Building Brands with IMC, Part 2

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Back from break with marketing consultant Drew Stevens (@DrDrewSalesTips).

He’s started by channeling Desi Arnez and it turns out that is just the first of several great impersonations that he can pull off!

Drew set the tone quickly for an interactive session by beginning a conversation about the difference between companies that market well and those that do not. He then transfers to his first key point: If brand is what customers believe aboutour product/company/service, then perception and value are the two key factors. Drew uses attendee input to define value as “what consumers think (a product) is worth” based on each consumer’s beliefs, experience, and perception.

Next, two interesting stats:

  • 78 percent of marketers do not create measurable goals
  • 92 percent of sales managers have no idea of their department’s ROI

Drew seems skeptical on social media, stating that it has created another audience level, but also another filter within the marketing world. Not worth doing unless the ROI is measurable.

He asks the audience, “What’s first thing on in the morning, aside from Coffee Pot, when you get out of bed?” Some responses were the TV, Radio, Computer. My take, although I didn’t say it out loud: The smartphone is the first thing and it’s on before I’m even out of bed. Drew’s point is that, whatever you turn on first, it will begin to deliver the first of 9,000 messages that we’ll receive during the day. This means that penetration, not exposure, is the key.

Drew is now channeling Eeyore as he describes emotions of marketers who place newspaper ads without understanding the ROI. The idea is that you probably don’t want to feel this way:

Four key points that caught my attention during the next portion of Drew’s presentation:

  • Integrated approach to marketing is the opportunity to provide more consistent and relentless effort
  • Measurability is about output – what you will receive from the customer doing something
  • Strategy = What, Tactics = How and many organizations are too narrow-minded on the strategic side, driven by short-term profit focus
  • Measurement is measurement, whether in a hierarchical enterprise organization or a small shop where everyone is involved in the campaign – only difference is that the numbers will be bigger for the larger organization

Talking about V8, which had the challenge of making a healthy product fun, and it reminds me of this campaign for baby carrots:

Tips for getting started:

  • Baseline
  • Objective
  • Cost
    • Value
    • Results
    • Brand/allure/cache
    • Answer these three questions first:
      • What are objective for shareholder return?
      • What is the desired percentage increase for customer value?*
      • What is the desired increase above the competition?

*I wasn’t sure how to quantify this, so I asked during the Q&A. See below for more.

Best practices:

  • Determine what needs to be altered/challenged
  • Then, write a non-fiction book to develop and implement plan with timeframes
  • Review data and create activities – make sure senior leaders are involved
  • Don’t be afraid of making errors along the way

Q&A

There was too much discussion – literally 90 minutes or more – to capture here, but I typed up a few notes:

Q1) How is brand building related to long-term relationship building?

A1) Four key elements:

  • People – Hire the right ones – innovative
  • Processes/procedures – cut paperwork and difficulty
  • Propriety – representation in person, on the phone
  • Value proposition – Output – what is the benefit to the client

Q2) I asked Drew to clarify his point that I asterisked above.

A2) Value is about inventory, so the company should see an increase in unit sales, store traffic, increase or decrease in overall brand value. If it’s a large brand, than the Interbrand ranking should rise.

@PattiGirardi added that the value measurement boils down to: How much more is consumer willing to pay for your product over the competitor?

@Bill Oechsler, an instructor for IMC615, points out that Phillip-Morris used lack of advertising to increase share. Because no brands could advertise anymore, PM’s brand equity allowed it to rise above the competition

5 Responses to “Building Brands with IMC, Part 2”

  1. angela b Says:

    Hi Barry, I missed Dr. Drew today @ Integrate but am going to try to catch him tomorrow. I loved his sales course. Sounds like a fun presentation. Your Baby Carrots video caught my eye. I’ve seen those in the grocery aisle and on billboards and I’m still amazed that they somehow managed to make carrots look cool like junk food 🙂

    If you have a sec, I’d love another response for my capstone survey. I’m almost at the finish line, just need a few more responses from some great IMCers! http://www.surveymonkey.com/s/VPFKWHW

    Good luck with the rest of the program!

  2. ericproctor Says:

    I did not have the Building Brands with IMC worksph; rather I participated in the Leveraging the Power of Social Media session. In this session, there was also a huge focus on measurability and the role of the consumer. In terms of measurability, we talked about how there is a shift in how marketers are determining the success of social media campaigns. Gone are the days when we can simply say a YouTube video/commercial is successful because it has a million hits. It must actually drive consumer behavior and produce tangible, measurable results.

    In addition to being important on the back-end with the measurability, the consumer is also important on the front end — when social media campaigns are being planned. So often, marketers think first about the technology they want to use (Facebook, Twitter, LinkedIn, WordPress, etc.). In actuality, they should be thinking about the consumer and their wants, needs, behaviors, personalities, and backgrounds.

  3. ericproctor Says:

    Barry,
    Thank you for sharing some of the statistics you learned in the Building Brands workshop. There were also many interesting statistics the presenters shared in the Leveraging Social Media workshop. I found this to be a very useful component of the sessions because I can take these back to our organization as evidence for the necessity of a strong Social Media presence. For example, here are a couple statistics I learned about Facebook:

    – 93% of US adult Interet users are on Facebook.
    – 92% of people who are fans of a brand’s Facebook page say they are more likely to purchase from the brand because they have chosen to be a fan

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