Welcome to the August edition of the Platinum Mix eNewsletter. Things have been pretty busy here in the last month or so. The new financial year has brought with it a good few new clients, who have been keeping Platinum Mix very busy indeed - we love it.
This months edition of the newsletter focusses on brand and branding, and included a report on the up take of social media across businesses. We also have a great offer for you to establish a Social Media presence for your business. Enjoy!
Brand and Branding - What's the difference?
There is a big difference between your “brand” and your “branding.”
Your brand is you: who you are, what you do, what you stand for, your DNA personality. You are a tangible artifact, which you create into a brand – an image that lives in the minds of the people you interact with and who come to know you.
Are you…
• A watercolor nature artist?
• A restaurant?
• A criminal trial attorney?
• A general engineering fabricator?
• A cupcake baker?
• A cardiologist?
• A business consultant?
• A French chef?
Your branding is what you do: every way you put your brand in action to create associations with you, including your…
• Website
• Blog
• Email marketing
• Community involvement
• Social media platforms
• Collaborations
• Partnerships
• Sponsorships
I recently discovered a brand website called Ranking the Brands, which lists and profiles some of the most trusted, popular, core power brands out there today – Coca-Cola, Google, BMW, Microsoft, Walmart, Hershey’s, Apple, Harley-Davidson and UPS, to name just a few.
What do these standout brands have in common?
• First, they are laser focused on what they do, who they are and whom they serve.
• Second, they differentiate themselves from their competition.
• Third, they evolve how they serve through their brand story.
These brands have built legacies and leadership by paying back and paying forward. They have built schools, donated food, supported the Olympics and encouraged educational and philanthropic activities, which is why we want to support them and what we remember them for.
Here are five ways your brand and branding define you and your business:
1) It’s your calling card, piece of real estate, your stake in the space.
2) It’s the only way to make a footprint and imprint.
3) It tells a story about you and what you do.
4) It’s the way people remember, recall and recommend you.
5) It is the single most important way to establish your credibility, authority and niche.
Sam Walton wanted Walmart to be remembered for saving people money so they could live better. Milton Hershey wanted to open new doors for children in need. Deborah Shane wants to be known as someone who cares deeply about helping people succeed in their careers and business.
Article by: Deborah Shane, Small Business Trends.
Businesses are becoming more social.
The Nielsen-community Engine 2011 Social Media Benchmarking study recently reported that almost three quarters of businesses were participating on Social Media in 2010, and allocating 10% of their marketing budget to it. THis is an increase of 57% of businesses in 2009.
Melanie Ingrey, research director of Nielsen’s online division said: “In the past year, there has been substantial growth in the number of consumers engaging with companies via social media, up from 23 per cent in 2008 to 38 per cent in 2009."
“Australian organisations cannot afford to overlook social media as a highly effective means of engaging with their customers and stakeholders,” she said.
Facebook remains the most popular social media platform with one in four Australian businesses having a Facebook presence. With businesses shifting from using social media purely for branding to building relationships with them. 43% of businesses report seeing social media as a way to build a relationship with customers and stakeholders while 33% use it for branding, which is a significant drop from 61% in 2009.
The most popular social media activities included:
- Presence in social media networks - 28%.
- Tracking/monitoring what is said about a brand/organisation - 26%.
- Responding to/acting on comments - 25%.
Community Engine managing director, Piers Hogarth-Scott was reported as saying, 'Unlike TV, print, direct marketing and radio – which are generally short term campaign based activities – proprietary social networking creates a long term strategic asset for a business."
This is the way of the future people, you can't ignore it. Consumers and clients will demand that brands engage with them via Social Media. For now it remains a popular medium for businesses directly targeting the consumer, but it won't be long till a return on investment can be gained in the B2B sectors.
Need a Social Media presence for your business?
Don't know where to start when it comes to setting up a Social Media presence for your business? Don't worry we can help, our friends at PositionMEonline have a Social Media Facebook package for all readers of Marketing Lifeline. Click here for more details.
Platinum Mix can assist your business with all the marketing strategies mentioned in this, and subsequent eNewsletters. So if your business requires any marketing assistance, call us today on 08 9380 6929.
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