Building Internet Brands Brand Equity and Brand Image Creating a Strong Brand on the Internet
What is a Brand? • Name, term, sign, symbol or design intended to identify the goods and services of one seller or group of sellers • Used to differentiate from the competition.
Online Yahoo Ebay Monster.com Offline Disney Gap UPS Xerox Types of Brands
Business to Business Cisco Boeing Business to Consumer American Airlines CDNOW Other Distinctions of Brands
Brand Equity and Brand Image • The strength of a brand measured by brand equity. • Financial Asset • Competitive Advantage • Marketing Aspect • Brand Awareness • Brand Recognition • Recall • Brand Image
Lunarpages Case Study:An Overview • What is Lunarpages? • In 2003, Lunarpages wanted to redesign their website to increase customer conversion rates and create a strong brand • So, they contacted the Ceonex company
Lunarpages Case Study:The Challenge • Ceonex noticed several significant problems with Lunarpages’ old site that needed to be solved • Lack of strong and memorable brand • Unprofessional image • Lack of depth
Lunarpages Case Study:Solution • Ceonex’s primary mission was to create a definitive brand identity to bring distinction and value to what Lunarpages could offer • Powerful core theme • Appropriate colors, images, and logo • Comprehensive company branding
Lunarpages Case Study:Results • The creation of a definitive brand and professional image has resulted in significant business benefits for Lunarpages • Customer base more than tripled in 15 months • Customer conversion rate doubled • Consistent 15% monthly revenue increase • Overall 25% decrease in customer turnover
Creating a Strong Brand on the Internet • Awareness • Acquaintance with brand • Ability to recognize and recall • Familiarity • Knowledge of product, features, and services offered • Positive Imagery • Done by marketing programs • Favorable brand association • Completed Transaction • Beginning of relationship • Brand Building
Building Strong Imagery on the Web • Gillette Venus • BMW Films
Internet Tools • Personalization Tools • Customer Database • Customer Control • Collaborative Tools • Purchase-process streamlining tools • Stored personal information • Avoid filling out forms • Self-service tools • My Account page • Personalized services • Do-it-yourself product design tools • Dynamic-pricing tools
Amazon.com – Personalization Tools • Customer database –Amazon has info about customers • Knows your name when you sign on • Can reach you by e-mail & “snail mail • Customer control – customers can influence content on Amazon.com • “Improve your Recommendations” capability • Customization of your own page
Amazon.com – Collaborative Tools • Customer-supplies book reviews & ratings • High publicity collaborations • Amazon & Doonsbury comic artist teamed up in 1998 • Visitors to the site got to complete the unfinished comic
Amazon.com – Purchase process streamlining tools • 1-click payment system • Stores payment information • Customers can avoid filling out forms each time they make a purchase on Amazon.com • Wish list • Stores the products you want to buy for another visit
Amazon.com – Self Service Tools • My account page • Offers customer-specific services • Order tracking • When was your order shipped? • Arrival estimate • Ability to change personal information
Dell.com – Do-it-yourself Product Design Tools • The ability to design your computer to your exact specifications • Choose monitor size, processor, operating system, media enhancements, warranty, memory, etc.
Amazon.com Dynamic Pricing Tools • Shipping costs are varied depending on where they live. • Outside the U.S. usually costs more to ship • Auction sites like Amazon’s auction pages and eBay a good example of dynamic pricing.
Stuart Weitzman Case Study • Problem • SW Needs Help with Their E-Commerce Site • Strategies • Improve Navigation • Simplify Customer Login Procedures • Enhance Branding & E-marketing Efforts
Stuart Weitzman Case Study • Results • SW has Attracted 200 New Preferred Shoppers to their Web Site • Increased Sales & Exposure by Building Site Loyalty & Recognition through targeted E-mailings • Improved Navigation to Allow Customers to Place Orders with Ease
5 Strategies For Effective Online BrandingWorkZ.comBy Joe LePla • Be True to Your Brand • Be Relevant and Engaging • Provide Branded Interactive Value • Brand Relevant Content • Enhancement of On-Site Brand
Conclusion • Creating a strong brand provides competitive advantage • A strong brand creates lasting value