The document discusses copy strategy and brand equity. It defines copy strategy as how a brand communicates its benefits and positioning to customers. A strong copy strategy is built on three elements: the brand's benefit, support for why customers should believe it, and the brand's tone. It also outlines Kevin Keller's model for building brand equity in four steps: identity, meaning, response, and relationships. The document provides examples of how to measure brand equity through financial metrics, product value, brand audits, and understanding consumer perception.
The document discusses copy strategy and brand equity. It defines copy strategy as how a brand communicates its benefits and positioning to customers. A strong copy strategy is built on three elements: the brand's benefit, support for why customers should believe it, and the brand's tone. It also outlines Kevin Keller's model for building brand equity in four steps: identity, meaning, response, and relationships. The document provides examples of how to measure brand equity through financial metrics, product value, brand audits, and understanding consumer perception.
The document discusses copy strategy and brand equity. It defines copy strategy as how a brand communicates its benefits and positioning to customers. A strong copy strategy is built on three elements: the brand's benefit, support for why customers should believe it, and the brand's tone. It also outlines Kevin Keller's model for building brand equity in four steps: identity, meaning, response, and relationships. The document provides examples of how to measure brand equity through financial metrics, product value, brand audits, and understanding consumer perception.
The document discusses copy strategy and brand equity. It defines copy strategy as how a brand communicates its benefits and positioning to customers. A strong copy strategy is built on three elements: the brand's benefit, support for why customers should believe it, and the brand's tone. It also outlines Kevin Keller's model for building brand equity in four steps: identity, meaning, response, and relationships. The document provides examples of how to measure brand equity through financial metrics, product value, brand audits, and understanding consumer perception.
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THE COPY STRATEGY AND
BRAND EQUITY WHAT IS COPY STRATEGY?
• The Copy Strategy determines what to
tell customers about your brand, so to win their preference. WHAT IS COPY STRATEGY? It is the execution of the Positioning Statement. It sets a measurable objective and it is built upon three elements:
• Benefit or promise the brand makes to
customers (f.i. [Brand X] washes clothes cleaner and whiter than any other detergent) WHAT IS COPY STRATEGY? It is the execution of the Positioning Statement. It sets a measurable objective and it is built upon three elements: • Support or reason why customers should believe the promise the brand makes (often linked to R&D and product formulation) • Tone or how the brand should be perceived (f.i. Modern and progressive) WHAT IS COPY STRATEGY? These elements are chosen before creating the Positioning Statement and as usual you must support each choice with evidence from surveys and other reliable sources. HOW TO CREATE A STRONG COPY STRATEGY? A convincing Copy Strategy connects the expectations of customers concerning the product category with the benefits of our brand. Brand benefits are of two kinds:
• Pre-requisites to enter the market.
Differentiating concept to win in the marketplace. HOW TO CREATE A STRONG COPY STRATEGY?
• Pre-requisites to enter the market. For
instance, buyers of laundry detergent may expect products with enough cleaning power to remove dirt and stains as well as giving clothes a pleasant scent. HOW TO CREATE A STRONG COPY STRATEGY? • Differentiating concept to win in the marketplace. For instance, My Brand “washes clothes whiter than white” or “keeps clothes looking their best”. Strong differentiating concepts are often inspired by consumer behavior rather than product performance and design. HOW TO CREATE A STRONG COPY STRATEGY? The Copy Test helps make sure customers appreciate your Copy Strategy. A Copy Test investigates three pivotal aspects of the message: • Comprehension. The message must be clear and easy to understand. Complex or subtle messages may require much larger advertising investment. Professional Copy Tests helps you save money. HOW TO CREATE A STRONG COPY STRATEGY?
• Reaction. It must elicit a positive reaction (like
vs. dislike). It’s good practice to test the reaction of users to both the pre-requisites and the differentiation concept. HOW TO CREATE A STRONG COPY STRATEGY?
• Memorization. The message must be easy to
remember, to build awareness fast and facilitate brand recall when buyers make their purchases. HOW TO CREATE A STRONG COPY STRATEGY? • It goes without saying that before testing the Copy Strategy you must make sure the product delivers the technical performance it promises, for instance with a Product Test (or Concept Test when the product doesn’t exist yet or you just have a prototype). Otherwise, there may be a disconnect between your communication and the way your product performs, and the result would be a failure. Build Brand Equity WHAT IS BRAND EQUITY?
• Brand equity is the value that your brand
brings to your company. You can measure it in a number of ways, such as the price premium you can charge over a no-name product, or long-term customer loyalty. WHAT IS BRAND EQUITY?
• One way to strengthen your customers’
perception of your brand is to apply the Customer Based Brand Equity Model created by Kevin Lane Keller, a marketing professor and author of the textbook, Strategic Brand Management. These steps build from a base to form a brand equity pyramid. STEPS TO BUILD BRAND EQUITY • Step 1 – Identity: Build Awareness. Begin at the base with brand identity. Build basic awareness of your brand. Make sure customers recognize your brand and see it in the way you intend. STEPS TO BUILD BRAND EQUITY • Step 2 – Meaning: Communicate What Your Brand Means and What It Stands for. Know what your brand means (“performance”) and what it stands for (“imagery”). Performance describes how well your product meets customer needs. Imagery refers to the social and psychological aspects of this. For example, a company that is genuinely committed to being environmentally responsible will build loyalty from customers and attract employees who identify with and support those values. You can develop greater brand meaning through targeted marketing, word of mouth and positive direct customer experience. STEPS TO BUILD BRAND EQUITY • Step 3 – Response: Reshape How Customers Think and Feel about Your Brand. Customers respond to your brand through judgments and feelings. Judgments relate to things like quality, credibility, how relevant your product is to customer needs, and whether your brand is superior to those of your competitors. Positive feelings could include warmth, fun, excitement, security, social approval and self-respect. STEPS TO BUILD BRAND EQUITY • Step 4 – Relationships: Build a Deeper Bond With Customers. The most powerful – and difficult to attain – level in the brand equity pyramid is resonance. This refers to building deeper customer relationships. Achieving this means that your customers have formed a deep psychological bond with your brand. STEPS TO BUILD BRAND EQUITY • Step 4 – Relationships: Build a Deeper Bond With Customers. They make repeat purchases and they feel an attachment to your brand or product. They might feel a sense of community with other consumers and company representatives. And they can be actively engaged as brand ambassadors by taking part in online chats, attending events or following your brand on social media, such as Twitter or Facebook. That brand equity connection can be tremendously valuable. HOW TO MEASURE BRAND EQUITY?
• Brand equity can seem like and abstract
concept that is difficult to measure or quantify. Depending on the goals of your branding efforts, there are multiple methods that can be used to measure equity through brand tracking efforts. HOW TO MEASURE BRAND EQUITY?
• Brand tracking not only provides an
understanding of a brand campaign’s ROI, but can help to measure awareness, association, and more. These studies focus on either business impact metrics - retention, conversions, price - or consumer impact metrics such as consumer research, sentiment analysis, etc. Here are a few ways to measure goals from a branding perspective: Financial • Company Value: To measure the brand equity, you could think of the firm as an asset. When subtracting the tangible assets from the overall value of the firm, you would be left with the brand equity. • Market Share: What is your company’s market share? Leaders in the market tend to have a higher brand equity. • Revenue potential: What does the revenue potential look like for your product? How does this compare to your company’s current revenue? Product Value • A good way to measure this would be to compare a generic product with the branded product. In the case of soap, Unilever can measure if women were more likely to purchase Dove over the store brand. Additionally, you could consider what users may be prefer - for example, Coca Cola compared to Pepsi. Brand Audit • Conducting a brand audit can also help you get a better understanding of how your brand is performing. To begin a brand audit, review comparison sites, social channels, and web analytics. Pull this data together to see how consumers are talking about you and if this is inline with the vision for your brand. Brand Association - Keller’s Brand Equity Model • This model was developed by Dartmouth professor Kevin Lane Keller and emphasizes the need to mold the feeling associated with a brand’s products. By creating positive associations with your products, you can shape how customers think about your brand. Brand Association - Keller’s Brand Equity Model • The model is based on a hierarchy of brand equity that begins with a brand establishing their identity and differentiation, and is fully realized when the brand establishes resonance and connection with target consumers. Brand Association - Keller’s Brand Equity Model • By understanding where your brand is in the pyramid, you can get a better idea of how much brand equity you have, and what the next steps should be to further establishing your brand in the consumer conscious. The steps consist of: Brand Association - Keller’s Brand Equity Model Understanding Consumer Perception Although not as quantifiable, mapping consumer perception to your brand is also an important aspect of understanding brand equity. • Recall and Recognition - Do people remember your brand without a prompt (unaided brand awareness) or do they need an aide? (aided awareness). Understanding how familiar people are with your brand can help you address any gaps in the market. • Emotions Associated with the Brand - Failing to address negative emotions with your brand can be a costly mistake. Even if your brand holds a monopoly of the market, consumers who are eager to switch will do so as soon as a competitor grows into maturation.