Bootstrap Business Seminar 5: Creating an Awesome Brand
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This document discusses how brands can build strong connections by leveraging "mavens", or highly connected influencers. It provides the following key points: 1) Mavens have large social networks averaging over 600 connections and will comment on brands they believe in multiple times per year, reaching over 150 people in their networks. This can lead to thousands of impressions for a brand. 2) Mavens drive purchases, having a minimum 120% greater purchase impact than regular consumers despite being only 10% of the audience. Their messaging frequency and influence on purchases is much higher. 3) Successful modern brands say less than they do, focus on purpose before profits, and engage both internally and externally to build strong
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Bootstrap Business Seminar 5: Creating an Awesome Brand
- 1. freeing mavens since 2013
- 5. SH*T BRANDS HAVE BEEN ABLE TO HIDE FOR 50 YEARS BEHIND THE TV...
- 6. HEY? WHERE DID YOU GET THOSE AWESOME ARROWS?
- 7. WHAT BUILDS GREAT BRANDS? • When the brand promise & business are aligned • When the behaviours are evidence of the beliefs
- 8. MAVENS DRIVE CONNECTIONS Average Social Network Size >600 Connections + 580 10 mavens will comment on a brand they believe in at least 4x a year making a proper connection with 150 people in their networks Therefore 1 Maven inspires other Mavens and those on Maven periphery. This leads to up to 6,000 high quality impressions Sources: McKinsey Quarterly WOM 2010, Bain “Making Social Media Work” 2011, Boston Consulting Group, Various
- 9. MAVENS DRIVE PURCHASES 3x 100 PEOPLE 10 MAVENS Message frequency 1.2 x Mininum 120% greater purchase impact with 10% of the audience Sources: McKinsey Quarterly WOM 2010, Bain “Making Social Media Work” 2011, BCG At least 4x more impact on catalyzing a purchase in others 150 x
- 10. Brand aren’t logos. Brands aren’t taglines.
- 11. What’s the value of a brand? 90p £3.20
- 12. Average brand contribution to market cap Brand Assets Brand Assets 15% 32% 68% 85% EMERGING MARKETS ESTABLISHED MARKETS source: BusinessWeek, BrandZ, Interbrand
- 13. The end goal of a purposeful brand? To endure. "Making an enduring company, is both far harder, and far more important than making an enduring product" - Steve Jobs
- 14. Because doing this is not easy. Often it is rubbish.
- 15. DOES IT? REALLY? COME ON MBAs...
- 16. 5 RULES FOR MODERN, AWESOME BRANDS
- 17. RULE #1: SAY < DO
- 19. RULE #2: PURPOSE BEFORE PROFITS
- 20. BRANDS WITHOUT PURPOSE ARE DEAD
- 22. 22
- 23. RULE #3: IN / OUT / SHAKE IT ALL ABOUT
- 24. ARRHENIUS PURPOSE Dream – the higher purpose To be a catalyst for society to create a world worth inheriting Our focus Beliefs (what ideals do we share?) We believe: • that growth is not incompatible with sustainability • in good faith • in making money • in being generous with counsel & action • in first hand experience & expertise • that members are never alone Fight self-inflicted damage by slowing climate change Character (what is a perfect employee like?) Arrhenius members: • Get stuff done • Are intellectually honest • Are brave • Are vocal • Can be trusted • Are always decent & polite
- 25. 3Ps Innovation Framework 1) Is your idea PORTABLE 2) Is your idea POTENT 3) Is your idea PERSONAL
- 26. RULE #4: LOVE EMOTIONS INPSIRED BY INSIGHT
- 28. RULE #5: MAKE THE WORLD BETTER
- 30. 5 TENETS OF CREATIVE LEADERSHIP
- 31. #1 LET THEM PARTICIPATE
- 32. Participation: The Great Equalizer of Ideas & Media Passive Active
- 33. Me, You, Them & Us: Audiences from 1 to Many Niche Mass
- 34. Participation: The Great Equalizer of Ideas & Media
- 35. #2 BE HUMAN
- 37. #3 FHS
- 39. #4 GO BIG OR GO HOME
- 41. #5 SEEK DISRUPTION. FORGE REFINEMENT.
- 43. GO BE AWESOME freeing mavens since 2013