Brands undoubtedly experience ebbs and flows influenced by a variety of factors, many outside of the control of anyone. And right now, more than any other time in recent memory, many businesses are experiencing unexpected changes. So how does a brand adapt? While branding doesn’t have a singular strategy, and there is no set formula for new challenges - it’s important for brands and marketers to continually adapt and understand their audience.
On this episode of the Maverick of Marketing radio show host Shannon Maverick, talks with Michael Lynam, Director of Marketing for McGrath RentCorp. Lynam oversees marketing not just for McGrath, but also it’s five subsidiaries.
So how do you market and grow not just a parent brand, but five more within it? First it’s vital to understand what each brands value proposition is, and then understand who the customers are and who the audience is.
It’s important as marketers to remember, that audiences go beyond clients – to employees and prospective employees. A brand exists not just outwardly to clients, but also inwardly, to those working for an organization.
Lynam refers to a book by the Founder of Walmart, Sam Walton: Made In America. “Ignoring the conventional wisdom, if everybody else is going one way, there is a good chance you can find a niche and go in exactly the opposite direction. As marketer’s that is something we all need to continue to keep in the back of our minds. If we’re doing it like everybody else there’s no ability to actually stand out and differentiate yourself,” says Lynam.
In commoditized markets, it’s important for marketers to differentiate their brand and truly bring the customer experience to life. “What can you bring to the table to solve customer’s issues,” says Lynam.
Listen to the full episode of the Maverick of Marketing to learn more.