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1 Minute Advice: Planning for Personalization

According to the renowned consulting firm McKinsey, personalization is a proven way to drive growth in marketing. "Personalization at scale," says McKinsey, "can drive between 5 and 15 percent revenue growth for companies in the retail, travel, entertainment, telecom, and financial services sectors."

But for personalization to be most effective, McKinsey believes it must be an integral part of the marketing operating model. An operating model with personalization at its core needs four elements, all working in concert:

1. Data foundation
2. Decision
3. Design
4. Distribution

How each of these elements interact is crucial, says McKinsey. In an informative article, McKinsey lays out the groundwork for how to develop a personalization operating model. Read it here: https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/no-customer-left-behind

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1 Minute Advice: For Brands, Social Media Best for New Products and Customer Service

As reported by Marketing Charts, a recent survey regarding the use of social media by brands suggests that consumers are okay with brands using social media, but like it best for showcasing new products and services. Another social media survey indicated a majority of consumers think customer service is the best use for social media by brands.

Interacting directly with consumers is an attribute of social media that offers a distinct advantage for brands. Research indicates that about 40 percent of consumers in nine countries say they are unlikely to have an emotional attachment to a brand unless they interact and communicate with it via social media.

Interestingly, consumers also believe brands have a responsibility to be sure the information they post on social media is credible and trustworthy. Over two-thirds of one survey's respondents feel that brands should "pressure social platforms" to do more about false information.

In addition, consumers want brands to be more transparent. "Transparency" was associated with such attributes as openness, clarity, and honesty. Only 15 percent of survey respondents thought brands are "very transparent" on social media.

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1 Minute Advice: Which brands top the YouGov Brand Index?

The YouGov Brand Index ranks 1630 brands based on the Index score, which is a measure of overall brand health calculated by taking the average of Impression, Quality, Value, Satisfaction, Recommend and Reputation. 

The Index Rankings chart shows the brands with the highest average Index scores between July 1, 2017 and June 30, 2018. The Index Improvers chart ranks the brands with the highest increase in Index, comparing scores from the previous 12-month period. Both scores are representative of the general population of adults 18+. All brands have been tracked for at least 6 months to be included in the rankings, and have been tracked for at least 6 months in the prior year’s period (as well as being currently tracked) to appear in the movers tables.

Here are the top ten brands overall:

1. Band-Aid
2. Amazon
3. Dawn
4. Hershey's
5. Google
6. Clorox
7. Netflix
8. M&Ms
9. Dove
10. Craftsman

Brands are also ranked within industry. As an example, here are the top index rankings in consumer electronics brands:

1. Samsung
2. Sony
3. LG
4. Bose
5. Apple

The top index improvers in the consumer electronics brands category are:

1. Samsung
2. Galaxy
3. Amazon Alexa
4. Ring (video doorbell)
5. Android

See rankings for other industries here: http://www.brandindex.com/ranking/us/2018-index

This post is brought to you by 123eGuides.com. 123 eGuides are a series of authoritative guides about branding, marketing and small business published exclusively in electronic format to provide maximum value at minimum cost.