In this Member Workshop with 369Konnect, attendees will learn how to measure the true value of a brand.
Event Information
The world has changed...and we’re not talking about COVID. Back in the 70s, almost 85% of the value created in our economy was from tangible assets like property, plant, equipment. Today, that number is 15%. Intangible assets like brand, reputation, data and intellectual property now account for more than 85% of the value created in the economy.
While organizations should be making intelligent investment in amplifying intangible assets, the two key players – finance and marketing, remain at odds because one is focused on advertising and communications while the other lacks the tools to measure true brand (not marketing) ROI.
This is a must-attend workshop for you to understand how brand economics can provide both parties with a new way to measure success – one that is financially responsible and allows marketers to be creative.
You'll leave this workshop learning:
- The true differentiation of brand vs. marketing vs. reputation, and deeper customer engagement
- The realization that intangibles such as data, reputation and brand generate more value in today's economy than tangible assets
- How to create a brand economics playbook for your organization
Source: https://www.oceantomo.com/intangible-asset-market-value-study/
Workshop Video
Thank you for your interest in our event! The event has now passed, but we are pleased to share that the recording is available for you to review. Catch up on all the valuable insights and information shared during the event. We hope you find it informative and useful.
5:36what I had experienced in my finance world right when we when we look at Lululemon
5:41today we see it as this brand that has this amazing cult following in the
5:46marketplace but it was something that they had to build up over time Lululemon when I was with them and in
5:54the culture side of Lululemon uh I was there you know long before chip Wilson took it public uh even before we had
6:01private Equity investment into the company but what was really remarkable about Lululemon and it's it's growth
6:09trajectory was that they didn't spend any money on traditional marketing and
6:16advertising to think about that for a second a brand that builds a cult following that we see today spent no
6:22money on marketing and advertising to get themselves to that point instead Lou Lemon developed two pillars
6:29of their brand a community being one of them and culture being that second pillar and
6:35that's where I worked it on the culture side and it was amazing because uh you know
6:41without advertising without traditional marketing without discounting we weren't
6:46buying our customers right we were creating true brand Advocates that were
6:52willing to pay the price premium right you could buy a you know a thirty dollar
6:57hoodie at any one of the competitors or you could spend 130 dollars and and buy
7:03a hoodie with Lululemon and that price premium was was defensible in the
7:10marketplace and it was amazing to really kind of spend that time with this company and grow and from there I ended up actually
7:16jumping ship into brand valuation to understand how do we actually kind of quantify these feelings that we have for
7:23Brands and I had the pleasure of of running strategy and working with iconic
7:28Brands like Cirque du Soleil Facebook with their Acquisitions Canada Goose sick kids Canadian Tire had a whole host
7:36of other companies um on the global scale and and one of the things that I always
7:43kind of get when I show this slide because it's a it's a point of Pride for me but it's always that fear of you know
7:50but those are billion dollar Brands and I might not be a billion dollar brand so how does this apply to me
7:57and and one of the things that we have to realize about these brands that were shown on that slide and and all of us is
8:06that the same things that keep them up at night are the same things that keep
8:11us up at night when it comes to growing and defending our place in the market the only difference between the two is
8:18that they just have a lot more zeros on their financial statements than we do but that doesn't necessarily mean that
8:25they're always making the right decisions or that the wrong decision isn't going to cost them dearly and it
8:31could possibly be the end as we run through today's deck
8:38um the one thing I want you to keep in mind is every time we talk about brand we're not actually going to be talking
8:43about the look and feel because brand actually truth well true brand goes
8:49beyond marketing and advertising so before we dive in to kind of show
8:55like around the case study of how you go about measuring and getting true brand Roi there's a few things that we need to
9:04level set off and the first being that intangibles are
9:10the new raw materials right and if we look at
9:15the composition of the S P 500 back in the 70s right the majority of the value
9:21created in the S P 500 was from tangible assets right things that you could uh
9:27touch piss throw kick drop and they made a sound right property plant equipment
9:34steel Machinery that type of thing and if we fast forward to today and if
9:41we look at the composition of the s p s p 500 and the and and the assets that underpin it those numbers have flipped
9:49to today right 85 of the value of the S P 500 actually comes from intangible
9:57assets right things that we cannot hug and kiss and throw and when we drop them they don't make any sense
10:03right and some of those intangibles are things like patents right
10:09um and it's always interesting to see how we relate to like intellectual property
10:15right the the you know the coding for the iPhone may be registered with Apple
10:21for several hundred thousand dollars but it brings in well over several billion dollars of Revenue to the organization
10:27right there's a there's a mismatch so the value is there but it's not fully fully recognized
10:34there's also value in data right I mean Google's entire business system as well
10:40as a lot of us really leverage data and the true value of data to create
10:46unbelievable amounts of value and to generate revenue for ourselves right so we know that data has immense
10:53value even reputation is incredibly important we see a lot of organizations acquiring
10:59other companies solely on the base of reputation and and it's so interesting I spent a
11:06lot of my time actually in the U.S working with U.S companies and and and dealing with the SEC and and in a lot of
11:13the discussions the one thing that comes up with a lot of financial regulators and Banks is that they're not worried
11:19about things like the traditional risk elements like currency risk or counterparty risk the number one risk
11:27element that they're worried about today with a lot of organizations is
11:33reputational risk right because that has a huge impact on the organization the
11:39value at risk is high and of course we know that relationships are radically important and even
11:45trademarks right so this rise of intangibles has happened over time and
11:51it's really taken over how we operate today that's why when we look at the largest
11:57retail store that's out there it doesn't own any of its own inventory the largest taxi company doesn't own any
12:05of its own Vehicles right they leverage intangibles to really Drive value for
12:11themselves today Airbnb the largest accommodations provider doesn't have any of their own real estate
12:17right and if we look at the value they create you know based on uh 2021 Revenue
12:24Airbnb was larger than Marriott Hilton InterContinental Choice Windham American Airlines and the International Airlines
12:30group combined right and then think about how many
12:35assets like physical assets and Resorts and buildings and whatnot that Hilton and Marriott and everyone else has to
12:42actually generate all this value but Airbnb can surpass them same thing with Tesla right they don't
12:49produce the most number of cars but they're still the most valuable auto manufacturer out there
12:56foreign we even see intangibles
13:01um kind of come into light during the poet crisis right uh when covet hit we
13:08saw air travel just absolutely plummet and um and there's a lot of airlines out
13:14there that needed financing and funding and so one of those Airlines was United Airlines right they were able to raise
13:22five billion dollars simply through their Customer Loyalty program right
13:27completely intangible and one of the interesting Parts about this is when you actually look at the
13:34value of the airline relative to its um Customer Loyalty program
13:40United Airline is a 10 that has approximately a 10 billion dollar market cap
13:45their loyalty program this intangible asset that's heavily branded and brand driven is worth 21.9 billion dollars
13:54that's like that's staggering right it is unbelievable it is worth more than
14:00their all the physical aircraft put together right
14:05same thing for Delta their market cap was 20 billion but their loyalty program heavily heavily brand driven program 26
14:12billion American Airlines group six billion dollar market cap and their estimated loyalty program is
14:19over 25.5 billion dollars right this is truly unbelievable and
14:25it's really great representation of where we are to in today's economy relative to you know the 70s and even
14:33earlier the ingredients that we use to build great brands have changed and they've
14:41changed radically and what's interesting about this is that if you start to look at the only measurement system that we
14:48have for how do you actually determine value and value brands or understand you
14:53know how you should invest into Brands and the return you get is accounting right we just there's this Gap Gap
15:00accounting and what you start to realize is that Gap accounting doesn't actually isn't
15:07the right yard stick to be able to measure and encapsulate and to quantify all of these things
15:14the next thing we have to level set on is that brand is like an ecosystem
15:19right just like the ecosystem of earth right there are countless things which
15:25we don't interact with necessarily on a day-to-day basis but exist and are
15:31incredibly important for the health of us here on Earth and equally so
15:38um you know for Brands and other organizations in the market
15:44so if we start to break this down what we start to see is that at its very core we have certain brand elements
15:53that we know are internally controllable and typically externally visible right
16:00and these are The Usual Suspects of Brad when we talk about brand is what we mean sometimes right marketing customer
16:06service the channel products and even like packaging kind of falls into that
16:13um definition of brand right that's that typical definition of Brands uh but we
16:18call that little B brand the simple B when we say the word brand
16:23and there are elements which kind of reside Above This that are internal so you still control them
16:30internally but they're not as visible but they're incredibly impactful
16:36with respect to your brand right your sales strategy Logistics culture right
16:42culture is one of those things which is uh intangible extremely valuable uh to
16:48organizations today your Trade Secrets intellectual property if I think about like Amazon marketplace
16:56right is this amazing platform that I go and like shop on and
17:01um and I pick up my phone I order something and you know I'm expecting that my doorbell is going to ring the
17:09next day or the day after if I were to boil down what Amazon's
17:14brand is and the most valuable part about Amazon's Brand number one obviously I'm going to say it's its
17:20platform but I'm going to say it's it's logistics and distribution systems and intelligence that runs around that
17:27right I'm not going to be offended if Amazon changed its logo from that orange
17:32smiley face to a blue smiley face right that's not brand that's branding that's
17:38just the the logo and the outward representation of their brand but their true brand itself
17:45is is fundamentally based on something that's incredibly deep within their
17:50ecosystem right but makes everything flow extremely well so you have a great
17:55experience Amazon's brand is not its logo Amazon's brand is its logistics and
18:01distribution intelligence systems and then there's this external layer
18:06that brand kind of uh brand touches as well uh things like customer sentiments how
18:13people think and feel about your organization the products and services
18:18um you know how you're rated and ranked industry Trends even economic conditions like coveted all of these things matter
18:26and impact your brand a great example of that is like Forever 21 right covid came
18:32and Forever 21 stayed in Forever 2020. right it was never able to kind of make
18:38it out because it couldn't bridge that brick to click model that was expected of the brand in the marketplace
18:46and so if we grab all of these things together but we need to level set on is that the
18:51entirety of this is brand that's that Big B definition of brand right there's
18:58no simple saying that I have for it it's messy it's large it's an ecosystem
19:03there's a lot of working parts to this and together all of it is your rare
19:10and this is why simply changing your representation in the marketplace doesn't automatically improve your
19:17financial outcomes right Yahoo can go from one shade of purple italics to bold and back and
19:24forth over and over nothing fundamentally changed it is still a brand that's being eroded
19:30in the marketplace every single year it's rather different when GM changes
19:37their logo because it's a it's a representation of um of something that's fundamentally
19:42changed about their organization uh the fact that they're moving from internal combustion engine vehicles to EVS right
19:49so that representation is okay and remember when we talked about culture and the value of culture you
19:57know there's some amazing Brands out there that we look at and we start to realize culture is a huge driving force
20:02of their value right so if you think about you know how do you actually improve brand Roi you got to figure out
20:08what's the most important part and invest into those things to drive Financial outcomes and then you'll have
20:14amazing and positive Roi one of those is we looked at IBM and
20:21Microsoft and and the chief diversity officer of IBM ended up leaving and they
20:26took us very similar role at Microsoft and IBM ended up suing Microsoft and he
20:32was it was so interesting when you start to actually look at how they defended
20:37um you know this move in the market IBM actually said that it's diversity
20:43strategy so it's not even its overall culture strategy it's how they do diversity and how what their recruitment
20:50tactics are how they report the kpis and that type of stuff conferred to them a
20:55competitive advantage in the market right and if it got out it can impact Innovation cost competitive harm we've
21:01never heard companies speak about um diversity in this way and how
21:07material it is to their success in the marketplace Microsoft actually agreed
21:13with them and says that diversity inclusion is a business imperative right it can foster greater Innovation they
21:20said it's increased satisfaction productivity and even corporate profitability right so if you start to parse out
21:27through what is the most important or one of the most important assets to Microsoft and IBM when it comes to
21:33generating profits productivity outcomes culture specifically diversity and that
21:40strategy is one of the most important things but if you look at this strictly from an
21:45accounting perspective it does a poor job of actually measuring this
21:51right because because when you spend on your employees it's an expense there's no there's no
21:57um there's no classification of culture you can't find culture on the balance
22:03sheet right you can't find assets uh sorry diversity as an asset on the
22:09balance sheet in any way the next thing we need to quickly just level set on is that when we talk about
22:15brand we're actually talking about going beyond the traditional silos and the
22:21fiefdoms that are built in organizations right brand is truly a team sport
22:27when you talk about brand Roi and measuring Roi one of the traps that we get into is that we we become very
22:35myopic right we actually end up talking about brand and our investment into brand
22:41and specifically marketing as really just the digital mix right how
22:48much we spent on ads SEO the website LinkedIn Facebook Twitter whatever those things may be but what we fail to
22:55realize is there's a bit of an Inception that happens here your digital mix is only just one slice
23:03of your media mix pie right you've got out of Home television
23:09radio and all these other things that are part of this larger media mix plot and digital is just one slice of that
23:16and then you realize that hang on a second my media mix is just one slice of My overall
23:24marketing mix model itself there's other things out there Beyond advertising right there's your channel
23:31Partnerships events PR promotions direct response all that other things fall into
23:36your marketing mix and then there's still yet one more pie
23:42right your entire marketing mix ends up being one slice of your overall brand
23:50experience right you've got the product there you've got patient care or customer care
23:55or operations HR whatever that may be as part of this overall pie itself
24:04so when we look at you know having the best brand Roi we really have
24:10to just move away strictly just from marketing mix modeling itself
24:15if you had a hundred percent return on your marketing mix
24:21that may apply only just to a portion of why people are buying or engaging with
24:27your brand customer care may be incredibly important
24:32right this is why we have to expand that definition of brand to the entire
24:38organization as a whole and we always see when this goes wrong right United Airlines I mean they had
24:45the best marketing out there fly the friendly Skies right and and then
24:51operations like hey guys there's this thing called overbooking a lot of people
24:56don't show up for their flights we can actually sell more and finances like hey we make more and and legals like we
25:03maybe let's write some sort of disclaimer on our tickets that indemnifies Us in some way
25:10but we all know what happened right you know someone uh ended up getting uh beaten up on the flight dragged off the
25:16plane and the impact on American Airlines was a market cap drop of 950 million dollars
25:23within 24 hours right and yes American sorry United
25:28Airlines was able to build that back up over time but their place in everyone's
25:33consideration set was was diminished a little bit as well
25:40right so it ends up being um you know this is a great example of
25:45of not everybody playing together or understanding the brand truly is a team sport we can't just say fly the friendly
25:52Skies if we're not actually delivering on that experience and if you're investing a lot of money into this
25:57marketing but operations isn't a line and customer cares isn't aligned then we're going to end up having a lot
26:05of uh negative outcomes there so what I want to do is I want to run
26:11through the basics of a brand economics
26:16framework and and and then show you how you can start to apply to yourself and
26:22how we applied it to uh one of our one of our clients so you can actually see
26:27this in uh in operation and brand economics is is very straightforward it's actually something
26:33that you live every day and perhaps you don't fully think it through but it's it's quite common
26:39there's four pillars to it the first pillar is interactions right this is all about identifying all
26:46of the touch points that exist in the customer Journey absolutely anything that is generated by you so it could be
26:54um in any of the marketing material your sales team whatever that may be but those interactions
27:01generate perceptions how people think and feel about your
27:07organization and those perceptions stimulate behaviors
27:13right will they buy from you will they not buy from you right not buying is a
27:18very important behavior that needs to be measured as well and those behaviors have Financial
27:25outcomes it's not that it's not the perceptions have Financial outcomes behaviors are the ones that have
27:31Financial outcomes and the biggest challenge that we have today is that most of us only end with perceptance how
27:38we think about it am I willing to consider a brand versus that I actually purchase or did I take actions to
27:45actually purchase so you can actually start to build out
27:51certain components of your brand ecosystem it's always interesting to see how this works because every single
27:57brand is going to be different right and even if you look at competitive Brands within the similar
28:02Market they're going to be a little bit different BMW is going to go to market differently than mercedes-bans
28:10and so first we have that first Billet which is interactions and and it could be all of the assets or all of the the
28:17the the functions that you have in your organization your sales team marketing
28:23um customer service product whatever that may be right and that is done by function
28:30or you can start to actually identify by touch Point what are the things that are
28:36actually out there and you are creating that people interact with social media trade shows reviews
28:43Etc and once you've done that you can actually start to identify all of the
28:50perceptions that exist not just around your brand but in the industry on how
28:57people purchase and interact right and so these are just an example of perceptions things like I feel
29:04motivated or you know you're trustworthy I feel valued it saves me time whatever those may be
29:11and you can then also start to identify the behaviors that exist around purchase
29:18and it's always interesting because there are some behaviors that are more valuable than others if we're uh if we
29:26are selling uh cars right or a car dealership one of the most important behaviors you
29:33can exhibit as a as a as a customer of that dealership is did you go and
29:39schedule a test drive right that is incredibly important right and maybe a behavior before that
29:47is did you go and price the vehicle out on the website right so there are certain behaviors that happen and some
29:54are more valuable than others and then there are certain Financial outcomes
30:00and what's interesting about Brad economics and by the time you get to a point where you can actually start to
30:07quantify and and start to link all these parts is that if there's something that you
30:13want to Moneyball so something that you want to amplify you can actually start to trace it
30:18backwards throughout the ecosystem so if there's something happening whether it be good or bad you can work backwards to
30:25figure out why is this happening and can I improve it in some way so I can invest into it in a smarter way
30:33so here's an example imagine that you wanted to Moneyball
30:38this thing called met with a salesperson this is the most important behavior that you wanted to actually get your
30:45customers to exhibit you're able to actually conduct market research and Trace back to figure out
30:52what are the perceptions that drives someone to meet with a salesperson
30:58right in this case we found that it was trustworthiness and feeling valued and just just this example
31:05but what are the interactions that need to be interacted with or the touch points that need to be interacted with
31:12that drive those perceptions overall trustworthy and feeling valued and in
31:17this example was you know maybe it's a trade show or maybe it's the website or something in social media or direct mail
31:24or whatever that may be but once you understand the cause and effect between all of these things
31:30you're able to actually answer the question if you had only one dollar to invest in
31:37your brand do you know where to invest it because this is the fundamental side for the fundamental question of brand Roi right
31:44Roi is about ruthless prioritization understanding where that dollar goes and
31:50how it amplifies into more so what I want to do with you is
31:55actually walk you through a bit of a case setting to show you how this can be
32:01used by leveraging market research and a lot of us here already do market
32:08research right and and and some of it is to different like to varying degrees of
32:14sophistication and that's okay right and this is where saying maybe we need to run a deeper Workshop here to
32:21kind of run through how do you amplify your research and use data to improve
32:26brand Roi or to be able to measure brand Roi in a in um in a deeper way
32:35so the ultimate outcome here is to figure out who you need to talk to what to say and where to say it and that is
32:42going to be the Playbook that you have right that is what's going to generate um amazing outcomes so here's here's
32:48what happened we were working with a client that had this digital platform right they were in
32:53the tech space um they were looking to uh to grow quite
32:59aggressively in the market they were only growing about like three to four percent every single year and and they
33:04said you know what we need to actually expand um they've got a lot of investment
33:09dollars coming in and they need to hit somewhere around 20 right and this this organization was really
33:17sales driven they had a lot of sales people and what they realized is even if we doubled our sales force we couldn't
33:23double our Revenue it just didn't work that way right so we have to figure out how could
33:29you actually with the current budgets that you have reposition yourself in order to have better brand Roi increase
33:37your output while having your input being the same
33:42and so what we did was we went out and sourced uh information that they already
33:48had right for some of the interactions and perceptions we we used uh primary
33:54research right we launched research um for everything else we use all of the
34:01existing data like the SEO data third-party industry reports things that
34:06were available uh for free to everyone else in the industry
34:12right a lot of data exists it's about how you actually bring it together and Stitch this to to create a certain
34:19mosaic and so what we did was we actually went
34:24through some of those brand economic pillars with them and tried to figure out how can we improve
34:31so one of the first things we did was we looked at their brand perceptions right
34:36and these are some of the things that were relevant to them in the industry and it's so interesting because if you
34:42looked at the very bottom of this the current brand pillars the four things that they marketed they
34:49spoke about the position on was this notion of value easy to integrate ranked
34:54Hollywood industry and they have a wide range of services and some of us are probably nodding
34:59because this is some of the stuff that we position off of as well and I'm not saying it's not relevant to you it may be relevant to you but for them this is
35:06what they did and what was interesting is that the majority of their dollars went into
35:12reinforcing this notion of Everybody Loves Us in the industry Gardner loves
35:17us we're in the magic quadrant and it was in their whole messages it was slathered all over their websites and
35:24whatnot so what we did was we said okay let's go and figure out is this even
35:31valuable right you're spending so much money you're investing all this money into this brand positioning is it
35:37actually generating the outcome that you desire so we went out there and we did a little
35:43bit of market research and we've all done this right how am I doing relative to my competitors
35:50and and we saw two things here number one there was an area of weakness that stood
35:56out right well I scored 20 on this my competitors scored 39 so I'm that must
36:03mean it's bad we also found that you know the data showed hey uh we're doing better than
36:10our competitors this must mean we should probably lean into our existing strategy
36:16it's working well perhaps we don't have enough information to make
36:22this decision so the next thing that we can do is actually start to look at importance
36:28right when we all do market research we can actually figure out and look at do people even care about this stuff we
36:35think that it's important right but to generate higher outcome or output or financial value we need to figure out do
36:42people care and when we started to realize here was this this notion of ranked highly by
36:49industry analysts at the very bottom people just did not care about it and there was so much money being invested
36:55into what what bubbled to the top of this notion of trustworthiness and and good
37:01service that was important but one of the things that we know about
37:07human psychology is things that we say are important aren't necessarily the
37:12things that are actually important we behave radically different everyone says the
37:18environment is so important but how many of us have actually purchased a green product
37:23and the reality is a lot of us have not right so there's this drop-off
37:29so you actually have to go back and figure out not what people are necessarily saying is important
37:36but how do people actually behave right because we know the behavior is is
37:43the the the most important aspect of purchase and here if you look at the very bottom
37:50you start to notice that when it comes to they're four pillars of brand
37:58only one of them was important every single other one the other three
38:05were at the very bottom of the list of why somebody purchased so for having
38:11this conversation of Brad you know Roi literally 75
38:17of their strategy in positioning was wrong
38:23only one of that which was 25 was correct so it's no wonder why they're
38:30not seeing the ROI that they want
38:35what's interesting is that and we're not going to go deep into this today because it's it's definitely you know um
38:42something that we need to workshop with everyone so that we could teach you how to do this is that if you start to pick
38:49out the top four that are important you can actually start to base your new strategy on this
38:56right position yourself on the things that are driving actual Behavior not
39:02perceptions and for us we found that those were this notion of
39:08forward-thinking business transformation good service and integration
39:15and what was most important here is that you start to realize that this is not something marketing owns
39:22this is something that's owned by other
39:28verticals outside of marketing itself right marketing can only talk about Forward Thinking in a credible way
39:33business transformation but good service and the number one thing about being
39:38easy to integrate that was all about customer service and customer care right so increasing Roi meant that you
39:47needed to actually go beyond the marketing function itself and get everyone on board
39:54to um to walk through and and to support you on this notion of um of true brand RI
40:02um across the organization shared kpis right so this is just one small example
40:09of how you can start to build out and generate better Roi and and short story
40:15for this for this company they were able to actually surpass their their growth goals just by
40:21keeping the same brand investment changing over how they actually invested
40:27into the organization and increasing Financial outcome that was the true grad
40:34economics playbook for themselves so you got to ask yourself if you had one dollar to invest in your
40:40brand do you actually know where to invest right this is the fundamental question
40:47when it comes to Brand Roi overall
40:52and I know we're running out of time so let me just close with this
40:58today's Marketplace has changed radically right we've we've had unbelievable
41:03changes in the economy the shift from tangible to intangibles we've had radical shifts in technology
41:10the ability for us to actually go and measure feelings and thoughts and
41:15perceptions and behaviors in ways that we've never been able to do right and if we're able to actually
41:20bring all of these together we can actually leverage intangible to create true
41:27differentiation the market and true competitive advantage and that's what's going to actually start to generate how
41:34your brand or why for all of us I just want to say thank you
41:40for your time thank you for your attention I know we have um the chat open for questions
41:47and um let me hand it back to you Taryn
41:57wonderful thank you so much for that Mark uh as Mark mentioned we're gonna open up
42:03the floor to a q a period so if anyone has any questions for Mark feel free to pop your questions into the chat
42:13um or feel free to raise your hand so that way we can take questions in the order that they're received and Mark we
42:20actually have a couple questions that that came into the chat um that I'll start to read out so thank
42:25you to those who have already started to send through some questions so the first one being can you apply brand economics
42:32to non-marketing strategy like culture absolutely yes
42:38um and culture ends up being um actually very similar to to
42:45um like kind of the other elements of brand uh you might have um specific behaviors that you would
42:51load into here for culture right uh things like did they apply for the job
42:58right if you're attracting new um new Talent understanding
43:03um the perceptions around job satisfaction um as well as you know churn and
43:11um and engagement and volunteerism and things like that all of the things and the variables that are important to uh
43:18building an amazing culture and then you can actually start to load in not things like the sales team and
43:23marketing and things like that but you can actually start to test what you offer your employees and how that leads
43:31to Greater engagement and and tenure uh volunteers and things like that and that
43:36could be elements like obviously the salaries being one of them certain types of benefits the atmosphere in the
43:44organization itself right how it's laid out um you know meal plans things like that
43:50and you can actually start the test now how do interactions between these things
43:56lead to the perceptions around the satisfaction of your job and your role
44:01as well as does do those things lead to job satisfaction and reduced churn
44:09and increase volunteerism things like that as the start of building an amazing
44:14culture great great answer uh we've got another
44:20question how much data is required for some companies that don't feel like they're data rich
44:27yeah great question um there's a lot of data I think a lot of
44:34companies are are data Rich they think that they're not harvesting a lot but
44:40there's there's actually a lot of data there especially if you've got your your customer
44:45um you know CRM that's in place um you know who they are you know where they are
44:51um you know how often they purchase for if they haven't purchased write an abandoned card that type of thing and so
44:58all of that data already kind of resides with you and you don't need a lot of points of data you just need a an
45:05intelligent way of stitching together all of these points of data and so
45:11um again the beauty of this is that technology has changed uh the access to
45:17um you know all of these what used to be complicated algorithms which today are offered in countless pieces of software
45:24is actually quite accessible by a lot of people um so I think organizations are
45:29definitely data rich I think where a lot of organizations struggle is launching
45:34primary research right launching your own surveys because that can get expensive fast and so the best way to
45:42kind of circumvent that is survey your existing customer base right you know exactly who they are
45:49you've got their contact information and if you reach out in a very respectful way you I think you'll get some amazing
45:55answers back from them of why they purchased and why they didn't purchase
46:03great okay and we have uh we actually have a few questions um that came through all sort of along
46:11the same lines with respect to a copy of the workshop recording as well as the presentations so with respect to the
46:18workshop recording um stay tuned everyone that will be made available to uh all who registered or
46:24participated in the session but with respect to the presentation so what you
46:30walked us through this morning Mark is there a way for everyone in the audience to get a copy can they reach out to you
46:36directly uh if they'd like to have a follow-up conversation or again get their hands on the material what would
46:41be the the best way for for them to be able to facilitate that absolutely shoot me a message
46:47um you can link be on LinkedIn shoot me a message and I'll get you a copy of the presentation
46:53beautiful beautiful okay we've got some more questions coming into the chat
46:58thank you everyone again for the questions that are coming in feel free to again pop the questions into the chat
47:04if you'd like or if you'd like to personally ask Mark feel free to use the raise hand function on Zoom so we can uh
47:11take the the questions excuse me in the order that they're received so to roll into the next question when it comes to
47:18intangible perception if you're building your team and Company sometimes we lack the people power to really fulfill The
47:25Branding what do you recommend in this case as The Branding may not yet be fully aligned with the company with what
47:34the company can produce as it is still growing you know what uh great question
47:40everybody focuses so much on the branding right so the look and feel and all that
47:47stuff and forgets to focus on the brand which
47:52is like the personality and attributes and the traits of the organization and
47:57dial those up before you start you know focusing so much on the on the on the
48:04like the The Superficial side right um and so I don't see that you know
48:10you're at a disadvantage uh because you're not focusing on branding
48:16um as long as in your material that's going out or the website that you do
48:21have you're really talking about the attributes that are most important to your target market
48:28how it looks is irrelevant because your people will find you and it'll resonate
48:33with with them right um whatever your value proposition is so
48:39I wouldn't worry so much uh you're not at a disadvantage some of the most
48:45um iconic Brands and the most impactful brands are doing just this and they are you know they have the big Power
48:51right but uh going Beyond uh The Branding if I'm understanding your
48:57question going Beyond The Branding and and just talking about the things that are most important
49:03that's all that matters great but I hope I answered your
49:09question let me know if I did or didn't wonderful okay so I think we actually
49:17went through the questions that we had in the chat we'll leave it open for a couple more minutes if anyone wants to
49:23get any last-minute questions into the chat or again feel free to raise your hand um but in the meantime I'll I'll pass
49:29the mic over to Mark again if you have any sort of final comments or feedback
49:35um that you'd like to to leave with us as we wait for any final questions to come in
49:41um yeah I see I see a question from Sanders Sandra says uh do you have more example questions for reaching out to
49:47your contacts in your CRM uh database
49:52um I do but it all depends on uh what Market you're in so Sandra if you want
49:58to like uh if you want to hit me up on LinkedIn um I'll Pro I have a few questions
50:04around like what industry you're in and then I can shoot out a few example
50:09questions for you does that work
50:16yeah amazing because you really want to tailor it right to that to that industry itself
50:22awesome and I'll speak on behalf of Diana I saw her message pop in great response to the earlier question so two
50:27thumbs up there yeah amazing and and you know by the way um Diana with with regards to your
50:35question one of the things that you know is kind of like nails and a chalkboard for me
50:41and like a lot of other strategists out there is that we we see people focusing
50:47too much on The Branding and what happens is I always ask a question how do you know what to say on all of
50:54your marketing material if you haven't taken the time to kind of introspect and understand who you are and what your
51:01brand attributes are and and your personality and then figure that out about your target market going beyond
51:07the functional stuff and going to experiential and emotional things what you can actually put on your
51:13marketing material you could literally pick anything right I mean but it might not be the right stuff but if you take a
51:20moment just to understand what that is and talk about that that's going to have the highest impact even if it doesn't
51:27look great wonderful
51:33great okay so it looks like we have exhausted all the questions in the chat although Stephen a comment uh is great
51:41presentation uh which I definitely Echo that so from there I guess we'll leave it
51:48that for anyone who has any questions for Mark feel free to reach out to him directly uh through Linkedin he'll be
51:55happy to provide you with some more information and details and on behalf of the board thank you so much Mark uh we
52:01really enjoyed your presentation this morning and we're thrilled that we got to feature 369 connect and this
52:08wonderful material on on brand economics so thank you again and for everyone who joined us thank you for spending part of
52:14your morning with us please keep your eyes peeled to the events calendar on our website to continue to join us for
52:20any future workshops or any future events through the board
52:25amazing thank you thanks everyone enjoy the rest of your day
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