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Scoop.it!
...Brand is the story you tell and the position you occupy in people's minds. Do they file you under "high-end bespoke couture"—or "fast fashion?" There are markets and target audiences for everything but it's your job as a business owner or marketing leader to be crystal clear about the image for which you're aiming and how that influences everything from pricing to distribution to customer experience to—yes—visual identity.... 
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Scoop.it!
The changing way in which customers review products can be great for business ... or terrible. You ask a friend where she got her new Macbook Air and she gushes about the selection and service at her local electronics store so much that you decide to check it out next time you're in her neighborhood. Your boss can't decide where to go out to dinner, so you pull up Yelp on your phone and find a nearby restaurant with the highest ratings. Whether you're aware of it or not, both you and the businesses you patronize benefit from brand advocacy. Brand advocacy is the latest reincarnation of a concept that most of us are quite familiar with: word–of–mouth advertising, individual recommendations, vouching and the like. It relies on advocates promoting brands via personal marketing, which can be as simple as telling a friend verbally or posting on Facebook. This method is incredibly effective because of a simple – and very, very human – concept: trust. We trust our friends, the Yelp community, particular bloggers or Twitter personalities who share their preferences and influence our decisions accordingly. From the consumer’s perspective, personal testimony is vastly more relatable than pure numbers, and we value reviews over ratings. How often have you looked at a Yelp or Amazon entry without reading the reviews?...
Jeff Domansky's insight:
Here's the power and the gory of brand advocacy and word-of-mouth.
Scoop.it!
The Starbucks Coffee marketing research department is kept busy providing oodles and oodles of insights into the Starbucks brand through yearly brand audits. And take it from this former long-time Starbucks marketer: The company learns a lot from these studies. However, when it comes to measuring and managing the Starbucks brand on a daily basis, the Starbucks marketing department generally relies on a much simpler method—a brand checkbook. Just as your personal checkbook has credits and debits, a brand checkbook has credits and debits in the form of brand credits and brand debits. "Brand credits" are business activities that enhance the reputation and perception people have of a brand, and "brand debits" are those that detract from the reputation and perception of the brand....
Jeff Domansky's insight:
How Starbucks measures up using the simple concept of "brand credits and debits." Very interesting concept worth exploring.
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Scoop.it!
...Q: In your new book, Absolute Value: What Really Influences Customers in the Age of (Nearly) Perfect Information (HarperBusiness), you and co-author Emanuel Rosen say marketing needs a total overhaul. Can you explain? A: For the first time in history, people can assess the absolute value of things they buy. User reviews, price comparison apps and other digital tools mean we can buy things based on almost perfect information, instead of irrational perception. So marketers need to understand what influences this shift in decision making...
Jeff Domansky's insight:
Here's a look at the impact of review sites and the challenges ahead for business
Scoop.it!
Chipotle was the latest brand to engage in a “fake Twitter hack” marketing stunt, following in the footsteps of MTV and BET a few months ago. The intention behind these stunts is to clearly boost fans and followers for their brands, but, unfortunately, exposes a major flaw in how brand see their customers and how their perception of social is flawed. Furthermore, these types of theatrics deter from the game-change possibilities of how brands and customers can build mutually beneficial and long lasting relationships through these platforms...
Jeff Domansky's insight:
The problem with "faking" as a branding or marketing strategy is that it eventually dilutes or negatively impacts your brand or reputation or worse. A great brand is honest, true and trustworthy.
Scoop.it!
The best overall brands in health and beauty, and food and beverage categories are Crest, Gillette, and Dove; and Kellogg, Heinz, and Kraft, respectively, according to a pair of new Forrester rankings based on online surveys this year of 4,500 adults. The Boston-based market research firm argues that brand health comes from the extent to which it is trusted, remarkable, unmistakable, and essential. If you turn that into an acronym, you get Forrester's TRUE formula for brand equity....
Jeff Domansky's insight:
Forrester research adds insight into what makes healthy brands successful online. In a word, it's the trust factor.
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Useful overview of branding and valuable tips on how to develop your key messaging.