It’s the era of makeovers! From celebrities like Shahrukh Khan and Aamir Khan to companies like Videocon and Godrej – all are going in for makeovers, and the list can just go on and on. I was asking myself can’t the same philosophy be applied to branding?
Yes, it’s time branding also goes in for a makeover! Why? With changing times, organizations are gradually realizing that progress does not come from new technologies alone, but from increased adoption of being smarter and addressing measurement challenges, and recognizing the opportunity to align marketing strategies and tactics with business objectives.
In this new era of the empowered customer, with technology being available for everyone, the scope for conventional marketing strategy is fast shrinking. Traditional marketing methods such as direct mail and advertising are just not as effective as they were earlier. Brand crowding makes it difficult for companies to stand out and claim their expertise.
Successful marketing today is not about ‘putting the old wine in a new bottle’, but it’s about changing the old wine itself!
As I see, to be competitive in business, companies are embracing a new marketing environment. They are increasingly turning towards ‘Thought Leadership Marketing’ or ‘Intellectual Branding’ as I call it. There’s an emerging marketing mindset based on earning trust and cultivating recognition in the minds of the customers.
So what exactly is intellectual branding?
Simply put, your knowledge and expertise about the services and products that you offer can be an effective branding tool. Intellectual branding focuses on this aspect and encourages companies to exploit and exhibit the same.
At its core, intellectual branding –
- is an interactive approach that involves all your stakeholders through a variety of media
- it positions your organization as an authority, a knowledgeable resource and a trusted advisor.
- it helps mobilize your stakeholders to think and act, and thus engage with you over the long term.
Further, the main element of a company’s intellectual branding marketing strategy is its ecosystem, through which companies can position themselves as centers of influence that are seen and heard. But the key point to be noted is that the intellectual branding strategy needs to be completely aligned with the entire organization strategy for a long term.
This apart, a solid Thought Leadership platform can help companies leverage their capacities and build their credibility. To support this platform, companies must look at innovative strategies and collaborations which enable them to be trendsetters themselves in a competitive market.
In a nutshell, intellectual branding is undoubtedly an effective strategy to get noticed in today’s increasingly competitive marketplace. It works because it gives consumers what they want: useful, relevant information, not a sales pitch, a chance to engage in a two-way dialogue with companies they consider doing business with.
So is your branding ready for a makeover?