Summary

In this episode of the Brand Builders podcast, Tom and Preston discuss how to rethink the process of building a brand. They emphasize the importance of focusing on the things you need to be excellent at and investing your resources there. They highlight the significance of storytelling, creative content, and product differentiation. They also stress the need for a balance between short-term revenue and long-term brand building. Additionally, they discuss the allocation of resources between agencies and in-house teams for creative and media buying.

Takeaways

Clarify what you need to be excellent at and invest your resources there.
Focus on storytelling, creative content, and product differentiation.
Balance short-term revenue with long-term brand building.
Consider the allocation of resources between agencies and in-house teams for creative and media buying.

Chapters

00:00 Introduction
00:57 Rethinking the Approach to Building Chubbies
08:17 Approach to Content, Creative, Storytelling, and Product
26:16 Balancing Brand Building and Direct Response Marketing
32:40 Short-term vs. Long-term Focus
39:01 Conclusion

Summary

In this episode of the Brand Builders Podcast, Tom and Preston continue their exploration of the book 'Kellogg on Branding.' They discuss the branding makeover of Ulta Beauty as an example of how to balance short-term performance with long-term brand building. They highlight the importance of taking the time to understand your brand and its differentiation, as well as reevaluating your communication channels. They also emphasize the need for startups to think long-term and not rush growth, as longevity and building a strong foundation are key to success. In this conversation, Tom and Preston discuss the importance of understanding your product and how it should evolve over time. They highlight the example of Hermes, which took five years for their product to gain traction and become successful. They emphasize the value of failure in the process of refining and improving a product. They also discuss the concept of brand strategy and how it should be simple and easily understood by customers. They use the examples of Ulta and McDonald's to illustrate the importance of clarity and consistency in brand messaging. Additionally, they explore the rebranding efforts of John Deere and the need for a holistic approach to brand that involves all aspects of the organization.

Takeaways

Balancing short-term performance with long-term brand building is crucial for success.
Taking the time to understand your brand and its differentiation is essential.
Reevaluating your communication channels can lead to improved brand awareness and customer understanding.
Startups should think long-term and focus on building a strong foundation for sustainable growth. Understanding your product and how it should evolve over time is crucial for long-term success.
Failure is valuable because it helps you refine and improve your product.
Brand strategy should be simple and easily understood by customers.
Clarity and consistency in brand messaging are essential for building a strong brand.
A holistic approach to brand involves all aspects of the organization and requires internal change management.

Chapters

00:00 Introduction and Background
03:07 Lessons from Brand Leaders: Ulta Beauty
11:06 Balancing Short-Term and Long-Term Goals
24:47 Building a Platform for Long-Term Success
26:21 The Importance of Time and Iteration
29:27 The Power of Simplicity
34:08 Building Partnerships and Collaboration
39:41 Rebranding and Transformation
50:31 Creating Exceptional Customer Experiences

Summary

In this conversation, Preston and Thomas discuss the connection between brand building and financial results. They explore the short tenure of CMOs and the transition to Chief Revenue Officers (CROs), highlighting the importance of financial alignment for marketers. They review different methods of valuing brands, including intangible assets, balance sheet approaches, and income approaches. They also discuss the role of consulting firms in brand valuation and the potential for biased incentives. Overall, they emphasize the need for marketers to understand the financial side of their role and the strategic goal of brand building in driving profit growth. In this conversation, Preston and Tom discuss the connection between brand building, brand value, and finance. They explore the use of digital data to measure brand health and relevance, highlighting the limitations of traditional non-digital methods. They also discuss the importance of understanding financial statements and the financial feedback loop to drive sustainable increases in profit. The key takeaway is that building a brand is in service of profits and requires a reframing of its purpose.

Takeaways

The short tenure of CMOs and the transition to CROs highlight the importance of financial alignment for marketers.
Different methods of valuing brands exist, but many are not actionable or accurate.
Consulting firms may have biased incentives in brand valuation.
Marketers need to understand the financial side of their role and the strategic goal of brand building in driving profit growth. Digital data can be used to track brand health and relevance, complementing traditional non-digital methods.
Understanding financial statements and the financial feedback loop is crucial for driving sustainable increases in profit.
Focusing on digital metrics alone may not fully capture brand value and should be complemented with a broader set of digital behaviors.
Building a brand is ultimately in service of profits and requires a shift in perspective.

Chapters

00:00 Introduction and Recap of Section Two
01:23 Gaining Insight About Your Brand and Quantifying Its Stature
24:30 Measuring Brand Relevance and Health
26:14 Digital Data and Brand Measurement
30:12 Non-Purchase Behaviors and Brand Health
36:10 Brackets on Metrics and Understanding the P&L