiar with this story because it is one of the companies that I founded.
Go Ask Alice
One of fiction's finest marketing minds, The Cheshire Cat,once told Alice in Wonderland something all business ownersand marketers should remember:
Extreme Makeover ? Small Business Edition
Have you ever watched one of those home makeover shows? You know the scenario. The homeowners have decorated or remodeled their house all by themselves. After awhile, they realize that what they did is unprofessional, it doesn't work, it's not what they want, it's not what they need, it's ugly, or they just flat out despise it. So, they hire an expert designer to help.
Your Brand is Your Promise! (So What Are You Promising?)
When people mention the word "brand" they usually mean a well known, well defined company. That's why consumers frequently mention names such as Target, Rolex, Apple, BMW and others who have done an excellent job in crafting an image and sticking with it. Buyers know what to expect from these companies, and as long as these companies meet that expectation, they will continue to imprint their brand in the minds of our their audience. It's pretty simple really, if you just keep in mind these two principals.
The Big Uneasy: Clearing the Clouds of Guess
People often come to me to assist them with developing their brand because they are unable to accomplish the business success they desire. They're experiencing what we call the Big Uneasy--the state of being when things are hard. They are stuck in an idea, unable to make it happen, and dreams are unfulfilled. Life is heavy, there's a lack of flow... the Big Uneasy has taken over.
Corporate Internet Branding ? Branding Your Business Online
Let me tell you a story about Pete and a pizza. After a long day of fighting uncooperative pipes and fixtures, Pete P. Lumber, of Pete's DuperRooter, was looking forward to a nice, hot, decidedly Atkins-disapproved pizza - the stuff of which dreams are made. The week before, Pete was doing a bathroom remodel at Bob's historical Chicago bungalow. The house had only one bathroom, so Pete had to complete the project as fast as possible. Due to a series of unfortunate events, some of which involved a repeated, forceful application of a rather large hammer, Pete stayed much longer than he initially anticipated. To bungalow owner Bob's delight, Pete completed the remodel the same day.
What is an Artists Statement & How Often Should It Be Updated?
An artist's statement is a statement of ideas and thoughts that describe your philosophy, vision, and passion towards your artistic creations.
Brand Awareness - Brand Identity
About once a month a few of us at the office get together during lunch for what has become known as a SWAP meeting. We share thoughts, stories and sometimes play Pictionary. It's a great way to relieve stress and learn interesting tidbits about the people we work with.
Trademark: Do I Need One for My Business Name and Logo?
Wondering if a trademark is important to you as a business owner? Let's start with the basics. A trademark is a word, phrase, symbol, or logo that distinguishes and identifies the source of goods of one company or person from another. For example, the name Kraft is trademarked, as is Nike's "swoosh" logo.
Play it Again Sam
The marketing director for one of my longtime clients used to complain "does it have to be purple again?" What she and many others don't realize is that the color you are seeing in your sleep, your prospects might just be beginning to recognize, and if done well, associate with you.
Power Your Word for Profit
Discovering and owning a powerful word that reflects you and your business is the true key of successful branding.
Brand Boring or Brand Buzz?
I heard an advertisement on the radio the other day that surprised me, not because they were saying anything noteworthy, but because it was so banal. It was a national company's ad. They pay an ad agency to write and produce their commercials. There are so many words at their disposal, so many descriptions, so many emotional statements to attract customers, why would they use the trite phrase, " knowledgeable, friendly staff to serve you"? Even if they couldn't think of anything exciting, they could have used, "if you've got questions, we've got answers", "we specialize in providing answers"?"specializing in premium products and effective solutions"."Try and stump the staff with your questions, they love a challenge". "We don't have all the answers but we'll help find solutions"
Great Brands Depend On Attention To The Brand Architecture
Do you have the architecture in place to make sure each and every brand contact sends the right message?
Don?t Get Caught In the Trap: The BIG Difference Between Personal and Business Branding
When you're all alone in the privacy of your home office, surrounded by your computer, your phone and your business idea, have you ever asked yourself, "Where's the line between me in my business and the business in me"?
12 Ways to Reduce Postage
1. Never send a letter that weighs less than 30 gms. Five size8-1/2x11 circulars can be mailed with a 1st class postage stamp. By using all 10 sides with a variety of offers you have agreater chance of receiving an order.
Which Of These Words Attract Your Clients
Whether it's your business card, tagline, article title, web site title and description or ad, just the difference of a few words can either pull in prospects and clients or push them away. Getting it right can determine whether your phone is ringing off the hook or you are twiddling your thumbs hoping someone will call.
Strategic Moves In The Branding Gamble!
The so called 'globalisation' has cluttered the world markets with so many products and services that nearly 90% of the marketing managers in competing companies do pretty much the same to sustain in the market. There is not much difference in the way P&G operates as compared to how Unilever gets its products to the market. Coke and Pepsi's operations nearly reflect each other and all that these two compete is on 'who spends more on advertising this year'! If one disagrees with this argument by saying "we provide better quality products/services", then don't forget that this is precisely where your competitors put their efforts as well. Southwest Airlines, the revolutionary domestic American low-cost no-frill airline, most of the time does exactly what its competitors do. Well, the only difference is that Southwest Airlines serves meals in the airport during waits and not on the plane. This in no way means that Southwest Airlines is performing better than its competitors. If you are doing well what you are supposed to be doing, then that is not differentiation but a prerequisite for competing. Also, doing the same things in a better way is a deserving effort but not a strategy, especially in the long run. If all the competitors in the industry tend to converge into an equable level, of prices/costs, quality, technological sophistication, service quality etc, how, then are you supposed to compete? In this scenario, what most management consultants will advise you is either to offer you clients with more than what your competition offers, for a higher price, for the same price, for a lower price or offer them less value for a lower price. But remember that all these options can give you a short-term edge, but will usually not sustain as you competitors will soon follow the bandwagon!
Branding Advertising Agency
Branding used to be a fancy business word, but it is becoming more and more used in everyday business meetings. Finally! For decades, big corporations have used in-house, very well paid brand managers - someone in charge of managing everything that relates to the brand, including design, package and partnerships. You've heard enthusiastic talks about branding, but you are still not sure if you should get a brand management plan going for your business.
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