Three Elements That Shape Brand Development

  1. Understanding your stakeholders
  2. Considering the mechanics of delivery
  3. Adopting a data-driven approach

1. Understanding Your Stakeholders

Empathy is insightful and provides a solid foundation for building relevant brand experiences. Profiling key stakeholders keeps them center stage and provides a powerful platform for building relevant brand experiences. The days of focusing on customers and talking at them have long gone. Relevant brands engage with stakeholders via the experiences they build. Familiarizing yourself with your stakeholders, not just customers, is an important part of the brand experience environment. Once you know who your stakeholders are, where they go, what ‘jobs’ they need to get done, how you can engage with them and are realistic about what you can deliver, you’ll be well placed to build experiences that are more relevant to them.

2. Considering The Mechanics Of Delivery

The decisions humans make are primarily influenced by the emotions we feel that are associated with a memory. So if your brand carry’s no emotion it’s not playing a tune the human brain will be receptive to. Research shows the positive influence emotional rather than rational content has on brand favorability while another study showed the profitability of ads with purely emotional content was approximately twice those with only rational content. Emotion also plays a powerful role in B2B markets with IBM, GE and Caterpillar leading the way. B2B markets are characterized by complex, high-risk, high-value and long-term investments. This means experiences that mitigate risk, provide security, reassure, give peace of mind and enhance personal or organizational reputation are relevant. Irrespective of the market you operate in you need to understand how you want to make your stakeholders feel then build experiences that help you do that.

3. Adopting A Data-Driven Approach

Insight, not anecdote, needs to drive the brand experience building decisions you make. The perceived objectivity of numbers means they tend to talk in the boardroom but informed executives obtain qualitative and quantitative insights to shape the experiences they build. This compensates for each approach’s weaknesses, provides a more rounded perspective and robust results, as you’ll be embracing multiple prongs of attack. Brands tend to focus on financial metrics because money talks in the boardroom. Understandable but not always advisable. Financial metrics are retrospective, have short-term horizons and account for only part of the brand experience measurement puzzle. It’s better to adopt a holistic approach to measuring brand experiences that spans employee, brand and financial metrics. Research shows employee and brand metrics drive financial performance so measuring all three delivers powerful cause-and-effect insights.

Branding Strategy Insider
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