ROI : FROM GOOD TO GREAT

We’re all aware of the product life cycle phases whereby a product increases in popularity, levels out and then declines. But what may be less obvious is how branding can indefinitely influence, shape and enrich each phase of this cycle. To fully capitalize on each phase requires a shift in mindset - away from managing the life of a brand and towards managing a brand for life.

The great news is strategic branding can enrich, maximize and extend
a product at any point in its life cycle."

Managing the life of the brand historically meant increasing marketing spend at launch and sustaining a level of investment through peak. Not surprisingly, the brand went from boom to bust as marketing spend declined and the product subsequently declined in popularity. Conversely, managing a brand for life requires proactively optimizing opportunities at every stage of the life cycle – from brand development, to recognition, loyalty, sustainability and beyond. It means constantly maximizing key elements of the brand, specifically brand position, messaging, personality and image.

To effectively manage a brand for life requires a thoughtful, open-minded approach during all phases of the product life cycle. By way of example, incredible opportunities exist during the evolution of the key brand elements:

Brand Position and Messaging. Take the time and have the courage to listen to your customers and their feedback. Acknowledge and make every effort to overcome customer objections toward your product. For Clarisonic, within the nano-seconds of an online page turn, we needed to visually communicate what this new device did and why a $200 beauty technology product was more effective than a washcloth. Had we launched without this information and targeted message, awareness and ROI would have been good, but not great.

Personality and Image. Because your brand is co-owned by you and your customer, it is crucial that it is in alignment with customer perceptions of your company, your product and of the customer themselves. At a minimum, test your brand before launch and make sure that your brand behaviors and activities make sense. To develop a more meaningful brand, embrace your customers and begin a dialog with them. Remember to talk with your customer, not to them. Invite them to participate in your brand and encourage them to create powerful, meaningful content. This customer-inclusive strategy is the most effective way to turn new customers into brand evangelists and will result in exponential returns for your brand.

This methodology can be the difference between good ROI and great ROI.