If you look up google, this is the number one natural result for the word brand strategy (in the text of the result). 

An effective brand strategy will create a unique identity that will differentiate you from the competition.

So the idea is two steps

First step is to simply take the product you are looking to 'brand' and find the unique difference in your product in relation to the competition (something the competition isn’t advertising or even focusing on in their advertising 'maybe they offer it but don't mention it in the advertising).

Then find a creative way to express this such as a metaphoric story for a TV commercial or a great sound bite for a radio commercial. A good picture is perfect for a billboard or magazine but again it has to differentiate your product from the competitions (and not copy a competitor… imagine if allstate started offering price comparisons like progressive).

The best brand strategies do this without even mentioning or alluding to the competition - everyone knows that coke is classic, xerox is a copy, etc... A good concept of this is those mac and pc commercials though i personally don't like feeling alienated by mac for using a PC (they make pc users feel bad so that doesnt' do apple much good in my opinion – though some would argue that is part of apples marketing strategy which plays on feelings of rejection and being left out ‘save that for another assignment’).

A big part of this ‘branding’ process is finding some unique aspect that really is better than the competition. This aspect or core message must be ubiquitous throughout your whole campaign and keep your focus on this message so that the audience remembers what you do that is special.

A good example of this is lending tree. When banks compete, you win... remember this? Well do the banks really compete? Heck no, lending tree just sells the (lead/mortgage borrower) 4 times and then they hassle them for a mortgage forever - when all along you could have done the research yourself. This is an obvious benefit to consumers for banks to compete though as a consumer you could do this yourself without lending tree pre-determining what banks would be competing for your business.

Think of ways you can help the consumer and differentiate yourself without actually doing much of anything different than what you already do.

For instance, if your product is a toy, make sure you emphasize it’s lead testing or made in the usa with regulated suppliers. If you are selling a service, emphasize your customer service, attention to detail, etc… these are all classic branding positions that you can use to your advantage.

If you are at a loss for unique ideas, one of the best ways to brand is through a personality – ie priceline or your local car dealer. These are images we remember for our life and build trust and loyalty because they are consistent messages. Lesko was a great example of this too though many think he may be over the top (I met him and he is a nice guy!)

I am always asked by clients what makes a database 'compiled' or 'modeled' or 'response' or 'transactional'.  The big difference between these files is the sources used to create the data. 

One note about pricing is that data is usually priced primarily on how valuable it is to the end user and and this usually affects the price 70%+.  The other major cost on data is volume and how available the file is in the market. 

 Compiled data is usually the cheapest type of 'modeled' data which usually comes from multiple public sources such as directories, public census, deed, and credit data.  However, compiled data can also be quite expensive if it is pre-screened directly from the credit bureau.  True fico data also fits this category of expensive compiled data because only the credit bureaus control the source and thus determine the price.

Response data is exactly what it sounds like - though there are two types of response data;  Survey data and leads.  An example of response data could be people that filled out an application for debt consolidation.  Another type of response data could be a survey responders for an ailment questionnaire or someone that responded to a lifestyle questionnaire.  The great part about responder data is that it is directly from the actual user verses inferred.  This can be a bad thing though if the lead is incentives improperly.  Some responder feeds bring a responder through many incentives survey questions which can blur the truth because the responder is interested in the 'carrot on the stick' and not actually answering the survey questions.

Transactional data is based on actual transactions or attempted purchases.  A great database example are credit card turndowns.  This weekly file is based on actual turndown data which is gathered into weekly database that can be purchased by 3rd party companies.  Other examples of this data is ACH or Card on File data which must be purchased by using an escrow company.  Infomercial data is also another very sought after transactional file which comes from direct TV commercial advertising.  All 'buyer' lists are considered transactional. 

Recently there has been a debate on whether to target 60-90 day late pre-foreclosure mortgagors or NOD/NOT Data.  The bottom line with 90 day late mortgagor data is that it requires a firm offer of credit and thus blocks most of the available programs that would market to this group.  The great part of NOD data is that there is no compliance required for the NOD and you are able to communicate with true defaults instead of trying to project 60 and 90 days (since most states are waiting longer to actually file Notice of Default or notice of trustee sale documents).

Tips to consider when marketing to late mortgagors:

When marketing to late on payment homeowners or pre-foreclosure mortgagors it's important not to directly expose their situation.  Often a sideways approach such as 'we help families in unique financial situations' as opposed to 'we bring families back from the brink'. 

Always make sure to follow FRCA and other compliance guidelines when marketing to any pre-screened credit bureau data.

There are so many ways to develop direct marketing success.  One thing I've noticed is that many clients that I work with will re-mail to the same database many times.  The trick to finding out how much new data you need is pretty simple. 

The first step is of course tracking.  Make sure you can follow the success of a 'new list' verses and 'old list'.  Depending on how big of an expense your database is, re-mail until the cost of a new list is less than the expense of your cost per call.

In otherwords, if it costs you $75 to create a phone call on a new list and $95 the second time around and $105 the third time, purchase a new database on the 4th mailer if the cost of the new data backs out to less than $30 per call.  This is common sense but you can also let a database 'rest' and remail to it.  Often you will see patterns surrounding a year long cycle. 

Many direct marketers work on a yearly schedule and they will know when the best time to mail is.  Make sure if you are doing a mailing for the first time that you consult with several sources and manage your budget closely.  

One way to manage your budget is to set up an R&D direct marketing budget and work on small projects that will test a larger universe.  By testing in a small controlled environment you can see the results and their magnitude without staffing up or wasting money on an excellent idea or a half baked concepts.  I learned early on in this industry that it's better to get the bad ideas out early and really shape the good ones by testing. 

What an excellent experience to go to the DMA in Chicago.  I had a great time and what really made the experience memorable was how many list and data companies were there to show off their mailing lists and marketing methods.

There seemed to be a focus on Fortune 500 type clients of course and the big missing gap again was for SMB's as in most trade shows.  Luckily I did what I normally do and network to meet new and interesting people.

One thing that reafirmed my love for traveling to conferences was that I can meet people that will introduce me to other people that know different industries and of course in marketing you have to rely on experts when you are putting a big campaign together.

Anyone else have some great experiences at the DMA?

The big questions with mailing lists & telemarketing lists always come down to the three 'Hows':  
    
           How Accurate is the Mailing List?
           What is being Targeted on the Mailing List?
           How much is the Mailing List going to cost?

Accuracy in a marketing list is usually rated as to how many are contactable.  For mailing lists, this would be the return rate and for telemarketing lists, the disconnect rate. 

Targeting is also imperative because every offer has an audience.  Without targeting, the results for a campaign can be detrimental.  One client of mine had a product with mostly women ages 35-55 as clients.  We were able to, without adding any cost, target this audience and lift conversion by 4 times.  Many times the solution to your targeting problem is right under your nose, especially when it comes to Specialty Lists. 

We always have a mailing list or telemarketing list for virtually any direct mail or telemarketing campaign.  Many times we will have multiple ways to get the same targeted marketing list.  This leads me to the next question, how much is the mailing list going to cost….?

Costs are based on several factors:
 
        Source(s) of the Telemarketing List or Mailing List
         Market Demand
         Availability of Source
         Broker Profit

With over 100,000 mailing lists and telemarketing lists on the market being purchased, sold, and managed by over 4,000 data and marketing agencies, there are many sources and ways that data comes to businesses.  As a marketing director or business owner, your goal with anything is to get the best price & service.  The advantage to using a broker in many cases is that they can use their experience to help you find the best data so the mark-up is in many cases worth the price.  Also the ability to find targeted lists or determine if a campaign requires a  targeted marketing list is very important.

That is why factoring a broker into the mix is a good idea for anyone looking to use an experienced resource to help them succeed.  Many times a direct mail company will outsource the list themselves so it is always in your best interest to do the mailing list research yourself.

Also as a side-note… Always negotiate your list purchase and don’t be afraid to get a good deal with volume.  This isn’t always possible with all marketing leads though with data, more almost always means a lower price.