The term rebrand is a terrifying word in marketing circles. Maybe that’s because we know it is probably the most challenging initiative we’ll put our hands on as marketers. And worse, there is no guarantee it will work the way we think. It’s like having multiple doors to walk through for rebrand options only you don’t know which one leads to success or failure. Yikes, knowing that, why would anyone want to do such a thing?
In our two-part series, we are unpacking the definition of what translation in marketing really means, and the value of doing it well. In Part 1 we reviewed the tactical aspects of being a marketer and how translation factors in your day-to-day workflow. Here in Part 2 we will delve into four new areas equally as important, yet different in function and impact. Let’s get started.
Have you ever wondered about the volume of change you have to endure because you’re in a marketing career? I mean, really… it’s akin to a fire hose attached to your mouth and you just can’t keep up. But wait, that’s not the tricky part. Because technology, consumer behavior, media, analytics and digital options shift frequently, that means as a marketing leader you must shift with them and understand how to translate the change-environment that is occurring and how it impacts your business.
So you’ve got a digital agency that’s headed in the right direction serving emerging industries and brands, but you realize your business needs more than just top-level young talent and award-winning client outcomes — What do you do?
Marketing leaders always look at their budgets it comes with the territory. Usually, the result of where your budget ends up by years-end is; you are over-budget, on-target or under-budget. However, crazy as it sounds, ending up in any of these three could also mean there were poor marketing decisions along the way. Determining your marketing spend is not as cut and dry as bean-counters think.