Archive for the ‘Marketing’ Category

To Brand or Not to Brand

By Amanda Bala

The American Marketing Association defines a brand as a “name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers. Wikipedia defines a brand as the identity of a specific product, service, or business. A brand can take many forms, including a name, sign, symbol, color combination or slogan. What does this mean for your business? How does branding affect you?

When we hear the name Coca Cola, what image comes to mind? For most, it is the vivid red label of the bottle. Though the label has changed slightly through the years, the color has remained constant. So much that there is actually a font color called “Coke Red”. This is their brand. It is a feeling, an emotion, an image that elicits a response. Whether it is positive or negative, it has a strong mental picture and feeling that goes with the company.

Your brand is who you are and what you do personified. It is the look and feel of your business. Many people think a company’s logo is their brand. This is quite untrue. The logo is a part of your brand. However, it is just one piece of the equation. You take your logo and build your brand around it.

Your brand needs to be distinctive. It must set you apart from your competition. Just like the logo is the cornerstone for a brand, your brand is the cornerstone to all of your marketing communications. It strengthens your position and sets the stage for your entire marketing framework.

There are many important things that your brand should convey. It must clearly deliver your message to potential customers. It must connect with them emotionally and confirm your credibility in your area of expertise. It needs to motivate your potential clients to buy what it is you are selling. Lastly, it must promote loyalty from those clients to return to you in the future.

Finally, a brand is consistent. Colors and themes are carried throughout. As mentioned above with Coca Cola, through time they have varied the label slightly. However, the overall appearance and color have remained the same. A brand can be upgraded and enhanced after it has served its time and it can be varied as long as the logo, colors, fonts, etc. remain consistent.

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The Marketing Equation (Part 2)

By Amanda Bala

So now that you know what the marketing equation is, this is to help you understand what each part of the equation includes:

#1 – Reach the Right Audience: You need to know what demographic you are trying to reach. Who buys your product or needs your service? What sex, age group, income level, education level, occupation and location are you trying to reach? What are their buying habits? If you are a company that targets everyone (like Coca-Cola) then you really need to do your homework and think about creating different campaigns to target these different audiences because there is rarely a one-size fits all campaign.

#2 – At the Right Time: This is the most self-explanatory of the bunch. So we’ll leave this one up to you. As you may have heard, timing is everything!

#3 – With the Right Message: You need to excite your audience with your message. Make them want your services and product. Appeal to their emotions. With that said, we are not just talking about text… this includes your brand (look & feel). If you are talking about how great your business is, but your brand doesn’t represent that, then people may not believe you. Or you may have to work harder to get the sale. Your communications to your target audience are critical. From emails to Facebook posts to advertisements, it all makes a difference. Keep it simple, memorable, beneficial to your audience and unique from your competition. In this day and age, it takes effort.

#4 – Using the right media: Television, Internet, Billboards, Bathroom stalls… there are hundreds of ways to communicate your message. These are all great tools to use for marketing. However, you need to know which fits your campaign best. For example, if you are running a television commercial that is seen all over the state, but you are a local car dealership, salon, or local business, then you are wasting your resources. Chances are that someone from Rochester Hills is not going to drive to Milford for a car when they have their own local dealership in Rochester Hills. Or if you are a business-to-business company, then you may not want to advertise in the newspaper or on TV.

The bottom line is that each component of the marketing equation is necessary, but not solely sufficient in creating a successful marketing platform. The key to bringing it all together and building your business is to make sure the four areas are working in harmony. If you miss even one part, you will most likely feel disappointed and blame your marketing efforts for not delivering.

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The Marketing Equation (Part 1)

By Amanda Bala

Every business wants to be successful. Whether it is by bringing in new clients, selling a product or simply by getting their name out, in the end, it is all about how well you can sell yourself. How does this work? Marketing! It sounds easy enough, right? Well, not all the time.

Every day businesses implement marketing strategies. Some of these are extremely successful and other fail miserably. Why? The answer is the marketing equation. This equation is made up of four simple components: 1) Reach the right audience 2) At the right time 3) With the right message 4) Using the right media.

Sounds easy right? Yet, business owners of all kinds struggle to get this right and spend a lot of money in the meantime. The real key to this is that you have to use the whole equation. There are no shortcuts or cutting corners. If any component is missing… you will be wasting money. So let’s try it out:

You have the right audience + the right time + the right message… but you’re using the wrong media = wasted money, time and effort.

Let’s try again: You have the right message + the right media + the right time… but you’re targeting the wrong audience = wasted money, time and effort.

And we could keep going… but I promise you that the results will be the same. If all 4 items are not in place, you most likely will not be happy with your results. Furthermore… if 2, 3 or all 4 of these items are out of whack, then you may never market your business again convinced that it just doesn’t work.

Believe me… Marketing does work. You just need to master the marketing equation!

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