Just hearing the word audit can send even some of the most organized companies into a state of panic – that is if you are referring to a financial audit.
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Food and beverage brand managers often dream of the idea that consumers are having wonderful conversations about their brand. That people everywhere are sharing the good news of the glory of their brand. Telling all their friends. Sharing on social media. Talking to strangers in the supermarket.
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Think about your ownable brand assets that are distinctively yours, and no other brand can claim. It may be your name, logo, art, icon/symbol, personality, jingle, packaging, tagline, etc. Do you have such assets, AND, are you leveraging these assets to their fullest?
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As food marketers, we keep hearing it over and over again… “Consumers are looking for healthier eating options” – especially Millennials. In fact, according to the polls, 80% of people are “trying to eat healthier.”1 (As Yoda said, “Do or do not. There is no try.”) Meanwhile, everyone in the food industry is searching for the “Holy Grail” of healthy, nutritious, minimally processed and convenient. Oh, and it has to taste good too. But wait… in the real world, the relative significance of all of those factors is literally the difference between success and failure.
Last week, we touched on the importance of your packaging (hint: it’s the single-most critical and cost effective marketing tool you have) and the first sign (is it more than 3 years old?). If you missed the article, you can find it here [link]. This week, we’ll cover signs 2 – 8 that you should consider a refresh.
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Dollar for dollar, your packaging is arguably the most important and cost effective marketing money you’ll ever spend. Consider that it’s your only branding vehicle seen by 100% of your consumers. What’s more, those consumers are influenced by it at the exact moment of decision. (Significantly, 90% of shoppers make impulse purchases. And statistics vary, but they all indicate that between 50% and 67% of ALL grocery store purchases are purely impulsive. Even with shoppers who use lists, the opportunity is always there to sway them to your brand at the last moment.)
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For years now, the holy grail of marketing has been to forge a love bond with your consumers. As marketers, we’ve been taught that creating a deep and lasting personal “relationship” with this core audience is the key to brand success. According to the Pareto Principle, 80% of our profits will come from just 20% of our customers. It’s the basis for targeting our “loyal” followers with the bulk of our marketing efforts and budgets.
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Building, Maintaining & Leveraging
Memory Structures
The human brain is complex. So, too, are memories which utilize all of your senses to link and retain information: how things look, sound, feel, taste and smell are all part of it.Read more…
