If you do not constantly transform to keep up with market trends in the right way, quickly, your business will be thrown out of the race. So what is the solution for brands?
In an era where competition is fiercer, there are many brands that are ever-changing and enamored with new trends. They think, with this way, businesses can attract a lot of attention of customers. That’s not necessarily wrong, but is it relevant today?
Soon Yu and Dave Birss, in their nearly 270-page book, Symbolic Power, point out that this is a common problem for most companies today. When they get caught up in the whirlpool of competition, they try to bring to market a series of new products. Gradually, they have forgotten the core values that the business has built, even deviating from the long-term strategy outlined in the early days to create a sustainable brand.
With more than 20 years of experience in the field of Marketing, helping to elevate a series of popular brands such as Samsung, Pfizer, The North Face… Soon Yu has summarized 3 factors that make up an iconic brand, including the Distinction, Conformity and Recognition. Along with that is the Symbolic Advantage strategy, which includes 3 corresponding steps to create those 3 key factors: Capability to attract attention, develop Maintainability, and build Growth Capability.
1. In order to be Different, you must create the Ability to Get Attention
You can’t be iconic without being different. As Soon Yu shared, the difference is the soul of the Symbolic Advantage strategy.
However, this is the era where “If you cover the car’s logo, you probably can’t easily tell if it’s a Toyota Camry or a Chevrolet Malibu”. From Soon’s simile, it is easy to see the fact that there are not too many brands that can become different in their field. Creating Attention is therefore the first step on the journey to building an iconic brand.
In “Symbolic Power”, Soon guides Marketers (marketers) to create Attention for their products. First, if the products and services you are selling already exist, then what you need to do is research with your team to select the potential factors that can become the most iconic. of the available factors, and thereby promote its development. And if what you’re offering customers is completely new to the market, then take advantage of the first-mover advantage, because “becoming the first to bring a new type of product to market is one of the best things to do. The best way to create Attention,” Soon shared.
Make it so that when people experience a feature or look at a featured feature on the product, they will immediately know it’s you without having to look for the logo. For example, the kidney-shaped grille, the roar of the engine, the sound of the car door closing to the pleasant sound emitted by the push of a button in the car is BMW’s identity, or the 1-Click feature. “Buy Now” is Amazon.
2. To Have Conformity, Must Develop Maintainability
Once differentiated, the next step is to maintain product relevance through building deep customer engagement with the passage of time.
According to Soon analyzed in “Symbolic Power”, to do this, marketers need to grasp two aspects, which are connection and time.
The connection is divided by the author into two aspects: “reason” and “emotional”. If you cannot put the “emotional” factor into the purchase decision, but only focus on meeting the “rational” needs of the consumer, you will forever fall into a vicious circle, because as experts once concluded. “There has long been a tendency to make purchasing decisions based on emotions and then to use reason to back them up,” argues. Therefore, marketers need to build connections by putting themselves in customers’ shoes to think about the things that will make them feel connected to a brand or someone, like similar interests, common interests. experience, or keep in regular contact…
The aspect of time is divided by Soon into 2 landmarks, past and present. “The past contains all the elements that have shaped the product,” says Soon, while “The present is used to make sure your product stays relevant, both now and in the future,” and “The ability to maintain Staying relevant for the long term helps you take great strides into the future with a foothold on the past.”
Therefore, Marketers need to pay attention to the timeliness of products, and more importantly, predict changes and new trends in consumer behavior in order to improve their products, in order to help brands can accompanies customers, instead of always trying to chase or take lucky steps.
3. In order to have Recognition, must build Increased Ability
Escalation is like the last door you have to pass on your iconic branding journey. Here, you get recognition from your target audience and become an icon in your field.
Soon mentioned three factors that create widespread recognition, namely: Frequency of exposure to featured elements, Conveying consistent messages, and Maintaining relevance to the featured elements.
For example, Disney’s Frozen movie once made a splash when it was just released in 2013. Even those who have never seen Frozen, they all know the character of Princess Elsa, or the title song of movie – Let It Go. That’s because Disney has come up with an amazing plan and is surprisingly meticulous. The process, says Soon, “was started long before the red carpet was rolled out to invite stars to the movie’s premiere,” or “long before the movie was released, warehouses are filled with millions of Frozen products and iconic elements.” As a result, Frozen worked miracles for Disney, and the company’s revenue growth chart also dazzled veteran auditors.
However, while many people have “jumped” to the stage of building Increased Capabilities by mistakenly thinking this is the factor that makes all the success of the business, Soon asserts this will be a violent trap. withered. If you don’t step up from Attention and Sustainability, in the long run, your business will not be able to grow sustainably, because you have not done business based on the needs of the market and also left no impression. deep impression in the mind of the customer.
“The ability to attract attention is to choose the best seeds. The ability to maintain those seeds in the hearts of customers. The ability to increase will water, fertilize and bring sunlight to the seeds. like budding, “soon Yu commented.
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