Have you ever doubted whether your brand strategy will help you smash your commercial goals?
Ever found yourself wondering if the creative assets you’ve spent countless dollars on will be worth the investment?
If the answer to these two questions is yes, then keep reading.
Managing a brand is never easy. From building a successful brand strategy to proving what you did was worth the investment, there’s simply so many moving parts to consider. With all this responsibility on your shoulders, it’s no wonder brand leaders are left feeling stressed and overworked.
There used to be no viable solution to these challenges. But now marketing technologies have evolved beyond our wildest dreams, and their capabilities are literally endless.
If you can use technology to get you to your destination, tell you what the weather will be next week, and send you song recommendations, tailored to your listening preferences; it stands to reason that Marketing should also have an equally efficient tech solution at its disposal.
Let’s see how the latest developments in MarTech are forcing traditional market research tools into extinction.
First, let’s talk about how brand growth
It's something all Marketers are desperate to achieve but achieving it is no easy feat.
To grow, you will need an intimate understanding of how your brand is performing versus its key competitors and category. Once this is established, you’ll be unstoppable - creating products that resonate with the needs of your audience to a tee and launching campaigns that hit your category’s values on the head.
Understanding the context that surrounds a brand will help marketers to feel confident their actions are leading to commercial growth. Since the marketer knows they are acting on the latest data, they can be certain their ventures are aligned to the most pressing needs of their audience, the hidden opportunity spaces in their category, and the latest moves of their competitors.
At ProQuo, we work with hundreds of brand leaders, from Chilly’s to OkCupid, on end-to-end brand management. Our AI platform gives support to brands, helping them on content creation, strategy, and monitoring of performance.
Every day, we talk to people in a brand’s category to understand how they feel about the brand and its competition. It’s this real-time data that allows marketers to monitor, create, strategize, and feel confident about the actions they are taking to grow.
Here’s 5 ways you can help grow your brand this year:
1) Creating a killer strategy that delivers on your marketing goals
As a brand leader, one of the first things you need to be successful, is an unbeatable brand strategy, to help you achieve your goals.
Old school brand strategies were static. But in today’s data-driven world, this is an impossibility.
We are more connected than ever. Now brands can see live data on their category, competition and customers. And because this context is constantly changing and updating, brand strategies have had to evolve too.
This additional context is now an essential component of any brand strategy to ensure the strategy stays on course to deliver ROI. And the more live context a Brand Manager has at their disposal, the more likely they are to make the right decisions.
Growing your brand is all about making the right decisions at the right time. Our AI can help with that, running through millions of potential choices for you to make, and calculating the right choice for your brand, based on previous performance, marketing goals, and the competitive landscape. After these calculations, the AI will generate an action-plan for you to take that’s sure to get you to your intended end-result.
Say your goal was to differentiate yourself within the market, our platform would surface an action-plan to help you achieve this goal, showing you which aspects of your marketing can be tweaked - be it your packaging, campaigns or other - to help you stand out.
To learn more about creating an unbeatable brand strategy, click here.
2) Making your campaigns, concepts and products the best they can be through creative testing
A lot of time and hard work goes into brainstorming and developing creative campaigns and assets, so why wouldn’t you want to ensure they are the best they can be?
Launching a new creative campaign can be extremely stressful, never knowing whether it will perform as expected. That’s why on ProQuo AI, you can test your creative ideas to ensure success before you invest.
We use the 16 Drivers of Relationships - the 16 factors that have been proven neuroscientifically to determine the strength of a brand’s relationship with its consumers - to tell you whether your concept is resonating with your audience.
For example, it might be your concept is excelling on Empathy, one of our Drivers, but is missing the mark on the Value For Money Driver. If the goal of your campaign was to demonstrate how profitable your product is, you could then conclude that it needs optimizing before you launch.
When it comes to guaranteeing the ROI of your marketing investments, there's nothing better than creative testing. With ProQuo, you can understand the impact of your concepts, packaging, communications, and more, in a matter of days. This will enable you to see quickly if your live brand strategy is having its intended impact. And if not, this allows you to optimize in time.
3) Guaranteeing your ROI to prove the value of your marketing to stakeholders
Marketing is tricky to prove, as its impact can’t always be tracked immediately, and results aren’t always directly related to sales or revenue. The age-old process of analyzing campaigns after completion is inefficient and doesn’t allow for quick action.
No longer can we rely on backwards-facing tools where you’d only analyze the impact of a campaign after it had taken place – leaving no room for last minute changes.
Using our 16 Drivers of Relationships, you can monitor the changes in your brand's performance, every day, to determine whether the activities you are implementing have been successful.
If your campaign is aimed at growing awareness, you can easily track its success with ProQuo, focusing on Drivers such as Familiarity or Popularity. Our live data gives you the opportunity to monitor the results of your campaigns every day, and pivot strategies, accordingly, ensuring you can achieve your objectives as efficiently as possible. This constant monitoring also allows you to correlate your sales growth with your marketing growth, as results are dynamic, not static like you would normally expect with traditional marketing solutions.
4) Developing a compelling brand narrative that positions your brand in the best light
All marketers need to know how to weave a captivating narrative to show their brand off in its best light.
When brands can spin a good story, they’ve got a higher chance of securing:
Recognition – both internally and externally
Distribution contracts – both regionally and nationally
Pitches – convincing agencies, clients and more, that they're worth taking a shot on
But pulling together a compelling story is often difficult to do - with so many disparate data sources to analyze, and competitor analysis not always being so easy to obtain.
On ProQuo, at the click of a button, you can pull months’ worth of data from the platform, selecting your best story to highlight your brand’s growth areas, in a flash.
With this data, you can show how your brand is performing in relation to competitors, giving retailers a good indication of how popular and in demand your products are. It also provides retailers with a detailed timeline of how your brand has performed over time, taking into account campaigns or notable events, allowing you to track the long-term impact of events on your brand.
What’s better proof of your value than that?
To learn how to use technology to create a captivating story, click here.
5) Monitoring your competitors in real-time to identify opportunity spaces first
Remember how time-consuming competitive analysis used to be? Sitting for hours researching and trying to determine how best to compete? Well, those days are over. Our platform provides you with 24/7 live monitoring, so you can see whether what your competitors are doing is working - and how to beat them. This real-time analysis allows you to see how your competitors are performing each day, and what you can do to stay ahead.
Live monitoring enables you to keep a close eye on the competition, monitor ongoing brand performance, and stay up to date with changing customer needs. All of which are essential when trying to produce relevant concepts that will resonate with your intended target audience.
As ProQuo’s data is reactive, you’ll be able to update and pivot your brand strategy, as you go. So, if you find a specific strategy isn’t delivering, you can switch course to a more effective method. This ongoing feedback loop will help to inform future brand strategies, enabling you to learn from mistakes, replicate successes, and save valuable $$.
No more looking back like you’d do with quarterly dips and post-campaign reports. And say goodbye to the one-dimensional data of Social Listening platforms. This data is living and breathing, and constantly evolving. This will help your brand to keep its finger on the pulse, enabling it to capitalize on occasions and contextual events around your brand that could help to boost performance.
With ProQuo you’ll have the answer to all your problems at your fingertips. From creating airtight strategies to developing killer creative assets, you will have everything you need to be successful within your category. Gone are the days of uncertain decision making and last-minute scrambling to prove your ROI, get ready to take on 2022 with the tool of your dreams.