Are window companies playing Russian roulette with their brand?
Andrew Scott, managing director of Purplex Marketing, believes many companies are forgetting the two most important marketing principles.
In 2017 the value of Google’s brand rose to $109 billion, while the company continued to use direct mail to promote its online advertising services.
Amazon’s brand value grew a staggering 53% to $106 billion, while the online retailer became one of the biggest advertisers on traditional TV over Christmas.
In a world where advertisers are competing harder than ever for our attention, the most successful companies know that success relies on two core principles: the power of their brand, and their ability to connect with customers wherever they are and whatever they are doing.
A recent scientific study showed humans consciously process less than 0.001% of information that our brains receive. Today, we are busier than ever and continuously bombarded with information and marketing messages across more channels and devices than ever before. In this multi-channel, data overload world our internal filtering system means we are more likely than ever to trust brands we recognise, and more likely to buy when we’re exposed to the same messages across multiple channels.
Never before has it been more important for companies in the glazing industry to focus on their brand and the way they connect with customers. Some companies have focused solely on the short-term gain – such as lead generation – and starved long-term investment in their brand, reputation and customer engagement strategies.
Having a strong brand does more than attract customers. It builds intrinsic value into your business that makes it more desirable. Customers will spend more with you, employees want to work for you, and potential investors or a buyer will pay more for your business.
The latest Window Industry Report from Insight Data showed a stark reality: some companies are going from strength to strength while others are sliding backwards. The companies winning market share, despite a volatile market, are investing in their brand and connecting with customers across more touch-points than ever before.
The last few years have seen more and more suppliers introduce networks, dealerships or registered fabricator or installer schemes in a bid to secure customer loyalty and drive product volume.
Being part of a ‘club’ can bring many benefits such as marketing support or free sales leads. But relying on a supplier’s own-branded literature, having them build your website, or help with your marketing activity can erode your own brand identity, slowly impacting sales and margins over time, and could actually damage your business in the long-term.
The problem is one of brand recognition; you don’t see Apple advertising the Intel chips in their Mac computers or Samsung screens on their iPhones. Selling a supplier’s products is one thing, but when a supplier’s brand or their network/scheme detracts from your own identity it can devalue your entire business.
Given the sheer volume of marketing messages bombarding consumers every day, it’s easy for your own brand to get lost among all the ‘noise’.
Building a strong, recognisable and trusted brand doesn’t happen overnight. It needs to be authentic and it requires long-term commitment and investment.
Working with a specialist marketing agency such as Purplex can help you build such a brand and grow your business more successfully and profitably than you ever thought possible.