Showing posts with label Recon Thursday. Show all posts
Showing posts with label Recon Thursday. Show all posts

Thursday, December 26, 2013

Make it Easy to Buy Your Products (Recon Thursday/Place)

Once a Day Marketing™ featured video blog: Make Your Product Easy to Purchase Your Product

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™ and today is Recon Thursday and we are discussing how to make it easier for your customers to buy your product.

It’s nearing year-end and the economy seems to be turning around a bit.  Now is a great time to consider what you can do to bolster sales in the new year.  One item to focus on is making your product easy for your customers to find and buy.

There are a few key items to consider.  First, look at where your products are currently being distributed.  Are you able to increase their presence in those distribution channels?  Are there new channels you can implement?

If you are retailing your product online, determine how to display it on your website so it is very easy for customers to buy.  If you are selling through retailers and distributors, work with these channels to enhance the placement of your product.

When your customers have finally decided to buy a product and, in particular your product, you want to make sure it’s very easy for them to find.  If they have to look very hard they may accidentally discover your competitor’s products and might just buy that instead.

Ensure your product is very visible.  Make that purchase easy for your customers and enjoy the enhanced sales it will generate.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at 11am (MST) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, December 19, 2013

Yearend Review: Your Competition, Market and Company (Recon Thursday/Process)

Once a Day Marketing™ featured video blog: Year-End Review: Your Competition, Market and Company

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™ and today is Recon Thursday.  As the end of the year approaches, we are reminding you to review your competition, your market and your own company.  By understanding these three factors you are better positioned to get your ducks in a row and prepare for your branding and marketing next year.

To truly develop the right marketing strategy and tactics for the new year, you should have a thorough understanding of your own company’s successes and failures.  Knowledge of what your competition is doing and what is going on in the market place are also essential.  In-depth understanding will enable you to create a marketing plan that will make sense for next year.

Start by looking at your competition; understanding their strengths and weaknesses may allow you to identify opportunities to outperform them in the coming year.

Next review the market place.  Look at the trends; what innovations can you apply to your products that will allow you to capture additional market share?

Lastly, evaluate your own company.  Identify which marketing strategies worked and which ones didn’t.  Develop new strategy and the tactics for your marketing plan to improve your company’s results in the new year.

Strategic planning for next year is dependent on your knowledge of your competition, market and your own company.  Work with your team to develop the strategy and tactics based on that knowledge.  Then have some fun in the new year and see what kind of rewards you will generate.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com. Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com. Listen to Ask Those Branding Guys™ every Monday at 11am (MST) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, December 12, 2013

Seeking Your Next Big Idea (Recon Thursday/Process)

Once a Day Marketing™ featured video blog: Discovering Your Next Big Idea

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™ and today is Recon Thursday. Our tag line is “Inspiring Ideas Inside” and we are going to inspire you to find the next big idea for your company.

We can’t stress enough the importance of innovation, it’s critical to everything you do in your company. Next we are going to provide you with a few thoughts around where you can look for the next big idea for your company.

You probably don’t realize it, but that next big idea is right in front of you. Here are some ways to search for it. First, ask your customers; they are knowledgeable about your product and people and they have good ideas to share about how to make your product or brand better.

Next, ask your employees; they are literally in the trenches every day marketing your product and working with customers.  They also will have ideas to enhance your brand.

Then examine your market landscape.  Review what your competition is doing.  Are there any tactics they are using that you can adopt? Also review material from large companies who spend a lot of money and time marketing and branding and see if there is anything you can employee for your company.

Research major trends; there are numerous innovations emerging all over the world which we have discussed on Digital Friday. Is there anything here that your company can take advantage of?

Lastly, use search engines to seek out the 10 best “fill-in-the-blank”. You might search the ten best ideas, trends, innovations or something more specific to your industry, brand or product. As you begin to explore the search engine results; ideas are going to surface that may be a good fit to improve your brand or your product for the coming year.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at 11am (MST) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, December 5, 2013

Crafting a Winning Culture Part 2 (Recon Thursday/Process)

Once a Day Marketing™ featured video blog: Building a Winning Culture Part 2

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™.  It’s Recon Thursday and we are concluding our series with Part 2 of crafting a winning culture.

The idea for this blog came from Jim Stengel’s book "Grow: How Ideals Power Growth and Profit at the World’s Greatest Companies."  The 10 principles were compiled by Martin Zwilling, a Forbes contributor.  Today we are going to look at the next five principles:

#6 - Set your standards very high.  You always want to challenge your team.

# 7 - Train all the time, coach every day and don’t criticize.

# 8 – Create symbolic gestures to excite your customers and your employees. Think about Apple announcing the next new product.

# 9 - Think like a winner and act like a winner.  You will project this attitude to your customers and also to your employees; everyone is part of a winning team.

# 10 - Live your desired legacy.  If you don’t know your ultimate goal or direction how will anyone else understand it?  It’s up to you to live it and to share it.

By following these principles you should accrue two major benefits.  First, that you will build a team based on your ideals and establish a good foundation for future direction.  Second, you will give your team the freedom to create.  Who knows what that team may achieve in this winning culture where everyone is encouraged to try new approaches.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at 11am (MST) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, November 28, 2013

Choosing the Right Media Producer (Recon Thursday/Process)

Once a Day Marketing™ featured video blog: Selecting a Media Producer

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™.  It’s Recon Thursday and we are continuing our series looking at outsourcing marketing support for your company.  Our focus today is on Media Production.

Media is a vital tool to promote your brand and products.  Websites, social media and phone apps are all mediums to leverage for video distribution.  If you feel it is time to invest in professional media production for your company, the following are the essential elements to consider.

There are two main areas of expertise in creating video; media producers and media production companies.  The media producer is the person who provides creative input as well as management of productions and other professionals.  Media production companies are sometimes just that.  They know how to capture images and edit, however, they may not have the creative capabilities you require.  I believe having a first rate media producer is the most important element to a successful video.

Qualifications to review when you are considering a media production company include their general production skills; they should be very familiar with cameras, capturing images and ensuring they provide the kind of shots you are looking for.  The professional you select should also be very competent in audio production.

Next is graphics and animation, these are powerful tools that will enhance the production value of a video or media production.  Validate that the company you want to work with has a good graphic eye, knows animation and how to make images appear on the screen as you expect them to look.

Editing is another important element.  The media expert should be able to take the footage they shoot and turn it into a compelling story that has a beginning, middle and end regardless of the length.

Lastly, they should be comfortable working across various platforms.  Not only should the media professional know traditional video production; they should understand what it takes to run video successfully on a smart phone, computer, tablet, video wall, kiosk or any of the other environments where media is used today.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at 11am (MST) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, November 21, 2013

Choosing Your Advertising Agency (Recon Thursday/Process)

Once a Day Marketing™ featured video blog: Selecting Your Advertising Agency

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing™.  It’s Recon Thursday and we are continuing our series looking at outsourcing marketing support for your company.  Our focus today is on Advertising Agencies.

Advertising agencies will create your branding and marketing and may also act as your media buyer.  Through branding they are positioning your brand and developing target audiences.  Under the marketing umbrella the agency will develop your message, design ads and may even produce TV commercials and radio spots.

Once you have made the decision to hire an advertising agency there are numerous aspects to consider in selecting one that is a good fit for your company.  Look at their experience; review their portfolio to ensure you like their work.  Meet the individuals that are part of the organization.  Find out how connected they are to the community and to the media outlets such as local papers, television stations and radio stations.

Other elements to review are the approach they will take to mount your advertising campaign and the associated costs.  The agency should let you know the metrics they will provide to measure the success of the advertising campaign.

Ensure you discuss fees.  Every agency will be different; they may be project based, hourly or retainer.  Lastly, make sure agency you chose has media buying clout.  If they are going to represent you to place your ads on television, in print or on the radio you want to know that they have the ability to obtain the most favorable pricing.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at 11am (MST) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, November 14, 2013

Choosing the Right Branding Consultant (Recon Thursday/Process)

Once a Day Marketing™ featured video blog: Selecting Your Branding Consultant

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™.  Today is Recon Thursday and we are continuing our series about outsourcing branding and marketing support for your company with a discussion around Branding Consultants.


In Part I we examined assessing whether or not your current marketing is effective and if it makes sense to keep it in house or bring in an outside consultant.  When you decide to hire a branding consultant, focus on the following four areas in your evaluation of the individual or company you are interviewing.

First is rapport.  Have you established a relationship and get along with this individual or company?  You will be working closely with them so it is very important that you work well together.  Your branding consultant should get you excited about your brand and branding in the future.  Number two; review examples of their past work and make sure you like it.  Don’t assume that because they are talented they will be able to provide what you want.

Next look at their approach, the steps they will take to complete your scope of work.  Fourth, call/review references, look at the age of the references and if they are not recent, request more up to date contacts.

Once you engage a consultant clearly define the scope of work.  Discuss fees; every company is different, they may bill you on an hourly basis, a project basis or retainer.  Decide what will work the best for your budget.

Establish a timeline.  I recommend that you consider a phased delivery.  Don’t encompass all the work into one milestone to be delivered at the end of the project.  Rather, establish a number of smaller milestones.  Review and approve one milestone at a time and then move on to the next.  Lastly, be very clear on the deliverable or deliverables the consultant will turn over to you when the work is complete.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers. Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at 11am (MST) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, November 7, 2013

Should You Outsource Your Marketing (Recon Thursday/Process)

Once a Day Marketing™ featured video blog: In-House or Outsourced Marketing

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™.  Today is Recon Thursday and we are beginning a series around assessing your branding and marketing to determine whether or not it may be advantageous to seek outside support.

If you have been following Once a Day Marketing™ you understand why branding and marketing are so important.  To ensure you are moving in the right direction, evaluate the results of your efforts and determine if you are attaining the desired results.

Here are some questions to consider when determining whether or not you should manage your own marketing or outsource it.
-          Do you have a marketing plan in place?
-          Are you consistently implementing that plan?
-          Do target customers clearly understand your brand?
-          Are you satisfied with creative material (website, ad copy, brochures)?
-          Are customers responding by calling, buying your product, visiting your website, etc.?

If you are honest in your assessment, then you know if in-house branding and marketing is working or whether you should bring somebody in to support your efforts.  If you decide to hire outside assistance who should that be?  When should you bring them in?  What should you have them do?

Stay tuned for additional blogs in this series where we will discuss the different type of professional support and provide information to enable you to make informed decisions.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, October 31, 2013

Be Bold in Your B2B Marketing (Recon Thursday/Promotion)

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™.  Today is Recon Thursday and we are discussing the importance of being bold with your business to business (B2B) marketing.

We recently read a blog that noted how most B2B marketing is bland.  The blog even used the phrase boring to boring to describe the lack of creativity in B2B marketing.  There is a commonly-held misconception that B2B marketing doesn't need to be glitzy or bold; that brave, brash and bold marketing is reserved only for business to consumer (B2C) marketing.

We strongly disagree.  To achieve success with B2B marketing you should be brave, brash and bold.

Our reasoning is simple. We are all constantly exposed to clever, entertaining and informative consumer advertising and messaging.  In essence, as consumers we know a good ad from a bad.  Consumer brands produce this kind of quality advertising because they know what it takes to attract attention and drive purchase behavior.

So why do B2B marketers abandon this successful approach when marketing to businesses?  We don't know why but we do know they shouldn't.  The customer evaluating a B2B offer is still a consumer who wants to feel good about the product or service, just as they do with any consumer purchase.

Boring advertising is just that...boring.  It doesn't excite and might even turn a prospect away who is wondering why the advertising isn’t more appealing.  As you develop your next round of B2B marketing, keep this important point in mind.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, October 24, 2013

Gathering Customer Feedback (Recon Thursday/Process)

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™.  Today is Recon Thursday and we are discussing customer feedback.

Customer feedback is an important way to learn about perceptions of your product or service.  There are many ways to engage customers and ask questions about what they like about your products and services and how they can be improved.

One of the easiest approaches is to simply ask the customer what they think when they come in, call or otherwise engage with your business.  Many will give you feedback.  It might not always be what you want to hear, however, it will be valuable information to begin reshaping your offerings.

Another approach is to select a few customers and invite them to lunch or out to dinner.  In this casual setting you can ask them to share their thoughts about your business.  This approach is a little less structured and perhaps they’ll be more open and honest.

Another option is to create a survey.  There are numerous ways to conduct surveys including online survey tools, paper surveys available to customers when they visit your business, or email surveys. Regardless of the direction you take it’s important that you start asking the questions.

The key is to be consistent in your quest to ask your customers what they like about your product and how it can be improved.  If you do this over time it will assist you to enhance your product, develop new products and improve the bottom line.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, October 17, 2013

Capturing Mindshare for Your Brand (Recon Thursday/Positioning)

Once a Day Marketing™ featured video blog: Being #1 in the Minds of Your Customers

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™.  Today is Recon Thursday and we are discussing your brand being #1 in the minds of your customers.

Quickly name a top cola brand.  Did you think of Coke or Pepsi?  Now name a leading tooth paste brand.  Did you recall Crest and Colgate?  These brands work hard to ensure you have top of mind for their products when making a cola or toothpaste purchase.

Just like Coke and Crest, you want to ensure your customers recall your product or service when they are making a purchase decision.  That's mindshare.  And the more mindshare you create the more market share you will capture.

For Recon Thursday, consider what differentiates your brand from your competition and make sure your target customers clearly know these benefits.  Develop strategy and compelling and consistent messaging to reinforce this dramatic difference to establish your desired top of mind.  Don’t forget, once you set expectations you are going to have to consistently deliver on that brand promise.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, October 10, 2013

Apples Dethrones Coca-Cola as Most Valuable Brand (Recon Thursday/Positioning)

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™.  Today is Recon Thursday and we looking at Apple's rapid rise to become the most valuable brand in the world.

According to the Interbrand Best Global Brands survey, Apple is now the world's most valuable brand.  Coca-Cola, which maintained the No. 1 ranking for 13 consecutive years, fell to No. 3.  Google, which was 4th in 2012, is now No. 2.  Rounding out the top spots are Microsoft and IBM at 4 and 5.

It's important to understand that every brand has value.  The more readily a brand is recognized in the market by customers and potential customers, the higher its strength and status.  When a brand is also known for providing a unique and compelling product or service that the market craves, valuation soars.  Based on this ranking, Apple, Google, Coke, Microsoft and IBM are really delivering on their brand promises.

How valuable is your brand?  By utilizing the 7Ps of Marketing and making a commitment to enhance your brand every single day, the value of your brand will certainly rise.  And so will your profits.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, October 3, 2013

Nike Direct to Consumers (Recon Thursday/Place)

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™.  Today is Recon Thursday and we looking at a recent report about Nike's Direct-to-Consumers (DTC) sales.

The Oregonian reported that Nike's direct-to-consumer sales, either through nike.com or their own stores, are on the rise.  I'm sure Nike is pleased with these results as are the company's shareholders.  What is the impact to other retailers who carry Nike products?

Nike shared with financial analysts that the gains generated in their own stores would translate into gains for the company's retail partners.  This is an interesting statement as Nike DTC continues to capture more mindshare and related market share.

Nike contends that the more they learn to improve sales from DTC the more strategy and tactics they are able to share with Nike retailers.  The company refers to the DTC process as a lab to gain knowledge around distributing their premium product to the marketplace.  Nike does in fact have a history of assisting their retail partners like Dicks' Sporting Goods and Foot Locker with branding and marketing support.

From a branding perspective, I find it fascinating that Nike can build a DTC business and still enhance the stature of their brand with retailers.  That's truly branding genius.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, September 26, 2013

Household Brand Names Fade Slowly (Recon Thursday/Positioning)

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™.  Today is Recon Thursday and we are discussing brand stature and how a brand that was a household name for years is making a comeback.

You may recall that last year Hostess, maker of such treats as Twinkies, Ding Dongs and the iconic Wonder Bread, went out of business.  At the time there was an outpouring of public sentiment and a rush to snap up the inventory that remained on store shelves.

According to a recent Associated Press article, Flowers Foods, Inc. purchased five breads brands from Hostess for the sum of $355 million, surely hoping to tap into the nostalgia for the Wonder Bread brand.  The familiar bread along with the three others, returned to store shelves this week.

Flowers’ strategy is likely to prove to be a good one.  Re-launching the brand which stirred customer emotions and captured hearts may be able to lure consumers back to a brand that clearly had excellent name recognition and a large percentage of mindshare.

Brands such as Wonder Bread and Twinkies are so much a part of our culture that they retain their value and mindshare.  Other companies are willing to invest in purchasing them to leverage their mindshare and, as a result, iconic brands are slow to fade away.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, September 19, 2013

Reviewing Your Distribution Channels (Recon Thursday/Place)

Once a Day Marketing™ featured video blog: Placing Your Products in the Right Place

Hello, I’m Jim Glover, That Branding Guy, for Once a Day Marketing.  Today is Recon Thursday and we’re going to look inside your company at Place, one of the 7Ps, also known as distribution.

What channels are you currently leveraging to make your product available to customers and potential customers?  You may be in a direct sales or retail environment; perhaps you’re selling your products online or using distributors or catalogs.  Your business may be centered around trade shows and the B2B environment.  There are many outlets to sell your product.  The question of course is where are the right places to be.

Seriously evaluate all the ways your customers can buy your product.  Are you everywhere you should be?  Are some channels working well and others aren’t?  Do you need to make changes?  Should you find new channels?  Monitor results by distribution methods to ensure customers are finding your product where they want it and you are achieving the results you expect.  If a particular channel is working for you, then keep pushing product through it.  If another channel has poor results, consider shutting it down.

Also research what your competition is doing.  You may be able to identify an interesting practice that you can emulate.  Search from a broader perspective as well, there may be another company doing something creative with respect to how they are pushing their products through a channel and you can do the same thing.

Lastly, you can ask your customers which distribution methods best meet their needs.  Again, the goal is to be where they want to find your product, not necessarily in the channel that you prefer.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, September 12, 2013

Evaluating Your Competition Using SWOT Analysis (Recon Thurday/Process)

Once a Day Marketing™ featured video blog: SWOT Analysis for Your Competition

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™.  Today is Recon Thursday and we are going to discuss using SWOT Analysis to assess competitors.

SWOT stands for strengths, weaknesses, opportunities and threats.  It’s a great analytical tool to use on your competitors’ brands and identify possible ways to gain an edge over the competition.

To perform this type of SWOT analysis, first identify a few of your top competitors.  Then consider the strengths and weaknesses of their brands, opportunities in their market and any threats they may be facing.  Create a matrix of these items and carefully analyze all the factors to determine where you may be able to establish a competitive advantage.

You can even integrate the 7Ps of Marketing into your SWOT analysis.  Look at your competitor’s product, pricing, promotion, etc. and identify strengths, weaknesses, opportunities and threats in each category.  The more you know about your competition the more effective the strategy you create will be in responding to the opportunities you have identified.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, September 5, 2013

Pricing Strategies That Work – Part 2 (Recon Thursday/Price)

Once a Day Marketing™ featured video blog: Pricing Strategies - Part 2

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™.  Today we are continuing our series on pricing looking at four additional strategies.

Key factors that come into play when evaluating pricing strategies are the uniqueness of your product and what your competition is doing.

The first strategy we will discuss is called bundle.  In this scenario various products are bundled together and sold at a lower price than the individual items.  Supermarkets frequently practice this method, perhaps advertising bundles of house cleaning products or milk and bread to entice customer to buy additional items.

Next is psychological pricing.  Here you determine a price that will be seen favorably in the eyes of your customers.  Would a customer be more likely to buy a $1 order of French fries or an order for $0.99?  The actual difference in price is negligible but psychologically the two price points are viewed very differently.

Then we have premium.  A high price is established to create greater perceived value for the product.  Some consumers will gravitate to a high price because they believe they are getting more for their money.

Last is optional pricing.  This strategy may be employed by a car dealer for instance.  They offer a base model and customers are given the option to add such items as stereos or leather seats to the product for a higher price.

There are numerous pricing strategies available.  Determine which are most appropriate for your product and your market.  You may want to try different pricing strategies for various target customer segments.

Pricing is the only one of the 7Ps that doesn’t cost anything to implement.  Pricing drives your revenue and eventually your profits.  It is essential to thoroughly evaluate the process of pricing and impacts to your customers.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

© 2013 Once a Day Marketing™.  All rights reserved.

Thursday, August 15, 2013

The Importance of a Community Brand (Recon Thursday/Place)

Hello, I’m Jim Glover, That Branding Guy for Once a Day Marketing™. Today is Recon Thursday and we are concluding our series on community branding focusing on why a cohesive brand is essential.

Recently we had the opportunity to lead a working session on community branding at the 2013 Rural Forum, New Mexico's top economic development conference.  The following day we were interviewed by an Albuquerque business reporter who asked why a community brand is important.  A great question which was the main focus of our presentation at the forum.

We are a society that is brand-driven.  Virtually every purchase decision consumers make is based on their knowledge, trust, loyalty, confidence and expectations of a brand.  This process doesn't change when people are considering where to live, work or recreate.

Like any marketed product or service, a community that has little or no brand recognition will be passed over and not considered by desired targets including new residents, businesses and visitors.  It's imperative for a community to share a clear, consistent and compelling message of what its brand is all about as well as the benefits it provides such as quality of life, outdoor attractions, and how it allows citizens to achieve the America dream.

Establishing and managing a unique brand will put a community on the map and drive future inquiries and opportunities.

Once a Day Marketing™ positions brands to become #1 in the minds of target customers.  Visit our website at www.onceadaymarketing.com.  Contact James Glover at (505) 501-1330 or email glover@onceadaymarketing.com.  Listen to Ask Those Branding Guys™ every Monday at noon (MDT) streaming live on SantaFe.com KVSF 101.5 FM.

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