Learn how to use Porter’s 5 Forces to assess your company’s marketplace viability and learn where the power lies between you and your customers
Porter’s 5 Forces is an analytical model that helps marketers and business managers look at the ‘balance of power’ in a market between different organizations on a global level, and to analyze the attractiveness and potential profitability of an industry sector.
[si_guide_block id="29978" title="Download our Premium Resource – Essential marketing models" description="In our free, illustrated guide to 10 classic planning models diagrams we explain what they are and give examples of why and how to apply them in business."/]
What are Porter’s 5 Forces?
Threat of substitute products
Bargaining power of buyers
Threat of new entrants
Bargaining power of suppliers
How do Porter’s 5 Forces work?
The first aspect to analyze is the amount of competition your…
Insights, tips and advice on personal branding from Rita Clifton CBE
For many people within the marketing world, Rita Clifton is regarded as one of the definitive ‘brand gurus’. Her authority in the field of branding is impressive, with previous roles including Vice Chairman at Saatchi & Saatchi and London CEO and Chairman of global brand consultancy Interbrand.
However, whilst Ms Clifton’s expertise has been dedicated to building corporate brands, I was interested to hear her talk recently about how these brand-building skills can be applied to ourselves.
As digital marketers, it’s becoming increasingly important to identify and exploit a point of difference. While some of us may specialize in a particular area, others may take on a broader, more overarching role. Whatever field we work in, it’s essential for us to make it clear to others what…
A brand is the face of a business, it's what the public sees when they look at your company and it's incredibly important
When it comes to understanding how to effectively market a business, it can be helpful to get back to basics. That means not only knowing what having a brand fundamentally means but also having a clear grasp of what makes a brand successful.
In this post, we’ll take a look at the essentials of branding that are easy to know intuitively but difficult to articulate, and explore why a brand is not just a synonym for "business."
What is branding?
A brand is defined as the image that a company or entity showcases in order to portray its services and core values. In essence, a brand is the face of a business. It’s what the public sees when they look up your company and what they think about when they contemplate…
If your brand logo or brand message is not connecting with your ideal consumers, the chance of brand recall in the future are slim
Branding is equivalent to telling a story, a story that resonates with your ideal buyers. Visuals form the core of this storytelling.
In other words, visual branding is the first step to building a successful brand image and developing your business. First impressions matter and this rings true even with visual branding. If your brand logo or brand message is not connecting with your ideal consumers, the chance of brand recall in the future are slim.
There are many examples of branding going haywire and the reasons can be anything - a bad logo or poor brand name or inconsistent visuals, and so on. While each brand has a different story, there are a few little design errors that every brand should avoid.
1. Creating a controversial logo
A logo is…
When your employees fail to understand your brand identity, it is nearly impossible to communicate it effectively to your consumers
Establishing a strong brand identity is like building a healthy relationship - you have to believe in yourself before anyone else can do the same. However, getting your sales team, customer service team and every other department on the same page can easily become an uphill battle. When your employees fail to understand your brand identity, it is nearly impossible to communicate it effectively to your consumers.
[si_guide_block id="109627" title="Download our Premium Resource – Brand vision and identity playbook" description="This playbook will enable you to define your branding approach. Branding expert Debbie Inglis explains a structured approach to review and define your brand identity to make it more appealing to customers."/]
To make matters worse, it only takes a single slip-up to lose your customers forever. A simple disconnect between your stated values and the…
Some of the best brands set themselves apart in their industry by coming up with creative brand names. Here’s what we can learn from them
If you don’t believe that having a good name will impact your business, maybe you should. After all, catchy names outperform long and complicated names on the stock market by 33%. Sometimes, being bold when naming a business pays off. These can be the names that stick in people’s heads and set up your business for success.
A name is an outgrowth of a business plan. The right name will support the growth of your business and can help improve your chances of becoming successful.
[si_guide_block id="109627" title="Download our Premium Resource – Brand vision and identity playbook" description="This playbook will enable you to define your approach, branding expert Debbie Inglis explains a structured approach to review and define your brand identity to make it…
Whether it’s the strategic partners, customers or employees themselves, digital branding relishes the all-encompassing feeling of a digital businesses profile
Digital Branding, as a term, has been coined as the cornerstone of modern marketing technique, where various digital channels and assets are used to communicate a brand’s positioning in the ecosystem as part of the multi-channel brand communication or engagement programmes.
The competition across nearly every industry is becoming more fierce by the minute.
For this very reason, developing an identity for your local business and devising a plan to reach out to your audience has never been more important than it is today.
Your local business no longer needs intermediaries in order to have a direct interaction with customers. With the onslaught of digital branding, a message well-delivered has the potential to impact real-life experiences that can be transmitted through multiple networks.
[si_guide_block id="109627" title="Download our Premium Resource – Brand vision and identity…
6 Keys to building a better online brand experience for your customers.
Online brand experience and customer experience is a widely discussed topic amongst brand managers and marketers, and for good reason — customers who have a better brand experience with one brand over another will naturally veer toward the brand they favour when making a purchase. It’s not rocket science.
Put simply, the customer experience includes every touchpoint between customer and company. Marketers usually break this experience into three categories: pre-purchase, purchase, and post-purchase.
These experiences extend from online forums to in-person interactions, but in today’s connected world, pre-purchase often begins online with researching a company, reading reviews, and browsing blog posts — so optimizing your brand experience across all things digital is essential.
[si_guide_block id="57881" title="Digital Branding Guide" description="Download your Digital Communications Strategy for FMCG Brands"/]
The Problem With Perfection
The mistake many…
Both brands and consumers are stories in progress - such stories not only simplify what could otherwise be complex facts; they unite everyone in a commonly recognized purpose
Storytelling is as old as gathering beneath the evening skies around a campfire to listen to tales, which make people laugh, cry and even question themselves. People think narratively. Filmmakers like the Coen Brothers or Steven Spielberg vividly illustrate the point.
As a brand psychologist, I often equate the story’s ‘hero’ to the classical ‘hero’ as explained in Jungian archetypes.
Jungian archetypes are prototypes in the human mind. Whilst they are developed, they are neither learned nor acquired. Their core is embedded in our DNA.
Often people mistake that the hero’s purpose is to make the brand the story’s champion. Whilst certainly gallant, like all great heroic leaders, the brand’s true purpose is to…
Whether you’re hastily booking a last-minute meal for two, or boycotting the societal conventions and watching Netflix at home, in your PJs, it’s that time of the year again!
Boyfriends are panic buying 100 roses for £25 at Aldi and the card racks at Clinton’s are only getting larger.
According to research from a retail and shopper marketing agency Savvy, 39% of shoppers said they expect to spend more on Valentine’s Day 2018 than they did last year, rising to 52% among 18-34 year-olds. In addition, 56% of respondents said that they don’t mind spending more to make the day special. The research also highlights that Valentine’s Day spending is expected to hit £726m. Yes, that’s right!
Wondering how your business can benefit from this revenue? To captivate the love-ridden audiences on Valentine’s Day, marketers need to…