By Andy Dyer

Marketing speak

Brand

Buzzwords

Marketing Terms

The Epik Guide to Marketing Speak

Marketing is full of buzzwords. Understanding them could be the difference between failure and success.

WhatDescriptionExample
Vision statement

 

Where are you heading? Where do you want to be? The Vision Statement is your organisation’s road map. It sets the direction for growth, so everyone can align on the same goal.

 

A just world without poverty (Oxfam)

A computer on every desk and in every home. (Microsoft – at its founding)

 

Mission

 

What does your company do? How does it do it? And why?

 

To accelerate the world’s transition to sustainable energy (Tesla)

Bring inspiration and innovation to every athlete* in the world. (*If you have a body, you are an athlete.) (Nike)

Values

 

Your core beliefs.Googles Values:

1. Focus on the user and all else will follow.

2. It’s best to do one thing really, really well.

3. Fast is better than slow.

4. Democracy on the web works.

5. You don’t need to be at your desk to need an answer.

6. You can make money without doing evil.

7. There’s always more information out there.

8. The need for information crosses all borders.

9. You can be serious without a suit.

10. Great just isn’t good enough.

 

 

Value proposition/ Brand promise

 

Your value proposition and brand promise should both focus on the one or two key points that differentiate your brand from the competition.

For example, Volvo’s brand proposition is ‘safe’, which can be expressed as the promise, “We offer a safe ride to parents who want to protect their family”.

Example brand promises:

The smartest way to get around (Uber)

The world’s most refreshing beer (Coors Light)

The ultimate diving machine (BMW)

Brand personality/ Brand voiceThink of your brand as a person. What emotions and personal qualities do want customers to associate with it? How does your brand connect, inspire, entertain?e.g. Honest, Spirited, Intelligent, Charming, Authoritative, Rebellious, Confident etc.
Brand tone

(or TOV)

While your personality and voice are constant, the tone of voice (TOV) can flex. Just as you might change the way you speak at a formal business dinner versus a night out with friendsAmazon report to shareowners:

“One thing we’ve learned from the COVID-19 crisis is how important Amazon has become to our customers. We want you to know we take this responsibility seriously, and we’re proud of the work our teams are doing to help customers through this difficult time.”

Amazon on Twitter:

“Catch up on the full star-studded One World: #TogetherAtHome concert! If you’re a Prime member, head to @primevideouk to see performances from some of the world’s biggest artists, but hurry, it’s only available until Tuesday 21st April.”

 

Brand Essence

 

What are your brands core characteristics?

The essence is usually emotional and distills all the brand elements into one or two words.

Simple Elegance (Apple)

Safe (Volvo)

Driving Pleasure (BMW)

Relentless (Adidas)

Brand positioning

 

How is your brand positioned in the mind of your customers? How is it positioned against the competition?Three main ways to position a brand:

1.     Own the category

Great taste, less filling (Miller Lite beer)

2.     Treat customers differently

Have it your way (Burger King)

3.     Define yourself against the competition

We’re No.2. We try harder (Avis)

Positioning statementHow does your brand fulfil customer needs in ways the competition don’t?“For athletes in need of high-quality, fashionable athletic wear, Nike provides customers with top-performing sports apparel and shoes made of the highest quality materials. Its products are the most advanced in the athletic apparel industry because of Nike’s commitment to innovation and investment in the latest technologies.” (Nike)
Reasons to believe

(or RTBs)

 

What proof can you produce to convince customers of your claims?

For example

·       Reviews and testimonials

·       Experience and expertise

·       Awards & accreditations

·       Scientific proof/ numbers

Reviews and testimonials

The No.1 Dentist Recommended Toothpaste for Sensitive Teeth (Sensodyne)

Experience and expertise

‘A history dating back to 1706’ (Twinings)

Awards & accreditations

European Car Of The Year 2020 (Peugeot 208)

Scientific proof/ numbers

4 million business run on QuickBooks (QuickBooks)

Elevator pitch

 

As the name suggests, imagine you have the length of a lift journey to sell your brand. Make it quick, make it compelling, make it count.WeWork Elevator Pitch:

There are 40M independent workers in the US: consultants, freelancers, and small business owners.

Solving office space is tough and expensive, especially in cities like New York. We created the concept of space as a service.

We have 20 locations in the city- where people can rent a desk or an office without any of the complications of a traditional lease, effectively saving at least 25% of the cost. They get access to a shared front desk, mailroom, and a community of like-minded people

Points of difference/ Brand differentiation

 

How does your brand stand out from the crowd?Dell example:

“Dell computers lets people choose their components and assemble their own systems – different from ready-made machines with no customisation”

Target audience

 

Who is most likely to buy from you?

If you’re a B2B brand, which companies are you selling to? Who makes the buying decisions? Make sure you create messages that speak to all audiences.

 

 

 

 

 

 

 

 

Adidas target market*

Main target is 20-29-year-old athletes or people passionate about sport. Also focused on targeting and strengthening its future brand with athletes aged 14-19. (Adidas believes this target group is the most influential consumer group in the world.)

Small, medium-sized businesses (Sage 50)

Affluent men and women between 25-50

(BMW)

Brand perception

 

 

What do people think of your brand? What was it in the past? What is it now? What do you want it to be in the future?

 

Fox News is a classic example. To loyal viewers their old slogan “fair and balanced” was self-evident. To people who don’t like Fox, they’ve always been the opposite.
Epik MarketingWhat do you want to achieve? How can we help? Talk to Epik at any stage of your journey and we’ll help you demystify marketing. Just call +44 207 459 4433See www.weareepik.com

*Source http://heartofcodes.com/marketing-strategy-of-adidas-adidas-target-market/