The 4 P’s
Most of us started learning about marketing by looking at the 4 P’s: Product, Price, Promotion and Place. While I’ve seen people adding P’s, a fifth one and even have seen up to eight P’s. I guess it’s a fairly easy way to teach marketing. It’s an OK way to learn, but it seems to treat marketing like an activity and not really a strategy. The 4 Ps are obsessed with what you do, and start you on the path of always thinking about YOU YOU YOU! The 4 P’s almost ignore the consumer. Over my 20 years, I learned that the only source of revenue was the consumer, not the product. Sure, we sell the product. Or, better yet, someone buys our brand. It’s just about mindset of how you wish to run your brand. I believe that everything had to start and end with the consumer in mind. We will show you below how we start with the consumer and map out the 5 touch-points of consumer connectivity–the promise, brand story, innovation, purchase moment and brand experience.
The natural evolution of brands
It’s true that most brands do start off as a product or service that helps to address some type of problem the consumer has in their lives. Early on it’s about a selling activity where you push your brand onto the target market and hope they buy. As the brand evolves, you start to establish an identity for the brand that gets well-known, you start narrowing what you’re naturally best at down to a promise and begin executing and building your experience around the promise. As you keep evolving, the Brand starts to shift towards becoming an Idea that helps solve the consumer’s emotional problems.
- Apple is not just a computer or cell phone. It’s based on an idea of “simplicity that deals with the frustration over technology”.
- Dove is not just a soap or hand cream, but all about the idea of “real beauty that allows women to feel comfortable with who they are”.
- Starbucks is not just a coffee and pastries, but an “escape from a hectic day”
While a lot of the Beloved Brands have taken 20 years or even 90 years to earn their status, you can advance your brand faster by starting off as an idea. It becomes less about product and more about the big idea from day 1. It becomes less about hopeful tactics and more about insightful strategy. You’ll be able to build around the idea rather than getting stuck in the constraints of what your product does. An idea helps you connect with consumers and that connection gives your brand added power, and the power can be used to drive higher growth and profits.
A Beloved Brand is based on an idea that’s worth loving.
The 5 touch-points of consumer connectivity
The biggest problem I have with the 4 P’s is that it builds the brand from your the vantage point of the company, not the vantage of the consumer who actually matters the most. I would rather start with the consumer and then build your brand, based on a promise that motivates consumers, a brand story that engages consumers, an innovation plan that keeps the consumer connected, mapping out what the consumer goes through to the purchase moment and building a consumer experience that helps the brand connect with their consumers.
When we think of the most beloved brands–Starbucks, Apple, Ferrari, Disney, Nike or Mercedes–it’s really hard to figure out the ONE part of the brand that really makes it great. For example on Apple, I have heard: “Apple has the best products” or “they have the best ads” or “it’s actually the experience”. At Beloved Brands, we believe you need 5 magic moments that a brand must deliver at an extremely high degree in order to become a beloved brand:
- Brand Promise
- Brand Story
- Purchase Moment
- Brand Promise: Create a simple brand promise that separates your brand from competitors, based on being better, different or cheaper. Try to use a brand positioning exercise to figure out your brand’s value proposition–we use a brand ladder where we map out the target definition, product features, rational benefits and emotional benefits.
- Brand Story: At Beloved Brands, we see Advertising as a tool for telling your brand story in a way that creates a bond with consumers, to establish your brand’s positioning and to drive change in your consumers behavior that leads to higher sales, share and profit. You should use your brand story to motivate consumers to think, feel or act, while beginning to own a reputation in the mind and hearts of consumers.
- Innovation: Fundamentally sound product, staying at the forefront of trends and using technology to deliver on your brand promise. The trick with innovation is keeping the serendipity of an R&D team aligned, while pushing for a balance of blue ocean against straying within the perimeters of the brand strategy. New products have to meet consumer needs and many times creating a consumer need they didn’t even know they had.
- Purchase Moment: As consumers get near the purchase, there becomes this “moment of truth” when they have to make the final decision to buy. How we manage that, is we use a buying system to map out how consumers move through the purchase cycle and use channels, messaging, processes to make the final decision.
- Experience: Turn the usage of your product into an experience that becomes a ritual and favorite part of their day. One of the best brand experiences is Starbucks, providing consumers with more than just coffee, but rather an escape from daily grind a hectic life. At Starbucks, you find that little moment between home life and work life, a cool atmosphere indie music and leather chairs, a barista that knows your name and your drink, you can order in Italian and one of the best things they manage to indirectly achieve–no screaming little kids.
The brand becomes more powerful when everything is aligned under a “big idea” for your brand. In today’s crowded media world, consumers now see 6,000 brand messages every day. They have to quickly sort through those messages, rejecting most and only engaging in a few each day. It’s those brands who can communicate in a headline style idea will grab the consumers attention.
Once you establish that big idea, you can align each of the 5 magic moments underneath that big idea.
Using the Big Idea map above, we can see the promise comes from the brand positioning, the brand story is told through advertising, the innovation is driven by R&D, the purchase moment is a combination of your sales team and your distribution strategy while the experience comes directly from how you manage the operations and culture of your organization. As you can start to see, everyone and every activity should be driven by the Big Idea. To show you how to use the Big Idea map, here’s the example using the Apple brand, showing how they align behind everything linked to the big idea of “simplicity”.
The most beloved brands are strong on all of the 5 touch-points of consumer connectivity
Here’s a presentation on what makes a Beloved Brand:
Beloved Brands: Who are we?
At Beloved Brands, we promise that we will make your brand stronger and your brand leaders smarter. We can help you come up with your brand’s Brand Positioning, Big Idea and Brand Concept. We also can help create Brand Plans that everyone in your organization can follow and helps to focus your Marketing Execution. We provide a new way to look at Brand Management, that uses a provocative approach to align your brand to the sound fundamentals of brand management.
We will make your team of Brand Leaders smarter so they can produce exceptional work that drives stronger brand results. We offer brand training on every subject in marketing, related to strategic thinking, analytics, brand planning, positioning, creative briefs, customer marketing and marketing execution.
To contact us, email us at firstname.lastname@example.org or call us at 416-885-3911. You can also find us on Twitter @belovedbrands.