For a Chief Marketing Officer (CMO), building your brand is incredibly important. How do you stand out in a sea of competitors who are targeting the same customers and aiming for the same profitability?
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Alicia Tillman, CMO of SAP, explains how to create a world-class brand. SAP has just been named the 16th most valuable brand in the world (ranked by BrandZ) moving up five spots in two years and increasing its brand value by $12 billion. Watch the video to find out how she explains her company’s brand success.
According to Alicia, there are three main factors to work on in building your brand: authenticity, empathy with your customer, and delivering your brand message effectively. The first, authenticity, requires you to understand your purpose as a company. For SAP, that means staying true to the vision of helping the world run better and to improve people’s lives. It also means thinking beyond the day to day and how you work to do good in the world. When given a choice between brands, consumers will choose the one that’s focused on improving people’s lives.
The second factor lies in the difference between sympathy and empathy. For Alicia, the latter matters more; it means understanding what your customers are trying to solve and effectively positioning your products to address those problems.
While every CEO says its company puts the customer first, in reality there is a significant gap between the kind of customer experience the company believes it’s delivering and what customers feel like they’re receiving. And bridging this experience gap plays a significant part in a company’s success. To create brand equity and overcome the experience gap, your brand marketing and brand marketing strategy must speak to customers in human terms.
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