It’s time to explore the concept of Brand Momentum—how it works, why it matters, and how you can use it to keep your brand thriving. So here are some practical steps to build brand momentum that I hope will help.
As we gear up for the release of Brand Momentum just weeks away, here’s your action-packed guide to mastering this powerful force, which we hope will sufficiently pique your interest to pre-order this must-read new book ahead of publication on 26th September 2024!
Before we get into the practical steps of building brand momentum, for those new to the game, here is a brief definition of brand momentum and what it means. Brand momentum is the hidden energy that drives a brand’s performance and success over time. It combines two crucial elements:
- Brand Size (Mass): How big is your brand?
- Brand Velocity: Do people perceive your brand as growing, declining, or static and staying the same?
Together, these elements create a powerful force that propels your brand forward. Here are some practical steps to build brand momentum and harness this energy.
1. Use the Brand Velocity Score as Your North Star
“Unlike other metrics, the BVS has genuine predictive power.
It’s essential for marketers aiming for ongoing growth and longevity.”
- Why It Matters: The BVS is momentum theory’s most interesting and exciting aspect. It provides a straightforward, understandable measure of your brand’s growth trajectory. It’s more than just sales numbers; it’s about how your brand is viewed in the marketplace.
- Action Step: Use your Brand Velocity Score to inform strategic decisions and predict future brand performance. Most brand metrics change slowly, so don’t be hoodwinked into continuous or regular tracking—you only need to do it once a year to make sure you’re up to speed and have your finger on the pulse.
2. Understand the Balance Between Size and Speed
“So, to understand momentum, you need to track two things:
how big your ship is (brand mass) and whether people think it’s
gaining speed or slowing down (brand velocity).”
- Why It Matters: Bigger brands may naturally slow down, but that doesn’t mean losing momentum. Focus on maintaining a positive velocity score. Many boardrooms focus on short-term gains. Educate them on the value of sustained brand momentum for long-term success. Overcome external challenges with a strong momentum strategy – recognise the challenges posed by competition, societal trends, and economic and political pressures. A high BVS will make you more resilient to these challenges.
- Action Step: Through consumer market research, monitor both the size of your customer base and their perception of your brand’s growth. Present data and case studies from the Brand Momentum Book to illustrate the benefits of investing in long-term brand building. Advocate for strategies that prioritise sustained growth.
3. Leverage Momentum for Long-Term Growth
“Think less about being the biggest and more about being unstoppable!”
- Why It Matters: Short-term wins are important, but sustained momentum ensures long-term success and resilience in the market. Building momentum isn’t a one-time effort. It’s a continuous process that requires consistent actions aligned with your brand’s long-term vision. We can help you focus on the actions that will drive growth. Your marketing efforts should be geared towards building energy and momentum around your brand.
- Action Step: Invest in high-impact marketing campaigns that not only attract new customers but also reinforce brand loyalty and growth perception.
Next Steps…
If you would like to know more and take your brand to the next level, why not order the book and be one of the first to discover what momentum theory is all about? Officially, the book launches on 26th September 2024 and is available at Amazon, Waterstones and all good bookshops around the world. But you can order your copy here if you prefer to get it sooner! (PS Please don’t tell everyone as stocks will be in short supply until the launch!)
You can pre-order from my website this September.
Click HERE for more details
