Growing your brand is a key objective of marketing managers, as strong brands make your company more money, faster and with less risk. They also help you attract the best employees, give you the best deals with channel partners and get the attention of financial investors. But how should you go about growing your brand?
As the pace of their growth increases, companies often begin to make errors and accumulate debris that ultimately will kill them.
I’ve spent the past few days contacting experienced marketing professionals in the professional services industries to ask how they measured the value of thought leadership to their firm’s financial performance and I heard an extraordinary number of tactical responses that covered web metrics (e.g. page views), social media (e.g. sentiment analysis), mindshare (e.g. media mentions), sales (e.g. CRM metrics counting client meetings, usage in proposals, etc.) and loads of anecdotal evidence (e.g. stories about clients...
Before I go any further, I must make an important distinction. This article concerns driving a brand’s growth within an existing category. As such, it is likely to return less growth than launching a brand into a country with a fast-growing economy or extending an existing brand into a completely new category. However, most marketers still need to fight for market share and to do so successfully should bear these ten actions in mind.
When strategically executed, extending the brand via licensing is a well-proven growth strategy. Brand Licensing enables:
