The 10 second rule
Managing a brand’s equity is a key requirement for any marketing team. Strong brand equity is built on the consumer’s perception of the brand, rather than the product or service being sold.
It takes, on average, just 10 seconds for consumers to form an impression of your brand and determine whether they trust it (source; crowdspring). Two factors that considerably influence a brand’s equity are:
- Brand Consistency: Consumers often evaluate identical products depending on how they are branded. Consistent branding develops trust and loyalty for your customers, across every touchpoint and point of purchase. Well managed, easily accessible on-line Brand Guidelines will build and reinforce a consistent perception of your company. A “brand portal” will facilitate a standardised tone of voice and colour pallet whilst ensuring images, logos and typography are consistent, recognisable, accessible (for both marketers and their agencies) and repeatable when used in all communications, whether they be customer facing or internal. According to a study by Forbes, “consistent brand presentation across all platforms increases revenue by up to 23 percent”.
- Brand Awareness: Familiarity of a brand is a fundamental outcome in successfully executing a marketing strategy. 89% of marketers claim building brand awareness is their top goal (source: Lucidpress). Recognition of a brand will lead to quicker purchases and greater brand advocacy. For multi-region campaigns, delivering effective brand awareness across multiple channels, will significantly uplift your brand equity. Powerful distributed marketing and template technology allows brands to talk directly to their consumers, with a highly localised brand experience, without compromising on brand consistency. The automotive industry has forged ahead with a mature distributed marketing footprint to enhance the local brand experience, via their dealer networks, and generate greater brand awareness for their target audience. A 14-market Mercedes Benz case study can be seen here. The case study illustrates how a brand built on quality, prestige, innovation and engineering excellence maintains its brand equity through a unified message at the point of sale.
Leveraging a Brand Management Platform
In order to maximise your brand equity, in today’s digital-centric world, it is more important than ever to adapt and leverage the technology at your disposal to build and manage your brand effectively. Working towards an enhanced customer experience and delivering greater brand engagement are more likely with the necessary investment in a suitable Brand Management platform.
Brand Management platforms are now considered a strategic imperative for all companies that have invested in creating a brand. The functional capability you should expect includes:
- A web-enabled Brand Portal: where you can digitise your brand guidelines and social playbook, ensuring the content is always up to date, available and easily customisable for the marketing teams, creative agencies and wider marketing supply chain.
- A centralised DAM: digital asset management is the cornerstone of any marketing technology strategy. Ensuring access to the latest marketing assets will facilitate brand consistency through asset re-use and re-purposing across channels.
- Localised Marketing Templates: enabling both brand awareness and consistent communications, using rules-based templates for a localised brand experience, to enhance customer engagement and build trust.
If you’d like more information on how BrandMaster has supported clients as diverse as Mercedes Benz, Careem, Helly Hansen and BMW in helping strengthen their brand equity, please contact us below.
By Anil Noorani, Managing Partner, TKM Consultants
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