Welcome to the Dove Direct Print and Marketing Blog. Today's post is an update from our highly read "Unified Marketing Builds Brand Equity, Part 2" that reflects on how brand equity in the age of holistic minded consumers is evolving.
Acknowledging that building brand equity requires a unified marketing strategy whereby all customer facing channels share unified marketing and messaging collateral, in 2019 the stakes have been raised, particularly in how consumers view what a brand does, outside of selling products and services.
For starters, brands that are able to step up to the plate in challenging times, and are also able to focus on instituting helpful community outreach programs will be the brands whose equity will increase, as consumers are attracted to brands that care.
Most experienced marketers and brands are well aware of how the economy, consumer confidence and workforce numbers contribute to sales numbers, all things being equal. Today, we are confronted with an extraordinary set of developments that are headed in a direction that will eventually erode consumer confidence, the economic outlook and employment numbers. Enter the Shutdown of historical proportions.
The focus of this post is about unified marketing being able to build brand equity in the age of unforeseen circumstances and how some brands have taken the bull by the horns and are helping those who as a result of the shutdown, are falling into economic peril.
PayPal
Among those private sector brands that are in a position to help, some are stepping up to the plate and have instituted programs to help federal workers who are facing evictions, medical care challenges, the ability to feed their families and basically are running out of money due to the shutdown.
The PayPal community is part of assistance efforts being put forth by like minded organizations such as AT&T, Kraft, Hyundai and many other companies for federal government employees who are the backbone behind our public sector's ability to provide essential services across a range of agencies.
PayPal is now offering an interest-free cash advance up to $500, which matches the average equivalent of one week's take home pay. This program is for any existing or new PayPal Credit customers who are federal employees struggling to make ends meet. PayPal is committing to fund up to $25 million of interest-free cash advances to help federal government employees pay for food, gas and other everyday necessities.
PayPal is hoping their interest free cash advance will help these federal employees in need. As a result, PayPal's brand equity should improve due to this humanitarian crises, as a brand that cares.
AT&T
AT&T is joining other brands, chipping in to help furloughed federal employees. According to AT&T, "We're here to help ease the burden of trying to pay bills on time during the shutdown," AT&T said in a statement. "As long as the shutdown is in effect, our customer service team will waive late fees, provide extensions and coordinate with you on revised payment schedules."
Hyundai
Hyundai is offering federal employees affected by the government shutdown some relief by deferring their car payments for one month.
To be eligible for the Hyundai relief, federal employees must be on a lease or loan through Hyundai Capital, whether for new or preowned vehicles. Hyundai Capital will defer payment due dates by 30 days.
Hyundai joins other automakers such as General Motors, Ford, Mercedes-Benz, Toyota, and Lexus, including other automakers whose financing is done through J.P. Morgan Chase. Automotive News reported this week that these offerings are for short-term relief on car loans.
Hyundai's COO Brian Smith stated, "Hyundai is a brand that aims to make things better for its customers, and this is our way of showing customers 'we have your back' during this uncertain time."
Long Term Benefits
We live in the age of holistic consumer consciousness predicted in the book, China's Megatrends: The 8 Pillars of a New Society by John and Doris Naisbitt. The challenges federal workers are facing is real and to that end, consumers will remember those brands that stepped up to help those in need.
Brands are now more valued not so much by the products they sell, but moreover brand value is now deeply tied to what a brand stands for, and what a brand does other than strictly promote products and services.
As we stated in the original post, brand equity continues to also rely on some stated guidelines to follow and execute. The following four points for building brand equity still apply, and for the record, brands should now add their commitment to being a brand that cares above and beyond what they may be selling.
- Apply the branding process to your conversation. The brand is the star. And if you have branded the conversation, yours will be remembered. In other words, turn your sports shoes into Nike's. Or, the politician into the next Barack Obama. People don't remember commodities. They remember brands. Brand buys are specific and memorable. When having the conversation with your customers regardless of where that conversation is taking place, be it on a mobile device, in a display window, at a brick and mortar, on a direct mailer, clothing, or any other piece of marketing collateral, apply the branding process. In short, stay focused. Understand why you are in the conversation and always add value.
- Differentiate to brand the conversation. Although you may feel as if the conversation has already been had and nothing else can be added, don't disengage. Rather, find a point that is singularly unique and push it. Although your point may not dominate the conversation, if it can expand the discussion, increase the appeal, or extend the dialogue, you can add value and that point of distinction will be remembered long after the conversation ends.
- Keep it simple simon. Sometimes the more things change, the more they remain the same which is why K.I.S.S. is such a powerful idea. Keeping it simple allows you to stick to the subject matter at hand. You don't want to engage in a tirade, or publish a tome, so it is with branding. Remember that more does not mean better. Brands that have short sweet names are easy to remember. Think Apple. Pinterest. Facebook. Conversations that are narrow in scope are easier to remember. In fact, the shorter the better. Which may be why Twitter has been so successful.
- Know when and how to switch the subject matter. You want to brand the conversation as to the relevancy of the subject matter. Conversations have appeal to certain people for certain reasons. If it fits the discussion it belongs, however, if it doesn't, know when and how to switch. Don't throw everything in and by all means don't throw the baby out with the bathwater. How do you know when it's time to switch? Instinct, experience, intellect. You can tell it's time to switch when that red light goes off. Don't confuse your audience by introducing another thought, rather remember why you are having the conversation and keep it branded. If you must rebrand or introduce another brand, go back to the branding process and restart the conversation.
Above all else, remember that your message should be consistent with your brand. Today's media allows for multiple touches throughout various channels, however you still must brand the conversation to build equity. Help your audience have real-time conversations on the medium of their choice i.e., PC, tablet, mobile, even paper, to discuss and exchange their viewpoint about your industry, product, service, and/or anything else they may want to discuss. If it's relevant to your audience it should be relevant to you. Remember, the conversation that takes place may not necessarily be about your brand, but you can always brand the conversation.
The Net-Net
All brands can take a lesson from these brands stepping up to help others in times of emergencies from a number of angles. For one, by taking advantage of publicly helping those in need, brands can emerge from these types of situations with increased brand equity. Secondly, brand equity takes time to build and can be lost in a single erroneous marketing act (United Airlines Guitar), depending on how and when the situation is resolved.
Lastly, brands that have the capacity to solve unforeseen errors on the spot will garner more customer support and loyalty, as today's customers are living and working in real time. Thanks for reading "Unified Marketing Builds Brand Equity, Part 2 Update."
Let's have a conversation about brand equity and unified marketing collateral during our next Open House. You can join us on Thursday, January 31st, 2019, from 9:30 am to 4:30 pm. Let us show you how to improve your document processes to optimize your workflow, reduce your costs, and maximize your organization's printing, letter shop and mailing capabilities. And, if you bring us your files, we will create a demo file for you. For more information call Carla Eubanks at 404-629-0122 or email Carla at This email address is being protected from spambots. You need JavaScript enabled to view it..
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