This strategic role will look to develop and implement a truly customer centric program across this financial institution, to better the customer. Permanent role ASX listed investment management firm Stand-alone role This highly regarded financial… Read More
How do we frame our businesses in the marketplace so we can maximise their effect? How can we give our brands an unfair advantage? These objectives are always present when management seek to support their employees to enable them to achieve outperformance in their roles. Additionally, to do so transfers the power of your brand through to those resources from which you can benefit.
An article in MarketingMag from Madeleine Preece helps to show us the way. Madeleine, “Successful brands have long been advocates of brand experience, but the current advertising climate and the demand for more effectiveness and ROI for marketing dollars are putting it in the spotlight like never before.” If we go back and reflect on how retailing was conducted previously we find shopping was once an exclusive pursuit where only the wealthy were allowed in the stores. The display cabinets were open so people could touch and feel the products. Madeleine, “Today brand experience is often viewed as consumer facing activations such as interactive installation at a sporting event or in a shopping centre, commonly known as experiential marketing .”
When you provide a positive brand experience it becomes a business experience. Your stakeholders will benefit because it gives them the ability to deliver on their promises. You can avoid the approach of pushing rather than pulling your participants towards your advertising messages when you adopt a softer approach towards delivering your message. Madeleine, “So experiences that draw us toward a brand, that look to delight rather than harass, are naturally going to be more effective.” Statistics show 94% of people who attended a sponsored live event are more likely to buy than those who have connected with some other form of advertising. Engaging this way, by choice, moves those connected more quickly through the buying process. Madeleine, “It puts us face to face with the brand in a more intimate way than if it was coming from a one way piece of communication.”
When people opt in and decide to engage with a brand they receive a quantifiable experience and the brand benefits from this as well. Madeleine, “Brand experiences ask people how they feel, what they think, how they want to spend their time and whether they would buy a product.” The main benefit is that you will be able to hear straight from the source when you interact this way. Following on this information can be used to help formulate future marketing strategies.
Experimental marketing has been around for quite some time, so the data is not new. However as other forms of promotion enter the market place, digital, various social channels and agencies with new forms of research material, the fact remains that when you engage with people personally and directly with the product it allows them to interact immediately with it. The quick fix solution does not deliver results over the longer term, a sustained integrated approach is necessary to accomplish the goal. Madeleine, “The best results come from long term slow burn, business wide, always in the market activity that’s married with other marketing and internal communication strategies.”
So, if you want to maximise the effect of your marketing efforts it’s definitely a good idea to swing towards the unfair advantage solution. You will always be working under the constraints of a tight sales and marketing budget therefore you will need to gather all the help you can. This personal and direct approach is more pull rather than more push. A softer approach if you like. Over time this is the proven way to be more effective.
Richard Norey – Director