The secret brand strategy formula at Technetium isn’t all that secret. In fact, many people use it without even realizing they’re doing it. The formula focuses on up to seven key elements that help a brand focus and / or refine its marketing strategy. While it’s important to initially consider how each element is created and brings a new brand to life, wise managers regularly revisit each element to ensure the brand is on track and achieving the maximum results in the current marketplace.
Realistically, many clients are fully capable of managing their brand strategy in-house but simply don’t have the time or resources to do so…. that’s where we come in. We act as the quarterback for your marketing effort guiding vendors, internal teams and executives through the brand refinement process leading them to your ultimate goal: winning the sales game.
So how does the formula work? If you are a product oriented brand, there are 4 parts. Service oriented brands use those four and add three more. Don’t worry, it’s not as scary as it might seem. Click on each element below to learn more… but don’t tell anyone. We don’t want it getting out!
After each of these seven elements have been determined and refined,
the next step in the process is developing the platform best suited to drive your marketing efforts in the digital age.
Look at your product as though you were a new customer who is completely unaware of your brand. Then ask critical questions like:
Second, is the element managers focus on most often. Assuming you know what your competitors charge for similar offerings want to avoid a “race to the bottom,” ask yourself:
The third brand element to think in terms of is promotion which focuses on all the ways brands can tell customers about products or services and, ultimately, sell to them. Here brands should ask:
The final element for product-focused brands is the place where your product or service is actually sold. Just as we recommend critical examination of the product / service, we strongly encourage clients to look at the physical locations were their products are sold and ask:
Marketing a service entails all the elements used to build a product-oriented brand plus three additional elements. The first is process which focuses on how a service is delivered and what the customer experiences during said delivery. How would you answer the following questions?
From the packaging of a product to the attire worn by employees, the physical evidence of a brand has a lasting impact on customers. So think in terms of anything a customer might see when interacting with your brand such as:
The final element, and one of the most important, is people. This element includes individuals and businesses that can impact your sales and marketing strategy and activities. If a brand searches, recruits, hires and retains people with the skills and abilities to best represent that brand, success will follow. Habitually consider the following: