Description
Mind to Mind Marketing.It covers NLP mind model, online relationships, left brain positioning and right brain positioning
INTRODUCTION
Emerging trends in Marketing: 1) Relationship marketing. 2) Mass customization 3) Information Technology 4) Goods to Services The Biggest Change will concern MIND- seller, buyer, communication. The malaise: Loss of relationship between buyer and seller- Mass Marketing, Direct Marketing
INTRODUCTION
Customer relationship strategy: 1) Two way communication has to be established. 2) Its long term strategy 3) Understand how your customer behaves. 4) Listen carefully. 5) Walk the talk. Future is “One to One”- ‘As a man thinketh, so is he’ It involves getting to know, each customer with a view to a long term, mutually beneficial relationship. -Psychographic Characteristics to apply to individuals, -Methods to obtain and manage information. In Mind to Mind Relationship between marketer and customer, customer is the sum of her thoughts, feelings, attitudes, and aspirations, rather than just the sum of her historical buying behavior. Tools Available: Mind models and meta programs
INTRODUCTION
Marketing at Cross Roads: Defects in Reactionary Marketing- Staff Attitudes, Staff Empowerment, Internal Vs External Dilemma. Macro Trends globally- A shrinking day, Connectedness, Body and soul, Individualism. Marketing Myths- Sellers with attitude, Customer first smiles, Sound bite rating, Customer with feelings, Rise and Fall of marketing function.
THE CUSTOMER IN MIND
THE NLP MIND MODEL
“…the study of the structure of subjective experience.”
1. NLP presuppositions Useful principles of Neuro- Linguistic Programming •The map is not the territory Map refers to individual’s perception of reality through which we make sense of the world. •You cannot not communicate Even silence communicates. All we can do is manage perceptions that form. •The responsibility for a communication is with the communicator Its the marketers job to make sure the customer understands the message. 2. Communication ground rules •Understand customer’s map •Establish a ‘Mental Bridge’ with the customers •Communicate consciously and positively to avoid wrong perception.
3. Subjective experience • When two people have the same stimulus, why don't they have the same response? • The filters we use are, •Meta Programs, •belief systems, •values, •decisions, and • memories.
5. Meta program segmentation Changing the Meta programs is the hard way rather try to understand and respond to them • Classification approaches Classify customers according to how they think rather than on basis of age, income etc. Meta program comparisons (right-brain) thinker? Are we giving our customers enough visual and auditory messages? Some customers feel uncertain to buy unless they have touched and felt the product themselves. Risk Taker Vs. “Tried & Tested”
•
Are we targeting the logical (left-brain) thinker or the intuitive
Online Relationships
• E-businesses edging out high street businesses
• Lesser traditions and infrastructure • E commerce division of existing corporations e.g.. Ford, GE, DELL • Symbiotic relationship between customers and Suppliers • Inherent activity of online commerce forms basis of long term customer relationships • Expansion of meaning of “Shopping” • Success – Technology – Strong internet presence – Good service • ‘Yield Management’ and ‘Automated Purchasing’ – New Developments in Cyberspace • Customers like personalization on Web sites • To provide personal information if privacy is protected
Business of Customer Relationships
• Three kinds of businesses with unique role • Customer Relationship business • Product Innovation Business • Infrastructure Business Objectives of each kind of business are never identical Cannot reconcile scope, speed and scale in a single business entity Supplier Partnerships e.g. Yahoo and Inktomi Infomediaries Survey of e-business executives revealed following concerns: • Understand profiles of their MVC • Value of e-marketing vs. traditional marketing • Relevant offers for a customer segment ‘Drip Irrigation’ Data gathering CRM - reminded how marketing is to be done with customer at centre
• • • • •
• •
Acid Marketing Tests
• • • • • • • • • • Do you create a flow of potential customers? Branding of the product Is it a give and take relationship? Are you different? Have you a strong hold on market place? Do you keep customers? Customer Loyalty – shifting focus from customer acquisition to customer retention Difficult to predict customer loyalty with demographic status and transaction history Psychographic Information and mind to mind relationship needed Key objective : understand the customer, not his loyalty
Creating Relationships
•
Product development is prioritized according to customer’s needs
and fashion • Mass customization is a means of bringing customers into the new product decision process. • Instances- Customized radios, roses, tires, online customization
Customer Profitability
• LVC (Lifetime Value of Customer)- companies focus more on customer share than market share. • • • • It includes indirect referrals resulting from loyal customers. Adopting client potential model to measure ‘growability’ of certain customers. Developing Brand Equity and B2B Loyalty. Profitability per customer can be studied by evaluating questions like who are high value customers, relationship between frequency of purchase and profitability, how to promote low value customers to mid-value or high value customers.
Interactivity
• Helps in successful customer understanding and embracing sellercustomer communication process. • Helps in giving database extra meaning and value through interactive advertising, interactive information and multi channel interactivity.
Database Technology
• Helps in identifying specific customers or prospects, communicating with them, capturing meaningful information and using them to further build the relationship. • Companies can now monitor who has purchased their products, and those of competitors, thus getting detailed pictures of how individuals and families live, and how they perceive their products and the company. • • • This forms a basis of successful mind to mind marketing. Creation of affinity groups for like minded and similar interest’s people. Using Recommendation software and online Neural Networks, as examples of Collaborative filtering for reading Customer’s minds.
Direct Marketing
• It combines database management with one or more media to achieve a transaction or another type of customer response. • It’s more expensive than ordinary advertising in terms of customer contact but can be very effective in profit-per-customer terms. • It involves world wide web, e-mail, loyalty and club cards, telesales and interactive cable television. • Forms a sound basis for relationship marketing
.
Appealing to both Heart & Mind
The aim of marketing should be not only to gain mind share but also heart share. • Left Brain:- Thinking that is conscious, logical or rational, and amenable to parts rather than holistic. •Right Brain:- Thinking that is related to instinct, intuition, feeling and creativity. Jumps to conclusions without intermediate steps. Marketing opportunity:- A balanced message which appeals to both left and right brain equally has got more chances to succeed. Risk involved:- Misdirected or non-directed promotion result in wasted advertising expenditure and lower sales.
Left Brain Positioning Strategies
• • It is use more frequently because surveys are untreatably addressed to conscious mind. Strategies – Justifiers:- Good marketing helps them answer the question ‘ why should I buy it?’ or, better still, ‘Why should I buy it now?’ – Features and attributes:- In market crowded with competition clear message should reach to customer what are the features and attributes of product, separate it from competition. – Benefits received:-benefits are pleasurable or advantageous in some way. They appeal to emotion more than features and more customer than product oriented. – Usage, occasion or time of use:- once a product becomes part of a habit, a person will unconsciously justify it ( along with the habit it self)
Right Brain Strategies
• • Most consumer decisions are based on emotion rather than logic. Strategies – Sensory:- Sensory appeal is a fundamental rule in influencing the perception of customers. This is primarily a right-brain phenomenon. – Aspiration:- Our buying does not reflect what or who we are, but what or who we would like to be. – Cause:- A calling for a higher cause can overpower the strongest reasoning, and dictate buying behaviors. – Belonging:- All human beings have a need to belong and this too is associated more with right than the left brain. – Family:- Family emotions are powerful marketing hot buttons, and illustrate the scope for two-brain approach.
Making sense Of communication
• • Sensory preference:- visual, audio, kinesthetic For the purpose of classifying customers, we can rely on sensory preference as a reasonably stable characteristic. By identifying and using the customer’s preferred representational system we begin in effect to speak their language and create rapport.
•
•
Identifying and using sensory preference:– This brings us two major practical issues. First how to identify your customer’s sensory preference? And second, how best to use this information to maximize your marketing communications and built up a long-term relationship. – use the known distribution of sensory preference weighing your message accordingly. The cost of mismatch:- The benefits of communicating in the right thinking style are not immediately obvious. - Mismatches are not just ignored. People can actually be annoyed if your message does not make sense to them.
•
Keys to Customer Mind
• Mind
to Mind segmentation can be based on physiological, sensory and cognitive features of customer’s mind. • Customer’s experience can be structured into discrete Meta Programs to understand customers. • Various personality characteristics can be studied through these Meta Programs like tolerant, easy going, experimenting, seeing details, a follower rather than a leader, right or left brain dominant etc. • Unlike one to one marketing, modal characteristics need to considered as market segments.
Internal-External Reference
• Each customer falls into this spectrum based on getting motivated differently.
•
According to implicit hope of receiving praise and recognition: such people need constant feedback or recognition to carry tasks or make decisions.
•
According to implicit pleasure in a job they feel they have done well: such people are self motivated.
Eliciting Internal-External Characteristics and related marketing message
• • • • • • Meta Programs are related to some aspects of life, behavior or values, our thought and action. Valuing and respecting other people, being mindful of their opinions and feelings suggest and externally focused person. Values concerning leadership, independence, single mindedness suggest internally focused person. Such characteristics help in determining Mind to Mind relationship strategy. These help in determining the buying decisions of customers: Externally motivated depend on others for making decisions while Internally motivated making their own. Advertisers mostly appeal to externally referenced people, thus reflecting a tendency dominant in advertising executives themselves.
Risk Taker/ Conservative
• • This Meta Program categorizes customers as experimenting and conservative. Experimenting customers always try out for new avenues, want change and are not brand loyal however reliable that brand may be. Conservative customers test things before commitment, need accreditation and reference before trying themselves. Conservatives are Brand loyal, but not guinea pigs. Such understanding creates perceptions of customers thus determines how the customers tick, thus better relating to customers.
•
• •
Towards or Away from
• • • • • One’s Man pleasure is other Man’s pain. One person looks forward to pleasure, other looks behind to the pain. For instance, people respond to what they do not want, than what they want. Such people can be recognized as ‘away from’ people. First person relish the possible pleasure while the other avoid the possible pain rather than thinking of pleasure. Marketing strategies need to be based on these to address such categories of customers.
Matcher or Mismatcher
• • • • People sort out facts and information in different ways Some people sort in terms of what things have in common or the generalities and the commonalities: Matcher. Some people notice differences and exceptions, thus thinking in specifics and details: Mismatcher. Either way of thinking leads to personalized marketing message- emphasizing both on what is same and what is different.
Possibility or Necessity
• • • “Necessity” types will often accept rule and authority figures “Possibility” types tend to act more independently. To communicate with “Necessity” person no real authority is required, they do the work for you. Language like should, must, necessary, ought, etc should be used For “Possibility” person, communication with “you can” language would appeal.
• •
Personality Profiles
• • • • Used increasingly for conventional market segmentation in addition to basic demographic data. Myers Briggs Type Indicator used for personality test classifies personality types into: introvert-extrovert, sensing-intuitive, thinking-feeling, judging-perceiving. Psychographic segmentation like Lifestyle Clustering, helps in determining purchasing behavior of customers. Finds god application in Mass marketing not one to one marketing.
Psychographic Profiles
• • • • VALS- classifies into three psychographic profiles: Principle Oriented, Status Oriented, Action Oriented. PAD- based on emotional states, classifies into pleasure-displeasure, arousal-non arousal, dominance-submissiveness COLOUR- Classified based on colour as Colour Forward, Colour Prudents, Colour Loyals. BENEFIT SEGMENTATION- classifies into worriers, sociables, sensory segment, independent segment.
Creating a Corporate “Personality”
• Underlying Theme – Customers respond positively to organizations and people they deem to be ‘like’ themselves Using a corporate “Personality”, one can – Emulate personality type of chosen customer segments and create rapport – Attract ‘like’ customers – Change one’s personality to make it more attractive to customers
•
Corporate Branding
• • • • Corporate Image of companies like IBM, Marks & Spencer, British Airways and Virgin Group Effects of individual personalities like Richard Branson (Virgin Group), Fred Smith (FedEx), Lord Sieff (Marks & Spencer) Corporate Personality has to be strategically managed over the long term The more the emotion, the greater the potential for a strong personality but the greater the risk of losing customers. E.g. British Airways and Coke
Corporate Branding
• “Faceless institutions don’t do well in marketing league tables while human-type relationships can evoke strong emotions” “Corporations can be forgiven for not fitting every type of customer but not for living a lie”
•
Merging Minds
• Organization comprises many individuals who portray different attitude and personality ‘Live out’ the characteristics that need to be communicated to the external world Have a unifying mission and vision to create a corporate culture and personality
•
•
Case for Corporate Personality
• • • • Creating perceived ‘likeness’ Create a true personality to differentiate from competition Attracting and keeping the best employees Creating pathways to the customer’s mind to assist promotion and relationships
Creating a true personality
• • No one can fake a true personality Corporate Behavior – Perceived Personality – Promotions and campaigns – Glossy advertising – Consistency of logos, design – Community Projects – Promises not delivered – Good customer service Unsophisticated Snobbish, Rich Reliable Sensitive Cheat Caring
•
A company not having a personality is perceived as “boring”
Pathways to the customer’s mind
• Conventional marketing is more directed at boosting short-term sales or product brand awareness and rarely on creating brand awareness Advertising has to be consistent with personality Individual product brands can be linked to a corporate brand Using people can help a company’s brand but should be used with caution E.g.. KFC’s Colonel Sanders and Michael Jackson People sometimes unconsciously associate a company with the organization. E.g. Bill gates
• • •
•
Pathways to the customer’s mind (Contd.)
• Personality Power in metaphors – What if the company were a car/book/animal/movie/pace, etc? Mission and Values – E.g. Intel’s six sigma principles known for risk taking, quality, discipline, customer orientation, etc
•
Creating a corporate personality
• Determine the present personality – Ask Customers, Members of public, suppliers and staff If happy with the results, enhance and communicate the personality If not, make changes or create a new one Use the metaphor route
• • •
THANK YOU
doc_310222988.ppt
Mind to Mind Marketing.It covers NLP mind model, online relationships, left brain positioning and right brain positioning
INTRODUCTION
Emerging trends in Marketing: 1) Relationship marketing. 2) Mass customization 3) Information Technology 4) Goods to Services The Biggest Change will concern MIND- seller, buyer, communication. The malaise: Loss of relationship between buyer and seller- Mass Marketing, Direct Marketing
INTRODUCTION
Customer relationship strategy: 1) Two way communication has to be established. 2) Its long term strategy 3) Understand how your customer behaves. 4) Listen carefully. 5) Walk the talk. Future is “One to One”- ‘As a man thinketh, so is he’ It involves getting to know, each customer with a view to a long term, mutually beneficial relationship. -Psychographic Characteristics to apply to individuals, -Methods to obtain and manage information. In Mind to Mind Relationship between marketer and customer, customer is the sum of her thoughts, feelings, attitudes, and aspirations, rather than just the sum of her historical buying behavior. Tools Available: Mind models and meta programs
INTRODUCTION
Marketing at Cross Roads: Defects in Reactionary Marketing- Staff Attitudes, Staff Empowerment, Internal Vs External Dilemma. Macro Trends globally- A shrinking day, Connectedness, Body and soul, Individualism. Marketing Myths- Sellers with attitude, Customer first smiles, Sound bite rating, Customer with feelings, Rise and Fall of marketing function.
THE CUSTOMER IN MIND
THE NLP MIND MODEL
“…the study of the structure of subjective experience.”
1. NLP presuppositions Useful principles of Neuro- Linguistic Programming •The map is not the territory Map refers to individual’s perception of reality through which we make sense of the world. •You cannot not communicate Even silence communicates. All we can do is manage perceptions that form. •The responsibility for a communication is with the communicator Its the marketers job to make sure the customer understands the message. 2. Communication ground rules •Understand customer’s map •Establish a ‘Mental Bridge’ with the customers •Communicate consciously and positively to avoid wrong perception.
3. Subjective experience • When two people have the same stimulus, why don't they have the same response? • The filters we use are, •Meta Programs, •belief systems, •values, •decisions, and • memories.
5. Meta program segmentation Changing the Meta programs is the hard way rather try to understand and respond to them • Classification approaches Classify customers according to how they think rather than on basis of age, income etc. Meta program comparisons (right-brain) thinker? Are we giving our customers enough visual and auditory messages? Some customers feel uncertain to buy unless they have touched and felt the product themselves. Risk Taker Vs. “Tried & Tested”
•
Are we targeting the logical (left-brain) thinker or the intuitive
Online Relationships
• E-businesses edging out high street businesses
• Lesser traditions and infrastructure • E commerce division of existing corporations e.g.. Ford, GE, DELL • Symbiotic relationship between customers and Suppliers • Inherent activity of online commerce forms basis of long term customer relationships • Expansion of meaning of “Shopping” • Success – Technology – Strong internet presence – Good service • ‘Yield Management’ and ‘Automated Purchasing’ – New Developments in Cyberspace • Customers like personalization on Web sites • To provide personal information if privacy is protected
Business of Customer Relationships
• Three kinds of businesses with unique role • Customer Relationship business • Product Innovation Business • Infrastructure Business Objectives of each kind of business are never identical Cannot reconcile scope, speed and scale in a single business entity Supplier Partnerships e.g. Yahoo and Inktomi Infomediaries Survey of e-business executives revealed following concerns: • Understand profiles of their MVC • Value of e-marketing vs. traditional marketing • Relevant offers for a customer segment ‘Drip Irrigation’ Data gathering CRM - reminded how marketing is to be done with customer at centre
• • • • •
• •
Acid Marketing Tests
• • • • • • • • • • Do you create a flow of potential customers? Branding of the product Is it a give and take relationship? Are you different? Have you a strong hold on market place? Do you keep customers? Customer Loyalty – shifting focus from customer acquisition to customer retention Difficult to predict customer loyalty with demographic status and transaction history Psychographic Information and mind to mind relationship needed Key objective : understand the customer, not his loyalty
Creating Relationships
•
Product development is prioritized according to customer’s needs
and fashion • Mass customization is a means of bringing customers into the new product decision process. • Instances- Customized radios, roses, tires, online customization
Customer Profitability
• LVC (Lifetime Value of Customer)- companies focus more on customer share than market share. • • • • It includes indirect referrals resulting from loyal customers. Adopting client potential model to measure ‘growability’ of certain customers. Developing Brand Equity and B2B Loyalty. Profitability per customer can be studied by evaluating questions like who are high value customers, relationship between frequency of purchase and profitability, how to promote low value customers to mid-value or high value customers.
Interactivity
• Helps in successful customer understanding and embracing sellercustomer communication process. • Helps in giving database extra meaning and value through interactive advertising, interactive information and multi channel interactivity.
Database Technology
• Helps in identifying specific customers or prospects, communicating with them, capturing meaningful information and using them to further build the relationship. • Companies can now monitor who has purchased their products, and those of competitors, thus getting detailed pictures of how individuals and families live, and how they perceive their products and the company. • • • This forms a basis of successful mind to mind marketing. Creation of affinity groups for like minded and similar interest’s people. Using Recommendation software and online Neural Networks, as examples of Collaborative filtering for reading Customer’s minds.
Direct Marketing
• It combines database management with one or more media to achieve a transaction or another type of customer response. • It’s more expensive than ordinary advertising in terms of customer contact but can be very effective in profit-per-customer terms. • It involves world wide web, e-mail, loyalty and club cards, telesales and interactive cable television. • Forms a sound basis for relationship marketing
.
Appealing to both Heart & Mind
The aim of marketing should be not only to gain mind share but also heart share. • Left Brain:- Thinking that is conscious, logical or rational, and amenable to parts rather than holistic. •Right Brain:- Thinking that is related to instinct, intuition, feeling and creativity. Jumps to conclusions without intermediate steps. Marketing opportunity:- A balanced message which appeals to both left and right brain equally has got more chances to succeed. Risk involved:- Misdirected or non-directed promotion result in wasted advertising expenditure and lower sales.
Left Brain Positioning Strategies
• • It is use more frequently because surveys are untreatably addressed to conscious mind. Strategies – Justifiers:- Good marketing helps them answer the question ‘ why should I buy it?’ or, better still, ‘Why should I buy it now?’ – Features and attributes:- In market crowded with competition clear message should reach to customer what are the features and attributes of product, separate it from competition. – Benefits received:-benefits are pleasurable or advantageous in some way. They appeal to emotion more than features and more customer than product oriented. – Usage, occasion or time of use:- once a product becomes part of a habit, a person will unconsciously justify it ( along with the habit it self)
Right Brain Strategies
• • Most consumer decisions are based on emotion rather than logic. Strategies – Sensory:- Sensory appeal is a fundamental rule in influencing the perception of customers. This is primarily a right-brain phenomenon. – Aspiration:- Our buying does not reflect what or who we are, but what or who we would like to be. – Cause:- A calling for a higher cause can overpower the strongest reasoning, and dictate buying behaviors. – Belonging:- All human beings have a need to belong and this too is associated more with right than the left brain. – Family:- Family emotions are powerful marketing hot buttons, and illustrate the scope for two-brain approach.
Making sense Of communication
• • Sensory preference:- visual, audio, kinesthetic For the purpose of classifying customers, we can rely on sensory preference as a reasonably stable characteristic. By identifying and using the customer’s preferred representational system we begin in effect to speak their language and create rapport.
•
•
Identifying and using sensory preference:– This brings us two major practical issues. First how to identify your customer’s sensory preference? And second, how best to use this information to maximize your marketing communications and built up a long-term relationship. – use the known distribution of sensory preference weighing your message accordingly. The cost of mismatch:- The benefits of communicating in the right thinking style are not immediately obvious. - Mismatches are not just ignored. People can actually be annoyed if your message does not make sense to them.
•
Keys to Customer Mind
• Mind
to Mind segmentation can be based on physiological, sensory and cognitive features of customer’s mind. • Customer’s experience can be structured into discrete Meta Programs to understand customers. • Various personality characteristics can be studied through these Meta Programs like tolerant, easy going, experimenting, seeing details, a follower rather than a leader, right or left brain dominant etc. • Unlike one to one marketing, modal characteristics need to considered as market segments.
Internal-External Reference
• Each customer falls into this spectrum based on getting motivated differently.
•
According to implicit hope of receiving praise and recognition: such people need constant feedback or recognition to carry tasks or make decisions.
•
According to implicit pleasure in a job they feel they have done well: such people are self motivated.
Eliciting Internal-External Characteristics and related marketing message
• • • • • • Meta Programs are related to some aspects of life, behavior or values, our thought and action. Valuing and respecting other people, being mindful of their opinions and feelings suggest and externally focused person. Values concerning leadership, independence, single mindedness suggest internally focused person. Such characteristics help in determining Mind to Mind relationship strategy. These help in determining the buying decisions of customers: Externally motivated depend on others for making decisions while Internally motivated making their own. Advertisers mostly appeal to externally referenced people, thus reflecting a tendency dominant in advertising executives themselves.
Risk Taker/ Conservative
• • This Meta Program categorizes customers as experimenting and conservative. Experimenting customers always try out for new avenues, want change and are not brand loyal however reliable that brand may be. Conservative customers test things before commitment, need accreditation and reference before trying themselves. Conservatives are Brand loyal, but not guinea pigs. Such understanding creates perceptions of customers thus determines how the customers tick, thus better relating to customers.
•
• •
Towards or Away from
• • • • • One’s Man pleasure is other Man’s pain. One person looks forward to pleasure, other looks behind to the pain. For instance, people respond to what they do not want, than what they want. Such people can be recognized as ‘away from’ people. First person relish the possible pleasure while the other avoid the possible pain rather than thinking of pleasure. Marketing strategies need to be based on these to address such categories of customers.
Matcher or Mismatcher
• • • • People sort out facts and information in different ways Some people sort in terms of what things have in common or the generalities and the commonalities: Matcher. Some people notice differences and exceptions, thus thinking in specifics and details: Mismatcher. Either way of thinking leads to personalized marketing message- emphasizing both on what is same and what is different.
Possibility or Necessity
• • • “Necessity” types will often accept rule and authority figures “Possibility” types tend to act more independently. To communicate with “Necessity” person no real authority is required, they do the work for you. Language like should, must, necessary, ought, etc should be used For “Possibility” person, communication with “you can” language would appeal.
• •
Personality Profiles
• • • • Used increasingly for conventional market segmentation in addition to basic demographic data. Myers Briggs Type Indicator used for personality test classifies personality types into: introvert-extrovert, sensing-intuitive, thinking-feeling, judging-perceiving. Psychographic segmentation like Lifestyle Clustering, helps in determining purchasing behavior of customers. Finds god application in Mass marketing not one to one marketing.
Psychographic Profiles
• • • • VALS- classifies into three psychographic profiles: Principle Oriented, Status Oriented, Action Oriented. PAD- based on emotional states, classifies into pleasure-displeasure, arousal-non arousal, dominance-submissiveness COLOUR- Classified based on colour as Colour Forward, Colour Prudents, Colour Loyals. BENEFIT SEGMENTATION- classifies into worriers, sociables, sensory segment, independent segment.
Creating a Corporate “Personality”
• Underlying Theme – Customers respond positively to organizations and people they deem to be ‘like’ themselves Using a corporate “Personality”, one can – Emulate personality type of chosen customer segments and create rapport – Attract ‘like’ customers – Change one’s personality to make it more attractive to customers
•
Corporate Branding
• • • • Corporate Image of companies like IBM, Marks & Spencer, British Airways and Virgin Group Effects of individual personalities like Richard Branson (Virgin Group), Fred Smith (FedEx), Lord Sieff (Marks & Spencer) Corporate Personality has to be strategically managed over the long term The more the emotion, the greater the potential for a strong personality but the greater the risk of losing customers. E.g. British Airways and Coke
Corporate Branding
• “Faceless institutions don’t do well in marketing league tables while human-type relationships can evoke strong emotions” “Corporations can be forgiven for not fitting every type of customer but not for living a lie”
•
Merging Minds
• Organization comprises many individuals who portray different attitude and personality ‘Live out’ the characteristics that need to be communicated to the external world Have a unifying mission and vision to create a corporate culture and personality
•
•
Case for Corporate Personality
• • • • Creating perceived ‘likeness’ Create a true personality to differentiate from competition Attracting and keeping the best employees Creating pathways to the customer’s mind to assist promotion and relationships
Creating a true personality
• • No one can fake a true personality Corporate Behavior – Perceived Personality – Promotions and campaigns – Glossy advertising – Consistency of logos, design – Community Projects – Promises not delivered – Good customer service Unsophisticated Snobbish, Rich Reliable Sensitive Cheat Caring
•
A company not having a personality is perceived as “boring”
Pathways to the customer’s mind
• Conventional marketing is more directed at boosting short-term sales or product brand awareness and rarely on creating brand awareness Advertising has to be consistent with personality Individual product brands can be linked to a corporate brand Using people can help a company’s brand but should be used with caution E.g.. KFC’s Colonel Sanders and Michael Jackson People sometimes unconsciously associate a company with the organization. E.g. Bill gates
• • •
•
Pathways to the customer’s mind (Contd.)
• Personality Power in metaphors – What if the company were a car/book/animal/movie/pace, etc? Mission and Values – E.g. Intel’s six sigma principles known for risk taking, quality, discipline, customer orientation, etc
•
Creating a corporate personality
• Determine the present personality – Ask Customers, Members of public, suppliers and staff If happy with the results, enhance and communicate the personality If not, make changes or create a new one Use the metaphor route
• • •
THANK YOU
doc_310222988.ppt