The problem is even more complex when you consider that most people don’t know how to spot a brand that’s in trouble, due in part to the fact that they don’t know what impacts it. A brand consists of more than just a logo; it encompasses all the various elements that differentiate your company from another. These aspects certainly include your company identity program (name, logo tagline), as well as your online and offline sales and marketing materials, but a brand is also comprised of your products/services, people, physical space, and face-to-face or virtual demeanor. All of these elements (or touch points) create a perception in the minds and/or hearts of the marketplace when they come into contact with them.
Protecting Your Investment
Regardless the size of your organization, you’ve made some level of investment into marketing your business. Whether you operate a startup with multiple team members juggling marketing as they focus on other critical responsibilities or you’ve hired a team, including a marketing director earning over $126,000 a year and media managers who earn just below $100,000, your business needs to see a return on its investment.
Plus, as the opportunities for marketing continue to evolve, there’s increased fragmentation that requires more oversight of your brand to make sure that it’s consistent across all touch points. Without coordination, your business can generate individualized marketing campaigns that work against each other instead of cooperatively. This can lead to confusion about what your brand represents. And confusion often results in a loss of revenue.
So who’s policing your brand to make sure it serves its purpose?
There’s a New Sheriff in Town
If you aren’t familiar with the title, Chief Marketing Officer (CMO), it’s the badge given to the person whose primary responsibilities include developing and managing the implementation of marketing strategies, facilitating sales, and improving the company’s growth. The person holding this title operates at the C-level, and reports directly to the CEO. It’s the only role in an organization that combines left-brain (pricing, research and analytics,) and right-brain (promotions and advertising) actions, balancing innovative thinking with practical solutions. The person in this role must coordinate the needs of sales, IT, finance, customer service, and more.