The Visionary Chronicles

Digital Retail Revolution | How Visionary Brands are Building the E-Comm Landscape

CHRONICLE 162
CHRONICLE: July 23rd, 2024
Digital Retail Revolution | How Visionary Brands are Building the New E-comm Landscape
 
"In a crowded marketplace, fitting in is a failure. In a busy marketplace, not standing out is the same as being invisible."
                                                                                                                                                                                                                      Seth Godin
Welcome to The Visionary Chronicles. Today, we're diving into the future of e-commerce. We'll look at how Visionary, a leading-edge brand, is adopting emerging technologies to reshape online retail and the evolution of new digital-age consumers.
E-commerce has seen explosive growth, accelerated by the global pandemic. In 2023, global e-commerce sales hit $6.3 trillion, projected to reach $8.1 trillion by 2026. This isn't just growth; it's a seismic shift in how we shop and do business.
Let's start with the tech transforming online shopping to understand the opportunity. Currently, augmented and virtual reality are creating immersive buying experiences. Imagine virtually trying on clothes or visualizing furniture in your home before buying. Companies like IKEA and Warby Parker already use AR to boost sales and reduce returns.
Voice Language Processing (VLP) through Voice commerce is another game-changer. With smart speakers in millions of homes, voice shopping is set to hit $80 billion annually by 2023. Alexa, order more coffee pods!
Another rapidly growing technology is AI and machine learning, which are personalizing the shopping experience like never before. They predict what you want before you know you want it, and Netflix video or Nike style recommendations are becoming the norm across e-commerce.
Blockchain is also enhancing security and transparency. It's not just for crypto anymore. Walmart uses blockchain to trace food from farm to shelf, boosting consumer trust.
Also, let's talk about changing consumer behaviors. Mobile is now king. Over 70% of e-commerce sales now happen on smartphones. If your site is mobile-optimized, you're gaining customers. Simple to do, not everyone does it! Just Do it!
Sustainability is no longer optional. 65% of consumers want to buy from purpose-driven brands that advocate sustainability. This applies to products, packaging, shipping, and corporate practices. To gain an edge beyond product, build a sustainability story into your brand.
Social commerce is also booming. Platforms like Facebook, Instagram, and TikTok are becoming virtual malls. Live shopping events, popularized in China, are gaining traction globally. These are brand strategies that, if adopted and authentically managed, can build both revenue and brand equity over time.
Vertical buying journey. Consumers now expect seamless omnichannel experiences. They might research on mobile, buy on desktop, and pick up in-store. Brands that can't offer this flexibility are falling behind.
So, what does this mean for brands or entrepreneurs? It's a world of challenge and opportunity. You need to stay agile, embracing new technologies and platforms. But you don't need to do everything. Find your niche. Maybe you focus on sustainability, or perhaps you excel at creating AR experiences.
The key is to know your customer. Use data to understand their preferences and behaviors. Personalization is no longer a luxury; it's an expectation.
Avoid trying to compete with Amazon on logistics. Instead, compete on experience, on curation, on community. Build relationships with your customers that go beyond transactions.
Looking ahead, what can we expect? The lines between physical and digital retail will continue to blur. We'll see more experiential retail, where stores become showrooms and fulfillment centers for online orders.
Cryptocurrency payments will become more mainstream, offering new ways to transact globally.
The metaverse presents intriguing possibilities. Virtual storefronts in shared digital spaces could revolutionize how we discover and interact with products.
To wrap up, here are three key takeaways:
Embrace technology, but always in service of enhancing the customer experience.
Focus on building relationships and community around your brand.
Stay agile and ready to adapt to new platforms and consumer preferences.
The future of e-commerce is exciting and full of potential. It's not just about selling products online anymore; it's about creating digital experiences that delight and engage customers.
That's all for this episode of The Visionary Chronicles. If you found this valuable, please share it with a fellow entrepreneur. And remember to subscribe for more insights on the future of business.
Until next time, keep innovating and stay visionary.
 
Stay True, Stay Authentic, be Different, and be Great!
Enjoy the Journey!
 
Bryan Smeltzer, President
LiquidMind Inc.
#TheVisionaryChroniclesPodcast
#TheVisionaryBrandBook
 
@LiquidMindsite.com
@BryanSmeltzer.com
 
 © All rights reserved, Bryan Smeltzer, 2024

The Visionary Brand | The UX | User Engagement Strategies

EPISODE 161           
CHRONICLE: July 10th, 2024
 
Content from Bryan’s new Award Winning, Bestselling Book
The Visionary Brand, The Success Formula Behind the World's Most Visionary Brands.
Readers Favorite Award Winner, Best, Non-Fiction, Marketing Genre Business book
Amazon Bestseller
 
The Visionary Brand | The UX | User Engagement Strategies
"Creativity is just connecting things. When you ask creative people how they did something, they feel a little guilty because they didn't really do it, they just saw something. It seemed obvious to them after a while. That's because they were able to connect experiences they've had and synthesize new things.” – Steve Jobs
 
THE UX | ENGAGEMENT
User engagement must happen early and frequently as you provide value to your current or potential customers. Of course, value can take several forms and functions. Most powerfully, it can be offered through personalization, which bonds the customer to your brand lifestyle as we saw in the previous podcasts. Everyone wants to feel wanted and understood, no matter what you sell. The closer you can match an experience to individual needs, the closer you come to building a relationship with the customer, eventually turning them into a brand advocate (part of the community) or ambassador (part of the brand).
Engaging with current customers within the Loyalty Loop and securing new consumers is a delicate balance for brands. Visionary brands use a clearly defined UX and engagement strategy to balance value with acquisition effectively. The value proposition can cross over to the acquisition side, but its approach is much different as it matches lifestyle enhancement versus price point compression.
Once a customer has joined the brand community, they will adapt to the brand’s product life cycles and choose either early adopter or late adopter product acquisition timing. A brand’s ability to know where their customers are on the adoption curve will tip the marketing investment scales relative to messaging, personalization, and social engagement, in addition to Lifetime Customer Value (LTV).
This is a fine art, and being able to read demographic profiles, engage with personalization, and consistently message lifestyle improvements through the adoption cycle will help you attain a loyal base of brand advocates. These advocates are the ones who allow you to control your brand’s destiny . . . but it wasn’t always so easy.
Before direct-to-consumer (DTC) channel opportunities, brands would only engage through one-way external communications such as; mailers, flyers, unsolicited e-mails, etc.—none of which allows for the kind of personalization that can be realized today. This world is much different now, where brands are in the driver’s seat. This is an essential shift in our culture, as brands want to control their engagement across all channels (ref. the Omni-Channel podcast). In maintaining their destiny, they can better define all aspects of the purchase loop, marketing, product cycles, engagement platforms, and direct communications.
Of course, you must know how to drive through this shift! Even as your brand is more equipped to secure its own future, there is also the need to understand the intricacies of building, developing, and growing brand awareness and equity. With time, this is relatively easy and inexpensive, though you will now find more tools to fine-tune your engine. The digital world we live in waits for no one, so either jump in and start driving or run the risk of getting run over.
Engage with your current customers, stay true to your brand foundation, and build trust and loyalty while advocating the virtues of your products. These current advocates are your company’s most valuable asset, and will assist with acquiring new members into your community. They can be measured, they can be engaged, they can be activated . . . or they can be ignored. Ensure you do not ignore—always engage, always provide value beyond product, and you will be rewarded with a mutually beneficial relationship.
 
“Take care of your customers and they will take care of you.”
 
THE UX | EMPATHIZE
Understanding and empathizing with your customers brings a personal touch to your creations. Empathy is understanding your consumers’ world, perceptions, and values and providing products or solutions that enhance their lifestyle, either through better products or processes.
This personal touch perspective reflects the simple sophistication principle we discussed earlier, bringing your vision of a better way to life—simplicity in the product design, The
sophistication in how it makes your world better. Visionary brands find this both challenging and enlightening, as it makes you leave your comfort zone and move into the reality of the solution you want. It drives ongoing passion for the product and how it will improve one’s life by saving time, improving relationships, or being more efficient or effective. Whatever the motive, creating this product is a labor of love for the brand team.
In defining what creates an attribute worthy of providing empathy for its end user, brands will ask:
 
Is this a solution looking for a problem, or a problem looking for a solution?
 
As simple as this question sounds, many brands have yet to ask it and ventured forward, blinded by their short-sightedness.
Finding solutions to everyday problems is an easier path to success, as it can be translated more effectively and realized quicker by end users. The beauty of finding a solution is found in its application in the real world, where the idea becomes reality. In creating solutions, there is a way to connect the community to the brand and eventually to a product ecosystem fully integrated with their daily life. This drive to join the ecosystem is driven by empathy, as the customer is looking for solutions that are not yet reality but are opportunities to simplify their life.
Throughout The Visionary Brand, we have discussed these vertical brand touchpoints. The more interconnected they become, the more diverse the ecosystem becomes to satisfy the needs of many while personalizing the experience for each. Empathy may seem intangible, but the more tangible a brand makes this connection, the more it finds how much its products have impacted individuals, families, and communities across its community.
Empathy is intuition about when something suits the brand and can genuinely impact a person’s life. When you give a person the ability to spend more time at home with the family or a loved one, this value becomes tangible. Visionary brands understand the impact of this tangible value, and ultimately, revenue growth follows. Visionary brands think beyond products; they value the solutions their products provide for their community.
Ultimately, building a visionary-quality UX is about putting together building blocks to form a complex structure for engaging and interacting with your consumers. From the idea through to purchase, you’re shooting for a seamless execution of a brand that knows the wants and needs of its customers better than they know themselves.
Understand your customers. Empathy for improving their lives will help you find solutions to give them what they currently do not have—more time, family, money, and life. Let this empathy fuel your brand’s interactions and product pipeline. This will make you visionary in your customers’ eyes and make your brand a valuable part of their everyday lives.
 
Stay True, Stay Authentic, be Different, and be Great!
Enjoy the Journey!
 
Bryan Smeltzer, President
LiquidMind Inc.
#TheVisionaryChroniclesPodcast
#TheVisionaryBrandBook
 
@LiquidMindsite.com
@BryanSmeltzer.com
 
 © All rights reserved, Bryan Smeltzer, 2024
 

Competitive Edge | Forging a Path to Market Domination

EPISODE 160           
CHRONICLE: July 3rd, 2024
 
Competitive Edge | Forging a Path to Market Domination
 
"Know your enemy and know yourself, and you can fight a hundred battles without disaster."
                                                                                                         Sun Tzu, The Art of War
 
The Forces of Competition, which determine strategic planning and marketplace execution, are shared among all industries. Those who can anticipate both industry and competitive moves will succeed for generations.
Anticipation is the "Art of War," and brands who fight and win the battle without having pulled a sword are the ones who have mastered the "Art of Competition." But unfortunately, many have gone to war and have shown nothing for their efforts; a strategy built on a foundation of brute force inevitably fails.
Find a way to determine outcomes before they are fought, and you will build a team and a brand set on a solid foundation, a fortress others cannot enter. Creating a culture where everyone knows their role, works together to ensure the foundation stands, and others envy what you have made and want to know your future Vision. The best they can hope for is to follow your path but never lead.
 
There are several forces brands must be aware of to execute The Art of Competition in the marketplace.
 
New Blood
With this scenario, new blood is the latest entry into your category, one who has a new idea and provides a potentially better service or product.
Combatting this competitor takes anticipation, an innovation process, and the ability to never look over your shoulder. Each of these allows a brand to advance with its Vision while ensuring this new blood is blocked or eliminated from establishing a beachhead without doing anything different. Changing course is not an option, but pivoting without disrupting your business is critical.
 
Scale
The scale was a strategy many were caught off guard by during the pandemic, and most were unable to recover in whole or in part.
However, the winning formula is to attain sufficient scale with a manufacturing matrix with the core competencies needed to produce a consistently excellent product and out-innovating yourself first.
 
Community
Loyalty, recurring revenue, and value creation are foundational to longevity. These pieces of your foundation will create a wall no competitor can climb.
This takes consistency, an understanding of who your customer is, what they value, and why they buy your products and is a strategic weapon built off your team's shoulders.
 
Commodity Players
The Imitators, not the Innovators, are the commodity players. They are not to be feared; instead, they are the ones to be called out and challenged at every turn.
Imitators churn great Ideas into inferior-quality products and lower-tier price points. As a result, they do not build a trusting, loyal community that embraces the value provided by the brand but rather a following looking for the next significant "draw-down."
Some have been successful with this strategy, but this is like building your foundation on the sand vs. rock. YOUR CHOICE.
 
Rivals
The most threatening part of a brand executing its future Vision is its direct Rival, those who have authentically built a loyal community, created their innovation pipeline, and stayed true to their foundation.
They are to be respected, but the Art of War principles are genuinely beneficial and provide the most benefit. You want to anticipate the moves of your Rivals,  find ways to outflank them, diminish their impact, and put the fires out before they start.
The Art of War is winning without having gone to battle. So what can you do to anticipate your Rival's next move and step out and take risks, never to relinquish your lead?
 
The Art of Competition is understanding the landscape, anticipating your Rival's moves, outflanking your Competition, and finding ways to win the battles through a strategy where you never have to draw your weapon! Find a way to win!
Stay True, Stay Authentic, be Different, and be Great!
Enjoy the Journey!
 
Bryan Smeltzer, President
LiquidMind Inc.
#TheVisionaryChroniclesPodcast
#TheVisionaryBrandBook
 
@LiquidMindsite.com
@BryanSmeltzer.com
 
 © All rights reserved, Bryan Smeltzer, 2024

Fail Faster | How Failing Can Lead to Success

EPISODE 159
CHRONICLE | June 26th, 2024
 
Fail Faster | How Failing Fast Can Lead to Success
 
"My great concern is not whether you have failed but whether you are content with your failure."
                                                                                 Wisdom from Abraham Lincoln
 
Failure is not fatal, but if you do not embrace Failure and make it a part of your Culture, it can prevent you from realizing your Vision.
Many companies profess to be "Innovative" yet squash any new out-of-the-box thinking that disrupts the company's status quo and your business category. Therefore, it is crucial to embrace your failures, learn from them, and adapt to move your IDEAs from paper to people.
Commercializing your IDEA is the inevitable goal, but if the product you envisioned does not match reality, there will be issues with your community and the brand itself. If you are to be a leader, you must embrace Failure and Risk to create what others may not have thought of or felt was impossible. Otherwise, you are truly just a commodity. Having the courage to do what is right for the brand is what all Visionaries have in common. Beyond product, beyond Culture, is sticking to your Foundational Principles, which drive your brand forward.
The brands that continually drive innovation embrace Failure as a learning experience and will be the ones to survive any storm. Look at history, and you will see brands that have failed and those who are still with us today. A common thread, stronger than steel, is the will to create what others said was impossible. This challenge brings out the passionate courage in all Visionaries and the satisfaction of proving others wrong. 
Remember Edison's famous quote when inventing the light bulb.
 
"I have not failed. I've just found 10,000 ways that won't work…."
 
Imagine if Edison had given up at so-called "Failure" on try 9,998? A different world than the one we live in today. I am thankful for his vision and perseverance in not giving up!
What are these Failure Stepping Stones to eventual Success?
Take Risks | No great product has ever been realized without Risk.
Embrace Risks | Different than taking risks, embracing Risk is part of your Culture.
Fail Faster | Assume Failure will happen and that it is necessary to create truly revolutionary products.
Succeed Sooner | By Embracing Risk and Failure, you are on a path to Success.
Failure is inevitable when creating anything significant! So embrace Failure and Risk and be rewarded with generational products and a culture committed to Success.
 
Stay True, Stay Authentic, be Different, and be Great!
Enjoy the Journey!
 
Bryan Smeltzer, President
 LiquidMind Inc.
 
#TheVisionaryChroniclesPodcast
#TheVisionaryBrandBook
 
@LiquidMindsite.com
@BryanSmeltzer.com
 
 © All rights reserved, Bryan Smeltzer, 2024
 

Generative AI | How Can Companies Successfully Integrate Artificial Intelligence

EPISODE 158
CHRONICLE: June17th , 2024
 
Generative AI | How Companies Can Successfully Integrate Artificial Intelligence
 
" Common sense is not so common.” – Voltaire
 
With all the madness around AI, having a clear, definitive plan in place is critical to long-term success; however, you must know the “Who?”, “What?”, “Why?, “When?” and “Where?” with your plan and execution. Before implementing, define the needs, determine resources, outline expectations, and determine the execution timeline.
Visionary brands can leverage Generative Artificial Intelligence (AI) to enhance the brand lifecycle execution process from ideation and product creation, marketing execution, development, sourcing, and operations, and gain a competitive edge.
Here are some ways in which Generative AI can be utilized.
 
Product and Service Innovation | Use generative AI to brainstorm and generate ideas for new products and services. AI models can analyze market trends, consumer preferences, and industry data to suggest innovative concepts. This can accelerate the ideation process and lead to the development of more innovative products.
 
Content Creation | Deploy generative AI for content creation, including writing articles, generating marketing copy, or creating social media posts. Language models can assist in producing high-quality, engaging content, saving time and resources for the business.
 
Personalized Customer Experiences | Implement AI-driven personalization in customer interactions. Generative models can analyze customer data to create personalized recommendations, messages, and experiences, enhancing customer satisfaction and engagement.
 
Automated Customer Support | Integrate generative AI into customer support systems to provide automated responses to common queries. This improves customer service efficiency, allowing team members to focus on complex issues while AI handles routine inquiries.
 
Supply Chain Optimization | Use generative AI to optimize supply chain processes. Predictive modeling can help in demand forecasting, inventory management, and logistics optimization, ensuring a more efficient and cost-effective supply chain.
 
Decision Support | Leverage generative AI for decision support systems. These systems can analyze large datasets, market trends, and various factors to assist brands in making well-informed, data-driven decisions.
 
Design and Creativity | Apply generative AI in design processes for graphic design, product design, or architecture. AI can assist in generating creative ideas, designs, and prototypes, enhancing the overall creative process.
 
Learning and Development | Use generative AI for employee training and development. AI-driven systems can create customized training modules, simulate real-world scenarios, and provide personalized learning experiences based on individual employee needs.
 
Predictive Analytics | Implement generative AI for predictive analytics. These models can analyze historical data to predict future trends, market changes, and potential risks, enabling brands to adjust strategies proactively.
 
Human Resources | Utilize generative AI in recruitment processes for resume screening, candidate matching, and even conducting initial interviews. This can streamline the hiring process and efficiently identify the most suitable candidates.
 
Cybersecurity | Enhance cybersecurity measures by using generative AI to detect and respond to potential threats. AI can analyze patterns in network traffic, identify anomalies, and predict and prevent security breaches.
 
Simulation and Scenario Planning | Use generative AI for simulating and planning various business scenarios. This can help brands test the resilience of their strategies and make informed decisions in anticipation of different outcomes.
 
Generative AI is a powerful tool, however when implementing generative AI in business, it's crucial to consider ethical considerations, data privacy, and potential biases in AI models. Regular monitoring, feedback loops, and continuous improvement are essential to ensure the responsible and effective use of AI technologies.
With these tools, which are improving literally by the second, it is important to stay ahead of this curve, or you will lose your competitive advantage, and potentially your foundational vision along the way.
 
Stay True, Stay Authentic, be Different, and be Great!
Enjoy the Journey!
 
Bryan Smeltzer, President
 LiquidMind Inc.
 
#TheVisionaryChroniclesPodcast
#TheVisionaryBrandBook
 
@LiquidMindsite.com
@BryanSmeltzer.com
 
 © All rights reserved, Bryan Smeltzer, 2024

The Visionary Brand | The UX Creating A Seamless Buyer Experience

EPISODE 156
 
CHRONICLE | May 31st, 2024
 
Content from Bryan’s new Award Winning, Bestselling Book
The Visionary Brand, The Success Formula Behind the World's Most Visionary Brands.
 
Readers Favorite Award Winner| Best, Non-fiction, Marketing book
Amazon Bestseller.
 
The Visionary Brand | 156 | PREMIUM | The Visionary Brand | The UX | Creating a Seamless User Experience
 
"Our DNA is as a consumer company - for that individual customer who's voting thumbs up or thumbs down. That's who we think about. And we think that our job is to take responsibility for the complete user experience. And if it's not up to par, it's our fault, plain and simply.” – Steve Jobs
 
A seamless user experience (UX) should always be the goal for any premium brand. The UX is a multifaceted puzzle built from the brand's foundational principles of the brand itself, and as such, you always need to look out for consumer time and value when it comes to UX. Being able to provide a seamless, fully integrated brand experience rather than a disjointed UX is a clearly defined point of difference over your competition.
Think beyond the purchase cycle; Visionary brands extend the UX into all company areas, and how a brand interacts at these levels will create an unforgettable UX by design.
For example, think of when you engage with a brand. Whether product, information, events or some other value-driven need, the experience always sets a good brand apart from the rest and keeps you coming back.
There are several principles these brands have in common, and they are consistently always executed:
A great UX is seamless, with the end user in mind. Make it easy both with products and processes.
Time is money. Ensure you save your consumer time, both pre-purchase (brand consideration, product features, reviews, purchase process) and post-purchase (returns, credits).
Longevity, Lifetime Customer Value (LTV). “It’s always easier to take care of current customers than attract new ones.” Too many brands either choose not to engage with their current customers or do not have a process to deliver personalized, post-purchase value propositions and value beyond the product. Both of these omissions are detrimental to long-term, sustainable growth. I am always amazed when I engage with large and small brands that have failed to implement and integrate this into their brand.
Take care of your customers, and they will take care of you. Enough said.
Simplify your engagement points, empathize, and understand your customers. Nothing is worse than a lousy purchase experience except for a bad return experience. You may not like the execution of a seamless experience, but it must be the same on both ends of the engagement cycle.
76% of complaints are from having a bad service experience.
Make sure you do not do the same. Be different, be memorable, be personal.
The touchpoints experienced by a customer are what create your seamless, end-to-end UX cycle. From the outset of this book, I have continually mentioned that visionary brands think beyond an isolated or siloed approach. They analyze the overall UX, how this product will impact their daily lives, and how to develop it to be user-friendly and out of the box. At the very beginning of a product’s development, they are asking questions such as:
“How will this make our lives better?” “Where does it fit?”
“Why are we doing this?” “What is our POD?”
“When will it be ready?” “Who will buy this?”
These need to be asked early on, and unless they are cohesively and collectively answered with a clear strategy built around marketplace execution, the answers will not be apparent to those you are communicating with. You cannot be at all places at all times, so ensure your voice is adequately translated through your consumer engagement, whether online or in person. This can take the form of product marketing literature translated in easy terms, sites dedicated to brand or product experiences, merchandising, point of purchase, videos, or ambassadors, to name a few. All of this pre-product commercialization planning leads directly to an excellent UX.
Creating a seamless buyer experience is essential for consumer brands aiming to sustain lifetime value, build loyalty, and increase customer satisfaction. Here are key strategies to achieve this:
Understand Your Customer’s Journey
Mapping the Journey | Identify all touchpoints where customers interact with the brand, from awareness to post-purchase.
Persona Development | Create detailed customer personas to understand their needs, preferences, and pain points.
Consistent Branding
Uniform Messaging | Ensure brand messaging is consistent across all platforms (website, social media, emails, in-store).
Visual Identity | Maintain a consistent visual identity (logos, colors, fonts) to create a cohesive brand image.
Omnichannel Presence
Integrated Channels | Provide a unified experience across online and offline channels. Customers should seamlessly transition between them (e.g., buying online and returning in-store).
Responsive Design | Ensure mobile-friendly websites and apps are accessible on various devices.
Personalized Experiences
Data Utilization | Use customer data to tailor experiences, such as personalized recommendations, emails, and offers.
Customer Segmentation | Segment customers based on behavior, preferences, and demographics to offer relevant content and products.
Streamlined Processes
Easy Navigation | Design intuitive websites and apps with simple navigation and search functionalities.
Quick Checkout | Simplify the process with options like one-click purchasing and multiple payment methods.
Transparent Policies | Build trust by communicating shipping, return, and refund policies.
Superior Customer Service
Multi-channel Support | Offer customer support through various channels (phone, chat, email, social media).
AI and Automation | Implement AI chatbots for quick responses to common queries and issues.
Empowered Staff | Train customer service representatives to handle issues effectively and empathetically.
Technology Integration
CRM Systems | Implement Customer Relationship Management (CRM) systems to manage and analyze customer interactions and data.
Analytics| Use analytics to monitor customer behavior and optimize the buyer experience accordingly.
Community Building
Engage on Social Media | Create and participate in communities where customers can share experiences and feedback.
Loyalty Programs | Develop loyalty programs that reward repeat customers and encourage brand advocacy.
Innovation and Trends
Stay Updated | Keep up with industry trends and technological advancements to continually enhance the buyer experience.
Flexibility | Be adaptable and ready to implement new strategies that meet changing customer expectations.
 
By focusing on these strategies, consumer brands can create a seamless and satisfying buyer experience that meets and exceeds customer expectations, creating loyalty and encouraging repeat business.
 
Stay True, Stay Authentic, be Different, and be Great!
Enjoy the Journey!
 
Bryan Smeltzer, President
 LiquidMind Inc.
 
#TheVisionaryChroniclesPodcast
#TheVisionaryBrandBook
 
@LiquidMindsite.com
@BryanSmeltzer.com
 
 © All rights reserved, Bryan Smeltzer, 2024
 

Visionary Success | How Do Brands Sustain Generational Success

EPISODE 157
X CHRONICLE | May 30th, 2024
 
Visionary Success | How Do Brands Sustain Generational Success
 
" Success depends upon previous preparation, and without such preparation, there is sure to be a failure." – Confucius
 
Why do so few brands survive, much less gain generational success? This question is critical to defining a Visionary brand—those who have a Vision and maintain this Vision while sticking to their path regardless of circumstances. This strategy is much easier said than done, and this is why so few Visionary generational brands have achieved generational success.
Visionary brands that sustain generational success and growth typically exhibit several vital characteristics. Here are the primary strategies these brands execute relentlessly:
Strong Core Principles and Vision
Foundational Principles | They establish and maintain strong core values and a clear Vision that resonates and guides all their decisions.
Cultural Integrity | They ensure their values flow through the company culture and are reflected in all they achieve.
Innovation and Adaptability
Continuous Innovation | They invest in research and development to continuously innovate their products, services, and processes.
Adaptability | They are agile and can quickly adapt to changing market trends, consumer behaviors, and technological advancements.
Long-term Vision
Future Planning | They focus on long-term goals and strategic planning rather than short-term gains.
Deep Customer Journey Understanding
Customer-Centric Approach | They place the customer at the center of their business strategy, constantly seeking to understand and anticipate their needs.
Feedback Loops | They create strong feedback mechanisms to gather and act on customer insights continually.
Brand Legacy and Storytelling
Compelling Narrative | They build a strong brand story that connects with people emotionally, fostering loyalty across generations.
Heritage and Evolution | They honor their heritage while evolving the brand story to stay relevant with newer generations.
Effective Leadership
Visionary Leaders | They have leaders who inspire and drive the company towards its long-term vision.
Strong Control | They implement clear structures that ensure stability and strategic direction.
Talent Development and Retention
Investing in People |  They focus on attracting, developing, and retaining top talent who share the company’s values and vision.
Inclusive Culture | They cultivate an inclusive culture that promotes diversity and innovation.
Strategic Partnerships and Alliances
Collaborative Efforts | They form strategic partnerships and alliances to expand their capabilities and reach.
Synergy Creation | They seek partners who complement their strengths and help them achieve their long-term goals.
Effective Brand Management
Consistency | They maintain consistent brand messaging and experience across all touchpoints.
Reinvention | They periodically refresh their brand to stay relevant without losing their core identity.
Financial Shrewdness
Sound Financial Practices | They manage their finances wisely, ensuring they have the resources to invest in growth opportunities and weather economic downturns.
Reinvestment | They reinvest profits into the business for innovation, expansion, and improvement.
Technology Integration
Leveraging Technology | They harness the power of technology to enhance operational efficiency, customer experience, and market reach.
Digital Transformation | They embrace digital transformation to stay ahead in an increasingly digital world.
Community Engagement
Building Relationships | They actively engage with their community and customers, building solid and lasting relationships.
Corporate Social Responsibility | They commit to social causes and give back to the community, strengthening their brand reputation and consumer loyalty
By personifying these principles and practices, Visionary brands can sustain their success and growth across generations, continually adapting and thriving in an ever-changing market landscape.
Stay True, Stay Authentic, be Different, and be Great!
Enjoy the Journey!
 
Bryan Smeltzer, President
 LiquidMind Inc.
#TheVisionaryChroniclesPodcast
#TheVisionaryBrandBook
 
@LiquidMindsite.com
@BryanSmeltzer.com
 
 © All rights reserved, Bryan Smeltzer, 2024
 

The Visionary Brand | The FUEL | Inspire Through Personalization & Ambassadors

EPISODE 154
CHRONICLE: May 22nd, 2024
 
Content from Bryan’s new Award Winning, Bestselling Book
The Visionary Brand, The Success Formula Behind the World's Most Visionary Brands.
Readers Favorite Award Winner: Best, Non-fiction, Marketing book
Amazon Bestseller.
 
The Visionary Brand | The FUEL | Inspire Through Personalization & Ambassadors
 
" Inspiration exists, but it has to find us working.” –  Pablo Picasso
 
INSPIRE THROUGH PERSONALIZATION
 
To create and maintain your strategy for maintaining and growing a premium brand, you can’t just invest in product creation; you must also invest in developing the messaging, marketing, and merchandising. To be perceived as premium, the message must match the reality at all levels of consumer engagement, from the anticipation of the purchase activation and eventual use.
Visionary brands separate themselves from the competition at each level of engagement; knowing each point of contact is critical to the brand's overall success. The best way to manage this engagement is through personalization.
Inspiring your community through personalization is the holy grail for visionary brands. Achieving this strategy successfully will give you access to significant amounts of data, metric analysis, and dynamic reporting to sharpen your focus. The most efficient way to gather this information and decipher what is needed versus what is not is by using AI (artificial intelligence) to provide accurate, individualized data targeted to the consumer level, the amount of analysis that must be computed and spit out into a legible format is mind-boggling.
Measuring long-term consumer value through tangible metrics is critical to the predictability of brand equity and revenue growth. This measure was previously unattainable but is now a critical digital dashboard for any brand's ongoing heartbeat.
Pre-purchase acquisition costs, transaction value, turn rate, and post-purchase value are essential metrics. The more focused a brand is on refining these targeted campaigns, the better they can personalize the UX, enhancing loyalty and defining lifetime value.
Brand personalization is a powerful strategy that allows businesses to connect with their consumers on a more personal and individualized level. By tailoring their products, services, and communication to meet the specific needs and preferences of individual customers, companies can create a more engaging and memorable brand experience. The following are some key aspects to consider for effective brand personalization.
Data Collection and Analysis | Gather and analyze customer data such as purchase history, browsing behavior, demographics, and preferences. This data can provide valuable insights into consumer interests, needs, and tendencies, enabling personalized offerings and messaging.
Segmentation and Targeting | Use the collected data to segment customers into specific groups based on shared characteristics, behaviors, or preferences. This allows for targeted and tailored marketing and product offerings that resonate with each segment's unique needs.
Personalized Communication | Leverage customer data to personalize communication channels like email, social media, and direct mail. Address customers by name, reference their specific interests, and provide personalized recommendations or content relevant to them.
Customizable Products and Services | Offer customization options, allowing customers to personalize products or services according to their preferences. This could include customizable features, configurations, personalized packaging, or branding.
Personalized Experience Journey | Tailor the user experience on websites, mobile apps, or in-store interactions to match individual customer preferences. This could include personalized product recommendations, content, or navigation based on their browsing and purchase history.
Loyalty and Rewards Programs | Implement personalized loyalty and rewards programs that recognize and reward customers based on purchase behavior and preferences. This can foster a sense of exclusivity and increased engagement with the brand.
Customer Support and Service | Provide personalized customer support and service by leveraging customer data and interaction history. This can enhance the overall customer experience and strengthen the brand-customer relationship.
Continuous Optimization | Regularly analyze customer data and feedback to refine and optimize personalization strategies. Continuously improve the personalized experience based on customer behavior and preferences.
By effectively implementing these aspects of brand personalization, businesses can create a more meaningful and engaging connection with their consumers, increasing customer loyalty, satisfaction, and, ultimately, better business outcomes.
 
ASPIRE THROUGH AMBASSADORS
 
Keeping the fire of your brand fed with plenty of fuel isn’t easy. Fortunately, you don’t have to do it all on your own! Visionary brands utilize brand ambassadors to support the internal team. These are the individuals who carry the brand’s voice beyond the company's four walls, the ones who are the most passionate users of the brand’s products and consistently promote the product benefits.
The key is finding ambassadors who are authentic to their category. If you are a running brand, find an authentic runner; if you are a football brand, find an elite (NFL) player. It seems
simple, but most companies do not understand the value this provides to a brand. Along with being authentic, make sure they have a following you can leverage.
For this strategy to work as planned, the brand ambassadors’ reach and voice need to be authentic, meaning they are always honest in their opinions. Brand ambassadors must be carefully selected, as they are an extension of your brand and reflect your product and culture.
Be selective but also proactively engaged with your brand ambassadors. They will give you reach beyond what the average digital metrics can provide. They give you a “ground force” of visual and verbal tangible touchpoints.
Visionary brands engage with their ambassador community throughout the creation process, as they can provide feedback for the product team when necessary and guide the development of the latest product.
Sportswear brands heavily utilize professional ambassadors to promote their products through various strategies.
Endorsement deals and sponsorships | This is one of the most common and effective ways brands leverage professional athletes. They sign lucrative endorsement contracts with star athletes to become brand ambassadors and spokespersons. These athletes wear and use the brand's products during competitions, appearances, and advertisements, lending their star power and credibility to promote the brand.
Athlete signature lines | Many top athletes collaborate with sportswear brands to create their signature lines of products like shoes, apparel, and equipment. Brands associate the athlete's name, image, and personal style with these co-branded products, appealing to fans who aspire to emulate their athletic idols.
Athlete co-design and testing | Brands involve professional athletes in new product research, design, and testing phases. Their insights from firsthand experience help brands develop innovative, high-performance products. Athletes then validate and promote these co-created products on which they had input.
Social media influencing | With massive social followings, athletes act as influencers promoting brands on their platforms. Posts showing them wearing or using the brand's gear, training routines, and lifestyle content create aspirational appeal.
Brand campaigns and advertisements | Athletes are featured heavily in brands' marketing campaigns, TV commercials, print ads, and promotional videos. Their star power skills showcased through brand products create buzz.
In-person promotions and events | Brands invite sponsored athletes to make special appearances, host clinics, and participate in brand events and pop-up stores where they can interact directly with fans and consumers.
Athlete storytelling | Compelling stories about an athlete's journey, struggles, and values align well with a brand's storytelling. This personal narrative marketing highlights the brand's role in the athlete's success.
By strategically partnering with elite professional athletes across various sports, sportswear brands leverage their fame, talent, and relatability to drive product credibility, brand loyalty, and consumer aspiration.
These strategies utilized by Visionary brands provide ongoing authentication and loyalty, increasing customer lifetime value, which is the lifeblood of all companies, not just brands.
 
Stay True, Stay Authentic, be Different, and be Great!
Enjoy the Journey!
 
Bryan Smeltzer, President
 LiquidMind Inc.
 
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