The eFactorTM.
The eFactor at its core is a simple concept. It is the emotional bond combined with the brand equity (emotion and equity) of a given product or organization. Working in concert with a worldwide market research organization, we developed the eFactor, and when applied to public relations, marketing, and advertising, practitioners will find they have better and more effective plans, a better relationship with their clients, and ultimately begin an ascent to the top of the public relations food chain.
Now, before embarking on any program, and this is applicable to any proactive advertising initiative, it is assumed that a strategic plan exists. The overall tactics and strategy of that plan will have to be slightly reexamined to fit in with the eFactor model, but understanding how it flows will make your ideas and your programs better.
So, beginning from the top, decide what the desired outcome is. Provided you have benchmarked your starting point, establish your KPIs (key performance indicators). Only when you know what you are measuring and what change you are trying to affect can you even begin to implement a true advertising program.
Good KPIs would include sales, understanding/cognizance, new leads, or new product trials, for example. Once these have been established, professionals may then refer back to the desired outcome and begin planning accordingly. This is where the eFactor comes in. Make a list of the attributes of the organization based on the initial research and the desired attributes regardless of the ultimate outcome. This is the branding exercise.
Whatever the adjectives you wish your entity to be known for, list those. Whatever adjectives you are currently known for that do not fit the "wish list," you must plan and strategize accordingly to achieve the desired outcome. The eFactor is in play in all communications efforts because each, no matter how insignificant or magnificent each may appear, collectively play a role in the brand equity. From simple press release to a worldwide SMT, "how" you say what you say is a reflection of the eFactor.
For example, after having done your due diligence, you find that your brand is perceived to be slow and unresponsive. In a strategic effort to combat that, you have programmed accordingly: i.e., a NASCAR sponsorship, case studies touting speed and responsiveness, a business-to-business junket to showcase efficiencies, etc. Now, before you considered the above tactics, you took into account the eFactor of the brand — the brand equity. Does it make sense to sponsor a NASCAR team? Does the phrasing in the direct mail or promotion fit the brand? Does a business-to-business junket fulfill the overall equity built within a given entity, and so on? Once a clear understanding of what the brand "is," it becomes quite clear what tactics can be utilized to stay consistent in building the brand, while also fulfilling the desired outcome.
Which is exactly why so many spin-offs and promotions fail. Consumers, b2b or b2c, simply don't understand how the promotion or advertisement or initiative fits into a given entity. It may secure short-term success but actually sacrifice long-term gains. Failed programs not only cost millions of dollars, they cost clients — and jobs.
In concert with understanding the brand equity, is understanding the emotional bond with a given widget or entity. It is critical to outline exactly why a given target should find interest in the entity and want to affect change to the desired outcome. What five to 10 things do the targets benefit from by an exchange with a given product or organizations? Key here is to not confuse benefits with features. Focus on the benefits and how the given targets should relate to those benefits.
Once the benefits have been established, create an emotional bond model. If the benefit is that it "makes my life easier," showcase that in the programs that create that emotional bond to that specific benefit. It becomes part and parcel of the communications strategy. Programs and all communications thereafter should be developed accordingly. How does using a given product make the target "feel"? That is the key of developing a strong emotional bond, and every communication that flows from that entity should reinforce this bond.
Critical now to the eFactor is combining the two — emotion and equity. Consider: the brand Jewel, the singer. What is her emotional connection with her audience and what is the desired outcome? The outcome is relatively simple: airplay, album sales and sold-out concerts. So, how do you program, taking into account the eFactor to accomplish the desired outcome? The "controllers" behind the Jewel brand decided to reinvent their star with the "Intuition" single, which although creating an initial spike and sales, actually disillusioned the emotional connection.
The target audience did not accept the reinvention because it didn't fit in with the emotional bond or the equity of the brand — the eFactor. The brand that Jewel created previously was in stark contrast to the new invention. Entertainers are in a precarious state because the need to "reinvent" is a lurking messiah, but when the eFactor fails to be considered, you've simply set yourself up for another standard reinvention — the comeback. Don't do that to your brand, because it sacrifices long-term gains for short-term results.
Boss breathing down your neck to move forward on a given program? Client? Be armed with this information and be able to take a strategic stand based on proven methodologies to save everyone from their own peter principal. Contact a global-market research firm or agency that can provide eFactor insight if you don't feel comfortable attempting the above exercise, from promotions to concepts to even advertisements. It's a standard up-front investment in success, where ideas can actually be made better, and everyone benefits. The cost is typically nominal, compared to an overall campaign, and certainly peanuts compared to a failed one. Success is predictable — you just need the right tools.
In fact, send me your ideas, or your ads or promotions, and I'll select a few to provide an eFactor analysis for free and report the results.
About Mark Sneider
Mark Sneider holds Masters Degrees in Marketing and Economics from the Kellogg Graduate School of Business at Northwestern University. Sneider also holds a BS in Marketing from Miami of Ohio. Sneider started his career serving clients at DDB Needham in Chicago prior to attending Kellogg. Prior to joining AcuPOLL in 1999, Sneider worked in Marketing for S.C. Johnson, Andrew Jergens, and O-Cedar Brands. Sneider's AcuPOLL experience includes work in the food, financial and insurance services, pharmaceutical, durable goods, and personal care categories.
