Reputation and brand management ‘it’s about damn time’

What a Summer we’ve had! Arguably one of the worst for many years in terms of weather and for some celebrities a career-changing one. With news indelibly imprinted online the old adage of ‘today’s news is tomorrow’s chip paper’ is a thing of the past, protecting your reputation and managing your brand is an even greater challenge in the digital age. Of all the falls from grace (and we’ve had a few!) Lizzo’s particularly piqued my interest.

If you’re not familiar with Lizzo and her music she is a body-positive plus-sized popstar who erupted on the world of music with her beguiling hit ‘Juice’ in 2019. Not one to let her size hold her back Lizzo’s crew of support artists are carefully selected and support her body-positive image. So, when the news broke of her former employees filing lawsuits against her for work conditions citing ‘bullying as well as sexual and racial harassment’ I was not only shocked but genuinely disappointed.

I like many others believed the hype and everything positive that Lizzo stood for. Whether the lawsuits will go in Lizzo’s favour or not remains to be seen but will her image recover from this? In Icon’s latest blog we’ll explore the intricacies of reputation and brand management and key elements involved, and strategies to build and maintain them effectively.

Reputation and brand management have become critical components of a successful business strategy. A positive reputation and a strong brand are invaluable assets that can significantly impact a company's bottom line.

Reputation and brand management are important for four key reasons;

1. Trust is Everything: Trust is the cornerstone of any successful business. A positive reputation and a strong brand are essential in earning and maintaining trust with customers, partners, and stakeholders. When people trust your brand, they are more likely to choose your products or services over your competitors'.

2. Differentiation: In a crowded marketplace, a strong brand can set you apart from the competition. It helps consumers recognise and remember your business, making it more likely they will choose your offerings.

3. Value and Pricing: A strong brand can command higher prices for your products or services. Customers are often willing to pay more for a product associated with a trusted and respected brand.

4. Resilience: A positive reputation and a strong brand can act as a buffer during challenging times. When crises or setbacks occur, a well-managed brand can help mitigate damage and speed up recovery.

There are several important elements to reputation and brand management which we’ll discuss in detail. The first and potentially the most important is brand Identity. Lizzo is instantly recognisable with her choice of glittery and glamorous fitted leotards. Just like her, your brand identity is the visual and emotional representation of your brand. This includes your logo, colours, typography, and the overall aesthetics. It should convey your brand's values, personality, and mission.

Next, we need to look at the need for consistency. This is crucial in brand management you should ensure that your brand messaging, tone, and visuals are consistent across all channels, from your website and social media to your physical storefront if you have one.

We’ve previously discussed the importance of positive reviews but I can’t stress enough how important it is to make sure your customers' experience is a positive one. This directly impacts your reputation. Deliver exceptional customer service, and pay attention to customer feedback. Address issues promptly and use constructive feedback for continuous improvement. In the digital age, your online presence is vital. Manage your online reputation by monitoring social media, review sites such as Trustpilot, and responding to both positive and negative comments professionally.

Engaging storytelling helps create a deeper connection between your brand and your audience. Share your brand's story, values, and the impact you have on your customers' lives. We need to accept that sometimes things do go wrong. How you react to this is what will set your brand apart. Develop a crisis management plan to address potential issues swiftly and efficiently, minimising their impact on your reputation.

Applying strategies for building and maintaining reputation and brand is a crucial part of any marketing plan. It starts with knowing your audience but this should be a fluid strategy where you monitor, react and engage with your audience to achieve the best outcomes for your brand.

Reputation and brand management are not optional in today's business landscape—they are essential for success. A positive reputation and a strong brand can propel your business forward, attracting customers, partners, and opportunities. By understanding the key elements of reputation and brand management and implementing effective strategies, you can build and maintain a brand that stands the test of time in our ever-evolving digital world. Remember, reputation and brand management are ongoing processes that require dedication and commitment, but the rewards are well worth the effort.

If you’d like to discuss your reputation and brand management over a coffee or have any other burning issues, you’d like to discuss for your business, Icon would love to hear from you. You can speak to Icon’s Managing Director Kiesha at a time that is convenient to you by calling 07979 940526 or reach out via email kiesha@iconmarketingcommunications.co.uk we look forward to hearing from you.

Top tips for any entrepreneur launching a new business - part 2

In part two of this blog we discuss some further tactics on launching your new business.

1.      Invest in a professional looking website

Building a website is likely to be the biggest initial spend for your new business but it’s essential to portray authority in what could potentially be a crowded marketplace. Once you have your website don’t just let it sit in the background. Regular blogs will attract visitors and help establish you as a thought leader in your space.

2.      Put aces in places

Not just for marketing but running a successful business you need to understand the importance of bringing in skills that you may not necessarily have. Whether that’s finding a bookkeeper or marketing specialist when you run your own business you aren’t expected to be an expert in every field. Decide on the help you require and budget for it accordingly.

3.      Work on your social presence

You don’t need to be on every platform but finding the correct social media for your target audience is a must. We’ve talked before about the different platforms and demographics relating to this. Understanding the correct one for your audience is a must but also ensuring you are posting regular content to engage with your potential customer.

4.      Invest in paid ads

Whether this is on social or through google investing in ads will provide you with the all important quick win. If budgets aren’t massive that doesn’t mean that PPC is a right off. Think outside of the box with your bidding tactics looking at things such as time of day or specific keywords.

5.      Capture data

There are ways to retarget visitors to your website but a much simpler technique is to collate data from visitors to your website. A simple sign-up form offering a discount if your potential customer makes a purchase is a far simpler way of building your database and exposure to interested parties.

6.      Word of mouth

If you’re running a business your existing customers are your best marketing tool. Encourage them to share your product or service. If they’ve had a positive experience, they’ll be happy to share it with friends and family.

7.      Don’t forget your PR

Whether you’re looking at celebrity endorsements, linking up with a local charity or putting your own spin on a national news story. Having a solid PR strategy will give your new business a much needed boost and will save money on expensive advertising campaigns.

We hope you’ve found some useful nuggets in our latest blog and are excited about the journey of your new business. If you’d like to talk to Icon about your promoting your new venture or anything else, feel free to get in touch kiesha@iconmarketingcomunications.co.uk 07979940526.

Top tips for any entrepreneur launching a new business - Part 1

What a rollercoaster two years we’ve had with the dreaded C word! The coronavirus pandemic has made many changes to the way we work. From hybrid working to the proliferation of video calls, one thing is for sure life will not be the same again for many of us post covid. Perhaps this pandemic has given you chance to reflect on your career aspirations and you’ve decided to launch a new business. If so, this blog is just for you Icon’s top tips for launching a new business.

1.      Who is your target market?

If you’re launching a new business understanding who you want to market to is key. You need to understand your target audience; what is their motivation to purchase? What will push them over the line? Gaining an understanding of this will help you secure your all important sale. If you already have customers what is their persona? Young/old, time poor, cash rich creating a persona of your ideal customer should be your first step in your marketing activity.

2.      What is your USP?

Most likely you are entering a competitive market. What is unique about your proposition which sets you apart from your competition? Give your purchaser a reason to choose you over another business. Finding this is key to distinguishing you to your purchaser.

3.      Don’t become overwhelmed

In this digital era the options to market your business are endless. Finding the marketing activity which will give you the best ROI the key to your success. So, whether that’s a strong presence on social media or first rate website. Pick your tools wisely to maximise your profits.

4.      Look for the quick win

Icon works with many new businesses and we understand that marketing spend can be tricky in your first few months of trading. So, utilising longer burn techniques such as SEO could easily swallow up your all important marketing budget without seeing an immediate return. Find the quick win and utilise this then invest in longer term strategies once the till starts ringing.

5.      Analyse your data

If you have a website, make sure you are accessing Google Analytics to understand what works and what doesn’t. If you don’t there are other areas where you can gain meaningful insights into your business. Use this data to better inform yourself of your next steps in marketing.

6.      Don’t overlook your existing customers

Once you have gained a new customer make sure you are communicating with them whether that’s a monthly newsletter or social media posts. Reaching out to existing customers is far more cost effective than trying to find new ones.

Part two of Icon’s top tip for launching a new business will be coming up soon. If what you’ve read has whet your appetite get in touch for an informal chat kiesha@iconmarketingcomunications.co.uk 07979940526.

Marketing predictions for 2022

Crispy autumnal leaves, the first frost of the year and darker nights, all means one thing we’re rapidly approaching the end of 2021. A year like no other! But what is in store for 2022? In our latest blog we take a look into our crystal ball to predict what to expect for marketing in 2022. We’ll be looking at Google updates, social media and traditional marketing amongst other factors. Read on to find out how to get a head-start for your business in 2022.

1.      Another Google Update

In early 2022 we’ll be seeing the rollout of MUM (Multitask Unified Model) the AI model update is set to make complex search results more simplified. This is one of many steps taken by Google to make searches easier for users. There have been minimal changes to search engines over the past 20 years although we have seen many enhancements and updates however the core rules of how a search works have remained relatively unchanged. The innovation of MUM promises to bring more results of what we want without having to make several searches. MUM will inevitably have an impact on SEO with keywords taking a backseat to whether the site answers the query written by the user.

2.      Paid Search

Pay-Per-Click (PPC) if you’re looking to create a successful online platform investing in PPC is a must, but how do you get the best results? As previously discussed, the ever changing Artificial Intelligence (AI) is fast becoming a major factor in running an effective PPC campaign. Utilise it when automating bids or looking for longtail keyword suggestions. Get social, we’re aware of the benefits of paid social advertising on Facebook and Instagram but there’s an emerging player in the marketplace Tik Tok. Tik Tok has recently formed a partnership with Shopify to enhance advertising processes with the platform. Look at integrating it into your campaigns to get ahead of your competitors.

3.      Social Media

We’re seeing an emerging player in the social media market Tik Tok. With many innovations this social network is rising through the ranks its seen an increase in users of 45% in less than a year compared to a 6% monthly rise in users on Instagram (Hootesuite). We recommend spending some time familiarising yourself with Tik Tok and bagsying your handle. We’ve seen many businesses utilising social media to sell their products. Users are becoming accustomed to this and are growing to expect this. Despite mixed feelings from users social listening is going to become even more prolific in 2022 with many businesses already utilising this tool through their chosen social media management platform.

4.      Events

With many events from networking to team building hosted online in 2021 due to the pandemic we wonder if we will see a full return to in-person events in 2022. What the past two years has proved is that its not necessary to host all events in person. The cost saving benefits of hosting events online is one of many benefits to virtual events but can you really gain the essence of an event from behind a laptop? Event organisers are certainly behind hybrid events with 64% saying they will continue to utilise virtual features at live events (State of the Event Industry Survey). Either way whether virtual or in-person we expect to see many more events hosted by businesses in 2022.

5.      PR

Although there are many developments in PR due to our advances in technology, Icon believes getting back to basics is a must in the world of PR. Don’t blanket email journalists, personalise your emails. Write engaging ‘newsworthy’ content whilst building the credibility and reputation of your business. As we all know in the digital world ‘content is king’ so incorporating your PR strategies into your website will reap rewards in 2022. As will online reputation management. Are you responding to reviews? Are you dealing with negative comments and reviews? Buyers are increasing interested in these factors. We also believe there will be a continuation of influencer marketing. Finding influencers who are aligned to your core values will help you gain maximum exposure for your brand.

Most importantly like every year the best way to effectively execute your marketing campaigns in 2022 is to plan. If you’d like to talk to Icon about your marketing for 2022 or anything else, feel free to get in touch kiesha@iconmarketingcomunications.co.uk 07979940526.

Black Friday: Cannibalisation or Propagation?

I worked in marketing for a leading hospitality business for many years so Black Friday is a term that I have been familiar with for some time. Back then it was an industry term to describe the last Friday before Christmas when typically, we would see the most Christmas party bookings. Since then, much like Halloween and Baby Showers we have taken the lead from our American counterparts. Black Friday has become a day when retailers heavily discount their products to encourage consumers to purchase, giving businesses a much needed pre-Christmas boost. We’ve even gone one step further with Cyber Monday. But does Black Friday actually boost businesses sales or are we simply cannibalising existing sales? In my latest blog I’ll take a look at the benefits of Black Friday vs the potential pitfalls.

Black Friday this year will fall on Friday the 26th of November. So, if you’re looking to capitalise on this day, you’ve not got much time to get your ducks lined up. Last year we spent an estimated £6 billion on Black Friday and Cyber Monday. Forecasts suggest that this year spending will be down by 6% with the average Brit set to spend £275 (finder.com). So why the sudden downturn in projected sales? The easing of lockdown and vaccine rollout may hold the key to the predicted decline in sales. With life almost returning to pre-pandemic status consumers have more demands on their income. Money is getting spent on socialising, commuting and non-essentials. Concerns over supply chains may also have some bearing on consumer behaviour this year.

So, what does this all mean for your business should you engage in Black Friday promotions or hold your nerve and maintain your retail prices. Black Friday has many pros and cons.

Pros

1.      An increase in traffic and sales

Consumers have become savvier due to Black Friday and Cyber Monday and are actively seeking out bargains during this period. Black Friday and Cyber Monday focuses shoppers on a set period of time meaning more sales and traffic for your business.

2.      A chance to offload stock prior to Christmas

Black Friday is a great opportunity to clear older stock and introduce new lines prior to the Christmas rush. This is particularly key if your business is in electronics or fashion.

3.      New customer attainment

Finding new customers can be tricky and costly. Black Friday and Cyber Monday give you an opportunity to get in front of new customers who you can then retain if their experience is positive then they will come back to you.

4.      Incremental sales

Customers are well trained and are keen to purchase around Black Friday. They may be attracted to your business due to discounts however they may go on to purchase full price items.

5.      Fulfilment of orders prior to Christmas

With ongoing issues with delivery getting sales in early may prove beneficial to retailers as you can ensure customers receive their items in good time prior to Christmas.

Cons

1.      Pressure to discount

As I’ve already mentioned customers have grown to expect discounts around Black Friday and Cyber Monday. This may be difficult for some retailers to achieve.

2.      Negative impact on sales margins

Although sales are likely to go up, profits will go down. You need to consider whether offering discounts is actually commercially viable. If not then you may wish to withdraw from offering deductions however, will your competitors be offering a promotion?

3.      Increase in returns

Black Friday can encourage impulse purchases, the problem is whether customers will then return the items.

4.      Overcrowded competitive marketplace

Lots of retailers will be talking about Black Friday so getting your voice heard above all your competition can be problematic.

5.      Delayed sales as customers are waiting for discounts

We’ve all grown to expect discount around Black Friday so teasing customers to purchase outside of this period will be tough. Its likely that you will see a drop in sales running up to Black Friday which will have a negative influence on your bottom line.

The Black Friday and Cyber Monday phenomenon looks like its here to stay despite the difficulties it poses to retailers. Its important to consider all the pros and cons before embarking on discounting your products. The impact on margins is easier for a larger retailer to absorb but for smaller businesses it may prove challenging. But equally the opportunity to acquire new customers during this period is beneficial. The key to success is ensuring that promotions are carefully managed to ensure that margins are protected whilst taking advantage of the increase in customers looking for a bargain.

If you’d like to talk to me about your marketing prior to the run up to Christmas or anything else, feel free to get in touch kiesha@iconmarketingcomunications.co.uk 07979940526.