Show me the money?

Posted on September 2, 2015 by brandaudits

Brand + Business x Christine Moody*

Over the last few days I have been reading blogs etc featuring entrepreneur’s advice on the theme: “Don’t chase the money; let the money come to you”. Another such article appeared in a ForbesWoman article this morning. In Amy Guttman’s interview with Julie Meyer, Chairman & CEO, Ariadne Capital—named by the Wall Street Journal one of Europe’s 30 most influential women—Meyer outlines why she has made those words her mantra. “It’s the advice she frequently advises startups seeking funding from Ariadne Capital’s Entrepreneurs Fund, which Meyer founded in 2000″.

Don’t chase the money; let the money come to you.

But how does this work in practical terms; when food, clothing, and shelter is a necessity (not to mention the other stuff we need)? Meyers says: “…do what you are passionate about and the money will come. Capital follows ideas. When I went to Paris at 21 years old, I was obsessed with finding a job and making money. A friend told me, ‘STOP TALKING ABOUT MONEY! If you’re good, the money will find you.’ At the time, I thought it was a stupid thing. But the past 25 years of my life demonstrates that the less I chase the money the more it finds me. Read full article here.

What do you think? Have you had this experience?

*Christine Moody is one of Australia’s leading brand strategists and the founder brand management consultancy, Brand Audits. With more than 30 years’ professional experience, Christine has helped a diverse client base of local and international brands, including Gold Coast City Council, Hilton Hotels, and Wrigleys USA, to develop, protect and achieve brand differentiation.

For more information: chris.moody@brandaudits.com.au or +61 419 888 468.

High Tech + High Touch

Posted on August 31, 2015 by brandaudits

BRAND + BUSINESS x Christine Moody*

Many years ago, in the ‘old days’, retailers were the masters of customer engagement—they had to be. Long before online stores, their sales relied on their product offering and their customer service levels. According to Linda Palanza, Chief Operating Officer, OneView Commerce in her The Future of Commerce article: “They built their success on understanding and meeting customer needs in the store, by mail, and by phone. They manually tracked customer preferences and had longstanding relationships with store associates”.

Then e-commerce disrupted this and now customers can buy, comment (good + bad), and demand things from your brand—even when your physical store is shut. Retail is now 24/7 and so is your brand. So there has been a shift and concentration on the digital space at the expense of the high-touch focus. Some believe that putting all information online and giving customers can access to the information will result in happy customers. This is not the case—they want high tech + high touch. In some cases—especially when it is a low-cost item—customers do not need to call and order online. But for higher ticket items—such as luxury goods—customers will research online and then go in store to talk to an assistant and ‘touch’ the product.

The most important thing is that both the online and offline experience is consistent. The customer needs a seamless experience across all channels not only online—for example, physical stores and social media et al. In fact some online brands—for example Zappos—encourages customers to call for assistance and ensures their telephone number is displayed at the top of the screen (unlike some retailers who hide it right down the bottom where you have to use the sitemap to find!). If you read the book by Zappo’s founder Tony Hsieh, Delivery Happiness: A Path to Profits, Passion, and Purpose, you will find that the staff love it when their customers call. They know that this personal connection will develop a relationship that online alone cannot. Zappos ensures every touch point—from the customer’s call to the delivery of their order is consistent and a great customer experience.

People still want to talk to people and do business with people—thus the rise of farmers’ markets. There has also been a recent trend of online stores moving into bricks-and-mortar stores for example, Warby Parker. Warby Parker started online but realised their customers still wanted to come in and try their glasses on, and talk to ‘real people’. Some brands start small and trade at farmers’ markets such as Justin’s homemade organic nut butters. This brand commenced trading at farmers’ markets in Boulder, Colorado in 2014 and is now stocked at 15,000 stores including Whole Foods, Target, and Starbucks. As reported in the Inc.; “That represented three-year growth of 614 percent, enough to place Justin’s at No. 594 on the 2012 Inc.5000. “We’re a 10-year overnight success,” says Gold, who is now eyeing convenience and drug stores”. But as Justin’s has come to understand, no matter how successful a brand becomes, all brands need to retain a personal connection with their customers—like they did in the ‘old days’.

Physical stores—like the farmers’ markets—give the retailers an opportunity to observe customer behaviour and to market test and validate new product offerings. Some larger retailers dedicate floor space to new ideas to test new products prior to ordering. Like the range from The Goodnight Society who have created a ‘pop up’ within a Westfield store. It creates a new shopping experience for customers and allows the department stores to test the concept before they commit. It also allows the brands to receive customers’ direct feedback and reaction to their products—something that online cannot do. According to Vladimir Gentleman, in his Forbes article, Keeping your clients close: How to stay grounded as your grow: The more your company grows, the more effort it will require to keep your hand on the pulse of your customers. Just remember to give yourself a reality check every now and then and stay tuned with the valued customers who have helped you ascend to success”.

What is most important point here is that your brand needs a strategy that includes both ‘high touch’ and high tech’. And what remains unchanged over the years is you must never lose sight of the most important ingredient in your success—your customer!

For more information: chris.moody@brandaudits.com.au or +61 419 888 468.

Ladies—time to self promote!

Posted on August 30, 2015 by brandaudits

Brand Audits Update x Christine Moody*

There have been numerous articles over the years in business magazines—for example Harvard Business Review and Forbes—on why women need to understand the importance of self-promotion to reaching their leadership potential.

As author Levo League explains in the Forbes article ‘Why is self promotion so hard for Women?‘: “…Self-promotion can be daunting, annoying, and even terrifying. As much as you’d like to flaunt your educational and career background– in person, or even on LinkedIn–you may have a much stronger desire to avoid being seen as precocious, egocentric, or self-absorbed.”

Nonprofit organisation Catalyst released a report this and with findings on self-promotion: “When women were most proactive in making their achievements visible they advanced further…were more satisfied with their careers, and had greater compensation growth than women who were less focused on calling attention to their successes,” reads the report. In other words, the greatest way to even the playing field for women and men, in terms of earnings, is self-promotion. So what’s not to like about self promoting?

…the greatest way to even the playing field for women and men, in terms of earnings, is self-promotion.

So how do we make ourselves visible and create the right ‘tools’. To work out what tools you need, you must understand your ‘brand’ and how this can be integrated into your organisation’s brand. Like it or not, social media has created transparency in our personal profiles and everyone is now “on show”. And this public face of your personal brand needs to be seamless and consistent. As corporate brands have ‘brand platforms’ and ‘brand assets’, so too does your personal brand. The brand platform is your vision, mission, and values statement and your assets are how you leverage your unique professional experience and qualifications. The next stage is to create a set of brand tools—linkedin, facebook and other social media; photography, business cards, personal stationery, and corporate wardrobe etc—to tell your unique story.

Starting with an audit your personal brand the brand tools selected will ensure that your brand tools reflects your ‘voice’, your point of difference, and your unique story. In other words, ‘looks and feels’ like you! They all come together to help you self promote in a consistent way so what you say and do, aligns with your personal brand. Self-promotion is crucial part of reaching your potential so ladies, it is time to stand up, stand out, and self promote!

How to stand out from the other ‘packs’ on the shelf

Posted on August 27, 2015 by brandaudits

Brand Audits Update x Christine Moody*

I hate shopping but love looking at what’s new on the shelf. While I don’t shop all the time (that is left to the cook in the house—my husband!), I do enjoy pushing the trolley and seeing what is new on the shelf. I always leave with some new inspiration seeing the new brands or recently revamped brands. I also use this as inspiration for my work in the personal brands arena.

Think of yourself as a pack of tea on the shelf, you are a really nice tea and your family and friends love you but you are not getting the sales. The sales figures show that the well-known brands like Twinings are still outselling the other brands. So you sit on the shelf until the sales are so low, and you worried that you will no longer stocked.

But just before this happens, you undergo a packaging revamp and an entire redesign takes place. The product itself does not change but the outside (the packaging) does. The packaging now reflects your tea’s history and origins, its uniqueness, its taste, its personality, and its authenticity. It is now able to stand out and get the recognition (and the sales) it deserves! But even more importantly, it reflects the outside now reflects the inside of the pack.

There is no difference between the humble tea brand and your personal brand.

There is no difference between the humble tea brand and your personal brand. When I am conducting personal brand audits, a common theme is the fact that the ‘product’ (the inside contents) is fantastic but the ‘packaging’ (the outside and what everyone sees—the design of the dress, the resume, the website etc) does not reflect the true personal brand. It is not seen as important to some—”it is what I have achieved in my career that will enable me to stand out”—I hear regularly. But like it or not, it does matter and it does matter to your ‘personal sales’—your first job, next career move, your appointment to the board!

Are you going to wait until you are no longer stocked or is it time to revisit your packaging?

For more information: chris.moody@brandaudits.com.au or +61 419 888 468.

Getting goosebumps!

Posted on August 26, 2015 by brandaudits

Brand Audits Update x Christine Moody*

When I hear an amazing leader present, I get goosebumps. And last night was one of those nights. I attended State Library of Queensland’s In Conversation with Maha Sinnathamby, the Founder and Chair, Springfield Land Corporation. Greater Springfield is the fastest emerging city in Australia. The interview-style presentation allowed the audience to hear and see an authentic leader. And what an authentic leader he is!

Maha told us about where he started and his journey to where he is today, but he also gave us insight into his vision and values. He believes in never giving up and always pushing through. He believes in always being positive with the attitude that no matter what is happening “tomorrow is another day”.

He also does not put up with negative people—he either changes the subject or avoids those people (something we can all do!). Maha had the audience laughing because Maha laughs at himself firstly and then life secondly. He has fun in everything he does—even when facing challenges and obstacles. Two decades ago, before Springfield, he was an unemployed, pennicliess migrant who had one thing that no one could take away—his incredible intelligence from his education that his father insisted he get and an absolute belief in himself. This enabled him to become an internationally recognised, award-winning property developer listed as Australia’s 49th wealthiest person. His book Stop Not Till The Goal Is Reached by Karen McCreadie should be a must read by business people, students, and anyone who needs inspiration!

Thanks Maha for a great evening.

For more information: chris.moody@brandaudits.com.au or +61 419 888 468.

‘Being innovative’ is just an attitude

Posted on August 24, 2015 by brandaudits

Brand Audits’ Update x Christine Moody*

‘Being innovative’ has become a buzzword and is seen as something we need consider for our organisations to survive and thrive in the future. In publications such as Harvard Business Review, Inc., and Entrepreneur, there are hundreds of articles on innovation and how organisations are using their innovative ideas to change the way we do things—think Uber, AirBnb, and Square. But where do we start?

Are there things that are happening in other industries that you can adapt and innovate in your industry?

Firstly we need to reframe what innovation is. According to Jeff Degraff in his Inc. article, “What is Innovation?”. It is not about inventing something completely new. In the article, Degraff refers to the late Marshall McLuhan, University of Toronto professor and ‘cultural guru’ who outlines an innovation as:

Enhances something: Think about how Google was a late entrant into the search biz but lapped the field with its simple approach

Eliminates something: Think about how Charles Schwab eliminated the need for stock brokers by connecting the back office of the trading house directly to the customer

Returns Us to Something in Our Past: Think about how the desire to have home cooked family meals has lead to the proliferation of underground dining and slow food restaurants

Over Time Reverses into Its Opposite: Think about how e-mail was going to set us all free but instead enslaved us with its ubiquitous and overwhelming demands.

So with this definition it is easier to consider what innovation is and how to rethink it in your organisation. For example, ‘being innovative’ starts from seeing a problem and setting out to solve it. Which is the case for so many of the innovative business ideas. It also means getting around with your eyes open—whether by car, plane, or automobile—rather then looking at your iPhone screen. Instead look out the window, sit in a coffee shop, or walk around the block but keep your eyes (and ears) out for what is happening. Are you noticing anything different in food, fashion, or retail in general? Are there things that are happening in other industries that you can adapt and innovate in your industry?

Some of my best ideas have come from sitting and drawing people in parks or in coffee shops because the very act of drawing means you have to hone your observation skills. You can also store these ideas (in your head, on paper, or your iPhone) as you never know when an opportunity arises that you can call on these observations and ideas (as per the photograph I took in Tribeca NYC). By being open minded and open to new ideas, innovation becomes an attitude towards how we see things in our world.

So if innovation is an attitude…so do you need to thinking about changing yours?

For more information: chris.moody@brandaudits.com.au or +61 419 888 468.

Key brand differentiator by 2020? The Customer Experience!

Posted on August 23, 2015 by brandaudits

Brand Audits’ Update x Christine Moody*

One of the key elements of the brand audit process is to understand and map out the customer journey and every ‘touch point’ the customer has with the organisation. And I mean EVERY TOUCH POINT—from the greeting at reception to the invoice layout. It is also important to understand the organisation’s language and policies that affect the customers ie, the tone and attitude of the accounts staff collecting overdue monies should have the same attention as training of the sales team. I have conducted many brand audits over the years during audits, and there is one thing that is common in all to all of them. Most organisations think it is all about the product or service they are offering. But what I know is that while the customers are really happy with the actual product or service, it is holistic view of the customer—from initial contact with the organisation to the after sales service. Sometimes it can be just too difficult and complicated for the customers.

But it is becoming more important to leave customer service to a few key people in your organisation. In a Customers 2020 report it was predicted that by 2020, customer experience will overtake price and product as the key brand differentiator so let’s not wait til 2020. To show organisations what good customer services look like show them examples of brands outside their industry for example the travel or retail industries. These benchmark brands are selected because they ensure that every detail aligns with their brand strategy and they visualise this through every single touch point ie, Ritz-Carlton.

In a Customers 2020 report it was predicted that by 2020, customer experience will overtake price and product as the key brand differentiator so let’s not wait til 2020.

The Ritz-Carlton is so famous for it is teaching other industry sectors outside of hospitality and travel ie, finance. Launched in 2000, The Ritz-Carlton Leadership Center offers various educational programs at select properties around the country for executive training in leadership, customer service, employee engagement, and company culture.

Hospitality—The Ritz-Carlton

Ritz-Carlton has become a leading brand in luxury lodging by rigorously adhering to its own standards. It is the only service company in America that has won the Malcolm Baldridge National Quality Award twice, and Training Magazine has called it the best company in the nation for employee training. Its unique culture starts with a motto: “We are ladies and gentlemen serving ladies and gentlemen.” One of its remarkable policies is to permit every employee to spend up to $2,000 making any single guest satisfied. Ritz-Carlton codifies its expectations regarding service in “The 12 Service Values,” “The Credo,” “The Three Steps of Service,” “The 6th Diamond” and other proprietary statements that are taught to all 38,000 employees throughout 73 properties in 24 countries. Simon Cooper, who has led Ritz-Carlton for the past eight years, talks about what makes Ritz-Carlton, well, the Ritz.

So let’s not wait until 2020 to develop standards for customer service to create an amazing customer experience in our organisations!

For more information: chris.moody@brandaudits.com.au or +61 419 888 468.

Why your professional services brand needs to think and act like a retailer

Posted on August 20, 2015 by brandaudits

Brand Audits Update x Chris Moody*

As the impact of social media and online shopping increases, even non-retail brands (think professional services—accountants, lawyers, and architects etc) need to think like a retailer. Like a retailer with a shop window (bricks-and-mortar or online store), the professional services firm has to think about their ‘window’. Their ‘window’ is their office environment (location and fit out) as well as their website and other digital communication.

And like a retailer, they must plot the ‘customer journey’ to understand the entire journey your customer has with your brand and what their experience is—from the very first telephone call or email to the invoice being sent. As with a retailer, every single ‘touch point’ matters. And like a retailer, branding is about creating an authentic brand that aligns with, and represents, your organisation’s strategy and vision.

Observing and learning from successful retail brands is a great starting point

Apple is an example of a great brand. Apple—the corporate brand—designs every detail or ‘touch point’ that comes in contact with the customer eg, Apple has beautifully designed, customer-centric products presented in purpose-designed packaging and contained in an innovative carry bag. The Apple website is easy to navigate and both the layout and the language align with the Apple ethos of simplicity and creativity.

Apple designs every detail or ‘touch point’ that involves the customer and their experience with the brand.

Professional services branding has become even more important with the explosion of social media. These days, everyone has access to your brand—whether online or through your staff—and every organisation needs to be in control of the management of their brand. It is important to ensure your organisation’s brand message is consistent across each and every ‘touch point’. Key to creating a differentiated and consistent brand is about delivering the entire brand package so you can carve out a niche and stand out from the crowd in an ever-increasing and competitive professional services arena.

For more information: chris.moody@brandaudits.com.au or +61 419 888 468.

Open House—An innovative concept from Target

Posted on August 19, 2015 by brandaudits

Brand Audits Update x Christine Moody*

Retail continues to lead the way in innovative, customer-centric brand experiences. The most innovative brands get their teams out and about to explore how customers shop and observe them as they purchase products and services.

Target has gone one step further and create an entire experimental store called Open House. This San Francisco-based store is set up not only to observe customer behaviour and product mix, but also to test digital devices and product technology. It also gives Target a opportunity to get direct—and real time—consumer feedback on the products and experience.

It has built an entire home that rivals the demos that many of these smart home companies roll out for large trade shows such as CES and conveys a similar depth of information that Amazon can provide about products.

Read the entire Fortune article here.

Does your personal brand need a reboot?

Posted on August 18, 2015 by brandaudits

Brand Audits Update x Christine Moody*

Christine Moody_NYC 2015_Sarabeth's brunch

I recently returned from a four-week trip to New York. The reason for the trip was to ‘reflect, regroup, and reboot’ my personal brand. Without going into detail, I have had a ‘stressful’ few years and also recently completed my Masters (Research). So I set off to New York (via Shanghai) to find out “What’s Next for Brand Christine Moody?”.

Normally before I leave, I have locked in dates and times for back-to-back meetings, brunches, and dinners and cram as much in as I can into every hour. It’s NYC right…that’s how you do it? This time I did things differently. I simply made contact with everyone before I left and after a few days after arrival I made contact.

I wanted time to just to start each day with a blank schedule and make it up as the day goes on.

Not only did I want time to ‘reflect and regroup’, I also wanted time to just to start each day with a blank schedule and make it up as the day goes on. This allowed me to take up opportunities as they came along—something a full schedule does not allow. The result of this approach were numerous—from meeting author Dorie Clark (Reinventing You and Stand Out) to having time to rediscover my love of drawing.

I have returned to Brisbane, purchased a new Moleskine notebook, and opened on a blank page to build on my personal brand story. Brand Christine Moody is a work in progress—and always will be—but a brand that has gained so much from its ‘reflect, regroup, and reboot’ time in New York.