THE SCIENCE OF BRANDING ! !
MY FOCUS: OVERALL PERCEPTIONS, EXPECTATIONS
BRANDING IS AFFECTING THE HALO OF PERCEPTIONS, EXPECTATIONS, FEELINGS, ASSOCIATED WITH AN OFFERING
• Pre-emption of competitors • Preference over other locations, investments ECONOMIC BENEFITS OF • Easier recruitment, retention of employees POSITIVE, RELEVANT, • Young grads more likely to stay DIFFERENTIATED HALO • More loyal businesses, employees • More predictable revenue streams • Less pressure to compete on “taxes” or other incentives • Greater economic stability • Greater clout with providers, prospects • Greater cost efficiencies
HALO HAS VALUE
BRAND ANNL REVS / GDP MARKETING SPEND BILLIONS MILLIONS WHAT OTHERS SPEND TO APPLE $ 181 $1,100 MICROSOFT $ 86 $2,006 CREATE, LEVERAGE PERCEPTIONS TO THEIR IBM $ 99 $ 461 ADVANTAGE AM EX $ 32 $2,190 FRANCE $2,730 $ 52 UK $2,520 $ 79 MICHIGAN $ 382 $ 42 WISCONSIN $ 232 $ 21
NEGATIVE PERCEPTIONS GIVE US NEGATIVE HALO THAT TURNS OFF ALL OUR TARGETS
NEGATIVE DEMOGRAPHICS Birth rate not compensating for older population. MEAN WE NEED TO HAVE More moving out of state than in. To sustain, much less grow, we have to import workforce. POSITIVE HALO TO ATTRACT MUCH NEEDED WORKFORCE
POTENTIAL NEGATIVE 200 employers $ 5 mil COST TO US ALL ANNUALLY Lost income taxes $ 10 mil Lost econ impact $ 50 mil Lost employers $500 mil Economic stagnation $$$$$$$
HOW GREAT BRITAIN ADDRESS THEIR SITUATION • ! One brand, one campaign • ! 134 markets around world • ! Year 1: invested 50 million US$ with return of 786 million US $ • ! Year 2: increased investment to $86 mil • ! 7 year commitment
s h u t r T 0 1 e m o c r e v o o t s e g n e l l a h C 6
NET NET: A BRAND IS NOT A LOGO, SLOGAN OR AD CAMPAIGN. TO BRAND IS TO AFFECT DECISIONS IN YOUR FAVOR. EMOTIONALLY FRAMING A DIFFERENCE COMPELLING IN ITS RELEVANCE TO THE TARGE. THEN— BECOMING FAMOUS FOR HOW IT HELPS PEOPLE BE MORE OF WHO THEY ARE OR ASPIRE TO BE.
CHALLENGES TO OVERCOME IN LEVERING SCIENCE OF BRANDING TO GROW OUR ECONOMY AND WORKFORCE 1. No one has authority or responsibility to ID, confirm or own emotional appeal, our “HALO.” 2. If and when someone does, they’ll need resources to engage the entire state to celebrate it. 3. There’s no source or commitment for the sizeable and consistent funding necessary to overcome negative stereotypes and build emotional attraction. 4. The “who” managing it must be knowledgeable of best brand management practices, and given authority to build out on-brand programs. 5. If above can be figured out, whoever manages it must be immune from politics, changes of administration, etc. 6. There is no sense of urgency. Yet others are already way ahead of us, marketing to Millennials, VCs and high growth sectors.
MLindsay@LSB.com www.LSB.com ! !
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