Scott Seroka is one of 29 Certified Brand Strategists in the United States. Seroka advises companies to be preemptive and proactive about their brands.
“A chief executive officer or chief marketing officer is typically motivated to consider brand development when one or more of the following five scenarios occur:
- Declining or stagnant marketing ROI.
- Loss of brand distinction; the company “blends in” with its competitors.
- Launch of a new product or campaign and the wish to brand it properly.
- Lack of brand clarity and consistency within the organization.
- Involvement in a merger or acquisition, and the need to manage the parent and sub-brands with the appropriate brand architecture.
“Brands both create and drive perception: Look at how Samsung is eating away at Apple’s smartphone market share with the Galaxy, branding the iPhone as the phone for the older generation. And look at how much we happily pay for a cup of coffee at Starbucks vs. McDonalds…is it really that much better?
- “The significant result of a strong brand is its unique distinction and resulting growth in several key metrics including:
- Price premium – Ritz Carlton vs. its parent brand, Marriott; or Lexus vs. Toyota.
- Product/service preference – Ben & Jerry’s ice cream vs. a house brand.
- Recognition – Colgate toothpaste vs. Gleem.
- Conversion – McDonalds vs. Burger King.
- Plus 14 other metrics, some of which include awareness, recognition, understanding, consideration, relevance, loyalty, advocacy, and customer retention – all of which positively affect brand performance and ROI.”