Building a strong brand in your consumers' minds… Don't miss out on this "Marvel's" game-changing marketing insights!

Monday: MicroBusiness and Marketing Marvels FROM THE DESK OF MILES EVERSON: Hello, everyone. Happy Monday! We hope you all had a good rest over the weekend. Let’s start the week with our dose of motivation from our “Marketing Marvels.” Each Monday, we feature outstanding individuals in business and marketing, along with their industry-related experiences, contributions, and insights. Today, we’ll talk about one of the pioneers of “positioning” in marketing. Keep reading to learn more about this industry expert and how his principle revolutionized the way marketing is done nowadays. CEO, MBO Partners Chairman of the Advisory Board, The I Institute

Building a strong brand in your consumers' minds… Don't miss out on this "Marvel's" game-changing marketing insights! Al Ries: Pioneer of “Positioning Marketing” Marketing is a fast-paced industry. Every day, lots of changes are happening (whether expected or unexpected) and influencing how consumers perceive a brand or business. For instance: Just when people got used to Instagram marketing in the early 2010s, Snapchat started burning up the charts… and as time passed by, other social media platforms like TikTok, Twitch, Discord, etc. also became prominent. Another example? Before, we only had what we call, “video production.” Now, with new technologies in place, we have live video, 360 video, and augmented reality (AR). With these innovations coming at such a breakneck pace, it’s important that marketers know how to make their brands or offerings stand out… and one of the industry leaders who pioneered an interesting concept about this topic? Al Ries! Alfred Paul Ries (November 14, 1926 - October 7, 2022) was a marketing professional and author, and the former co-founder and chairman of consulting firm Ries & Ries along with his daughter, Laura Ries. He is credited with pioneering the idea of “positioning” in the field of marketing. He graduated from DePauw University as a mathematics major in 1950. After that, he worked at the advertising department of General Electric before founding his own advertising agency, Ries Cappiello Colwell, in New York City in 1961. American advertising executive Jack Trout joined Ries in his new firm in 1967 and that partnership led to them writing a 3-part series of articles for magazine company Advertising Age in 1972. The themes they discussed in those articles inspired them to co-author the book, “Positioning: The Battle For Your Mind,” in 1981. Positioning in Marketing One of Ries' most important contributions as an industry leader is the concept of "positioning." This refers to how businesses create a unique and compelling position in the minds of consumers, differentiating themselves from their competitors. For Ries, successful businesses focus on building a position that is both distinctive AND compelling, and they stick to it over time, even as the marketplace changes. His ideas about positioning have been influential for a couple of reasons: First, positioning helps businesses focus on what truly matters in their marketing efforts, creating a clear and compelling message that resonates with consumers. This can be especially important in a crowded marketplace, where businesses may be vying for attention from the same pool of customers. Second, positioning is grounded in human psychology. Ries' ideas are about understanding what motivates people to make purchasing decisions. By focusing on the basics of consumer behavior, Ries was able to help businesses create effective marketing campaigns that stand the test of time. Here are the 6 positioning principles discussed in Ries and Trout’s book, “Positioning: The Battle For Your Mind”: Find an open hole. In the 20th century, marketing was considered “communications”—marketers studied their product, its features, and competitors, then prepared ads that explained why their offering was better than the competition. Ries realized the need to change this approach, which led to him coining the term, “positioning.” According to him, marketers should focus on the minds of their prospects instead of focusing on their product. Narrow your focus. Some brands are too broad in scope to fill a hole in consumers’ minds. Either these brands have too many features and benefits, or appeal to too many different market segments. Ries believed enterprises need to have a narrow focus… and through positioning, businesses can build or refocus their branding around a singular idea or concept. Examples: Federal Express (FedEx) - Overnight delivery Zappos.com - Free shipping both ways under a 365-return policy Dell - Sells directly to businesses and consumers Your brand name is foremost. Ries said every brand needs 2 names: A brand name and a category name. According to him, some marketers tend to overlook opportunities to create a new category, yet many brands owe their success to this strategy. Ries also added that divergence in the business landscape is creating countless chances to establish new categories. This means the first businesses to launch new brands and take advantage of new market segments will become long-time winners. Examples: Chobani - The first Greek yogurt Red Bull - The first energy drink Fresh Express - The first packaged salad Create a visual hammer. Aside from a name, Ries said brands need to have a visual hammer or a logo that will leave a lasting impression on consumers’ minds. Examples: Tropicana’s straw inserted in an orange fruit Coca-Cola’s contour bottle KFC’s Colonel Sanders Establish a verbal battlecry. Ries said words alone are not enough. Every brand needs to convert an ordinary slogan into a memorable battlecry. There are 5 literary techniques marketers can use for this positioning strategy: Rhyme, alliteration, repetition, reversal, and double entendre. Examples: M&M’s “Melts in your mouth, not in your hands” (alliteration) Folgers’ “The best part of waking up is Folgers in your cup” (rhyme) DeBeers’ “A diamond is forever” (double entendre) Branding is more about public relations (PR), not advertising. Ries believed one mistake businesses normally make is to try to put a new idea into prospects’ minds through advertising. Here’s the thing: Advertising doesn’t have the credibility to do that. Instead, businesses should use PR to establish their positions in the marketplace. In Ries’ words: “PR first, advertising second.” According to Ries, high-performing brands are those that are simple, memorable, and distinctive. They are built on a strong foundation of unique features and benefits, and are able to create an emotional connection with their customers. Overall, it's clear that Ries had a profound impact on the world of marketing and branding. His ideas helped shape the way businesses think about their marketing strategies, and his books and articles have become must-reads for anyone interested in the field. So, whether you're a business leader looking to improve your marketing efforts or a marketing student looking to deepen your understanding of the field, Al Ries is a name you need to know! He is, without doubt, one of the most prominent gurus of strategic marketing. Hope you’ve found this week’s insights interesting and helpful. <     Stay tuned for next Monday’s Marketing Marvels! Tom Ford, a luxury fashion brand that sells high-end men’s and women’s clothing, eyewear, watches, cosmetics, and fragrances, has been one of the most recognizable names in the fashion industry for almost 2 decades now. Learn more about Tom Ford and his luxury brand on next week’s Marketing Marvels!