Month: May 2020

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Naming: learn about the different types and see some tips on how to create a brand name

Naming conheça os diferentes tipos e veja algumas dicas de como criar o nome de uma marca

Those who dedicate themselves to understanding a little more about communication processes know that understanding a message comes through different elements. However, it is difficult to point out one that is more important than the name. It is how you introduce yourself, become known and convey ideas when quoted, written or referenced. And in the case of companies it is no different. Understand a little more about naming and check out some tips on how to create a brand name.

Quite simply, naming is the process of creating names for brands, which indirectly includes communicating beyond it. When it doesn't make any sense, people rarely make automatic connections, as in the case of Apple, which is linked to the idea of knowledge. Therefore, we can say that choosing the name is the first, and one of the most important, steps in branding actions.

Read too: What is Branding and why does your company need it?

The process of creating names for companies must take into account legislation and the availability for creating virtual spaces. Breaking laws and committing other acts of bad faith do not bear good fruit and are charged sooner or later. With this, it is necessary to take into account a number of factors to arrive at the ideal name.

Naming is not done overnight.

Among the factors that must be taken into account are the public, concept, objectives, differentials, values, positioning and issues that are intended to be solved. In other words, the naming process is complex. But believe me, it's worth it. Check out the main elements to consider when creating a memorable name for a brand or product.

  • The name must be available;
  • Opt for something short and easy;
  • Think carefully about the meanings of the words;
  • Escape clichés and fads;
  • Affective and personal motivation are interesting, but beware;
  • Evaluate sound and writing;
  • Explore words in other languages.

Read too: Learn what SWOT is, a tool also known as FOFA

How to create a brand name? Know also the types of naming

It's not easy to come up with unique and dynamic ideas to find something that fits the market niche. Get to know the main types of naming, to think of some parallels that can help you in this important task.

● Descriptive: the descriptive name is the one that indicates what the company, product or service is or does. So, when hearing or reading it, people will immediately associate it.
E.g. Bank of Brazil.

● Experience: A brand name can also be chosen because of experience. In this case, it deals with the emotions and expectations provided by the brand.
E.g. the Amazon clothing brand.

● Invented: invented names may not refer to later experiences, but they certainly have their value. They are unique and, over time, gain strength in people's minds.
E.g. Häagen-Dazs.

● Toponymics: toponymic names make direct reference to the place of origin of the company or product.
Ex.: New York Times, Folha de S.Paulo.

● Patronymics: patronymic names, in turn, are based on names of persons.
Ex.: Colgate, Nestlé, Philips, Gillette, Ferrari and many others.

● Compound: already the compound names are the junction of two or more words for its composition.
Ex.: Gatorade is the fusion of the words Gator and Aid, which means “support for the Gators”, as an incentive to the football team of the University of Florida.

● abbreviated: the opposite can also occur, that is, with the abbreviation of another term, but with a unique sound.
Ex.: Intel, which is the shortening of the word “intelligence”.

● Suggestive: suggestive names are those that awaken the idea or memory of something.
Ex.: Antarctica, whose product is usually consumed chilled.

● Acronyms: another very common resource when creating names is a kind of abbreviation, the acronyms.
Ex.: SBT (Brazilian Television System), 3M (Minnesota, Mining and Manufacturing) and LG (Life's Good).

Read too: 9 tips on how to retain your customers

After all, how do you come up with a brand name and how do you know you made the right choice?

Naming is not magic. However, there is a methodology that can help in this task so as not to start from scratch. The first step is the investigation, moment to raise the attributes of the brand, as mission and values, cultural and geographic factors, as well as the target public.

Read too: Learn a little more about the 80/20 rule, also known as the Pareto Principle

The second phase is the brainstorming phase. Promote a dynamic with those involved in the project by making a cloud of words that refer to the idea. Here, there is no need to restrict possible bad choices, the objective is precisely to let creativity flow, so that, then, in the filtering phase, the elimination of what did not work very well is done. Later, in the analysis stage, it is necessary to be a little more careful, answering some questions:

● Is it easy? Your name must be simple to pronounce and write;
● Is it impactful? It must stand out in the eyes of the consumer;
● Is it expressive? Another crucial naming factor is representing the purpose of the brand;
● Is it unique? It is essential to differentiate you from the competition;
● Is it memorable? The name should ring like a gong in the consumer's mind;
● Is it pleasant? The appearance of the name should also appeal to the audience;
● Is it available? Is the domain (URL) and top profiles available?;
● Is it traceable? Your brand must be found by people in the digital environment;
● Is it versatile? See if the name can be used elsewhere in the world, if there is interest in expansion.

Read too: Know what Performance Marketing is

Before putting the tips on how to create a brand name into practice, consider partnering with a communication agency.

Throughout this article, it is possible to observe that choosing a name for the brand is not a very simple task, as it involves several tests, application of techniques, in addition to all the bureaucratic part. Therefore, having a specialized and experienced team in this process can speed up a lot of things, in addition to ensuring that everything is being done in accordance with Brazilian legislation.

Last but not least, a communication agency or an internal team focused on the area will make all the difference for the construction of the visual identity, creation of social media with that name, as well as medium and long-term planning of marketing actions. , either online or offline campaigns, feasible with the budget available for such actions.

Alliance Comunicação has been in the market for over 10 years, offering the best solutions in the area to its customers, including Branding Management. Click here to learn more.

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Learn what SWOT is, a tool also known as FOFA

Aprenda o que é SWOT ferramenta também conhecida como FOFA

Used as a strategic planning tool in project management, to analyze scenarios and support decision making, the SWOT analysis, or SWOT, is widely used by companies that want to implement a project, such as the launch of a new product. This is due to the fact that it provides a complete diagnosis of the situation of the brand and the environments that surround it. But, after all, what is SWOT?

SWOT is an acronym formed by the words Strengths, Weaknesses, Opportunities and Threats which, in Portuguese, takes the abbreviation FOFA (Strengths, Opportunities, Weaknesses and Threats). Since, strengths and weaknesses refer to the internal analysis, with positive and negative points of the company or project in planning. That is, factors that, for the most part, are under the control of the brand and can be modified.

Read too: Learn a little more about the 80/20 rule, also known as the Pareto Principle

On the other hand, the external environment analyzed in opportunities and threats cannot be interfered with. They range from market analysis, competition, suppliers to the political, economic, social and cultural macroenvironment. The result of the analysis of these factors generates a 2×2 matrix, called the SWOT Matrix, which divides the four analysis results into internal/external and positive/negative factors. In this way, a complete overview of the factors that can determine the success of your project is obtained.

What is SWOT: Internal Environment Analysis

In the internal environment, it is possible to have control of everything that involves the project, such as intellectual capacity, technology used, communication and marketing actions, as well as organizational culture, management, among other elements. As previously stated, within the internal environment, strengths and weaknesses must be analyzed. Therefore, you need to evaluate criteria such as:

  • Location;
  • Time to market;
  • Reputation;
  • Financial resources;
  • Human resources, the specific skills of the team;
  • Marketing/Media;
  • Management;
  • Access to raw material;
  • Operating capacity;
  • Assets such as real estate, materials and equipment (technology quality);
  • Service;
  • Production;
  • Creation;
  • Strategic relationship with large companies;
  • Traffic, the portfolio of customers.

Forces

In strengths, you should analyze the advantages and differentials that your business and/or project has in relation to competitors. Also check internally the availability of resources for the maintenance of services or products. All of this will provide you with a solid foundation.

weaknesses

With regard to weaknesses, outline all those aspects that may be bad for the business, such as high transport costs, employees with more expensive hourly rate. It is also very important not to forget to include your weaknesses in relation to the competitor, which may be less activity on social networks, among other factors.

Read too: 9 tips on how to retain your customers

What is SWOT: External Environment Analysis

In this topic are questions related to politics, macroeconomics, environmental disasters, interest rate and competition. With this, it is essential that the company is attentive to everything that involves the market in which it operates. The SWOT analysis related to the external environment, in general, involves:

  • Customers (behavior, bargaining power and other things);
  • Suppliers (your bargaining power and theirs, for example);
  • Competitors (direct and indirect);
  • Entry barriers for those just starting out (what are they, how can they get in the way);
  • Substitutes (workarounds that exist for your customers and if there are serious threats);
  • Intermediaries (which ones exist in the segment, their bargaining power);
  • Class entities (how they are organized and whether they have pressure power).

What is SWOT: macroenvironment is another indispensable factor for analysis

The macroenvironment refers to everything that is beyond the company and the segment. Therefore, it is important to analyze what economic indices have to say, social trends and how these aspects influence your brand. Check out some examples:

  • Law projects, rulers in power, ideological currents (politics and legislation);
  • Inflation, consumption levels and average income of the population (economy);
  • Birth rate and average educational level of the population (demography);
  • New technologies, operational processes, automation;
  • Beliefs, values, customs and consumption habits (society and culture);
  • Scarcity of raw materials, catastrophes, increased pollution (environment).

Opportunities

Here you should list everything that, in some way, is positive for the customer, such as economic growth, increased interest in a particular service and/or product, good momentum for the brand, etc.

Read too: Know what Performance Marketing is

Threats

Finally, we have the threats, a scenario in which all the unfavorable factors for the company are concentrated. Here, too, it is important to take stock of the losses at stake. Much damage can be prevented in this quadrant of the matrix.

Read too: Understand what Lifetime Value (LFT) is and why it is important to know how to apply this concept to your brand

What are the main advantages of the SWOT matrix?

A solid SWOT analysis is not done in a short time, it can take weeks to gather data and draw an intelligent line of reasoning from them. However, it is worth mentioning that this tool can bring answers not only to projects that will work, but also to avoid the execution of ideas that would be catastrophic for the brand and its reputation. No wonder it is so popular with entrepreneurs.

Brainstorm with your team and turn the 2×2 matrix into a strategy. It will lead to conclusions about the brand's strategic position, potential for improving products and services, insights to solve problems and new services, prioritizing actions, as well as promoting partnerships that until then would not even be considered.

Read too: What is Branding and why does your company need it?

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Learn a little more about the 80/20 rule, also known as the Pareto Principle

Saiba um pouco mais sobre a regra 80 20 também conhecida como Princípio de Pareto

Whether in sport, security, personal life or socioeconomic analysis, many analysts apply the Pareto Principle to make their observations. In this rule it is understood that 80% of effects comes from 20% of causes. Check out our today's content to learn a little more about the 80/20 rule and how it can be applied in marketing.

Origin of the Pareto Principle

Contrary to what many may imagine, the principle was not a suggestion by the Italian sociologist, political scientist and economist Vilfredo Pareto, but by the Romanian business consultant Joseph Moses Juran, who applied Pareto's observations in his authorial works related to the management of quality.

Read too: 9 tips on how to retain your customers

In one of the analyzes documented by the Italian, the cultivation of peas was observed, in which he noticed that only 20% of the pods produced approximately 80% of the grains.

Although the application of the rule is practically universal, it was the areas of administration and marketing that most contributed to the popularization of this concept with the publication of articles, books and cases in which the rule was applied in favor of productivity.

The 80/20 Rule in Marketing

As it is a rule, it is worth remembering that it is not an absolute truth, since there may be exceptions and even variations in this regard. Some scholars point out that alternations like 85/15 and 75/25 happen too. Another evaluation worth mentioning is that it is not recommended to apply this rule all the time, since the Pareto Principle is just a propensity for results.

Read too: Know what Performance Marketing is

Therefore, variables such as the market situation, target audience, investment and other numerical data are fundamental to be used as a basis for any commercial decision. Check below some data expressed by the 80/20 rule in marketing:

  • 80% from billing results from 20% from customers;
  • 80% of sales come from 20% of products;
  • 80% of the complaints are made by 20% of the customers;
  • 80% from sales are due to 20% from the sales team;
  • 80% of results are due to 20% of investments.

From this information, it is possible to mathematically design a relationship between effort and reward, in which 20% of inputs, efforts and causes are responsible for 80% of outputs, results and consequences.

In this way, the Pareto Principle turns out to be very useful in resource management, concentrating efforts and time of managers and employees on key points. That is, in the 20% that guarantee 80% of your return.

Pareto Principle in Digital Marketing

The percentages don't change much when we apply the Pareto Principle in Digital Marketing. Check out!

  • 80% of online sales are related to 20% of available products;
  • 80% of searches come from 20% of keywords (pattern also known as long-tail distribution);
  • 80% of traffic is generated by 20% of posts;
  • 80% of leads are generated by 20% of published content;
  • 80% of engagement is generated by 20% of audience.

That said, always have the results of your channels at hand, which can be websites, blogs or social networks, to focus more on producing content on the platforms that have the most engagement or leads.

Read too: Understand what Lifetime Value (LTV) is and why it is important to know how to apply this concept to your brand

Tips for adopting the 80/20 rule

As it was possible to see throughout the article, the 80/20 rule can be used in different ways, but this in no way means that it should always be applied and taken as an absolute truth. The results can indeed escape the rule. Therefore, always analyze your own reality and consider other variables.

The Pareto Principle is not a magic formula, much less a great universal law. It is simply a trend observed on several occasions, which can be used as a tool to optimize business productivity.

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9 tips on how to retain your customers

9 dicas de como fidelizar seus clientes

It doesn't matter where you're from or the size of your company, men and women business owners know how important it is to retain customers, as each loss to the competitor costs a lot. And if you assume that making up for that deficit with a new customer is simple, reevaluate. The cost of attracting a new customer can be five to seven times higher than maintaining a loyal one, as pointed out by marketing theorist Philip Kotler in the late 1990s.

Check out our article today to see how to retain customers ethically and effectively.

word of mouth marketing

Regardless of the market value of the business, word of mouth is a precious asset, as it is easily the most effective and reliable type of marketing out there.

But, after all, what is word of mouth and what does it have to do with customer loyalty? It is about taking advantage of people's power of influence, to indicate a service or product of the brand, emphasizing its qualities.

According to a survey by the Nielsen Institute, 92% of consumers surveyed around the world said they trust a referral from a friend or family member above all other advertising.

With social networks in play, word of mouth can have an even greater degree of amplitude, since publications from customers who are completely satisfied with your brand can reach people from the neighborhood, city, region and even the whole world.

Read too: Know what Performance Marketing is

Always have a plan at hand.

The answer to the question of how to retain customers takes planning and a lot of work. On this path, there are three steps in particular that can guide you and help you build a solid relationship with the customer.

  • Know your target audience well: to provide an excellent service, it is necessary to know perfectly the needs of the customers. In this way, when developing profiles of the target public and/or persona with the marketing team, it is possible to make technically based decisions, which will certainly contribute to the continuity of the customer.
  • Qualify your leads: Once you've created the profiles, you'll want to get a system in place to qualify your leads. Qualified leads are those who fit your profile and want, in addition to being motivated, to do business with you or one of your competitors.
  • Design your customer experience: by conquering the customer, the brand has a new challenge: to propose a largely satisfactory experience to him. So design his journey in a technical way. Thus, it will be possible to develop improvements in the products and even think of a new one, which will further strengthen the relationship with the customer.

Read too: What is Branding and why does your company need it?

Manage customer expectations

Negative experiences happen, however, they are often due to the fact that expectations are not met. And worse, maybe they never occurred to you or that external factors, beyond your control, got in the way and frustrated the customer. To do so, use this method:

  • 1st step: take advantage of social networks to talk to your customers and find out, as quickly as possible, what they expect from your product. Ask open-ended questions to listen and understand.
  • 2nd step: The key to managing a new customer's or customer's expectations is to be thorough and honest about all terms, even those you deem to be moderately important prior to purchase.
  • 3rd step: communicate well and frequently with the customer, especially in the case of complaints or service questions. Constructive criticism helps in brand growth.

Be honest in interactions with customers

Don't underestimate your audience, they feel it when they're just being used for profit. When they feel that way, they don't think twice about going to the competitor. The Know/Like/Trust (KLT) principle is also an important element in building a successful business, no matter the niche or business model.

Remember that sooner or later the truth always comes out. As a result, your company will only benefit from your commitment to integrity from the start.

Read too: Better understand the difference between Target Audience and Persona

Treat the customer like royalty

Throw the first stone who never stopped being a customer of a brand after having a bad experience. According to a survey conducted by Accenture, 87% of customers think companies should do more to deliver more consistent experiences.

Another factor that gets worse with this is the reverse effect of word of mouth marketing discussed at the beginning of this article. Because, when having a bad experience, the former customer does not think twice about negatively criticizing the brand to a friend or family member.

An interesting way out of this is to add features or services without increasing the price, whenever possible, and make sure that it is something desired by your audience. And in case you think about increasing the value, double-check about it and let your customers know clearly.

There is no way to retain customers without listening to them

With social media, it's easier than ever to let customers know about news and promotions. However, in addition to issuing announcements, it is also necessary to listen to what they have to say, be it good or bad feedback. Don't disregard what the public thinks, it is the lifeblood of any business.

1st point: be humble, and instead of trying to come up with ready-made answers or figure out how to convince them how wrong they are, listen first.

2nd point: be open to change and if you understand that customers are really right, change and don't forget to give them credit. It will certainly be a win for the brand.

Read too: Local Marketing: check out some tips that can help your business

Give customers solutions that fit their budget

Bolder entrepreneurs dream of winning over millions of loyal customers. But keep in mind that you can't do it all yourself, and you have to be smart about support.

Therefore, the ideal solution for your customer service needs is one that fits their budget, is easy for them to use, and also fits their core business system.

Learn to manage disruptive customers

Don't run away from responsibility. Disturbing customers and consumers can arise and it is necessary to know how to confront them, in an ethical, polite and obviously grounded way. One of the ways that can help you with this is the creation of a customer service policy based on the core values of the brand.

Read too: Digital Marketing: 10 trends your brand should pay attention to in 2020

The maxim “the customer is always right” is not true

At no time was the phrase “the customer is always right” mentioned.

There is no reason for that. Sometimes the consumer is not only wrong, but he crosses the line. There are no excuses for abusive behavior.

Set clear boundaries for customer support. There is no requirement that you have to accept being abused or harassed, and it goes without saying that you must never let employees abuse or harass you.

The customer is, however, human. Keeping this in mind can help you develop and communicate empathy, which can quickly pacify disgruntled customers.

Be open, be honest and look for feedback. Be prepared to act on customer feedback as soon as you are aware of it.

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New Facebook Supervisory Committee has a Brazilian; look

Novo Comitê de Supervisão do Facebook conta com brasileiro

Last week Facebook announced new names for the Oversight Committee. Among them, the one that stands out the most for us is Ronaldo Lemos, who is the only Brazilian of the 20 members. As reported on several news sites, Lemos is a lawyer and director of the Institute of Technology and Society in Rio de Janeiro.

Know more: Online Media: research points to growth of 26.6% in accesses to social networks

What is the role of the Facebook Oversight Committee?

The Facebook Oversight Committee is a tool that will have the function of deciding the platform's positioning in the face of controversies such as the repercussions of the offline world, analysis of the terms of use – to prevent dubious or controversial interpretations – in addition to removing and restoring content from social networks following user requests. In this way, discussions about what to remove, what to allow and why should be emphasized and directly impact the way users behave on the platform.

In an interview with the Uol portal, Lemos clarifies that the council is independent and that it is an autonomous organization, which will take care of issues from around the world related to both Facebook and Instagram collectively. That is, it will function as a collegiate body, in which no one decides anything alone.

Know more: Practical and dynamic: see how to use Whatsapp Business and optimize your company's communication

What is the Committee's guidance? of Supervision of Facebook and what to expect from him?

As the Facebook Oversight Committee is made up of members from around the world, it is expected that the plurality of voices will benefit the billions of users. “The council will be guided by international treaties that protect human rights and freedom of expression,” said Lemos in the interview that ended the speech by emphasizing that freedom of expression is the main focus of the new body.

Read too: Find out about the changes to Facebook Messenger that are in effect from March onwards for business pages

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Know what Performance Marketing is

Saiba o que é Marketing de Performance

Before buying an ad, the company conducts several surveys to find out which will be the best strategy. However, it is also necessary to know if the public was actually reached, otherwise all planning could be compromised. And this is exactly what Performance Marketing fits into.

To better understand the subject, it is necessary to know that this marketing category fits in the digital environment. Like the other strategies, the planning is aimed at reaching the greatest number of people, however, this case has a great differential.

Read too: Understand what Lifetime Value (LTV) is and why it is important to apply this concept to your brand

Unlike other strategies, Performance Marketing stands out for being advertising in the right place and at the right time, a method that allows you to save money on ads that never convert. By applying this methodology, it is possible to pay only when consumers engage with your ad, since the brand will know where to invest and what the exact results of that decision will be.

Check out some tips to implement Performance Marketing in your company

1. Define your segments precisely

The more specific your audience, the more specific your ad. And the more specific your ad is, the more relevant it is to your audience.

Read too: How Digital Marketing can help overcome the crisis

2. Opt for SKAG

Simplicity is the best way. Therefore, avoid complicating too much when choosing keywords. As tempting as it may seem, placing a high number of keywords will only complicate your Performance Marketing strategy. The more keywords you choose, the more SERPs you'll ask Google to place you on. Choose 20, and you'll have a lot of words to work with in your sales copy.

Therefore, choose only one for each ad group (SKAGs).

Read too: What is Branding and why does your company need it?

3. Understand the importance of writing good headlines

As it is the first contact that the public has with your ad, it is essential that the title is eye-catching and holds it. It's also important to remember to be direct.

4. Go beyond Google and Facebook

You're probably advertising on Google and Facebook for the same reasons everyone else is. But if you take the time to explore smaller niche networks, you'll find platforms where your ads will generate an even greater ROI.

Read too: Better understand the difference between Target Audience and Persona

5. Buy the best times

Betting on an ad means bringing people to your site and eventually convincing them. Therefore, one of the most effective Performance Marketing strategies is to plan a good time for the ad to appear.

It is important to monitor the campaign and evaluate the best times. The afternoon period, for example, is much more likely to convert the public into new customers.

6. Use remarketing lists for Search Network Ads (RLSAs)

Bidding on broader terms may seem risky, but under certain circumstances, bidding on popular terms or competitor names can be a great idea.

RLSAs allow you to rank for the broadest terms for the consumers you are remarketing to. Therefore, your ad will appear to users who have visited your site before. This means you can bid on broad terms to maximize your reach and still avoid new costs, as your ad will only run to past visitors. Put what you've learned about Performance Marketing into practice!

Read too: Local Marketing: set up some tips that can help your business

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What is Lifetime Value (LTV) and why apply this concept to your brand?

O que é Lifetime Value (LTV) e por que aplicar esse conceito na sua marca

Lifetime value (LTV) is a very simple concept. This is the total amount of profit or revenue – it is up to the company to determine which variable is most important to work on its strategies – obtained from a single customer during its entire lifetime. That is, a specific customer who buys your products annually will have a higher LTV than someone who buys every two years.

Read too: What is Branding and why does your company need it?

Why is Lifetime Value important?

It's important to have your customer's lifetime value at the tip of your pencil for very simple and practical reasons. First, because the cost of attracting a new customer can be five to seven times higher than that of keeping a loyal one, as pointed out by marketing theorist Philip Kotler in the late 1990s.

Another reason is that the probability of selling to an existing customer is 60 – 70% higher, as the article says Don't Get Lazy About Your Client Relationships published in Forbes, which cites data from the book Marketing Metrics. In contrast, the chances of selling to someone who has never used your product and/or service are 5 to 20%. In addition, existing customers are more willing to try new products compared to the public that does not consume your brand. There are estimates that point up to 50% more prone.

Read too: Better understand the difference between Target Audience and Persona

How to increase my client's Lifetime Value?

To increase your customer's LTV, you need to know them better than anyone else. That is, knowing your desires, needs, socioeconomic position, where you live and the entire booklet of your persona and/or target audience. What's more, hearing opinions about your product is essential to grow as a brand and gain competitiveness in the market.

By making a careful assessment of the answers obtained, the brand's strategic decisions will have a technical-numerical basis, which will actually serve the customer and will have many more chances of retaining him. After all, with the exception of price issues, nobody switches brands if they are fully satisfied with what is being offered.

Read too: Local Marketing: check out some tips that can help your business