As the consumer and business worlds become increasingly commoditized, brand has become the de facto lever for driving big growth.
The application of marketing science to organizational efforts around awareness, trust, and relevance will be at the forefront of every marketer’s mind as organizations plan for the year ahead. According to GroupM’s “This Year Next Year: Global 2021 Mid-Year Forecast,” global ad spending will increase by double digits from the previous year, exceeding USD 1 trillion by 2026. Businesses need to be better able to judge effectiveness with such a large investment than simply displaying survey data from a few quarters ago.
Furthermore, during the last year and a half, people’s collective behavior has evolved, and with it, the methods in which customers connect with brands has shifted. After the dust has settled, companies must move quickly to develop modern, resilient, and valuable brands, which necessitate a mix of old and new strategies while also maximizing financial resources.
Here are four strategies to successfully establish a brand in 2022 and beyond:
Get rid of the same-old surveys that are only filled out by a few real customers and armies of bots
Marketers are increasingly under pressure to conduct more campaigns with shorter lead times, and online market research has become one of the most extensively employed approaches among them. Survey responses, on the other hand, are at an all-time low and rife with bias and bots, leaving marketers unsure of how to interpret the data and forcing them to make crucial decisions based on snapshots in time. While eliminating surveys entirely is not the solution, it is critical to provide a second totally objective alternative as a complement to the existing approaches.
Begin continuous benchmarking and data democratization
Benchmarks are essential for determining how one’s marketing efforts compare to those of other companies. They help in defining the goals in the first place, providing insight into flaws in the strategy, and putting marketers on the right track to success. It’s critical to choose benchmarks that allow for consistent, regular, and objective updates that are available to people at all levels when considering how to set them.
Marketers will want to start sharing intelligent and actionable data to everyone in the business once they’ve established and implemented the right benchmarks, because the brand lives beyond the orchestration generated by marketing leads.
Create company-wide OKRs that put the brand first
Businesses will need to align everyone with overarching goals and key results (OKRs) now that employees have been empowered with the proper information. This gives everyone the clarity they need to grasp the company’s priorities and make sure they’re all working toward the same goal. Though it appears simple at first glance, far too many people waste their time on the wrong things.
Departments, teams, and people are entrusted with the responsibility for delivering specified goals as OKRs spread throughout a business, leading to improved employee engagement and support.
Make it a priority to build brand memories
The long game is regarded to be the most crucial game in marketing. Strong mental associations are an important part of a healthy brand, but it is widely known that human memory deteriorates over time, and that this has an impact on decision-making. While a new launch or a huge statement is guaranteed to get a lot of attention, consistency is the key to long-term brand building.
One effective marketing campaign did not turn a well-established company into a valued asset. Instead, they’ve concentrated on establishing a steady drumbeat of consistent, memorable, and timeless brand messaging.
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