Canadian Retailer - Spring 2016 - 34

BRAND STRATEGY

A deep understanding

David Kincaid, managing partner and founder, LEVEL5 Strategy Group.

BUILDING THE BRAND
With so many mediums available and touch points in the
shopping journey, it can be daunting for retailers to determine
which are the right channels for engagement. Kincaid offers
some tips for retailers to consider when building an effective
strategy for their brand.
Determine how to get the most value out of each channel:
Don't default to a "one size fits all" approach. Different channels
provide different utility. And certain channels, especially social
ones, can be better suited for engagement and interaction with
consumers than shouting a standard message.
Invest wisely: There are a myriad of channels out there, but
just because they exist doesn't mean they're a good fit for your
brand. You should only enter a channel with a clear strategy and
objective. It's better to ensure dollars are spent in places that
matter to your target audience.
Avoid chasing the latest shiny object: Though being on the cutting edge can have its advantages, it's important to let newer
mediums develop so that you are able to fully understand what
you are getting into before diving in headlong. Be sure to leverage only the channels that align to the brand.
Understand the consumer's motivation: Delivering on customer
needs throughout the customer purchase experience requires
an understanding of both rational and emotional drivers of purchase. This understanding allows retailers to stay in tune with
their audience's true motivators.

34 |

CANADIAN RETAILER | SPRING 2016

Given the number of channels and ways
to connect to today's consumer and tell your
brand's story in a captivating and engaging way,
it seems as though it should be relatively easy
to develop a brand marketing strategy. However, as David Kincaid, managing partner and
founder of LEVEL5 Strategy Group-a management consulting firm specializing in delivering
profitable transformational change-points out,
properly developing that strategy requires a
deep understanding of the consumer.
"As the media landscape continuously evolves,
the way that consumers become aware of and purchase products is evolving with it," he says. "The
traditional path to purchase, with discrete entry
and exit points, is giving way to a more fluid reciprocal experience between brands and consumers. It's therefore important, first and foremost,
to understand what the customer experience in
your category is-how are they engaging with the
category, how are they learning about products,
and how are they purchasing products?"
Once an understanding of the consumer's
behaviours and preferences is realized, Kincaid suggests that retailers must then understand
the role that their brand plays in the consumer's experience.
"What are the touch points in the consumers' journey where you have the opportunity to
intervene to keep your products top of mind?
And, what are the particular pieces of media
that best enable that intervention?"
Kincaid points to Loblaw's use of its loyalty
program, PC Plus, as a great way of staying in
front of the customer.
"The company's able to stay omnipresent in
the minds of grocery shoppers in a way that is
relevant to them. By sending out new tailored offers each week, Loblaw demonstrates that they
have a clear understanding of who its customers are and what they care to buy, while simultaneously reminding them about all that Loblaw
has to offer."
And because customer behaviours and preferences change with advancements in the industry, Kincaid offers one vital tip that can lead to
brand strategy success. And that is to continuously monitor and track customer behaviour.
"Adjustments have got to be made along the
way," he says. "Consumers are always changing,
so it's also important to review your understanding of their path to purchase every few quarters
to ensure that you remain relevant and competitively differentiated."

Table of Contents for the Digital Edition of Canadian Retailer - Spring 2016