Saturday, July 15, 2006

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Brand awareness is good...as long as you convert sales leads

Building brand awareness ( created through advertising, promotion and publicity ) is an important activity...but it doesn't become a revenue driver until you can measure its results by segment on an ongoing basis. Then it becomes an asset.

Column centimetres of ads or press coverage is nigh on useless unless you are connecting with existing and new customers to capitalise on a wider market profile. So the leather has to hit the street.

If each rep is making two extra cold or qualified phone calls a day, that's 400 new sales suspects opportunities per year. Now your brand awareness strengths are being utilised.

One extra face-to-face presentation per week is at least 48 new customer connections per year. Do the math if you have a large sales force.

Connecting with new customers is an investment in your brand. To miss the opportunity to do so, is a waste of promotional funds.

But it is critical to measure brand awareness strength and relevance to current and new customers in specific market segments... compared to competitors.

Boards have a habit of wanting to know how their organisations are standing in the marketplace...and what their management teams are doing about exploiting their competitive positions...and converting awareness to profitable revenue.



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1 Comments:

Anonymous Gavin Heaton said...

Brand awareness is just the first step. As you point out, you are unlikely to generate much in the way of leads at this stage ... and sales efforts will require more intensive investment as long as your awareness level is low.
The sooner you can begin driving your brand strategy out of awareness and into higher modes, the sooner your efforts will be rewarded with sales.
This is where many new businesses falter. The board begins to become impatient with a brand strategy that doesn't deliver on sales. The challenge is not to spend more on marketing, but to spend smarter. Of course you need a good product/service to begin with ... but without a compelling story and a way to deliver it, sales are going to be a struggle.

7:30 pm  

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