5 Steps to Market Your Brand in the New Ecosystem
By Paula Yakubik, Managing Partner
I was recently invited to give a presentation on marketing a brand in the new ecosystem to the Las Vegas Chapter of Commercial Real Estate Women (CREW). It was an honor to meet with and talk directly with members who were struggling to market their businesses and navigate their way through what has become a very complex and challenging marketing mix. Here are five key steps that I shared with the group:
Step 1: Develop a plan with clear goals and a budget
In my 20 years of working with brands large and small, I am always really surprised when companies move ahead with marketing and they haven’t identified their goals and developed a plan or a budget. I have had the pleasure of working with many local and national brands who do take the time necessary to develop marketing plans, usually leading to positive outcomes. Successful companies and their agencies follow this plan formula: Discover, Define, Design, and Deliver & Deploy.
Discover: The discovery phase entails talking to many people, asking a lot of questions and analyzing every piece of data you can get your hands on. Conduct research in this phase. It can include key stakeholder interviews or workshops, competitive audits, and research on audience behavior and media consumption habits.
In this phase, you want to look at where you are in the market, where you want to be and how to get there. Define is where learnings from the discovery phase is boiled down into actionable insight and strategic direction. Here, the plan should define how best to target the ecosystem. It should include a competitive market position and opportunities for growth, target audience, channel partners and touchpoints, as well as performance objective and metrics.
In this phase, you will determine as a company where and how to connect – the context, the content and the connection. You will design your brand image and identity as well as the design of creative concepts for all channels including advertising, digital, and social.
Deliver & Deploy:
The impactful programs that you developed in the design phase will now go to work across multi-channel platforms. You should plan to deliver and deploy exactly where your customers are.
Step 2: Know your customers
Define who your customers are. Then, get to know them and listen to your customers across all channels. Next, distill that information, turn it into actionable insight and then do something about it. Companies that will thrive into the future are reorienting their business and their marketing efforts around their customers. Understanding and knowing who you need to communicate with is key.
Step 3: Become content creators
This is really about surrounding your customers with a total brand experience and not just serving up content. The idea here is to provide the right content to the right customer at the right time. To do this right, see step 2!
Step 4: Measure what you do
Marketing has become more data driven. To win today, develop a dashboard to measure your marketing efforts. Look at what works and do more of that. Stop doing tactics that don’t make an impact or move your audience to act.
Step 5: Be consistent
Companies that are consistent marketers perform better. You must have an ongoing presence and a consistent brand. If you only market when you need new customers, you will have a lot of catching up to do. Marketing is a year-long endeavor. Develop your marketing plan, meet on it monthly, keep it on track and on budget, and make sure you are driving the tactics and strategies forward.
So that’s it…. those are 5 lessons that I think you need to employ to market in the new ecosystem.