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Tag : brand positioning

The Role Of Branding – Part 3

Carlton Hoyt 10:35 am , June 19, 2014

This is the final post in a three-part series on branding. For the first post, go here. For the second, go here

Brand Positioning Formula

Last week, we discussed solving the above equation which tells us what the most powerful brand positioning opportunities are. Now we must translate the results of that equation into tangible elements that will align with that desired position. This includes some basic elements of messaging (such as the brand name itself, slogans, and core messaging) includes visual elements (logos, typography, and other elements) and also includes voice & tone, which provides guidance as to the overall “feel” of customer interaction and customer-facing communications.

Special focus should be given to the core messaging, as that is where the capability to captivate the audience really lies – especially early on. In order for the brand positioning to be effective, you need the audience to go along with it, and the core messaging is what will deliver the most impact. To be effective, the core messaging needs to do three things. First, you need to make a compelling “why”-type statement. In other words, you need to tell the audience why you’re doing what you’re doing rather than just what it is that you do. Secondly, you need to frame it as a statement that the audience can agree with. You want them to buy into it. Lastly, you need to make it emotionally powerful, such that they become engaged with your brand’s story. The logos and imagery will be important carriers of your brand, in other words they will trigger the association in the minds of the customers, but they actually play a relatively small role in the positioning of the brand. That’s far more about what you have to say and how you say it. The most common error made in initial brand development is focusing too heavily on imagery and visual elements to the detriment of the other aspects.

Once the core brand elements have been determined, it is useful to collect some feedback on them. This can be done via a primary market research study, or even with real-world data collected via a phased rollout. Certain brand elements may be able to be A/B tested to determine which are optionally effective, although you need to be careful not to put too much weight on short-term behavior as the brand is concerned most with long-term impact and the two are not always in alignment.

At this point, you understand your desired position and have formed your core brand elements. It takes a lot of thoughtful effort to get to this point, but this is only the foundation. Brand positioning is the platform upon which the brand is developed and truly built. Ultimately, the brand is created by experiences, and crafting positive experiences for the customers which align with the brand position are the key to making the brand position a reality. What those experiences will vary from brand to brand, but one thing always remains true: helping your customers solve problems is the most likely way to evoke positive emotions. Focus on identifying and solving your customers’ problems, especially in a way which doesn’t require a purchase, and you’ll be on track to develop positive brand value. Do this better than your competitors and you’ll create a competitive brand advantage for your company. (More information on providing superior customer experiences can be found in our latest paper: “Superior Experiences.”)

Whether you are actively shaping it or not, your brand is being developed every day, with every stakeholder interaction. It’s up to you to develop your brand into something that provides positive value for your company. Competitive advantage isn’t all about products and operations – brand plays a very significant role in determining winners and losers. Shape your brand into something valuable, develop it through positive customer experiences, and you’ll position your company to be the winner.

"Is your company taking an active role in shaping its own brand? Are you providing your customers with superior experiences which create lasting brand value – and competitive advantage? If your answer is “no”, then we should talk. Contact BioBM and we’ll help you develop your brand into a source of competitive advantage which drives the commercial success of your company. We’re happy to speak with you."
Blog / Branding 10:35 am , June 19, 2014

The Role Of Branding – Part 2

Carlton Hoyt 12:13 pm , June 12, 2014

This is the second in a three-part series on branding. For the first part, go here. The third part can be found here.

As mentioned last week, the ideal brand position can be thought of in formulaic terms; it is all the “valid” brand positions, less the positions that are occupied strongly by competitors, less those that are unimportant to your target market(s).

Brand Positioning Formula

So how does one go about solving that equation?

Start with determining all of your company’s valid brand positions. To do this, you need to answer the question: “What are all the positions which we could validly claim?” The answer is dependent on a multitude of internal factors – everything from company vision and mission, company culture, down to the details of how you do business. This process therefore requires a holistic internal investigation, usually gathered via internal documents and from team members. It should be structured like a market research project with a qualitative and quantitative component and both primary and secondary research. Qualitative secondary research is a good place to start, where you can assess things like mission and vision as well as company processes that might give insight to potential differentiators. Qualitative primary research is generally next, with interviews of influential employees to get their opinions of what the company or brand means to them. A quantitative survey of a larger set of internal participants (presuming the organization is large enough to merit it) is helpful to validate and clarify the results of the qualitative research.

Next, look to see how your competitors are positioned. Start with analyzing how they are attempting to position themselves. At most basic, this could be done with an attribute analysis using their publicly available brand messaging. (More details on how to perform an attribute analysis can be found here.) If you want to dig even deeper, put yourself in the customers’ shoes and try to interact with your competitors to determine how they present themselves. This is difficult to do impartially by yourself, so it’s best to have neutral participants interact with the competitors on your behalf and report their experiences to you. Ask yourself: how does it feel to interact with the competing companies? What kind of experiences are they providing and directing customers towards?

After determining the competitors’ projected position, you also need to determine their actual position. This asks the question: “How are our competitors perceived by the target market?” If your market is large enough there may be data on the competitors in published market studies, but generally this requires your own primary market research. Qualitative interviews and quantitative surveys will provide the data to analyze your competitors’ actual positions.

Lastly, you need to determine which of the valid brand positions are actually relevant and important to the target market. Similarly to determining the actual competing brand position, this requires speaking with the target markets. To save on cost and time, these two questions can be answered simultaneously. As with any market research project, what questions you ask and how you ask them is extremely important such that you obtain unbiased answers.

With all the values on the right of the equation known, you can now complete the equation and determine your ideal brand position.

The next step is to translate the results of this equation into tangible elements which will align with the desired position. We’ll discuss this in our next post.

"Brand value may be intangible, but its effects on your business are not. A branding advantage may be the difference between customers choosing your product and them choosing your competitor’s – it’s not uncommon for a perceived demand generation problem to be rooted in the brand. To secure brand value, you need to ensure that your brand position is meaningful and that your brand experiences are positive and reinforce each other. That’s a big task, but it’s not one you have to do alone. Call BioBM. We’ve helped dozens of life science companies build their brands and generate more demand. We can help you, too."
Blog / Branding 12:13 pm , June 12, 2014

The Role Of Branding – Part 1

Carlton Hoyt 12:49 pm , June 5, 2014

This is the first in a three-part series on branding. The second part can be found here. The third part can be found here.

Branding is an abstract concept, and a lot of marketers have different ideas of what the act of branding really means from both a strategic and tactical perspective. At BioBM, we have a very clear vision of the role of corporate branding efforts, and we want to share that vision with you so you can move towards improving your own brands.

One quick note: For the purposes of this discussion we’ll refer to corporate brands only, with the understanding that divisions or product lines can have their own brands as well, and that everything we mention here applies to any such brand.

First, we need to understand what brands and brand value really are. A brand is basically the abstract notion that is your company. It is all of the things which the perceptions of your company are effectively attributed to. Brand value (which is distinct from brand equity – how much your brand is worth in money) is the collective opinions of your brand. It is the resulting sum of all the experiences which customers and / or other stakeholders have had with your brand. Given these definitions, we can see that on an individual level, the brand and brand value can differ from person to person. There can be no singular thing that is the brand in its entirety. It is therefore also useful, in various situations, to consider the brand or brand value from the standpoints of different groups of stakeholders. For instance, your target market may have a different perception of your brand than do your employees or the public. For the purposes of this conversation, we’ll assume that you, like most marketers, are primarily concerned with the perceptions of the target market.

Considering that the brand value is held externally, and that it is a matter of perceptions, marketers cannot create brands in the way that they create other marketing assets (a brochure, for example) or the way that your company might create a product. What we CAN do is try to influence those perceptions, and corporate branding efforts should be seen as an effort to do just that.

When marketers think about “creating” a brand, what they really need to do is think about brand positioning – aligning the brand for the maximum probability of success. Successful brand positioning requires two things. The first is differentiation. If your brand is not differentiated from competitors, then it will have a difficult time demonstrating comparative value and, therefore, outcompeting the competition. The second is alignment. Your brand needs to be aligned with your vision and values, and it also needs to be aligned with the customers’ values and goals. If your brand is not aligned with your own values, then you will have a difficult time staying true to the brand positioning and providing experiences that reinforce it. If it is not aligned with the customers’ values, then your claimed position will not contribute any perceived value to your brand.

Venn Diagram of Brand Positioning OpportunityTo understand what your brand’s ideal position is, you need to understand three things. First you need to understand what brand position you would like to claim and could validly claim independent of any external considerations. This requires an understanding of your vision, your goals, your core competencies, and other company-centric factors. We then need to understand competitors’ brands: both their desired brand positions and ACTUAL brands. In other words, we want to understand both how they want their brand to be perceived and how it actually is perceived by the markets in question. Lastly, we want to understand the customers within your target markets. What are their goals and values? What do they value in a company?

Where your potential brand positions overlap with the customer values with minimum competition from other brands, you can identify your most opportune brand position!

Your brand, therefore, isn’t something that should simply be conjured up by locking a few creative types in a room for a few days. Your ideal brand positioning can be expressed as a [non-quantitative] mathematical equation! It’s a rational endeavor in addition to a creative one, but the rational elements of positioning are arguably more important, as they’ll inform you how you need to be positioned in the first place.

Next week, we’ll discuss how to determine the three necessary “variables” in order to to solve this equation.

Brand Positioning Formula

"Brand value may be intangible, but its effects on your business are not. A branding advantage may be the difference between customers choosing your product and them choosing your competitor’s. To secure that value, you need to ensure that your brand position is meaningful and that your brand experiences are positive and reinforce each other. That’s a big task, but it’s not one you have to do alone. Call BioBM. We’ve helped dozens of life science companies build their brands and generate more demand since 2010. We can help you, too."
Blog / Branding 12:49 pm , June 5, 2014