In one my previous  posts I did mention that ROI now has multifaceted meanings and implications for brands, either personal or corporate. In that said post, I did not give full detail on what each meant. In this piece I intend to make further clarification on how brand owner, drivers can enhance their brands’ returns through proper understanding and utilization of each. So let us examine each in the light of the above.

1. Returns on investment: This is the commonest and old use of the term. This has been with us as long as the society began. It is often calculated in terms of Naira and kobo. If brand equates and values every investment in terms of Naira and kobo, it may not always be to its advantage.

2. Returns on information: Every brand needs to be listed on information stock exchange market. Information is important to brand’s success. Being in command of relevant information, acting on it first as well as making it available to the niche is very important.  If your competitors usually get to broker the information first, your client may assume you are already sleeping and eventually your brand may become irrelevant. Being active on information stock exchange market around the world through content marketing, online, offline community places a brand at a better advantage.

3. Returns on ideas: sequel to the above, a brand needs to constantly trade with new ideas that will promote easy access to brand, innovations that will reduce time wastages among several other benefits.

4. Returns on impression- dressing, speech, write ups, association with certain individuals, brands etc. This basically has to do with personal brands. With corporate, product brands, packaging, office environment, interiors play a major role in creating strong impression that yields greater dividends.

4. Returns on influence- community, leadership: Brand’s active participation in Information stock exchange market as well as community building often lead to influence. The information stock exchange market often promotes brand’s influence which will definitely bring a return in the followings areas: positive word of mouths, loyalty, advocacy etc that is if it s properly done.

5. Returns on impacts: returns on influence will enhance returns on impacts made

6. Returns on Interaction: Building relationship is important to brand’s success. But real relationship begins with casual contacts, interaction. Many casual interactions may not lead to long lasting relationship even though this should be aimed. But when a casual interaction is done well today, brand can benefit from it tomorrow.

7. Returns on influence of Interactions: Make every contact and interaction count. This will guarantee adequate returns for the brand. R.O. I.I should guide all your brand’s online presence, designs, physical outlook, choice of points of contact staff, internal branding efforts etc It guarantees  huge revenue.

Today, the advent of new political structures, paradigm as well as evolution of media, advancement in technology has motivated every brand to step up its games. The single ability to be recognized as a global brand player often jacks up the intangible value of a brand. Today coca cola tops the list of most valuable brand in the world. At the last count its brand asset is worth 61 billion dollar. Aside from the financial benefit, being a global brand helps visibility, equity, association etc. If in doubt, ask Microsoft, Gucci, HP, Dell, Toyota etc. Global brands carry enormous weight of the market share in their niches and most times it helps brand extension. It is true though this has its own headache, disadvantage. Each global brand consistently influences customer decision in its favor just because it has become household name with reference to its niche. Global brand needs no introduction to most clients.

There is a great difference between a brand operating globally and a global brand. In my bid to help differentiate this in a clear way that will help my community, Kenneth Roberts’s definition comes to mind. He asserted that with adequate levels of capitalization, a brand can operate globally, but to become a global brand, a brand has to fashion a clear, consistent equity or identity with consumers. Across regions while adapting to local needs. If we accept this position, it means there is a wide gap between the two. One only needs cash, while the other requires more than huge cash flow. A global brand has to develop ‘equity potency’ that can enhance its acceptability and choice. To play the global brand league, brand has to be careful and avoid tarnishing its fiscal proprietary and ethical standards. As we know, technology is becoming merciless and non-partisan in reducing a giant to a dwarf in minutes through its instant network.

Global brands also have to know how to contend with local, home grown competitors which have entrenched themselves firmly in the minds and culture of the local market. A good advantage though is if the ‘foreign’ brand is first established like the case of MTN and GLO Telecoms in Nigeria. To play in the global league, each brand must acknowledge the necessity of investment on the brand itself. Not only should effort be made to fund other corporate assets like people, technology etc but a clear determination to fund the brand must be demonstrated.

In concluding this piece, I wholly agree with Roberts’s submission that global brand also call for strategic goals which are:

1. Protecting: protect brand’s core equity that drive market share

2. Fix negatives: Fix all negatives equity that may harm the brand

3. Attack: Attack competitor’s positive equity by neutralizing their advantages.

4. Leveraging: ensure you take full advantage of the competitors’ weakness.

As a passionate branding strategist, communicator I sometimes comes up as a prophet of doom to some. This is because part of the trade prerequisite is the ability to see the end, at least to some extent, from the beginning. This helps and serves as  a great skill. In one of my oldest posts, I did analyze that executives need to take proper care of their brands as anything that happens to them has a way of affecting corporate brand’s performance. The reason is that people will first of all buy into personal brands of the executives before they buy into the corporate brands. Some of the responses I got then particularly through phone calls were mostly influenced by emotions and not reasons. In less than a year of that post, we now have a case study at hand and we will continue to monitor how events unfold. On Friday the 14^th August, 2009, The Governor of the Central bank of Nigeria summarily dismissed the board and Managing Directors of five major banks in Nigeria for reason that were widely publicized in both traditional and new media.

As a fall out of this, a close friend told me that immediately the announcement was made, the company she works for terminated all their over five hundred million naira in one of the banks. One of the reasons given was that they would not be so sure of the news helms’ man capacity and unfolding events.

Renaissance Capital, A Moscow based financial industry rating firm brought out a new rating for some of the affected banks. As we can imagine, their rating dropped. What has happened to this is traceable to personal brands of the executives. For we want to believe that nothing has changed in banks structure or system except for the removal of the Executives of these banks.

Despite all the promises made to assure Nigerian investors whose money are in those banks, many individuals used their ATM cards to withdraw money during the weekend and those who could not throng the bank on Monday morning- which was yesterday.  If the traditional media news is anything to go by, many wanted to withdraw their monies yesterday through the use of ATM cards and could not because of shortage of cash in those machines and they have to throng the banks’ branches all around Lagos Nigeria. The federal Government today also suspends these five major banks shares on the stock exchange market. Even though I am not a shrewd financial analyst, but I do think this step will damage every communication to help people continue their relationships with these banks.The affected banks If I may need to mention again are Intercontinental Banks, Union Bank Plc,Afribank Plc,Oceanic bank Plc and Finbank.

The purpose of this post is not to analyze the action of the Federal government but to buttress the fact that brand owners, managers; Executives need to watch their backs while they are leading their own lives. Becareful of associations, management styles etc as these will definitely affect corporate success

When it comes to professional jargons, each industry has a ton. Branding has its own which often confuses non-initiates. Jargons are peculiar to people who share common views either as professionals or tribes. Niche is an offshoot word from French which means ‘position, slot, and place’. In French it can be translated as nest, shell. It speaks volumes about ownership, privacy, personal space that one has a control over. Niche marketing is an effort to connect with and sell to a particular group of consumers. There are lots of ways to define a niche market, with some examples revolving around geographic location, age, gender, sexual orientation, religion, or profession.  Wikipedia defines niche market as ‘A market with subset of the market on which a specific product is focusing on; therefore a niche market defines the specific product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intending to impact.

Today you either have a niche or itch. There is no middle point. Gary Hoover also states that “In the information business all the money is in the niches”. Niche marketing requires that a marketer identifies, targets a position that he is readily equipped to serve. Niche marketing is common to all industries. Almost every business started as a loophole observed by a marketer with a willingness to meet the need. Fast food thrives on the need of people who may not have time o cook at home because of other pressures. Laundry business began as someone perceived that not everyone will be satisfied with their watching ability. Not that alone, there may be no time to do that. So they look out for outsourced firm that can help. David Anderson and co defines niche marketing as a small moderate size business targeted to defined group. It thrives on narrowing the product or services, with a focused aim at one small group within a market. Niche marketing may still be an attempt to market or offering services to a particular audience with a common need that is not already served ‘adequately’. Till date, the world market is still large to carve out a niche. Innovations, changes are constantly attended with undiscovered needs. It will take individuals with eyes to identify a niche that requires attention. Academic world teaches us a great lesson in this regard. The more you advanced in degree acquisition, the more you have to narrow your research.  For a beginner, to start out in niche marketing

1. Have an ‘expertise, eye for something’ and be involved in an industry, identify a niche you are passionate about.

2. Attend conferences, listen, and observe the environment

3. Identify a specific group that is suffering or has a need

4. Create a solution market around your targets’ need which you are also passionate about.

5. Think about innovation, improvement on the present status quos and seek out to those who are yawning for that innovation and improvement.

Can someone add more? Please use the comment section.

Everything has a pack. The human spirit, soul has a pack called physical body. The pack serves as a container. Inside the pack is where we usually have the content. The content of a pack may sometimes not be visible but that does not mean the content is not as important. It is just that as human, we place much value on the pack and that usually colors our opinion. This may be an unintentional fault of ours; we are wired to be driven by sight. The pack serves as human first source of contact or emotional attachment.

Today our focus is on the content of customer experience pack that each carries anytime they want to interact with your brand. It is therefore expedient for those who serve in brand demands, customer service to have a good grasp of the content so they know how to deal, relate with first time clients.  It helps in understanding the customer better and once in a while we should enter their shoes and see how it fits. In my opinion, the content of any customer experience packs contain the followings;

1. Biases and prejudices: a first timer customer already has certain prejudices about your industry, companies or allied ones. He/she could have been ill-treated by another company next door. Through contact with your websites, adverts, publicity material, each customer has concluded or has certain impression about your brand. Coming to you is just to ascertain, confirm the impression they already have. As people/employee who deals with clients, try any form an impression of what kind of opinion or biases they already have. This is possible through active listening, observation etc. Without that we may eventually be caught in stereotype. Brand ambassadors should first wean themselves of any stereotype of behavioral types that are peculiar to certain individuals.

2. Needs: each new customer or potential customer that call you up, visits your website, office has a need. That is also a major part of what the customer experience pack contains. Try and walk through the content and guess how your brand can help deliver the client. Inability to do this appropriately will mess up your brand. The other alternative, work out a win-win solution through connecting them with the right solution provider.

3. Loyalty/advocacy content: Many potential customers also have this content inside their experience packs. Many want to become loyalists, advocates if they find out your brand is the real one. Never assume that a potential is here to make trouble either by their dispositions or attitudes. That may be hangovers of the brand’s contact employees of your next neighbor or competitors

In recent chart with one corporate employee whose brands is into manufacturing, he said he wonders why his boss pay more for employees that bring in new business from clients- especially those that are not previous clients. I answered will you appreciate your car that helps you achieve greater result or the car that usually gives you problem on the road. Given opportunity would not sell off the later car and retain the one that makes life easy. Come to think about it, clients are the oil that keeps the wheel of business going. In an earlier post we have identified four ways to generate new brand’s business, in this follow up, we will complete the series.

1. Perception: Like we have maintained, brand is 100% perception. With strong perception in the market, brand can generate new business based on the popular positive perception because of perceived value they may bring for hiring them.

2. Keep selling great ideas: another ways that can help brand generates new business today is for the brand to keep selling great ideas that may not have direct benefits to the brands but which can help the client get out of trouble or make their operations become much effective. Keep sending great white papers, articles of new discoveries that can help your client, meet with them to share your opinion on how they can do their business much better. Keep selling new ideas that may not be connected to your brands as well as given clients new ideas that can guarantee returns for them. Remember that inside every idea is a business for many brands. Your brand will be considered for any service that the idea requires. Remember ideas are the currency that allow you both to grow- Robert Merrit

3. Create your opportunities: Do some gigs for free. It will not hurt your brand. Help a client out without a fee sometimes. Help out some start ups with advice, information or research data that will enhance their jobs. This will pay someday.

4. Develop strategic partnership: Developing strategic partnership with other brands that are not directly doing the same kind of business with yours but who sometimes encounter clients who need your brand services can also help your brand generate new business. How many of these are my using? I am working all for now

Guess these are enough for now, is there any one with other points, please share your opinion and use the comment section.

No one wants or desires attack but we can not afford that once in a while. Sometimes the attack may not be intentional or it may be a result of mis-directed angst. Attack may be justifiable also. A careless press of computer buttons by an individual can spell a viral damage and the hard earned image, reputation of the brand will be gone. Most of the justified attacks may stem from brand’s behavior, attitude. Whichever way the attack comes from, a brand will do well if it already has its arsenal positioned in a way that guarantees early detection of the attack through setting up alerts that can help them notice the source of the attack as soon as it starts. Inability of brands to do this will make the damage spread like a wild fire that becomes unquenchable without great bucks.

The followings can be adapted by brands when there is any attack.

1. Plan your response strategy: Without a plan, failure is inevitable. Every brand must develop crisis response plan. There are several types of crises, attacks, being pro-active helps a lot in handling any brand attack whether it is online or in the physical space. When a brand has plan, the brand will not shot it doors to people who needs information as we normally have during crisis and attack. The brand and its owner know what to do next.

2. Set up alerts: Always set up alerts on the net to help you have access to brewing attack before it becomes widespread. This should be the initial set of weapons in combating any form of attack particularly the online ones. Physical alert is to know the editors that handle your beats, niche in all the media who can bring the issues to you as it breaks.

3. Listen: The first step that should be followed is to listen attentively. Listen to what is being said. Never jump this level because if the brand does not have good command of the issue, it may not be able to address it properly. If it is online, listen to the conversation; find the source of the attack among other vital actions. While you are actively listening, you can now know which angle will work.

4. Be humble to discern the point: sometimes pride colors our perception about the whole issue. Pride may not allow the brand’s driver to see the points in the other parties’ argument. Be humble to see the facts in the other person’s argument and be humble to use the right words when there is a need to response. It will always be easy to handle if the brand already has a brand community which can support the brand’s cause but if not the brand should not hesitate to express its own point of view.

5. Act: having listened, then act on the veracity of the attack. Find the source and the major influencers and express brand’s points of view to them as they may help to douse the tension earlier than brand’s effort. For those who live in Nigeria, some would have noticed the use of this strategy by a leading Governor in the South West region whose state is the smallest in landmass but highly populated with all shades of people who daily throng to the state.

6. Be honest: Be honest enough to accept guilt when you know your brand is. Find lasting solution to the cause of the attack and carry on

Today we are faced with billions of interruptive marketing. It is every where. When you log on to yahoo or any of the popular social networking media, you are daily bombarded with flashes of interruptive marketing or advertising to use the known language. It has become the major source of revenue of most free sites where people can open account. As much as I do not have any misgiving about that, I am of the opinion that brands should begin to see ways such channels can be used to add value instead of playing the “ME too” game. Many brands should see the handwriting on the wall by now but alas, their consultants, Ad agencies in collaborations with in-house experts are more interested in what they will gain than what is good for the brand.

There is nothing bad in creating this channel for a brand as long as there is a subtle connection of value-adding benefits to the audience whose privacy is being infiltrated. According to one internet article, Interruptive marketing is the process of interrupting prospective clients from whatever they are doing at the moment… to get their attention in order to begin/further sales relationship.

In the early part of world wide wed introduction, interruptive marketing works because of its persistence, hard work among other factors. More importantly it works because it resonated with the time where information passage reigned supreme. The other factor that aided the effectiveness of interruptive marketing then was its newness.

Today time has changed, interruptive marketing has become an irritation and it is wearing out prospective clients yet that has not informed many brand owners to device a new direction to follow. Even though this system can still be used, it must obey the present age rule. Today many hardly look at such marketing strategy especially in the social media platforms that are meant to be where we meet friends, socialize. The worst offense is to start a sales pitch. People are developing strategy to avoid many of the platforms that promote such marketing tactics.

These interruptive marketing messages can be redrafted to establish relationship that will lead potentials from being an acquaintance, to consideration, interest and a final decision process which make the potential to become a fan. Seth Godin captures the essence of this in a book “permission Marketing” when he maintained that marketers, brands have no right to sell in most of these social networking sites (italics mine) but to initiate first a permission to start a relationship that will probably lead to the road of connection. As we know we hardly give a total stranger a chance to start sales pitch at the first encounter. The wisdom in this is that even if brands have to “advertise” in social media platform, the wordings of all their interruptions should be drafted in a way that will lead the potential to a site where content marketing or the usefulness of the brand is already store. I think after this process should sales pitch be introduced otherwise, the first impression created may take several efforts to erase. The challenge with this is that Ad agency- because of the need to show ROI- will always counsel brand owners to the contrary. What a calamity! On the other hands, potentials they want to reach also hate unsolicited advert that is out to sell in a social gathering. Interruptive marketing has become an assault today on the potentials and this is against the rule of etiquette. Brand through their ads on social media should begin a process of asking for permission to be a friend, be ready to accept no or be gentle on their psyche through use of  “suggestive” words like a guy who needs a date.

On social media platform, I will want to agree with what Seth Godin says “You can either appear like a shameless flirt or as a gentleman”. Brands need to foreclose the road of aggressive approach they are now using and become gentlemen. I am of the opinion that permission strategy will work better than interruption, guerilla methods being used by brands today. Interruptive marketing is becoming noisy, wasteful, annoying and damaging and the difference in all is the approach and the wordings of the adverts. Most of them are devoid of any value-adding content or a direction to one.Most are laden with highly sentimental contents that are repeated everyday. What happens to creativity? They are already in saturation stage, brand owners please change!

Many things have been said in the praise of recession and the major influence it wields in bringing every brand activities to a halt. My conviction is that there is nothing that is entirely evil. I do not believe in totality of evil. In every disadvantage is a stupendous progress. That is why even in recession, there is room for profit. Any brand can still make outstanding progress despite all.

Everyone/brand will be touched, but not every brand will be adversely affected like others. A brand that connects, educates, entertains as well as gives generously can still be assured of progress, profit and success. Not that alone, any brand that can show a high level of optimism will draw the light to itself despite the gloomy reality. No one wants to hear a pessimist brand’s story; the brand must keep assuring its stakeholders of a better tomorrow.

There are several values in recession and a wise brand can take its advantage to maximize its value. Recession helps any brand to annex the followings opportunities to ride the storm.

1. Real world experience: The recession offers untold opportunity to brands through self examination of what really matters. It points brand back to the passion that created it. Most times when things become rosy, brand may disconnect from the main, original passion. Recession helps to re assess where the brand has missed its mark, where the brand has pursue fame instead of the vital force that establishes it.

2. Real value: Through recession, brand properly understands the real value that keeps their customers to them. Many brands do not have adequate knowledge of what keeps their loyal customers to them. The customers that patronize a brand during recession are those who had become one with the brand. This in a way gives a clue to the brand the real value it has being creating for so long. This helps the brand to focus its energy in the provision of real value as well as to accelerates them.

3. Real (offline) relationship: recession compels brands to go beyond online relationship. It enhances real value adding offline relationships with its consumers. Take the advantage in having a real life relationship to enhance the brand’s opportunity during recession.

4. Natural joy, less TV: for personal brands, recession helps to build stronger relationship with immediate families and colleagues as they naturally become a source of hope, encouragement to one another. Personal relationships are enhanced because each needs the support of others as not much good news are relayed on TV. People begin to find solace in their relationship more.

5. Fresh, green: Recession offers opportunity to brands to refresh, reframe and become much more active again.

6. Innovation: Economic crunch also promotes brand innovation. To remain relevant, innovation is important during recession. New design improves brand’s sustainability and differentiation. If recession holds such value to brands, brand needs to think positively about recession. There should be no excuses for failure.

Many times brands-personal brand, corporate- invest so much money on relevant issues but ignore the major part where their actions speak louder than words. For those who care, we have maintained that brand is all about experience and perception. Perception has to do more with the mind and psyche of the customers. A brand is not as strong as what the customers; buyers of the brands say it is.

Interestingly for financial services provider, they need to do more in this recession to continue to enjoy the loyalty of those who pay their bills. Financial services firm spend more money on advertisement than any other industry at least as we know. Every brand must ensure that nothing is done at the point of contact with the brand that will be sending negative vibes or lack of concern for those who patronizes them.

Most financial services firm sing the song of a clear leader with higher networth in terms of capital at their disposals, some claim that they have global reach with greater concern for their customers. Yet they destroy their messages right there at the point of contact by placing ‘industry standard signal’ that runs to the contrary. We believe that perception happens right at the point of contact. What is the value of your care to the customers when you placed a signal that says ‘I do not care what happens to you; just bring in your money’ at the entrance? What is the value of a great interior when I cannot seat down with my mind concentrating on the transaction I am doing when inside?

Why am I assured of safety, growth of my fund when I am within your premises and I can not be rest assured that I am in the  house of a friend who cares about me? In the light of the above we call the attention of financial services firm to the above pictures and think about the signal they give that damage their love songs in their advertisement that consumes billions annually.

For individuals-Personal brand- are there things we are doing to damage our strategies at the point of contact. Think about your brand environments-office, table, interiors, dress sense, attitude, lack of courtesy and concern for others. The experience your target audience has at the point of contact with your brand goes along way to influence your perception.In the light of these, why do we have ” car are parked at owners risk, items are kept at owners’ risk etc, when they have hired private security personnels  by the banks who in turns collect millions yearly from them for services renderred?” Is someone thinking? Please help me with your opinion.