Integrating the BrandInto Supporting Marketing Programs • Product Strategy • Deliver tangible and intangible benefits • Add value through customer information • Pricing Strategy • Understand perceptions of value • Balance price, cost, & quality Supporting marketing mix should be designed to enhance awareness and establish desired brand image. • Communication Strategy • Mix & match communication options • Channel Strategy • Blend channel “push” with consumer “pull” • Develop & brand direct marketing options
Personalizing Marketing • Relationship Marketing – provide more holistic, personalized brand experiences to create stronger consumer ties • Mass customization • CRM • After-marketing & loyalty programs • Examples • Experiential Marketing • Permission Marketing • One-to-One Marketing
Experiential Marketing • Employ multiple touch points & multiple senses • Often involves special events, contests, promotions, sampling, on-line activities, etc. • Combine brand education & entertainment • Distinctive and relevant
Permission Marketing (Seth Godin) • Permission marketing “encourages consumers to participate in a long-term interactive marketing campaign in which they are rewarded in some way for paying attention to increasingly relevant messages.” • Anticipated • Personal • Relevant • Permission marketing can be contrasted to interruption marketing
5 Steps in Permission Marketing • Must offer overt, obvious, and clearly delivered incentive to prospect to volunteer • Must offer a curriculum over time, teaching the consumer about the product or service • Must reinforce the incentive over time • Must increase the level of permission the marketer receives from the customer • Must leverage permission to generate profits
10 Questions to Evaluate Permission Marketing Program • What’s the bait? • What does an incremental permission cost? • How deep is the permission that so granted? • How much does incremental frequency cost? • What’s the active response rate to communications? • What are the issues regarding compression? • Is the company treating the permission as an asset? • How is the permission being leveraged? • How is the permission level being increased? • What is the expected lifetime of one permission?
One-to-One Marketing:Competitive Rationale • Consumers help to add value by providing information • Firm adds value by generating rewarding experiences with consumers • Creates switching costs for consumers • Reduces transaction costs for consumers • Maximizes utility for consumers
One-to-One Marketing:Consumer Differentiation • Treat different consumers differently • Different needs • Different values to firm • current • future (life-time value) • Devote more marketing effort on most valuable consumers (and customers)
One-to-One Marketing:Five Key Steps • Identify consumers, individually and addressably • Differentiate them, by value and needs • Interact with them more cost-efficiently and effectively • Customize some aspect of the firm’s behavior • Brand the relationship
Buzz Marketing(Emanuel Rosen) • Keep it simple – Simple messages spread across social networks more easily. • Tell us what’s new – The message must be relevant and newsworthy for people to want to tell others about it. • Don’t make claims you can’t support – Making false claims will kill buzz or, worse, lead to negative buzz. • Ask your customers to articulate what’s special about your product or service – If customers can explain why they like the product or service, they can then communicate this to others. • Start measuring buzz – This can help determine which strategies generate the most buzz. • Listen to the buzz – Monitoring consumer reaction can yield insights such as how to improve the product or service.
Personalizing Marketing • All of these approaches are a means to create deeper, richer, and more favorable brand associations • Relationship marketing has become a powerful brand-building force • can slip through consumer radar • may creatively create unique associations • may reinforce brand imagery and feelings • Nevertheless, there is still a need for the control and predictability of traditional marketing activities • Models of brand equity can help to provide direction and focus to the marketing programs