Question

Marketing Reflection:

• Analyze data sources and uses in the local, national, and global marketplaces.
• Evaluate various methods for creating customer value.
• Compare and contrast the ways that a company can create a brand identity.

Answer 1

Various methods for creating customer value -

Make motivational programs

Here are the most popular types of motivational programs you can use via email:

• Discounts. You can offer a discount to high-spending customers. Your proposition may also cover multiple purchases, regularly purchased or complementary products and services. Besides, you can propose a discount during holidays or off-season to help customers and boost your sales.
• Special offers. Gratitude and gifts for cooperation are always welcomed. This way you say, “We appreciate you as a customer and look forward to cooperating again.” You can offer some free goods as a bonus for customer orders or a special service level.

Use loyalty programs -

The purpose of loyalty programs is to thank customers for their cooperation and loyalty to your brand and show how much you value them.

• Point-based. Customers get points for purchases, email subscriptions, adding personal information, or feedback. Then they can spend their rewards on future purchases. The most simple approach is frequently used by coffee houses. After the first purchase, they give their customers a stamp card where they put a stamp for each cup of coffee purchased. As soon as a customer completes the card, they receive a free cup of coffee.

Share valuable content

Sharing knowledge in your area of expertise will always get a positive response. Value-driven content lets you establish yourself as an expert, enhance brand credibility, and improve customer loyalty.

Original content

You can create educational content like case studies, infographics, articles, recommendations, guides on how to use your product, videos, and podcasts. Send your content by email, publish it on your corporate blog, and share it on social media to keep customers engaged.

Ask for feedback -

You can ask for reviews via email, share links to relevant review websites, and monitor social media for mentions of your brand.

Companies that want to receive feedback about the quality of their goods or service always ask customers for their impressions: Do they like the product? Did they have any difficulties with the service, what were they?

Customers appreciate this attitude from the seller and are more likely to come back again.

Personalization -

The first tip for personalization is to keep customers’ data and use it. By keeping track of your customers’ birthdays, you can congratulate them on time. If you monitor users’ online behavior and purchase history, you can adapt your emails to include their favorite products. If you have information about their membership start date, you will be able to send milestone emails to your subscriber.

• Ways that a company can create brand identity -

Conduct a Thorough Brand Audit -

The first step is to determine where you stand in the marketplace and to understand who your customer is. To do so a company leader must uncover what is most important for driving growth and analyze how the product or service is actually viewed by consumers.

Additionally, an in-depth competitor analysis - including a review of competitor websites, search engine optimization, brand identities and advertising - informs who they will compete with for market share, how to differentiate, and what strategies to employ.

Establish Your Unique Value Proposition and Messaging Statements -

In order for a branding effort to be successful, a company must first identify its core philosophies, such as its mission statement and values. It's also important to determine your brand's value proposition to the consumer. This is the foundation of building a brand that truly represents your organization.

Develop Your Brand's Creative Elements -

The next step is to create the look, feel, and voice of the brand that will be carried through all marketing channels - from the website, to social media, advertisements, and packaging.

A brand's visual vocabulary will be reflected in your colors, fonts, logo and overall style .

The brand voice should be distinctive, resonate with your customers, be consistent and stay true to your company's values.

Implement Strategies to Establish the Brand Identity -

A brand identity is built over time. You must implement several strategies to help grow brand awareness and strengthen the brand. It builds a robust social media presence using all of the appropriate channels to communicate directly with the desired target audience whether on Facebook, LinkedIn, Pinterest, Twitter, YouTube or Instagram.

The agency creates a PR strategy that provides placements in the right channels, such as trade journals, mass consumer publications, television and print interviews. It develops a content marketing strategy that tells the story the company wants communicated to its target audience.

Analyze and Refine the Brand Identity -

While it is crucial for a brand to establish an intrinsic value to the consumer, it does not mean it shouldn't change over time.

To remain competitive, companies must routinely analyze and refine their brand to ensure it's delivering on the promises of what the company stands for.

One of the benefits of digital advertising is the ability to track, target, and test new strategies and tactics

"Your brand identity should not just be a mission statement on the wall and logo. Your brand is a reflection of your thinking, your character, and your values."