August 18, 2021 / Marjoram
Weather forecasting has really been through an evolution. While the Farmers’ Almanac still has space on many a dusty bookshelf, modern meteorology uses different facets of technology for complex data modeling, weather satellite data analysis and historical temperature range review. The combination of these components, or ingredients, improves prediction accuracy and presents a higher level of value for those channels that decided to add this to their broadcast. So, what if you could apply this same approach to marketing your products and services?
Traditional branding and marketing strategies use assumptions based on the experience, knowledge and judgment from (typically) one perspective. While this works well for defining and discussing your corporate brand, this can create a gap between the “corporate brand” and the products/services that marketing and business development teams present on the front lines. Your “ingredient” brands, or those products/components that you offer to the customer may need their own brand story to communicate value to the customer. Ingredient branding can help add more value to both the ingredient or the corporate brand by making the product/service seem superior to its non-compound competitors.
Multiple perspectives are essential to building a realistic and remarkable ingredient story. It’s about bringing together insights from marketing, sales, business and product development to shift the overall thinking from focusing on what you make to bringing greater clarity and certainty to the impact that can be witnessed from what you make possible. Ingredients brands can help surface benefits such as better, up-front understanding and appreciation of the costs, schedule and associated risks, making the stories that you share get noticed because they are told through the lens of the corporate brand to the customer in the language of their consumer.
Ingredient branding fully supports those go-to-market strategies that need both brand visibility and accessibility to allow consumers to drive your customers to make better decisions. You are able to develop better strategies by capturing insights on future trends from a variety of key stakeholders, analyzing customer then consumer benefits to land on how your brand can actually impact outcomes. Take advantage of sharing your story directly to a consumer audience through social and digital media channels to both educate and create urgency versus having to wait for the industry trade fairs or conference. From putting together the benefits to describing the actual value to the people that matter, ingredient branding can become as mainstream as watching your local weather forecast to decide whether to grab a light jacket or just your sunglasses to head out for a walk.