Fear: Many brands fail to differentiate themselves from the competition because they often try to emulate what the other successful competitors have done with similar products or services. Marketers are afraid that customers won’t recognize and value the differentiating key points of the brand and therefore they try to say the same thing and offer the same benefits that the other brands offer. In fact, they get lost in a sea of similarity and fail to gain market share in the process or fail altogether. By not understanding what motivates the customers to choose one brand over another, the brand fails to develop a relationship with the customer and thus there is no loyalty nor recognition of why one should continue to purchase and use one brand over another.
UNCERTAINTY. Faced with this the marketer often resorts to the most common denominator and that is often price. Feeling that price is the prime motivator, the marketer resorts to one promotion after another and becomes obsessed with driving sales and trial through discounts and sales events that look just like the competitors. Price perception is only one part of the equation. It’s important to build understanding of what differentiates one brand and why the customer should remain loyal to yours and not the competition. To do this, you have to understand how the customers think and what motivates them to try one product or service over another. What will stimulate them and create an emotional value to more customers more often.
DOUBT: In an era of CRM (Customer Relationship Marketing), the tendency is to try to define the target customer so specifically and to narrow the appeal, that many potential customers are never reached with the message even though there is value to be had. By broadening the features and then communicating in more than one way, the brand can resonate with more customers, more often. You must understand the four ways that the brain thinks when making buying decisions and then developing a brand that will appeal to each one by speaking their language and hitting the key points in an appealing way.
We call this BrainBranding and it’s a way to look differently at your branding and marketing efforts to better increase market share, brand awareness, and loyalty.
Understanding the brain’s four thinking preferences - and how these preferences translate into consumer Buying Styles, will enable you to create not only a better brand - but also an innovative branding and marketing strategy. The bottom line: BrainBranding connects your brand with more people. Period.
In this session you will learn:
Increasing revenues and profits by reaching more customers, more often with a differentiating message that can create a brand preference by understanding the customer better and communicating more effectively.
Years of Experience: 30+ years
Areas of Expertise: Brand Marketing
Kenneth Ken Banks brings more than 30 years of retail marketing experience to his consulting and presentations business, where he specializes in helping companies to develop effective brand strategies.
A retail marketing executive with companies like PetSmart, Circuit City, Eckerd, and Procter & Gamble and advertising agencies like Doner and Fahlgren, Ken has also served on the advisory boards at both Texas A&M and the University of Florida. He has been an adjunct professor in graduate marketing studies at Schiller International University and University of Florida.
Winner of numerous industry awards and author and contributor of several articles and books, Ken recently co-authored the book, BrainBranding – Activate the Brain, Stimulate Your Brand with Robyn Winters. He has also been honored with the American Advertising Federation’s Silver Medal award and by being inducted into the Retail Advertising Hall of Fame.
A professional member of NSA since 1996, Ken has spoken at the NSA Winter Workshop and has written articles for SPEAKER magazine and co-authored with Robyn a chapter of NSA’s SPEAK MORE book published in 2012. The National Speakers Association (Central Florida) awarded its George Morrissey Lifetime Achievement Award to Ken in 2010.View all trainings by this speaker