21st Century Brand Marketing – Tracy Stokes, Principal Analyst, Forrester Research #digital12

BY: 

Dave Forde
October 26, 2012

As part of our coverage from Digital Day 2012,
Tracy Stokes, Principal Analyst at Forrester Research, Inc presented a session in which she outlined how firms can take a fresh approach to their brands. Marketers, take note on how to brand your company in the 21st Century in this session entitled “21st Century Brand Marketing”.

  • Consumers media landscape is changing
  • New “media” are mass media
  • Consumers embrace multiple media choices
  • In the US, adults spend 12 hours/week online
  • Online media consumption has reached critical mass across mainstream media
  • Multitasking divides consumers attention
  • Participation on social sites is growing rapidly

TV will go digital in the next 3-5 years

  • What does this mean for marketers?
  • Welcome to the age of the customer
  • Sources of competitive advantage change over time

Where consumers are taking brands?

  • The pillars of brand equity are crumbling
    • Credibility
    • Leadership
    • Uniqueness
    • Relevance

Credibility

  • Brand pride (drives referral, word of mouth)

Leadership

  • Societal contributions drives pricing power

Uniqueness

  • Special experiences drives pricing power
  • Special experiences are more likely to pay a premium

Relevance

  • Creating indispensable value drives preference
  • Brands have a steeper hill to climb

How to Guide your brand in the 21st century? Marketers must chart a new course for brands

Brand North Star

  • All brands are guided by this
  • You must pinpoint your brands North Star
    • Examples: Oreo – celebrating childhood
    • Mercedes – status, the best
  • Your brands North Star must be:
    • Honest
    • Strategic
    • Inspirational
    • Concise

Brand Map

  • Throw out your old brand map
  • Update your brand experience map
  • Actions – define how your brand interacts with the world
  • Products – align and augment with actions

Brand Compass – Navigation

  • Forrester’s Brand Compass
  • Trusted – transparent and accountable (ex. Patagonia)
  • Remarkable – disrupt the market (ex. Secret-empowering women to be fearless)
  • Unmistakable – ex. IBM, smart planet campaign
  • Essential – ex. Tesco, virtual grocery store

In Summary:

  • Define North Star – in 7 words or less
  • Brand Map
    • Action
    • Product
    • Messages
  • Brand Compass

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Dave Forde


Dave “The Connector” Forde has been involved in the marketing, public relations and technology industry across Canada for over 20 years in various sales and marketing roles, he launched The Connected One network of business sites which connects buyers to the right sellers. Profectio and PR In Canada covers news about the marketing and public relations industry each day helping professionals advance their career and businesses. He also serves as an advisor to a number of businesses across the country. Find Dave on LinkedIn and Twitter.


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