Branding in Oil and Gas | 4 Reasons to Organize Your Brand Architecture When You Have Multiple Brands
Positioning your Oil and Gas brand in the marketplace is not always an easy task, especially when multiple brands reside with one parent company. Time needs to be spent looking at each brand, determining where it fits in the marketplace, who it’s target audience is, and how it relates to the parent company. Furthermore, care needs to be taken to not confuse your core customer base with your multiple branding strategies.
Designing a brand architecture isn’t an easy task and many business owners and senior management teams don’t have time to look at the strategic side of the brand hierarchy, and how it can hinder or help their organization. Many organizations don’t look at the relationship between their brands and products until they have a full portfolio. Each brand was created in its own funnel, and the vague relationship between the products or services and the unique brands creates confusion that stops a customer from buying their products.
Fortunately, creating a strong brand architecture can happen at any stage in the game. The structure between parent companies and individual brands doesn’t have to be complex. There are several ways to create simple structures that result in customer loyalty.
Limit Customer Confusion
Customers like to buy products and services they are familiar with, tried and tested by them or their peers. When people find similar products and are confused about one or more of them, they often default to a price based buying decision. If your product is aligned with your brand(s), and your logos and company are understood and known, the decision becomes more emotional – allowing the customer to buy products they trust – your product.
By looking at website analytics and behavior maps, you can see what your customers are doing on your website. You can see which products they visit, and which buttons they click. If you see a repeat pattern of customers spending time on your site, jumping between brands and products without making a purchase, the customer may be confused. It’s time to remedy that.
Brand Disorganization Makes Future Planning Difficult
In the business world, time is money. Each of your brands will require budget and resource planning and if you don’t have a solid brand architecture in place, you may not know where to start. Each brand will require marketing collateral of a different type, but where do you begin? Which brand is most important? And where will the money and time be allocated first? If you spend weeks trying to figure this out, your brands may be out of alignment with your company goals. It’s time to regain clarity on what your different brands stand for, and how they relate to the other brands within your parent organization. A brand audit can help you get back on track.
Overshadowing of Your Primary Brand
There are times when a sub-product will achieve popularity that is greater than intended, resulting in your primary brand(s) losing money and appeal. By pairing the primary brand with a strong marketing portfolio and the right architecture, the primary brand and the sub-brand can both thrive, without undermining either brand.
Upselling and Cross-Selling Becomes Easier
A clear brand architecture is key in helping your sales team sell your product. Most sales teams do not know the details of every product and without a clear understanding of the product portfolios, they can struggle with which products complement each other. Customers may get offered products that aren’t right for them, undermining their faith in the sales rep, the main product, and the brand itself. By giving the sales team a solid brand architecture, you make them and your brands shine with your customers.
Repositioning your brands within the marketplace can take time and work, but the benefits of doing so can be monumental in moving your company into the future. The time and money spent on your brand architecture can increase your sales, highlight your individual brands, and increase customer faith and loyalty.