Share of Mind Share of Business How Brand Awareness Can Increase Your Profitability

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Share of Mind Share of Business! How Brand
Awareness Can Increase Your Profitability
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Local Branding Research

• Citadel researched the Tri Cities Consumer.
• Citadel is investing in research to become a
  better business partner and a resource to local
  businesses.
• The survey results will help business owners
  evaluate their branding position within the
  marketplace.
• A position that is directly tied to
  profitability.
• 385 area residents were surveyed
• 25 Business Categories were researched
• Results demonstrate Brand Awareness for
  Businesses

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What is Brand Awareness?Write down the first
business that comes to mind when we say

• Cola
• Fast Food
• Soup
• Home Improvement Store

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Did you write down

• Coca-Cola?
• 3 out 4 do
• McDonalds?
• 3 of 4 do
• Campbells?
• 9 of 10 do
• Lowes?
• 64 do

How Did They Do It? Local market results differ
due to category competition
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Would you believe that the business with the
highest brand awareness percentage always
outsells numbers 2 and 3 combined?

• Its True!
• Why?
• 99.2 of people surveyed said theyd be
  more likely to use a business that came to
  mind first!

Winter 2006 Branding Survey
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Business CategoriesThe X survey identified two
types of business categories

• Mature
• Dominant leader established
• Low no-response rate, nearly everyone is familiar
  with a business in the category
• Lowes is a category-king but 10-15 years ago,
  the Home Improvement category was non-mature

• Non-Mature
• No dominant leader established (yet)
• High no-response rate, many people dont know of
  any business in the category
• Example Typically the Chiropractor category has
  an 85 no-response rate
• No Category king it will be less expensive to
  dominate a category now, you could be this
  category leader in 10 years!

Is your business in a Mature or Non-Mature
Category? Whats unique about your business that
will distinguish you in your category? Is there a
leader in your Category?
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Locally, How Do You Get Brand Awareness Like
Lowes?

• Consistency in your message and marketing
• Influence consumers with Intrusive Media
• Get More Relational Customers For Higher
  Profitability
• Avoid The 5 Causes of Advertising Failure

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Achieving Brand Awareness with Consistency
throughout the Product Cycle

• People encounter about 3,365 advertisements daily
• Will they close their eyes and miss yours?
• Will they forget yours when they go to sleep?
• Long-term, consistent advertising is essential to
  success

• With consistency you will be able to imprint your
  business into consumers minds!

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• Consumers Are Either In or Out
• However, they are always in the purchase cycle.
• They fall into one of two groups
• They are in the market to buy right now
• They arent in the market, but may be in the
• future. They may also influence others that
  are
• in the market right now. (Word of Mouth)

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Two Forms of Media

• Passive Media (Newspaper, Magazines, Internet,
  Billboards Yellow Pages)
• Useful only for consumers who are actively
  seeking product right now
• Useless if consumer already has someone else in
  mind
• Intrusive Media (Radio Television)
• Reaches EVERY potential consumer, those who need
  it now or may in the future
• Establishes Branding Awareness!

Lowes is a leader in its business category, and
they advertise primarily with Intrusive Media.
Look in the Yellow Pages, how big is
the Lowes ad?
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The Power of Radio

• Intrusive Media is so powerful that that
  government ruled that Tobacco couldnt use it to
  advertise, but 35 years later, most people can
  still complete the slogans
• Id walk a mile for a Camel
• Winston tastes good like a cigarette should
• Can you finish this song?
• Two all beef patties, special sauce, lettuce,
  cheese, pickles, onions on a sesame seed _____

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Consumers Said

• The survey showed that an alarming 59.3 of
  yellow page users already have a business in mind
  when they open the book!
• Consumers pass over ads of businesses unknown to
  them.
• 75.4 of the people say they would choose a
  business with a small ad that they have heard of
  over a business unknown to them that had a larger
  ad.
• Only 8.0 say they would choose the unknown
  business with the larger ad.

• Cutting back on the size of
• a newspaper or yellow
• page ad to buy Radio
• increases overall
• Reach
• Frequency
• Impressions
• Brand Awareness

Branding with intrusive media is what makes this
happen!
Winter 2006 Branding Survey
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Roy WilliamsReach your core customer There are
Two Types of Consumers

• Transactional Customers
• Purchase based on price alone
• No business loyalty
• Consider themselves to be the product expert
• Typically the type of customer that complains
  more, returns more etc.
• Transactions yield less profits because they only
  purchase at marked down prices or rates
• Relational Customers
• Find a business and are very loyal
• Seek a trustworthy expert you as the business
  owner
• Not as concerned with price savings as they are
  with the purchasing experience
• Appreciates the relationship established between
  themselves and the business
• Business yields more profits because they will
  purchase at full or near to full price

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Influence is More Important Than Reach

• You can influence the entire market population
  10 of the way with little results
• OR
• You can influence 10 of the market population
  100 of the way with greater results

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Every Business Can Do It!

• Almost any business can afford to influence a
  portion of the market
• Its important to focus your concentration, then
  build from a solid, consistent platform
• Pals is a great example of a local business
  taking a strong position within their category

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Your Results

• See survey results
• From these results, is your category Mature, or
  Non-Mature?
• Is your position what you expected?
• Where would you like to be in the next five years?

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Will it be You?

• Someone will become the dominant figure in each
  non-mature category
• Someone will gain larger market share by finding
  a niche in each mature category
• Everyone has the opportunity to boost their Mind
  Share and Brand Awareness
• A branding campaign will increase
• Profitability
• Are you ready to increase your Profits?

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How Can You Increase Your Awareness?

• Consistency
• Build a long term relationship with your
  customers and potential customers and brand with
  a consistent message.
• Duration
• The desire for Instant Gratification is among
  the top reasons for advertising failure. Stick
  With It! You cant stop! Long term advertising
  pays off!
• Influence
• Intrusive media can influence consumers in and
  out of the buying cycle----There is no wasted
  advertising.
• It isnt about Reach
• Influence 100 of who you can afford, then Grow!
• Increase Brand Awareness
• Create a USP (Who, What and Why You?)
• Consistently remind people using intrusive
  media.
• Relational Customers
• Are you reaching your core customer
• Avoid the 5 Reasons for Advertising Failure

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The 5 Reasons Your Advertising Can Fail

• Targeting the wrong people
• Your media schedule is so thin or fragmented that
  it doesnt penetrate the minds of the target
  audience.
• Bad Creative The message and presentation has
  to memorable
• Marketing or internal weakness with your business
  Signage, location, sales-force, product,
  service, etc.
• Your expectations arent realistic What will
  constitute success?

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• Thank you!
• We look forward to helping your business increase
  its share of mind and profitability!