75: Kevan Lee & Shannon Deep - Understanding Brand beyond visuals
Sep 15, 2024
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Branding experts Kevan Lee, known for his focus on brand measurement and strategy, and Shannon Deep, who tackles misconceptions in brand alignment, dive deep into the essence of effective branding. They discuss how many senior leaders confuse brand identity with mere visuals. The conversation highlights the complexities of measuring brand effectiveness and the unique challenges faced by founder-led brands. Additionally, they explore future marketing trends and the critical role of brand strategy in achieving business goals.
Brand encompasses more than just visuals, as it includes all customer experiences with a company, highlighting its complex nature.
Measuring brand effectiveness is crucial for growth, yet it requires balancing quantitative metrics with qualitative investments in relationships.
Founder-led brands face unique challenges in preserving their identity during transitions, emphasizing the importance of clear purpose and values.
Deep dives
Understanding Brand Measurement
Leaders often seek concrete metrics when making risky decisions, particularly in evaluating brand investments. However, branding encompasses both measurable elements and intangible qualities, making it complex to assess. Brands are more than just visual design; they represent the total sum of experiences customers have with a company, including product interactions, customer service, and even word-of-mouth recommendations. Education on the nuanced impacts of branding is necessary for stakeholders to appreciate its value beyond merely financial returns.
The Role of Brand in Risk Management
Decision-makers frequently expect returns on investment when considering brand-related risks, a practice that can hinder genuine brand development. While there are quantitative methods to gauge brand efficacy, such as surveys and measurements, branding also involves investments in customer relationships and trust, which are harder to quantify. However, these investments can lead to long-term growth and loyalty, suggesting that leadership should embrace a more holistic view of brand initiatives. Accepting that brand growth is often a slow process may help leaders better manage their expectations regarding immediate ROI.
The Essence of Brand Differentiation
Establishing a clear brand identity involves defining a company’s purpose, mission, and values, which helps communicate what the brand stands for. This understood purpose enables businesses to effectively filter potential customers, ensuring alignment with their target audience. Leaders may face resistance when implementing branding strategies that require them to say no to certain market segments, emphasizing the importance of a unified approach to brand messaging. Authenticity in branding allows for a more engaged customer base while promoting areas of differentiation amidst competitive landscapes.
Navigating Brand Evolution and M&A Strategies
When brands undergo mergers or acquisitions, maintaining their unique identity while integrating with a parent company's ethos can be challenging. Companies like MailChimp have demonstrated successful retention of their distinctive branding post-acquisition, reflecting their commitment to brand authenticity. Maintaining a focus on ethos and values can help companies navigate brand evolution while remaining recognizable and relatable to customers. Successfully codifying the founder's vision into a broader company narrative is crucial to preventing identity dilution during transitions.
The Future of Brand Marketing
Brand marketing is poised to become a major differentiator in an increasingly competitive landscape, especially post-COVID. Successful companies are likely to be those that prioritize brand over transient advertising strategies, underlining the need for a long-term commitment. As the market evolves, effective brand strategies will rely on understanding how a company's mission and product serve its audience while fostering supportive relationships. The shift toward branding as a core competitive advantage suggests that companies should develop robust brand identities to thrive in the future.
The branding experts Shannon Deep and Kevin Lee dig into exploring the multifaceted nature of brand measurement and strategy.
Misconceptions surrounding brands and risks associated with brand decisions, the importance of aligning brand strategy with business goals, and the challenges faced by founder-led brands in maintaining their identity.
What does marketing look like in the future? Where does product marketing sit?
Takeaways
Many senior leaders conflate brand with just design and visuals.
Brand is an additional filtering mechanism for attracting the right customers.
Measuring brand effectiveness can be complex but is crucial for growth.
Founder-led brands face unique challenges in separating their identity from the company.
Brand marketing is becoming increasingly important in the current business landscape.
You can measure brand through various metrics, including share of search and brand awareness.
