How to build a lasting brand? Things to bear in mind – Part 2

This is the last part of the two-part series. Read Part 1 here.

A case study

Kyndal has been credited for successfully launching iconic brands in India as well as creating new categories by understanding the gaps in the market. BOLS XO Excellence brandy was a category-creator. Launched in 2009, it was the only premium brandy brand with imported genuine grape content.

With a new category the challenges are unique. You don’t know who your customer is. You don’t know if it will be accepted. We worked on getting clarity, we believe in research. The first and most important step was understanding the target audience, and more importantly- his aspirations. Unlike other products, the spirits is a category that is more emotionally driven.

Post this research we arrived at a relevant positioning, which will also be true to the BOLS brand worldwide. We then educated our teams internally and then the trade. We spoke to many consumers and focused on delivering quality. People appreciated the brand and we began to get a good response in the market.

Understanding the brand identity and personality helped us identify which properties to associate with. We then stepped things up and associated with prestigious events such as the Ritz Icon Awards and the ATP Aircel Chennai Open. The associations helped establish BOLS in the mind of the consumers as a superior, expert, progressive, international brand. Advertising is not allowed with alcohol brands, so we have to tread with caution. We measure and evaluate the impact of our initiatives and also do a brand health research every year for fresh insights.

The conclusion is, have a brand stand or positioning that is relevant but differentiated. Invest behind it and follow it through. Research and insights are priceless, and show you if you are playing the game right, or if you need to tweak your communication. Lastly, perform, measure, evaluate, and try to stand out always.

Parameters to measure brand success

Understanding a brand's stage of life can serve as a relevant takeoff point for campaign planning. By focusing on what is most critical for a brand's current circumstance, marketers can use their resources most effectively. Analyzing brand at each and every step of brand building is an effective system for quickly profiling a brand and narrowing the discovery and research options to what should most immediately and positively affect your business.

As we know there are four different stages — new, growth, mature, and revival that brands go through in the process of building a brand. These stages, in turn, dictate their unique marketing needs. Each brand stage has different definitions of success and should be treated differently.

· First stage – introduction stage – where we are introducing the brand to the target customer by making them aware of the various characteristics/attributes of the brand.

Here the parameter to measure the success would be the criteria of Differentiation and Targeted Awareness. How do your brand’s offerings clearly differentiate a brand from competitors' offerings makes a difference. If a brand isn't differentiated in an appealing way to those interested in trying something new, it won't find a market entry point, no matter how unique it is.

· Second stage - Growth Brands (Build) - After a brand is created; it begins growing among niche consumer groups, presenting the first opportunity to begin using brand reputation. It also presents long-term risks in the guise of lucrative short-term opportunities.

Here the parameter to measure the success would be the method of Transitioning from Early Adopters to Mass Market without Alienating Core Fans

· Third stage - Mature Brands (Leverage) - When a brand has become a household name, marketing has become a core internal function. The brand's key attributes are likely well known both within and outside the company or brand. At this stage, growth becomes difficult to maintain because the sheer weight of the brand's size and awareness makes it challenging to constantly refresh. Accordingly, senior management seeks new ways to increase brand relevance among changing demographics and to find new revenue streams.

Here the parameter to measure the success is the Growth Against "Cooler" Upstart Competitor.

· Fourth stage - Revival Brands (Evolve) - When a brand has been a household name with a broad fan base for a generation or more, brand managers settle into a routine and stop giving much thought to differentiation, awareness, and new competitors. In some cases, driven by an innovative television show or an A-list celebrity spokesperson, the brand can sustain itself for a long period with no overt signs of market weakness.

Here the parameter to measure the success is to know the Regain Relevancy. How well it has managed to regain the relevancy with the target audience in making them buy the product.

How a startup can differentiate

Startups no doubt suffer difficulties in selling products with similar features and brand segment. In order to make the brand distinct enough to generate value and build long term growth, one has to create a unique point of difference in their marketing strategy for the business. One should try to engage its consumers in a brand story as a part of their marketing strategy. Moreover, in this fast developing market scenario where other players are popping every other day, creating a more realistic brand identity for your product instead of making bland statements during the startup stage can help you win brownie points over the other competitors. Initiatives like designing customer experiences in link to your brand’s point of difference can facilitate the startup process.

The communication with the consumers should be clear and concise at the start-up stage. The use of different communication tools ranging from traditional media to social media tools should be in an interactive way in order to keep the consumer engaged at all times. 

And at all times connect with the aspirations of your customer. Don’t get wrapped up in your brand so much that you lose sight of the changing customer mindset. Keep questioning your relevance.

Pushpanjali Banerji, is the Brand Director of Kyndal India. She, looks after strategic marketing initiatives for Kyndal’s brands, executed both in India and abroad. Her association with Kyndal India began in 2006, wherein she was actively involved with the company’s marketing and communication for some of the world’s most exclusive luxury brands including the likes of Absolut Vodka, Remy Martin, Bowmore Single Malt, BOLS and many more.