BRAND STRATEGY: WHERE IS ROI?

There is a no disputing the fact that the business world is moving at a breakneck speed and individuals and corporate capability to harness all the tools to make strategy successful is becoming daunting. To get return on brand investment this day belongs only to those whose arsenal can accurately pick the signal of time to project the brand tactics right. The application of right strategy provides a good sounding board for sustaining an excellent performance. The right brand mindset that is highly effective is necessary to design practical programmes of action, execution and implementation having taking cognizance of basic elements of strategy. Today we may see many brand strategies being damaged in the market square. Recently Coca-cola Nigeria promo had to be stopped because of consumers’ angst it. The consumers felt cheated. About two years go. MTN ‘mama na boy’ advert suffered the same fate because of not been correct politically and an assumption that it promoted sex bias. An issue that is subtly enshrined in African culture. It took the Telecommunication giant a lot of explanation, image laundering, playing down the advert before correcting the negative impression generated. For any strategy to be sustained and to bring greater return on brand investment, it must have ability to see beyond its nose. By examining first, the resources available in terms of human, capital; proper understanding of the processes and application of the strategy’s tactics. Strategy must also consider stored experiences of the target market, realizing that stored experiences are long-termed and are connected through series of nodes. These nodes and connection processes, called spreading activation makes everyone different. It is a known fact that people have different experiences, connections of ideas, and happenings in their lives. Since brands belong to the consumers and not organizations, strategy that does not give credence to this fact is already plotting its failure from inception. Every branding professional must realize early that to move a brand into the deepest level of consumer commitment, he/she must first see through the consumer eyes. There and then, have ability to develop a strategy which application should be flawless at the execution level. Brand strategies that get confused or receive ‘unprepared for’ attacks most often do a lot of damage to the brand. In this age of empowered and connected consumer, why should a brand risks priceless value in terms of name it has built over the years by not considering the strategy’s weakness at the onset? While there are no guarantees that any strategy can not fail, a careful consideration of the followings may worth our examination so that we do no harm and jeopardize the present investment and past values. Strategy as we know is the deployment of troops. It is a plan, ploy and perspectives. As a ploy, strategy is seen as ruse which relies on information, secrets known to the group that are unfolds as the battle progresses. Any successful brand strategy must first of all look at the customers. The bottom-line of every brand as we know is the consumer who makes the choice of which product to pitch his tent with. Any brand strategy that concentrates on the organization’s gain alone without due considerations to feelings of the customers will be rejected at the market square. Brand strategy must suggest or aim to give better value and advantage to the consumers. Understanding the emotional cues of the target market is really important in this case. We must remember that customers can not be cheated for a long term, at long run; they either repel the brand by casting votes with their pockets and legs. I want to reason this is where Coca- cola Nigeria last promo got it wrong and this might have accounted for the public outcry against MTN’s “Mama Na Boy” advert too. Every brand strategist must try to reframe first the customers’ experience if they need to hit the bull’s eye in this regard. Another window to consider to get high ROI on brand investment is the internal capability of the brand to deliver the strategy. To fight a successful war, Generals look at their formation in terms of knowledge, capacity, alertness and compliance level. What most of us –brand strategists/experts- do is simply to give orders without considering the level at which the internal audience can function without a breakdown. The ownership/executors of the brand strategy at the end belong to internal audience. If that is so, are they always included at the brand strategy development? Another window of brand strategy that requires attention is keen observation of the market square. In this regard, the brand must consider its present position in the market. The market leader’s strategy must be different from the followers. For the market to reward any strategy, it must be clearly shown that your strategy placed premium priority on your brand promise, value proposition and that the strategy is doing everything to enhance and promote it. The above is not exhaustive to guarantee high ROI on brand strategy investment, but it will also be wise to consider them. Having said these, the followings are among other vital indices to measure effectiveness of brand strategy investment. One, what is the short-term sales figure after the introduction of the strategy? Two, check the customer loyalty to brand equity and thirdly an increase in bottom-line value of the brand. To maximize greater ROI in brand strategy investment, brand must be sure its efforts fit in the operating practices of the above window. Strategy like a sage once wrote is about means and attainment of end(s); not their specifications. Obtaining desired ends justify brand’s investment. -Olaito, Oluyinka, a brand, public relations expert, he works Michael Sage Consulting, Lagos Nigeria. Michael sage is a Branding and Public Relatons Firm based in Ikeja lagos.