Brand Strategy Versus Brand Intelligence
Seminar given by Andrea Hansen-JCK 2013
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| Andrea Hansen of Luxintelligence |
Often we hear to succeed we need to work hard but working hard is not enough. As Oprah Winfrey once said “ Don’t worry about being successful but work toward being significant and the success will naturally follow”.
Talent, hard work is not enough. You need to do research and analysis, understand the business model of the people you work with.
You need to be a storyteller, be passionate, you need a strategy, discipline, preparation is key. Brand building is discipline.
What do those who succeed have in common? Focus.
Your brand needs to have an intelligent, thoughtful and defined point of view (POV). A good example of that is Carole Brodie who was the first to offer her line of dazzling colorful and detailed jewelry and products on HSN and who now has annual revenues in the 30 Million dollars.
Only the strongest survive. So look at the market and ask yourself: Does your brand deserve a corner of the sandbox? Ask yourself these questions:
1- Are you a brand or a manufacturer?
2- Are your original?
3- Who is your hero brand and how did they do it?
4- Who are your competitors; creatively, in the market?
5- Why would anyone buy your product?
6- Why would a retailer carry your line?
SWOT: Are you ready to sell?
Sales calls, trade shows, market visit, they are all job interviews for your brand. Make an in-depth analysis of your internal and external factors that determine potential and ultimately, your success in the marketplace. Internal perspective include a list of your strengths on the positive side and weaknesses on the negative side. External would be opportunities and threats.
Now to get started you need to do the following:
1-Understand your industry
2- Join a trade organization to stay current on the industry.
Be informed. For example the luxury market of 2013 shows a willingness to buy again but with these criteria: customers are looking for excellent value, subtle understated luxury, top quality within the category of goods, uniqueness, design & functional excellence, and personal meaning (like monogram jewels which are hot these days).
3-Enter design competitions
4-Join mentoring programs
5-Volunteer
6-Network but define what value you can offer to others
7-Understand your market: what can you offer that is new? What does the market needs? Find the void.
8-Dream big: are you the next big thing?
9-Stay open, ask questions
10- Adapt, change, grow
11-Be your “Sunday Best”, all the time!
Your success Ladder should look like this:
1- Brand Point of view. Make sure to have one.
2- Quality & pricing.
3- Competition. Understand it.
4- Communications. This is your voice
5- Distribution platforms and strategy. Think beyond the usual.
Ask yourself: Are you needed?
1- Develop your point of view. Your POV should be 30s long. Call it the elevator pitch.
2- What is your voice?
3- What makes your truly unique?
4- Is there a need for you?
5- What is the demand for your product?
6- Who is the consumer who will buy your line?
7- Who is the retailer that sells to that consumer? And why does he need you?
Consider market demand versus innovation. “ If I had asked the public what they wanted, they would have said “faster horses”-Henry Ford on creating the T-Model car.
Don’t confuse supply and demand: because you can make it does not mean it is needed.
Brand equity leads to brand desire leads to desirable business. Brand equity is: brand attributes, brand awareness, public perception and brand loyalty.
Create a desirable brand by building value around your core and set the tone for future negotiations. You need to have these:
1-Selling techniques
2-Stellar training
3- Sales support
4- Press relevance
5-Social media strength: facebook, twitter, youtube etc.
6-Collaterals-These need to be top quality
7-Unique event model
8-Brand ambassador
9-Cause of social responsibility
10-Ethical sourcing
Brand Value Chain:
1-Marketing programs (advertising, email, packaging, incentives)
2-Brand image ( awareness, attributes, differentials, strengths)
3-Brand equity (attitudes, associations, personality, preference,
4- Revenue (translate equity into profit, distribution, advantage, pricing power, expense reduction.
Marketing programs represent effectiveness to create brand image which represents relevance to brand equity and correlation exists between brand equity and revenue.
Brand Touchpoint wheel: Imagine a wheel split into three categories.
Pre-purchase: includes advertising, website, collateral, quality
Purchase: value, POP displays, assortment, in store experience
Post-purchase: loyalty programs, customer service
Create a Branding Check List
1-Do a comprehensive trademark search
2- Develop a powerful brand identifier – use it consistently
3- Create a strong Brand Identity and a Brand Statement
4- Make sure your team understands your Vision and Mission
5- Foster brand loyalty at every opportunity
6-Know your client
7- Hold off spending except…on a good website and SEO
8-Your business card is no longer a piece of paper – It’s your digital presence
Authentic Versus Original – Authentic brands are passionate about their core, transparent,
energized. Brand authenticity is itself an outcome—the result of continuous, clear, and consistent efforts to deliver truth in every touch point. It is worthy of belief and trust. Examples of authentic brands include Nike, Starbucks, Apple, Virgin, Target, Tiffany, Chanel, BMW… And once you have brand awareness, a name recognition and a loyal following you can have fun with your partnerships in advertisements.
Branding Intelligence Mantras
1-Protect the halo of your brand: Define strength, define positioning create a visual code that best expresses brand voice, be focused, single minded, determined and patient.
2-Every decision is a branding moment
3-Think of your sustainability and long term vision: What is your signature element? How will your collection evolve? How will you manage changes in fashion, trend and behavior? How will you manage growth and support your business partners?
4-You must tell your story ALL the time! If you tell it enough, someone will listen
5-Seek best in class even outside your industry. For example, Chipotle is a brand worth studying.
6-Keep checking: Who is your customer? Does your customer need, understand or buy your product? Is your pricing strategy right for your customer? Is your message adequate for your customer? Are you using communication strategies that reach your customer? Are you
selling where your customer shops?
7- Remember marketing is about telling your story and social media marketing is about getting your customers to tell it for you. Think Twitter, Facebook, Pinterest….
Brand Voice Versus Designer Voice
1-Good content travels far
2-Get media trained
3-Know how to sell
4-Develop a personal style
5-Ask for what you need
6-Have a thick skin
7-Be able to reinvent yourself
And finally there is your small circle which is your comfort zone, STEP OUT OF IT!, this is where the magic happens.
Guest Post
by Natalie Leseine, Atelier Leseine
I am excited to be able to offer these Seminar write ups – I am rarely able to cover the massive seminar schedule and still do the shows justice. So this years a couple of friends offered to attend a seminar and report on it.
Natalie Leseine is the owner and award winning design talent behind Atelier Leseine. Born in Paris, now residing near San Francisco, Nathalie Leseine’s first love affair with jewels started in Paris when she would walk along the Place Vendôme in Paris, her creativity took flight spying enticing jewels in Cartier’s windows — and at Boucheron, Van Cleef & Arpels and Chaumet. Her first step in design her Pearle Captive Collection was an award winning hit!
“A fusion of cultures, of forward designs with classic sensibilities is the vision behind the jewelry by Atelier Leseine”. Nathalie Leseine
