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Effective Brand Accleration 2012. A brand is a combination of attributes, communicated through a name or a symbol, that influences a thought process in the mind of an audience and creates value.
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Effective Brand Accleration 2012 • A brand is a combination of attributes, communicated through a name or a symbol, that influences a thought process in the mind of an audience and creates value. • Good branding is combining the attributes behind the name or symbol, to influence market preference and create value. Nigel Jumbe 2010
Why is Branding important? • The most successful businesses in the world are invariably more than just their names and their assets, they are • their logo • their vision • their history • their services and products • their people • their approach to business • their advertising And literary a thousand other things. The most successful businesses become that way by design not by accident. The most successful businesses spiritually understand the value they have to their customers, they have monetary value far in excess of their physical assets and trading prospects. The most successful businesses last longer because they tend to be the most successful brands. Nigel Jumbe 2010
The Value of Good Branding • What is the value of branding? • The value of a brand often lies in the security of higher future earnings. • Good branding builds value - value for you, your staff and your customers. • Good branding pre-sells you - you know about Nike before you even see a Nike shoe - in fact by the time you leave the house to buy a shoe, you already know which shoe you are going to buy. • Differentiates you from your competitors - you can get the same products, same service and same advice at Barclays and Kingdom Bank, but you cannot get the Barclays experience at Kingdom. • Builds loyalty and cements relationships with your customers - your customers are probably not just doing business, they are doing business with you for a reason. • Lowers your marketing and business costs. • It leaves a legacy - cursed are those who have to have their children to carry on their legacy, others create brands that provide a legacy for generations to come. Nigel Jumbe 2010
The Zimbabwean Scenario • The calibre of Zimbabwe’s business people is dropping (brain drain). • The calibre of marketing people is not up to the present economic challenges. • Marketing is not at the fore front of business strategy in this economic chaos. • We are now branding before we build the brand. We make noise, without making the right noises. • The major opportunity for Zimbabwean Businesses is not solely in their businesses but its in the brand. • Consider the following observations:- • Zimbabweans have now been exposed to foreign brands and world class services • Sooner or later, foreign companies will begin to come in and offer better products at lower prices • Contrary to popular belief, we have become a nation of deal seekers (dealers) • The preferred local brands would be the best if they were available and brand building activities were at pre-current 2010 levels. • In the present uncertainties and depressed business environment, now is the opportune time to rethink and assess and start afresh to brand properly. Nigel Jumbe 2010
Brand and its Staff • Get the right people • What holds the team together - it is shared ambitions, shared values, shared experiences that makes the team stronger. • Do you have the right team - do you have the right people in the right places to deliver on the brands vision. • Does each team member know his role? Are they playing it? - the responsibility for the success of the brand goes right down to the individual and how they work with each other to get results. Nigel Jumbe 2010
Staff Survey • In an informal survey done on behalf of our clients, we discovered that less than 5% of the staff knew what the mission, vision and values of their company were, even less had a standard appreciation of what constituted good customer service with their company • And this seems to be par for the course in Zimbabwe. The touch points of the brand, the custodians of the brand had no clue whatsoever to what service to deliver, how to deliver it and why it was important to deliver it that way Nigel Jumbe 2010
The Brand and its Products • Which products are your main source of revenue? • Which products are not performing and why not? • Sometimes products don’t work because they need to be modified but sometimes they don’t work because they can’t, or there is no demand or because we don’t have the necessary skills. Its because our branding on the products is poor. • Are your competitors offering any products that you are not offering and why? • Do your competitors offer service and innovation on products that you can improve? • How often are you benchmarking yourself against competition and what measures are you using? • Are you looking at international trends - Nigel Jumbe 2010
SummerHay Media Product Flash • Many brands have one core product or service that provide at least 60% of their total income. Yet instead of concentrating on refining that product, their allocate resources to create other services or products that cost a lot but do not add to the bottom of the line. Microsoft for instance developed and released an mp3 player to go against the mighty ipod. It has not recouped its research and development costs hence ipod is still leading in the market. • Product and service innovation are an essential part of business, but brands should never lose focus on what they do well. Customers are always the best indicators of what they should be doing as a business. By keeping in constant communication with them, you will be able to anticipate their needs, get their feedback, and herd off any potential problems. Look at McDonalds for example, their basic menu has not changed for over 50years they know what their core product is and their customers agree. Nigel Jumbe 2010
The Brand and its Customers • Do you have the right image? Do you customers feel proud to be dealing with you? Do people aspire to bank/trust with you? • How much do you know about your customers? What specific methods are you using to talk to them and gain their feedback? • How much input do you customers have into your products and services? Are you finding out what they want before you give them the products? • What drives your customers to your competitors? • Do you have a concrete service policy that guides your business? • How sensitive are your customers to pricing? Can you charge more for your product without losing customers? • Do you know who your most valuable customers are? Are you rewarding them accordingly and how? • Do you give to the community? • Are you using all the channels available to deliver your products and services (internet) branded outlets etc., how easy is it for all your customers to use your products? • How well is your business known? Do you have enough public awareness to drive your growth strategy? Are you utilizing the full spectrum of the communication tools available? • Are they any other areas of business you can go into? Nigel Jumbe 2010
SummerHay Media Customer Flash • The average individual is exposed to 3000 commercial messages everyday through various media. In the developing world, the figure falls to 1000. That is still a lot of choice, a lot of brands, for the average consumer to process and take advantage of. • 80% of the world’s population, sees a piece of Coca-Cola Branding at least once everyday. Everyday of their lives. Nigel Jumbe 2010
The Future The future of branding in Zimbabwe and the success of our businesses depends on how you answer these 3 important questions. • How do you define customer value? • How do you develop customer value? • How do you deliver customer value? Nigel Jumbe 2010
Brand Building and Management • Brand building is more than advertising • Its customer service • Its customer experience • Its product development • Its distribution • Its product quality, look and feel Nigel Jumbe 2010
Zimbabwe Today • Evidence today shows that it is not a good idea to stop investing in brands. The wait and see attitude in some organizations led to: • Closures • Takeovers • Poor customer services in most service brands - banks, hospitals, telecommunications, retail etc. • Poor product quality due to sub-standard inputs, bread, takeaways, cooking oil, big ben, perfection, key bar, omo laundry, geisha etc. Nigel Jumbe 2010
What are the facts then… • Clearly there are short-term benefits, a bit of profits for the business, but long suffering for the brands. • Brands will be less competitive when the economy recovers • Consumers are no longer loyal to your products as they are now used to switching and what comes their way. Nigel Jumbe 2010
But there is also Good News in Zimbabwe! • Many quality brands are now available hence there are more opportunities for many more to come including your brand. • Olivine, Mazoe, Tanganda, Colcom Ham, Bohlingers, SeedCo Seeds, Dairibord Cheese, Mineral Water. • Some may be resuscitated • Flame lily holidays, Surf, Sandak, Black Label…YOU Nigel Jumbe 2010
Questions? Connect with me: Email: nigel@summerhay.co.zw nmjumbe@gmail.com Skype: nigel.jumbe39 LinkedIn: http://www.linkedin.com/in/nigeljumbeceo Twitter: http://www.twitter.com/summerhaymedia Facebook: http://www.facebook.com/summerhaymed Blogs: http://bloggers.com/summerhaymedia.blogspot.com
