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Customer Insight Derrick Daye

18 Customer Facts Marketers Can’t Ignore

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The Ritz – Carlton brand was built on world-class customer service. Its motto, ‘We are Ladies and Gentlemen Serving Ladies and Gentlemen’ is brought to life each day and has powered one of the world’s top brands for meeting and exceeding customer expectations. The following statistics provide more inspiration to know, serve and cherish the customers that help build your brand.

1. It costs 6 times more to attract a new customer than it does to keep an old one – Understanding Customers by Ruby Newell-Legner

2. 89% of Consumers purchase from a competitor following a poor customer experience – Harris Interactive, 2011 Customer Experience Improvement study

3. Only about 4% of dissatisfied customers complain.  96% just go away.  Harris Interactive, 2011 Customer Experience Improvement study

4.  50% of Consumers give a brand one week to respond to a service concern before they stop doing business with them.  – Harris

5.  Only 37% of Brand received “excellent” or “Good” customer experience scores this year –  Harris

6.  Only 1% of consumers say expectations for good customer experience are always met – Harris

7.  US Businesses lose an estimated $83 Billion in sales annually due to poor customer experiences – Parature Customer Service Blog

8.  Americans typically tell 24 people about negative customer service, they only tell about 15 people about positive experiences – 2012 American Express Global Customer Service Barometer

9.   A 5% increase in customer retention increases profits up to 125% – Bain & Company

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Branding Conferences Derrick Daye

360° Of Brand Strategy For A Changing World

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Branding Strategy Insider and The Blake Project Proudly Present:

The Un-Conference: 360° of Brand Strategy for a Changing World

May 16-17, 2013

Andaz Hotel, San Diego, California

Limited to 100 Participants

Dedicated solely to the art and science of brand strategy and management, this two-day workshop will be unlike anything else you’ve ever experienced!

For two full days in May 2013, a small, exclusive group of marketers will gather together with legendary marketer John Sculley and the Senior Partners of the Blake Project to create a one-of-a-kind learning and networking experience dedicated to all aspects of building successful brands for the 21st century.

Intensive and illuminating, this workshop will equip participants with the insight, tools and techniques required to release the full potential of their brands in a new era where consumers now drive and own the conversation about brands.

The Un-Conference: 360° of Brand Strategy for a Changing World

Over the past two decades, the specialized discipline of brand strategy and management has evolved significantly from an advertising function to a strategic business imperative for creating competitive advantage and greater financial value.

For nearly a decade, the Branding Strategy Insider blog has been recognized by brand marketers all over the world as their leading source of insight, inspiration and innovation, un-covering the ideas and techniques of the best thinkers and practitioners in the business who are driving innovation in all aspects of brand management for the 21st century.

As an extension of this highly-valued brand education resource, The Blake Project and Branding Strategy Insider have designed a brand education experience unlike any you have ever attended. It’s not the typical conference format of talking heads and distance between you and the experts. These two days are interactive working days where you will take a deep-dive immersion on the most important aspects of creating innovative brand-building strategies – all presented in a unique and competitive team environment.

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Brand Strategy Derrick Daye

Brand Growth Requires Changing The Game

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Brand Strategy Netflix

Sometimes when I am faced with a problem, I can only see it from
one viewpoint. The result is that I get stuck and can’t figure out how to solve
the problem.

I was reminded of this the other day when a group of us were
discussing how best to grow the financial value of a brand. Because we tend to
think about a brand’s status in the context of its product category, we often
forget that the biggest opportunity for growth may exist outside the current
definition of that category.

In spite of the fact that most of our efforts as marketers and
researchers are focused on growing market share, the evidence suggests that
fighting for share within an existing product category is likely to be a long
hard battle, with little prospect of victory.

In most established product categories in developed economies,
brand market shares change very little from one year to the next. Any action is
likely to be countered by the competition resulting in a stalemate. It is not
that you can afford to ignore the share fight, because if you don’t fight, you
risk losing share. But equally, there is a distinct risk that overly aggressive
competition will result in unprofitable share fights and price wars.

So what should a brand do to generate growth? In many cases,
this requires stepping back from the current situation and looking at it from a
different viewpoint. How can you best change the game to your brand’s
advantage? This requires finding ways to change the way customers think about
the category, not fighting for share within the category.

I think there are three basic ways a brand can change the brand
game to its advantage:

1. Expand the category

2. Disrupt the category

3. Exceed the category

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Advertising Derrick Daye

Advertising And The Art Of Making An Impression

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Brand Strategy Advertising

The reference to an “advertising message” makes me wince. The
word “message” seems to imply that the advertising is designed to convey
specific information or an argument. But not all advertising is intended to
persuade people by arguing the merits of a brand. And even when it does, I
think we overestimate the degree to which people actually comprehend what is
shown and said in advertising.

Particularly for dynamic media like TV, online video, radio and
cinema, people rarely assess the relevance of an ad at the time of viewing.

There are three reasons for this.

First, there is no pause for thought. If people have decided to
watch the ads, then new content is constantly displacing attention on the old.

Second, most people are not in the shopping window, i.e. the
subject matter is not immediately relevant to them.

And, third, even for those in the shopping window, the
information is understood as a claim, it is not yet a belief confirmed by
experience.

But this does not mean that most advertising is ineffective.
Provided the ideas conveyed by the ad come to mind when relevant, then it will
have an effect, i.e. when someone is thinking about buying the product in that
category. So in the vast majority of cases, the best we can hope of any
advertising is that the content is noticed at the time of viewing and the idea
and feelings evoked are linked to the brand in people’s memories.

This is why I have always preferred the old-fashioned term,
“advertising impression.” Although it is typically used as a media term to
imply an exposure or ad view, the word “impression” also implies that people
get the general idea. They understand the gist of what is being said, without
necessarily consciously considering what the ad is trying to convey at the time
of viewing. An impression is the mental image of a brand that sticks in
people’s minds.

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Brand Licensing Branding: Just Ask... Derrick Daye

Brand Licensing Strategy

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Brand Licensing Strategy

Branding Strategy Insider helps marketing oriented leaders and professionals like you build strong brands. To that end we're happy to answer your marketing questions. Today we hear from Kate, a business reporter for National Public Radio in Rochester, New York who writes…

"Kodak cameras and related products will be back in the marketplace this year, but they won't be made by Kodak. The photo pioneer stopped making digital cameras about a year ago. Now it is licensing its brand name to another camera maker. Please answer a few brand licensing questions for me."

1. What if any concern should Kodak have in licensing their brand?

As with all brand owners, Kodak should be aware that JK Imaging or any other licensee will have certain rights to the Kodak brand and through their licensing relationship, JK Imaging could adversely impact Kodak brand equity. This could result from the sale of poor quality products, the sale of the Kodak licensed products in an unauthorized channel or region, or from not ensuring the manufacturing facility used by JK Imaging complies with safe international working standards. To mitigate this risk, Kodak should have first vetted JK Imaging through a rigorous due diligence process to ensure JK Imaging can deliver against the Kodak brand promise in all products they manufacture. Second, Kodak should ensure they have a thorough approval and auditing process to affirm that all products sold in the marketplace meet their standards and that all facilities are compliant with government and trade guidelines. By picking a best in class brand licensee, Kodak will continue to reinforce their brand equities as they engage with consumers across all channels and regions where the brand is licensed.

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