Archive for Lead Nurturing

Posted in B2B, Brand Managment, Consumer Behavior with tags , , , , , , on December 1, 2011 by Consultant

Team Motivation – Tips for Motivating Team

A group heading towards a common objective will perform best when it is motivated as a team. Team motivation is determined by how well the team members’ needs and requirements are met by the team.

Some tips for effective team motivation are as follows:

The team’s objective should well align and synchronize with the team members needs and requirements.
Give in written the team’s mission and ensure that all understand it (as mission is a foundation based on which the team performs).
For maintaining motivation, the team should be given challenges (which must be difficult but achievable) consistently.
Giving a team responsibility accompanied by authority can also be a good motivator for the team to perform.
The team should be provided with growth opportunities. The team’s motivation level is high when the team members feel that they are being promoted, their skills and competencies are being enhanced, and they are learning new things consistently.
Effective and true leaders can develop environment for the team to motivate itself. They provide spur for self- actualization behaviours of team members.
Devote quality/productive time to your team. Have an optimistic and good relation with your team members. This will make you more acquainted with them and you can get knowledge of how well they are performing their job. Welcome their views and ideas as they may be fruitful and it will also boost their morale.
Motivation is all about empowerment. The skills and competencies of the team members should be fully utilized. Empowering the team members makes them accountable for their own actions.
Provide feedback to the team consistently. Become their mentor. Give the team recognition for good and outstanding performance. Give the team a constructive and not negative feedback.
Discover and offset the factors which discourage team spirit such as too many conflicts, lethargy, team members’ escape from responsibilities, lack of job satisfaction, etc.

 

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Posted in Brand Managment, CRM, eMarketing, Management, Marketing Mix (New Concepts) with tags , , , , , , , , , , , on December 1, 2011 by Consultant

Workplace Motivation – Carrot or Stick approach doesn’t work anymore

“I am in this job because I have no other option.” If this is what an employee of your company feels, read on to know how this statement can be changed to something more positive – “I love what I do.”

First things first – whose responsibility is it to ensure that an employee loves his job? While an employee would say – the employer, the human resource experts have a different point of view which sounds fair. It’s both the employer and the employee who should work together to make work fun for each other.

It is interesting to know here, that employees do not rank ’salary’ as the top factor in determining whether they like their jobs or not. What is important to them then – the opportunity to do what is ’important’. Almost all the employees would like to feel part of the big picture and would want to contribute to the organizational goals in some way or the other. Doing the mundane, routine work will never excite them – what excites them is – work that challenges them to use their talent. Right Management Consultants conducted a survey sometime back and found

that 83% of about 500 workers surveyed were motivated by “challenges at work”.

Also, as per an executive editor of the Harvard Business Review, while salary and promotions could do a great job of demotivating people if handled ineffectively, they aren’t so much effective in motivating people.

So then what needs to be done for effective motivation at workplace?

Link Rewards directly to Performance- An organization should adopt a fair reward structure which provides incentive to the most deserving employee. Have an incentive structure in place doesn’t solve the problem… what makes it workable is the employees trust in the system and believe that they will be rewarded if they perform well.
Compliment employees- Even though an employee’s name has not appeared in the list of people getting incentives, go ahead and compliment that employee for a job well done – no matter how small. There is nothing more satisfying to an employee than a pat on his back.
Be transparent- While there may be some strategic decisions which you might want to share with the employees at a later stage, make sure employees do not give in to the rumours. Stay in touch with the employees.
Work on your PDP- Every employee is responsible for his / her own career. He / she should work towards his ’Personal Development Plan’ [PDP] as discussed and agreed by his manager. Find out what are the training company offers and which is best suited to his development needs. How this will motivate you – remember training always increase your marketability and enhance your career.
Participate and Network- Employees – Remember you work for a company where a one-on-one attention might not be possible. Do not wait for an invitation to participate in a discussion. If you are a part of a forum, then you have full right to express your opinion and be a part of the process. Expressing yourself is a good way of motivating yourself.

Posted in B2B, Brand Managment, Consumer Behavior, CRM, eMarketing, Management, Marketing Mix (New Concepts) with tags , , , , , , , , , on December 1, 2011 by Consultant

Maslow’s Need Hierarchy Model

Human behavior is goal-directed. Motivation cause goal-directed behaviour. It is through motivation that needs can be handled and tackled purposely. This can be understood by understanding the hierarchy of needs by manager. The needs of individual serves as a driving force in human behaviour. Therefore, a manager must understand the “hierarchy of needs”. Maslow has proposed “The Need Hierarchy Model”.

Self-actualization Needs
Esteem Needs
Social Needs
Security Needs
Physiological Needs

FIGURE – Maslow’s Need Hierarchy Model

The needs have been classified into the following in order:

  1. Physiological needs- These are the basic needs of an individual which includes food, clothing, shelter, air, water, etc. These needs relate to the survival and maintenance of human life.
  2. Safety needs- These needs are also important for human beings. Everybody wants job security, protection against danger, safety of property, etc.
  3. Social needs- These needs emerge from society. Man is a social animal. These needs become important. For example- love, affection, belongingness, friendship, conversation, etc.
  4. Esteem needs- These needs relate to desire for self-respect, recognition and respect from others.
  5. Self-actualization needs- These are the needs of the highest order and these needs are found in those person whose previous four needs are satisfied. This will include need for social service, meditation.

Posted in Brand Managment, Consumer Behavior with tags , , , , , , on November 30, 2011 by Consultant

Brand Management

Brand management begins with having a thorough knowledge of the term “brand”. It includes developing a promise, making that promise and maintaining it. It means defining the brand, positioning the brand, and delivering the brand. Brand management is nothing but an art of creating and sustaining the brand. Branding makes customers committed to your business. A strong brand differentiates your products from the competitors. It gives a quality image to your business.

Brand management includes managing the tangible and intangible characteristics of brand. In case of product brands, the tangibles include the product itself, price, packaging, etc. While in case of service brands, the tangibles include the customers’ experience. The intangibles include emotional connections with the product / service.

Branding is assembling of various marketing mix medium into a whole so as to give you an identity. It is nothing but capturing your customers mind with your brand name. It gives an image of an experienced, huge and reliable business.

It is all about capturing the niche market for your product / service and about creating a confidence in the current and prospective customers’ minds that you are the unique solution to their problem.

The aim of branding is to convey brand message vividly, create customer loyalty, persuade the buyer for the product, and establish an emotional connectivity with the customers. Branding forms customer perceptions about the product. It should raise customer expectations about the product. The primary aim of branding is to create differentiation.

Strong brands reduce customers’ perceived monetary, social and safety risks in buying goods/services. The customers can better imagine the intangible goods with the help of brand name. Strong brand organizations have a high market share. The brand should be given good support so that it can sustain itself in long run. It is essential to manage all brands and build brand equity over a period of time. Here comes importance and usefulness of brand management. Brand management helps in building a corporate image. A brand manager has to oversee overall brand performance. A successful brand can only be created if the brand management system is competent.

Following are the important concepts of brand management:

 Definition of Brand

Understanding Brand – What is a Brand ?

Brands are different from products in a way that brands are “what the consumers buy”, while products are “what concern/companies make”. Brand is an accumulation of emotional and functional associations. Brand is a promise that the product will perform as per customer’s expectations. It shapes customer’s expectations about the product. Brands usually have a trademark which protects them from use by others. A brand gives particular information about the organization, good or service, differentiating it from others in marketplace. Brand carries an assurance about the characteristics that make the product or service unique. A strong brand is a means of making people aware of what the company represents and what are it’s offerings.To a consumer, brand means and signifies:

  • Source of product
  • Delegating responsibility to the manufacturer of product
  • Lower risk
  • Less search cost
  • Quality symbol
  • Deal or pact with the product manufacturer
  • Symbolic device

Brands simplify consumers purchase decision. Over a period of time, consumers discover the brands which satisfy their need. If the consumers recognize a particular brand and have knowledge about it, they make quick purchase decision and save lot of time. Also, they save search costs for product. Consumers remain committed and loyal to a brand as long as they believe and have an implicit understanding that the brand will continue meeting their expectations and perform in the desired manner consistently. As long as the consumers get benefits and satisfaction from consumption of the product, they will more likely continue to buy that brand. Brands also play a crucial role in signifying certain product features to consumers.

To a seller, brand means and signifies:

  • Basis of competitive advantage
  • Way of bestowing products with unique associations
  • Way of identification to easy handling
  • Way of legal protection of products’ unique traits/features
  • Sign of quality to satisfied customer
  • Means of financial returns

A brand, in short, can be defined as a seller’s promise to provide consistently a unique set of characteristics, advantages, and services to the buyers/consumers. It is a name, term, sign, symbol or a combination of all these planned to differentiate the goods/services of one seller or group of sellers from those of competitors. Some examples of well known brands are Mc Donald’s’, Mercedes-Benz, Sony, Coca Cola, Kingfisher, etc.

A brand connects the four crucial elements of an enterprise- customers, employees, management and shareholders. Brand is nothing but an assortment of memories in customers mind. Brand represents values, ideas and even personality. It is a set of functional, emotional and rational associations and benefits which have occupied target market’s mind. Associations are nothing but the images and symbols associated with the brand or brand benefits, such as, The Nike Swoosh, The Nokia sound, etc. Benefits are the basis for purchase decision.

Brand Name

Brand name is one of the brand elements which helps the customers to identify and differentiate one product from another. It should be chosen very carefully as it captures the key theme of a product in an efficient and economical manner. It can easily be noticed and its meaning can be stored and triggered in the memory instantly. Choice of a brand name requires a lot of research. Brand names are not necessarily associated with the product. For instance, brand names can be based on places (Air India, British Airways), animals or birds (Dove soap, Puma), people (Louise Phillips, Allen Solly). In some instances, the company name is used for all products (General Electric, LG).
Features of a Good Brand Name

A good brand name should have following characteristics:

  1. It should be unique / distinctive (for instance- Kodak, Mustang)
  2. It should be extendable.
  3. It should be easy to pronounce, identified and memorized. (For instance-Tide)
  4. It should give an idea about product’s qualities and benefits (For instance- Swift, Quickfix, Lipguard).
  5. It should be easily convertible into foreign languages.
  6. It should be capable of legal protection and registration.
  7. It should suggest product/service category (For instance Newsweek).
  8. It should indicate concrete qualities (For instance Firebird).
  9. It should not portray bad/wrong meanings in other categories. (For instance NOVA is a poor name for a car to be sold in Spanish country, because in Spanish it means “doesn’t go”).
Process of Selecting a renowned and successful Brand Name
  1. Define the objectives of branding in terms of six criterions – descriptive, suggestive, compound, classical, arbitrary and fanciful. It Is essential to recognize the role of brand within the corporate branding strategy and the relation of brand to other brand and products. It is also essential to understand the role of brand within entire marketing program as well as a detailed description of niche market must be considered.
  2. Generation of multiple names – Any potential source of names can be used; organization, management and employees, current or potential customers, agencies and professional consultants.
  3. Screening of names on the basis of branding objectives and marketing considerations so as to have a more synchronized list – The brand names must not have connotations, should be easily pronounceable, should meet the legal requirements etc.
  4. Gathering more extensive details on each of the finalized names – There should be extensive international legal search done. These searches are at times done on a sequential basis because of the expense involved.
  5. Conducting consumer research – Consumer research is often conducted so as to confirm management expectations as to the remembrance and meaningfulness of the brand names. The features of the product, its price and promotion may be shown to the consumers so that they understand the purpose of the brand name and the manner in which it will be used. Consumers can be shown actual 3-D packages as well as animated advertising or boards. Several samples of consumers must be surveyed depending on the niche market involved.
  6. On the basis of the above steps, management can finalize the brand name that maximizes the organization’s branding and marketing objectives and then formally register the brand name.

      Brand Attributes

Brand Attributes portray a company’s brand characteristics. They signify the basic nature of brand. Brand attributes are a bundle of features that highlight the physical and personality aspects of the brand. Attributes are developed through images, actions, or presumptions. Brand attributes help in creating brand identity.A strong brand must have following attributes:

  1. Relevancy- A strong brand must be relevant. It must meet people’s expectations and should perform the way they want it to. A good job must be done to persuade consumers to buy the product; else inspite of your product being unique, people will not buy it.
  2. Consistency- A consistent brand signifies what the brand stands for and builds customers trust in brand. A consistent brand is where the company communicates message in a way that does not deviate from the core brand proposition.
  1. Proper positioning- A strong brand should be positioned so that it makes a place in target audience mind and they prefer it over other brands.
  2. Sustainable- A strong brand makes a business competitive. A sustainable brand drives an organization towards innovation and success. Example of sustainable brand is Marks and Spencer’s.
  3. Credibility- A strong brand should do what it promises. The way you communicate your brand to the audience/ customers should be realistic. It should not fail to deliver what it promises. Do not exaggerate as customers want to believe in the promises you make to them.
  4. Inspirational- A strong brand should transcend/ inspire the category it is famous for. For example- Nike transcendent Jersey Polo Shirt.
  5. Uniqueness- A strong brand should be different and unique. It should set you apart from other competitors in market.
  6. Appealing- A strong brand should be attractive. Customers should be attracted by the promise you make and by the value you deliver.

   Brand Positioning

Brand Positioning – Definition and Concept

Brand positioning refers to “target consumer’s” reason to buy your brand in preference to others. It is ensures that all brand activity has a common aim; is guided, directed and delivered by the brand’s benefits/reasons to buy; and it focusses at all points of contact with the consumer.Brand positioning must make sure that:

  • Is it unique/distinctive vs. competitors ?
  • Is it significant and encouraging to the niche market ?
  • Is it appropriate to all major geographic markets and businesses ?
  • Is the proposition validated with unique, appropriate and original products ?
  • Is it sustainable – can it be delivered constantly across all points of contact with the consumer ?
  • Is it helpful for organization to achieve its financial goals ?
  • Is it able to support and boost up the organization ?

In order to create a distinctive place in the market, a niche market has to be carefully chosen and a differential advantage must be created in their mind. Brand positioning is a medium through which an organization can portray it’s customers what it wants to achieve for them and what it wants to mean to them. Brand positioning forms customer’s views and opinions.

Brand Positioning can be defined as an activity of creating a brand offer in such a manner that it occupies a distinctive place and value in the target customer’s mind. For instance-Kotak Mahindra positions itself in the customer’s mind as one entity- “Kotak ”- which can provide customized and one-stop solution for all their financial services needs. It has an unaided top of mind recall. It intends to stay with the proposition of “Think Investments, Think Kotak”. The positioning you choose for your brand will be influenced by the competitive stance you want to adopt.

Brand Positioning involves identifying and determining points of similarity and difference to ascertain the right brand identity and to create a proper brand image. Brand Positioning is the key of marketing strategy. A strong brand positioning directs marketing strategy by explaining the brand details, the uniqueness of brand and it’s similarity with the competitive brands, as well as the reasons for buying and using that specific brand. Positioning is the base for developing and increasing the required knowledge and perceptions of the customers. It is the single feature that sets your service apart from your competitors. For instance- Kingfisher stands for youth and excitement. It represents brand in full flight.

There are various positioning errors, such as-

  1. Under positioning- This is a scenario in which the customer’s have a blurred and unclear idea of the brand.
  2. Over positioning- This is a scenario in which the customers have too limited a awareness of the brand.
  3. Confused positioning- This is a scenario in which the customers have a confused opinion of the brand.
  4. Double Positioning- This is a scenario in which customers do not accept the claims of a brand.

  Brand Identity

Brand Identity – Definition and Concept

Brand identity stems from an organization, i.e., an organization is responsible for creating a distinguished product with unique characteristics. It is how an organization seeks to identify itself. It represents how an organization wants to be perceived in the market. An organization communicates its identity to the consumers through its branding and marketing strategies. A brand is unique due to its identity. Brand identity includes following elements – Brand vision, brand culture, positioning, personality, relationships, and presentations.
Brand identity is a bundle of mental and functional associations with the brand. Associations are not “reasons-to-buy” but provide familiarity and differentiation that’s not replicable getting it. These associations can include signature tune(for example – Britannia “ting-ting-ta-ding”), trademark colours (for example – Blue colour with Pepsi), logo (for example – Nike), tagline (for example – Apple’s tagline is “Think different”),etc.

Brand identity is the total proposal/promise that an organization makes to consumers. The brand can be perceived as a product, a personality, a set of values, and a position it occupies in consumer’s minds. Brand identity is all that an organization wants the brand to be considered as. It is a feature linked with a specific company, product, service or individual. It is a way of externally expressing a brand to the world.

Brand identity is the noticeable elements of a brand (for instance – Trademark colour, logo, name, symbol) that identify and differentiates a brand in target audience mind. It is a crucial means to grow your company’s brand.

Brand identity is the aggregation of what all you (i.e. an organization) do. It is an organizations mission, personality, promise to the consumers and competitive advantages. It includes the thinking, feelings and expectations of the target market/consumers. It is a means of identifying and distinguishing an organization from another. An organization having unique brand identity have improved brand awareness, motivated team of employees who feel proud working in a well branded organization, active buyers, and corporate style. Brand identity leads to brand loyalty, brand preference, high credibility, good prices and good financial returns. It helps the organization to express to the customers and the target market the kind of organization it is. It assures the customers again that you are who you say you are. It establishes an immediate connection between the organization and consumers. Brand identity should be sustainable. It is crucial so that the consumers instantly correlate with your product/service.

Brand identity should be futuristic, i.e, it should reveal the associations aspired for the brand. It should reflect the durable qualities of a brand. Brand identity is a basic means of consumer recognition and represents the brand’s distinction from it’s competitors.

 Sources of Brand Identity

What is source of Brand Identity?

  1. SYMBOLS- Symbols help customers memorize organization’s products and services. They help us correlate positive attributes that bring us closer and make it convenient for us to purchase those products and services. Symbols emphasize our brand expectations and shape corporate images. Symbols become a key component of brand equity and help in differentiating the brand characteristics. Symbols are easier to memorize than the brand names as they are visual images. These can include logos, people, geometric shapes, cartoon images, anything. For instance, Marlboro has its famous cowboy, Pillsbury has its Poppin’ Fresh doughboy, Duracell has its bunny rabbit, Mc Donald has Ronald, Fed Ex has an arrow, and Nike’s swoosh. All these symbols help us remember the brands associated with them.Brand symbols are strong means to attract attention and enhance brand personalities by making customers like them. It is feasible to learn the relationship between symbol and brand if the symbol is reflective/representative of the brand. For instance, the symbol of LG symbolize the world, future, youth, humanity, and technology. Also, it represents LG’s efforts to keep close relationships with their customers.
  1. LOGOS- A logo is a unique graphic or symbol that represents a company, product, service, or other entity. It represents an organization very well and make the customers well-acquainted with the company. It is due to logo that customers form an image for the product/service in mind. Adidas’s “Three Stripes” is a famous brand identified by it’s corporate logo.Features of a good logo are :
    1. It should be simple.
    2. It should be distinguished/unique. It should differentiate itself.
    3. It should be functional so that it can be used widely.
    4. It should be effective, i.e., it must have an impact on the intended audience.
    5. It should be memorable.
    6. It should be easily identifiable in full colours, limited colour palettes, or in black and white.
    7. It should be a perfect reflection/representation of the organization.
    8. It should be easy to correlate by the customers and should develop customers trust in the organization.
    9. It should not loose it’s integrity when transferred on fabric or any other material.
    10. It should portray company’s values, mission and objectives.

    The elements of a logo are:

    1. Logotype – It can be a simple or expanded name. Examples of logotypes including only the name are Kellogg’s, Hyatt, etc.
    2. Icon – It is a name or visual symbol that communicates a market position. For example-LIC ’hands’, UTI ’kalash’.
    3. Slogan – It is best way of conveying company’s message to the consumers. For instance- Nike’s slogan “Just Do It”.
  2. TRADEMARKS- Trademark is a unique symbol, design, or any form of identification that helps people recognize a brand. A renowned brand has a popular trademark and that helps consumers purchase quality products. The goodwill of the dealer/maker of the product also enhances by use of trademark. Trademark totally indicates the commercial source of product/service. Trademark contribute in brand equity formation of a brand. Trademark name should be original. A trademark is chosen by the following symbols:™ (denotes unregistered trademark, that is, a mark used to promote or brand goods);
    SM (denotes unregistered service mark)
    ® (denotes registered trademark).

    Registration of trademark is essential in some countries to give exclusive rights to it. Without adequate trademark protection, brand names can become legally declared generic. Generic names are never protectable as was the case with Vaseline, escalator and thermos.

    Some guidelines for trademark protection are as follows:

    1. Go for formal trademark registration.
    2. Never use trademark as a noun or verb. Always use it as an adjective.
    3. Use correct trademark spelling.
    4. Challenge each misuse of trademark, specifically by competitors in market.
    5. Capitalize first letter of trademark. If a trademark appears in point, ensure that it stands out from surrounding text.

 

 Brand Image

What is Brand Image

Brand image is the current view of the customers about a brand. It can be defined as a unique bundle of associations within the minds of target customers. It signifies what the brand presently stands for. It is a set of beliefs held about a specific brand. In short, it is nothing but the consumers’ perception about the product. It is the manner in which a specific brand is positioned in the market. Brand image conveys emotional value and not just a mental image. Brand image is nothing but an organization’s character. It is an accumulation of contact and observation by people external to an organization. It should highlight an organization’s mission and vision to all. The main elements of positive brand image are- unique logo reflecting organization’s image, slogan describing organization’s business in brief and brand identifier supporting the key values.Brand image is the overall impression in consumers’ mind that is formed from all sources. Consumers develop various associations with the brand. Based on these associations, they form brand image. An image is formed about the brand on the basis of subjective perceptions of associations bundle that the consumers have about the brand. Volvo is associated with safety. Toyota is associated with reliability.

The idea behind brand image is that the consumer is not purchasing just the product/service but also the image associated with that product/service. Brand images should be positive, unique and instant. Brand images can be strengthened using brand communications like advertising, packaging, word of mouth publicity, other promotional tools, etc.

Brand image develops and conveys the product’s character in a unique manner different from its competitor’s image. The brand image consists of various associations in consumers’ mind – attributes, benefits and attributes. Brand attributes are the functional and mental connections with the brand that the customers have. They can be specific or conceptual. Benefits are the rationale for the purchase decision. There are three types of benefits: Functional benefits – what do you do better (than others ),emotional benefits – how do you make me feel better (than others), and rational benefits/support – why do I believe you(more than others). Brand attributes are consumers overall assessment of a brand.

Brand image has not to be created, but is automatically formed. The brand image includes products’ appeal, ease of use, functionality, fame, and overall value. Brand image is actually brand content. When the consumers purchase the product, they are also purchasing it’s image. Brand image is the objective and mental feedback of the consumers when they purchase a product. Positive brand image is exceeding the customers expectations. Positive brand image enhances the goodwill and brand value of an organization.

To sum up, “Brand image” is the customer’s net extract from the brand.

 Brand Personality

What is Brand Personality ?

Brand personality is the way a brand speaks and behaves. It means assigning human personality traits/characteristics to a brand so as to achieve differentiation. These characteristics signify brand behaviour through both individuals representing the brand (i.e. it’s employees) as well as through advertising, packaging, etc. When brand image or brand identity is expressed in terms of human traits, it is called brand personality. For instance – Allen Solley brand speaks the personality and makes the individual who wears it stand apart from the crowd.Infosys represents uniqueness, value, and intellectualism.Brand personality is nothing but personification of brand. A brand is expressed either as a personality who embodies these personality traits (For instance – Shahrukh Khan and Airtel, John Abraham and Castrol) or distinct personality traits (For instance – Dove as honest, feminist and optimist; Hewlett Packard brand represents accomplishment, competency and influence). Brand personality is the result of all the consumer’s experiences with the brand. It is unique and long lasting.

Brand personality must be differentiated from brand image, in sense that, while brand image denote the tangible (physical and functional) benefits and attributes of a brand, brand personality indicates emotional associations of the brand. If brand image is comprehensive brand according to consumers’ opinion, brand personality is that aspect of comprehensive brand which generates it’s emotional character and associations in consumers’ mind.

Brand personality develops brand equity. It sets the brand attitude. It is a key input into the look and feel of any communication or marketing activity by the brand. It helps in gaining thorough knowledge of customers feelings about the brand. Brand personality differentiates among brands specifically when they are alike in many attributes. For instance – Sony versus Panasonic. Brand personality is used to make the brand strategy lively, i.e, to implement brand strategy. Brand personality indicates the kind of relationship a customer has with the brand. It is a means by which a customer communicates his own identity.

Brand personality and celebrity should supplement each other. Trustworthy celebrity ensures immediate awareness, acceptability and optimism towards the brand. This will influence consumers’ purchase decision and also create brand loyalty. For instance – Bollywood actress Priyanka Chopra is brand ambassador for J.Hampstead, international line of premium shirts.

Brand personality not only includes the personality features/characteristics, but also the demographic features like age, gender or class and psychographic features. Personality traits are what the brand exists for.

Brand Awareness

What is Brand Awareness ?

Brand awareness is the probability that consumers are familiar about the life and availability of the product. It is the degree to which consumers precisely associate the brand with the specific product. It is measured as ratio of niche market that has former knowledge of brand. Brand awareness includes both brand recognition as well as brand recall. Brand recognitionis the ability of consumer to recognize prior knowledge of brand when they are asked questions about that brand or when they are shown that specific brand, i.e., the consumers can clearly differentiate the brand as having being earlier noticed or heard. While brand recall is the potential of customer to recover a brand from his memory when given the product class/category, needs satisfied by that category or buying scenario as a signal. In other words, it refers that consumers should correctly recover brand from the memory when given a clue or he can recall the specific brand when the product category is mentioned. It is generally easier to recognize a brand rather than recall it from the memory.

Brand awareness is improved to the extent to which brand names are selected that is simple and easy to pronounce or spell; known and expressive; and unique as well as distinct. For instance – Coca Cola has come to be known as Coke.

There are two types of brand awareness:

  1. Aided awareness- This means that on mentioning the product category, the customers recognize your brand from the lists of brands shown.
  2. Top of mind awareness (Immediate brand recall)- This means that on mentioning the product category, the first brand that customer recalls from his mind is your brand.

The relative importance of brand recall and recognition will rely on the degree to which consumers make product-related decisions with the brand present or not. For instance – In a store, brand recognition is more crucial as the brand will be physically present. In a scenario where brands are not physically present, brand recall is more significant (as in case of services and online brands).

Building brand awareness is essential for building brand equity. It includes use of various renowned channels of promotion such as advertising, word of mouth publicity, social media like blogs, sponsorships, launching events, etc. To create brand awareness, it is important to create reliable brand image, slogans and taglines. The brand message to be communicated should also be consistent. Strong brand awareness leads to high sales and high market share. Brand awareness can be regarded as a means through which consumers become acquainted and familiar with a brand and recognize that brand.

 Brand Loyalty

What is Brand Loyalty?

Brand Loyalty is a scenario where the consumer fears purchasing and consuming product from another brand which he does not trust. It is measured through methods like word of mouth publicity, repetitive buying, price sensitivity, commitment, brand trust, customer satisfaction, etc. Brand loyalty is the extent to which a consumer constantly buys the same brand within a product category. The consumers remain loyal to a specific brand as long as it is available. They do not buy from other suppliers within the product category. Brand loyalty exists when the consumer feels that the brand consists of right product characteristics and quality at right price. Even if the other brands are available at cheaper price or superior quality, the brand loyal consumer will stick to his brand.Brand loyal consumers are the foundation of an organization. Greater loyalty levels lead to less marketing expenditure because the brand loyal customers promote the brand positively. Also, it acts as a means of launching and introducing more products that are targeted at same customers at less expenditure. It also restrains new competitors in the market. Brand loyalty is a key component of brand equity.

Brand loyalty can be developed through various measures such as quick service, ensuring quality products, continuous improvement, wide distribution network, etc. When consumers are brand loyal they love “you” for being “you”, and they will minutely consider any other alternative brand as a replacement. Examples of brand loyalty can be seen in US where true Apple customers have the brand’s logo tattooed onto their bodies. Similarly in Finland, Nokia customers remained loyal to Nokia because they admired the design of the handsets or because of user- friendly menu system used by Nokia phones.

Brand loyalty can be defined as relative possibility of customer shifting to another brand in case there is a change in product’s features, price or quality. As brand loyalty increases, customers will respond less to competitive moves and actions. Brand loyal customers remain committed to the brand, are willing to pay higher price for that brand, and will promote their brand always. A company having brand loyal customers will have greater sales, less marketing and advertising costs, and best pricing. This is because the brand loyal customers are less reluctant to shift to other brands, respond less to price changes and self- promote the brand as they perceive that their brand have unique value which is not provided by other competitive brands.

Brand loyalty is always developed post purchase. To develop brand loyalty, an organization should know their niche market, target them, support their product, ensure easy access of their product, provide customer satisfaction, bring constant innovation in their product and offer schemes on their product so as to ensure that customers repeatedly purchase the product.

 Brand Association

What is Brand Association?

Brand Associations are not benefits, but are images and symbols associated with a brand or a brand benefit. For example- The Nike Swoosh, Nokia sound, Film Stars as with “Lux”, signature tune Ting-ting-ta-ding with Britannia, Blue colour with Pepsi, etc. Associations are not “reasons-to-buy” but provide acquaintance and differentiation that’s not replicable. It is relating perceived qualities of a brand to a known entity. For instance- Hyatt Hotel is associated with luxury and comfort; BMW is associated with sophistication, fun driving, and superior engineering. Most popular brand associations are with the owners of brand, such as – Bill Gates and Microsoft, Reliance and Dhirubhai Ambani.Brand association is anything which is deep seated in customer’s mind about the brand. Brand should be associated with something positive so that the customers relate your brand to being positive. Brand associations are the attributes of brand which come into consumers mind when the brand is talked about. It is related with the implicit and explicit meanings which a consumer relates/associates with a specific brand name. Brand association can also be defined as the degree to which a specific product/service is recognized within it’s
product/service class/category. While choosing a brand name, it is essential that the name chosen should reinforce an important attribute or benefit association that forms it’s product positioning. For instance – Power book.
Brand associations are formed on the following basis:
  • Customers contact with the organization and it’s employees;
  • Advertisements;
  • Word of mouth publicity;
  • Price at which the brand is sold;
  • Celebrity/big entity association;
  • Quality of the product;
  • Products and schemes offered by competitors;
  • Product class/category to which the brand belongs;
  • POP ( Point of purchase) displays; etc

Positive brand associations are developed if the product which the brand depicts is durable, marketable and desirable. The customers must be persuaded that the brand possess the features and attributes satisfying their needs. This will lead to customers having a positive impression about the product. Positive brand association helps an organization to gain goodwill, and obstructs the competitor’s entry into the market.

Brand Promise

Brand Promise – Our brand is a promise of what we deliver

Brand evokes the responses. There are many people who love their Apple iPod or love their car etc. There are certain feelings that come to your mind when you think about your favorite brands. People expect that these brands should demonstrate brand promises every time whenever they are, encountered. Inconsistencies in the performance of services can lead to damage in further relations. This can cause a customer to select some other brand.Brand promise is what you say to the customer and what is to be delivered. If you are not able to meet the expectations of the customer, your business will either flounder or die. If you are not able to deliver the brand promise you will not be able to meet the expectations that have been created in the customers mind.

There are three major mistakes that the business leaders make while executing and developing the brand promise:

The first mistake is when you refuse to recognize the customer expectations that are created in customers mind before it comes in contact with that particular brand. The customers are very easily able to realize your brand promise by the business you are dealing with. For example, if you have a gourmet restaurant then the customers will have a image in their mind that it will different from the local restaurant. This is one of the major reason, why one should work for every smallest detail. For example, the image of a gourmet restaurant does not include plastic menus or paper placemats.
The second major mistake is to implement a system which gives a negative experience to the customer. Business leaders work on creating efficient results for saving time and money. Human beings are self-centered creatures with a thought in their mind to save money and time for us. For example, a customers asks do you accept credit card? Do you accept all credit cards or only master card and visa? If you don’t accept these cards, does it make any difference in the cost? Its just that you are losing sales. Then what are the other services you are giving to the customer in place which is the attraction for the customers. Any small inconvenience which will force the customer to say that “you are not completely service oriented” and encourages the customer to some other brand.
The third major mistake is that when you are not able to hire the best candidate. You easily hire anyone who applies and don’t even put some efforts to train them gives a really terrible experience to the customers. Brand promises are delivered by the staff. If your goal is to be a business leader you will invest time to train the staff. If you select a person who is very polite and does not even know how to dress up for an interview then you competition should send a thank you card for all the business you will send his way.

People who want to become the business leader understand they are a great product brands. They are authentic, dependable and reliable. Their icon is their name. Delivering the best of themselves is their brand promise. Do you want to become winner at working? Then, deliver the brand promise.

Building a Brand

Steps in Building a Brand Name Product or Service

At times, organizations are often inspired by a variety of ideas to create products and services which can be offered locally or globally. Generally, such products or services require the establishment of a brand or company name. Often these brands include both logo and lettering and can do a long way in advertising such products or services. Therefore, one of the most important steps in building a Brand is decide upon a brand name for the product or service one wishes to sell.Branding is a process that allows an individual or a group of individuals the ability to provide a brand image and lettering to an idea. Upon doing so, one has a better chance of selling such items to a broader audience whether that be on a local or global level. Therefore, while the old adage “nothing happens until somebody sells something,” still stands true to some extent, at times almost seems as if the process of advertising and branding has overtaken the desire to sell.

Although branding generally identifies the company and philosophies behind same, it can also be representative of those working for such a company. This is a good thing as it generates the right type of audience to the product or service being sold based on personal relationships with those running the company. Therefore, benefiting both the organizations selling the branded product or service and the dealers buying same.

One of the most important steps in selling any product or service is the belief one holds in relation to the item. Therefore, only those who strongly believe in the products and services offered by the company are going to be good at selling same. Otherwise, one may want to work from an advertising or graphic artist perspective in relation to advertising rather than sales when it comes to time to market same.

Another step is to build a brand that maintains loyalty with its customer base and has a strong customer service department. For, having such a department in today’s world where one is both experienced and knowledgeable when it comes to helping others can be a rare find. So, companies who represent oneself has having a strong customer base and even stronger customer service department are often more successful than those who do not.

A very important step in marketing a brand is to identify the target audience before creating the logo and lettering in relation to marketing. This is because different age groups react differently to a variety of logo and lettering especially as so much is misrepresented by a variety of gangs and others using such material inappropriately. Therefore, if one can define the brand name, logo and lettering and present same to a marketing research review panel or the like, one may be able to gain a better understanding of which audience one needs to direct their product or service to in order to create the most sales.

Still, if one can communicate the use of their product or service clearly, establish trust within the community, be that locally or globally, aim marketing at the right audience, build a base of buyers and customer loyalty and offer great customer service, then one is on their way to not only creating and advertising an excellent brand but selling one as well.

Therefore, when looking for steps in building a brand, there are many steps which one can complete to help make the creation of such brand an easier task. These include, knowing your audience, building your brand, finding a great logo and lettering to represent same, targeting the appropriate audience and placing a number of ads in as many online and offline advertising venues one can find. For, after doing so, one may just find that they are selling even more products and services than one had ever dreamed possible.

 Brand Equity

Brand Equity – Meaning and Measuring Brand Equity

Brand Equity is the value and strength of the Brand that decides its worth. It can also be defined as the differential impact of brand knowledge on consumers response to the Brand Marketing. Brand Equity exists as a function of consumer choice in the market place. The concept of Brand Equity comes into existence when consumer makes a choice of a product or a service. It occurs when the consumer is familiar with the brand and holds some favourable positive strong and distinctive brand associations in the memory.

Brand Equity can be determined by measuring:
Returns to the Share-Holders.
Evaluating the Brand Image for various parameters that are considered significant.
Evaluating the Brand’s earning potential in long run.
By evaluating the increased volume of sales created by the brand compared to other brands in the same class.
The price premium charged by the brand over non-branded products.
From the prices of the shares that an organization commands in the market (specifically if the brand name is identical to the corporate name or the consumers can easily co-relate the performance of all the individual brands of the organization with the organizational financial performance.
OR, An amalgamation of all the above methods.
Factors contributing to Brand Equity
  1. Brand Awareness
  2. Brand Associations
  3. Brand Loyalty
  4. Perceived Quality: refers to the customer’s perception about the total quality of the brand. While evaluating quality the customer takes into account the brands performance on factors that are significant to him and makes a relative analysis about the brand’s quality by evaluating the competitors brands also. Thus quality is a perceptual factor and the consumer analysis about quality varies. Higher perceived quality might be used for brand positioning. Perceived quality affect the pricing decisions of the organizations. Superior quality products can be charged a price premium. Perceived quality gives the customers a reason to buy the product. It also captures the channel member’s interest. For instance – American Express.
  5. Other Proprietary Brand Assets: Patents, Trademarks and Channel Inter-relations are proprietary assets. These assets prevent competitors attack on the organization. They also help in maintaining customer loyalty as well as organization’s competitive advantage.

Brand Equity & Customer Equity

Brand Equity is defined as value and strength of the Brand that decides its worth whereas Customer Equity is defined in terms of lifetime values of all customers.

Brand Equity and Customer Equity have two things in common-

Both stress on significance of customer loyalty to the brand
Both stress upon the face that value is created by having as many customers as possible paying as high price as possible.

But conceptually both brand equity and customer equity differ.

While customer equity puts too much emphasis on lower line financial value got from the customers, brand equity attempts to put more emphasis on strategic issues in managing brands.
Customer Equity is less narrow alternative. It can overlook a brands optional value and their capacity effect revenues and cost beyond the present marketing environment.
Just as customer equity can persist without brand equity, brand equity may also exist without customer equity. For instance I may have positive attitude towards brands – McDonald and Burger King, but I may only purchase from McDonald’s brand consistently.

To conclude, we can say brands do not exist without consumer and consumer do not exist without brands. Brands serve as a temptation that utilizes other intermediaries to lure the customers from whom value is extracted. Customers serve as a profit-medium for brands to encash their brand value. Both the concepts are highly co-related.

  Brand Extension

Brand Extension – Meaning, Advantages and Disadvantages

Brand Extension is the use of an established brand name in new product categories. This new category to which the brand is extended can be related or unrelated to the existing product categories. A renowned/successful brand helps an organization to launch products in new categories more easily. For instance, Nike’s brand core product is shoes. But it is now extended to sunglasses, soccer balls, basketballs, and golf equipments. An existing brand that gives rise to a brand extension is referred to as parent brand. If the customers of the new business have values and aspirations synchronizing/matching those of the core business, and if these values and aspirations are embodied in the brand, it is likely to be accepted by customers in the new business.Extending a brand outside its core product category can be beneficial in a sense that it helps evaluating product category opportunities, identifies resource requirements, lowers risk, and measures brand’s relevance and appeal.

Brand extension may be successful or unsuccessful.

Instances where brand extension has been a success are-

  1. Wipro which was originally into computers has extended into shampoo, powder, and soap.
  2. Mars is no longer a famous bar only, but an ice-cream, chocolate drink and a slab of chocolate.

Instances where brand extension has been a failure are-

  1. In case of new Coke, Coca Cola has forgotten what the core brand was meant to stand for. It thought that taste was the only factor that consumer cared about. It was wrong. The time and money spent on research on new Coca Cola could not evaluate the deep emotional attachment to the original Coca- Cola.
  2. Rasna Ltd. – Is among the famous soft drink companies in India. But when it tried to move away from its niche, it hasn’t had much success. When it experimented with fizzy fruit drink “Oranjolt”, the brand bombed even before it could take off. Oranjolt was a fruit drink in which carbonates were used as preservative. It didn’t work out because it was out of synchronization with retail practices. Oranjolt need to be refrigerated and it also faced quality problems. It has a shelf life of three-four weeks, while other soft- drinks assured life of five months.
Advantages of Brand Extension

Brand Extension has following advantages:

  1. It makes acceptance of new product easy.
    1. It increases brand image.
    2. The risk perceived by the customers reduces.
    3. The likelihood of gaining distribution and trial increases. An established brand name increases consumer interest and willingness to try new product having the established brand name.
    4. The efficiency of promotional expenditure increases. Advertising, selling and promotional costs are reduced. There are economies of scale as advertising for core brand and its extension reinforces each other.
    5. Cost of developing new brand is saved.
    6. Consumers can now seek for a variety.
    7. There are packaging and labeling efficiencies.
    8. The expense of introductory and follow up marketing programs is reduced.
  2. There are feedback benefits to the parent brand and the organization.
    1. The image of parent brand is enhanced.
    2. It revives the brand.
    3. It allows subsequent extension.
    4. Brand meaning is clarified.
    5. It increases market coverage as it brings new customers into brand franchise.
    6. Customers associate original/core brand to new product, hence they also have quality associations.
Disadvantages of Brand Extension
  1. Brand extension in unrelated markets may lead to loss of reliability if a brand name is extended too far. An organization must research the product categories in which the established brand name will work.
  2. There is a risk that the new product may generate implications that damage the image of the core/original brand.
  3. There are chances of less awareness and trial because the management may not provide enough investment for the introduction of new product assuming that the spin-off effects from the original brand name will compensate.
  4. If the brand extensions have no advantage over competitive brands in the new category, then it will fail.

Co-branding

Co-branding – Meaning, Types and Advantages and Disadvantages

What is Co-branding

Co branding is the utilization of two or more brands to name a new product. The ingredient brands help each other to achieve their aims. The overall synchronization between the brand pair and the new product has to be kept in mind. Example of co-branding – Citibank co-branded with MTV to launch a co-branded debit card. This card is beneficial to customers who can avail benefits at specific outlets called MTV Citibank club.

Types of Co-branding

Co-branding is of two types: Ingredient co-branding and Composite co-branding.

  1. Ingredient co-branding implies using a renowned brand as an element in the production of another renowned brand. This deals with creation of brand equity for materials and parts that are contained within other products. The ingredient/constituent brand is subordinate to the primary brand. For instance – Dell computers has co-branding strategy with Intel processors. The brands which are ingredients are usually the company’s biggest buyers or present suppliers. The ingredient brand should be unique. It should either be a major brand or should be protected by a patent. Ingredient co-branding leads to better quality products, superior promotions, more access to distribution channel and greater profits. The seller of ingredient brand enjoys long-term customer relations. The brand manufacture can benefit by having a competitive advantage and the retailer can benefit by enjoying a promotional help from ingredient brand.
  1. Composite co-branding refers to use of two renowned brand names in a way that they can collectively offer a distinct product/ service that could not be possible individually. The success of composite branding depends upon the favourability of the ingredient brands and also upon the extent on complementarities between them.

Advantages and Disadvantages of Co-branding

Co-branding has various advantages, such as – risk-sharing, generation of royalty income, more sales income, greater customer trust on the product, wide scope due to joint advertising, technological benefits, better product image by association with another renowned brand, and greater access to new sources of finance. But co-branding is not free from limitations. Co-branding may fail when the two products have different market and are entirely different. If there is difference in visions and missions of the two companies, then also composite branding may fail. Co-branding may affect partner brands in adverse manner. If the customers associate any adverse experience with a constituent brand, then it may damage the total brand equity.

 

Posted in B2B, Consumer Behavior, CRM, eMarketing, Marketing Mix (New Concepts) with tags , , , , on November 29, 2011 by Consultant

Get ‘Em While They’re Hot: Six Ways to Maximize Lead Conversion

In today’s competitive business landscape, your company is undoubtedly spending significant dollars to generate leads. In fact, you’re likely branching out to newer technologies and channels—such as mobile, text messaging, social media, and Web videos—to bring in more leads.

Though you’re increasing your inbound leads, what happens once you get them? Do your lead-response efforts take advantage of your lead flow? Could your lead-conversion rates use a boost? Without successful conversion, leads are essentially useless.

Here are six steps that’ll immediately increase your lead-conversion rates.

1. Focus on speed to lead

According to a Kellogg study, the odds of reaching a lead increases 100% if the lead is called within five minutes rather than 30 minutes. The study also found that the odds of qualifying and converting a lead increases 21 times if the lead is called within five minutes vs. 30. Calling leads immediately—before your competition—turns rapid response time into a competitive advantage.

2. Convert leads to conversations—then to sales

Don’t get caught up measuring how many leads you’re getting. The question is, How many are you talking to? Converting more leads starts with more conversations. Don’t rely on email to initiate contact with a hot lead. Instantly calling incoming prospects means that you can spend more time closing sales—and less time pursuing cold leads.

3. Don’t rely on CRM systems

Customer relationship management (CRM) systems can stand in the way of immediately reaching your leads by phone. A LeadQual study found that only 40% of leads receive a response via telephone within 24 hours. In the several hours or full business day it may take your CRM system to route incoming lead information to you, your competition may have already contacted and closed the sale.

4. Connect first using lead-response management services

The LeadQual study found that speed is the single largest driver of conversion and being the first business to contact a lead increases conversion 238%. Lead-response management services are designed to connect you with incoming leads by calling you immediately and giving you relevant information about the lead. Such services prompt you to be instantly connected with a prospect, offering the opportunity to begin a sales conversation. Clients of one lead-response management service have experienced lead-conversion-rate increases of up to 300% after using the service.

5. Be available—anywhere, anytime

Not there? No problem. As a busy marketer, you’re often away from your desk. According to a Leads360 study, weekend and after-hour leads are extremely valuable, but they are often neglected. Similarly, a LeadQual report found that enormous opportunity exists for after-hour and weekend calling when many companies aren’t staffed for rapid response. In the age of mobility, there’s no excuse to miss an incoming lead. Lead-response management services enable marketers and sales reps to receive detailed lead information by phone—and to make immediate phone contact with the lead, regardless of the rep’s location.

6. Be systematically persistent

You already know that persistence is key to sales success. But consistently following up with leads is easier said than done. A Leads360 report found that 35% of leads are reached on the first call and up to 72% are reached with the second call—but 48% of leads never get a second call. Accordingly, some lead-response management services offer systematic reattempt capabilities that automatically call reps with lead information, offering one-touch connection with leads for instant phone conversations on the second and subsequent attempts. As a result, no lead goes to waste, and more connections are made.

* * *

You’re competing hard to generate new inquiries and prospects, but that’s not where the battle ends. You are, in essence, wasting marketing dollars if you don’t apply the same amount of effort to lead response and conversion that you do to lead generation.

Make the most of your hard-fought incoming leads by putting in place systems that’ll immediately connect you with leads by phone, help you close more sales, and ultimately, maximize your lead conversion rates.

Posted in Consumer Behavior, eMarketing, Marketing Mix (New Concepts), Search Engine Optimization with tags , , , , on November 29, 2011 by Consultant

Five Strategies for Speaking to B2B Buyers’ Pain Points

Effective B2B lead generation, lead qualification, and lead nurturing programs are built on a rock-solid messaging platform—your offer.

The most important aspect of a great offer is a deep understanding of what motivates potential buyers. When you fully understand their pain points and needs and can align them with a clear offer and comprehensive benefits, the sales nurturing process will leapfrog ahead.

Here are five strategies that build stronger, more powerful offers that will help your sales team close more deals.

1. Base your offer on the three conditions of need

Let’s look at what motivates buyers to buy:

  • Fear of a loss occurring in the current situation
  • Perceived risk that the situation is deteriorating
  • An opportunity to improve the future situation

 

The first of those three is the easiest to sell to. I always tell salespeople to continue to ask questions until they reach the first or second condition; selling to the third condition is selling into wishful thinking and therefore very difficult.

Many “no decision” outcomes in sales involve selling to someone who is always interested in learning how to improve, but has no immediate motivation to do so.

2. Incorporate ultimate benefits

The “So-What Exercise” in sales training focuses on layering benefits for as long as possible until you reach one or more of the following ultimate benefits:

  • Saving money
  • Saving time
  • Improving a product or service
  • Saving lives

Benefits are, ultimately, why anyone buys anything for his or her company. Though you cannot simply say, “Buy from ABC Company and save money,” the reason anyone buys from ABC Company is to save money (or because one or more of the other ultimate benefits).

The key to using ultimate benefits, though, lies in linking differentiators to the most significant ultimate benefit so that the reader sees why buying from your company will provide a benefit and why your company is different.

3. Take advantage of the reasons people buy

The other side of offer development has to do with WIIFM (what’s in it for me?). People buy things for their companies for business reasons, but also for personal reasons, such as these:

  • It’s their job
  • Recognition
  • Security
  • Compensation
  • Self-actualization

When marketing and selling to a buyer, you should understand not only why she might buy on behalf of the company but also what might motivate her to buy for personal reasons.

4. Put your offer to the “same page” test internally

Is everyone at your company on the same page with your offer? A simple but effective way to test your company’s messaging is to ask every possible stakeholder to answer the following questions:

  • Who is My Company?
  • Who is My Company’s target audience?
  • What problem does My Company solve?
  • What is My Company’s category?
  • What benefits do our products or services provide the market?
  • What is the competitive landscape?
  • How is My Company different?
  • What is the objective of this offer?
  • What is the scope (money and time investment)?
  • What is the timing?
  • What is the budget?

Once that test is complete, compare the answers, and identify discrepancies. The most senior executive in the company should deal with tie-breaker issues.

Be bold, and hold the team accountable for the decisions they make about the answers.

5. Take your offer to market… then listen

Now that you have enhanced and focused your offer, it’s time to take it to the market.

How much should your sales representatives talk about your product or solution? As little as possible. Effective salespeople know that good prospects sell themselves as they talk about their particular business challenges, opportunities on the horizon, and emerging issues.

Asking the right questions and then listening carefully to direct further discussion uncovers pain points that are most likely to motivate purchase. Training, constant coaching, applying a proven process, and maintaining a thorough knowledge of your offer are crucial to developing trust and purchase interest.