Brandbuilder99

Brand Building. One word at a time.

The 40-year evolution of a brand to reach the pinnacle in its industry.

by

Steve Jobs once said, “Innovation distinguishes between a follower and a leader. “

In the death audit and participant locate market, PBI Research is the clear leader and constant innovation has been the catalyst. But it didn’t happen overnight. It started 40 years ago when the company began helping pension funds find unreported pension decedents and locate missing plan participants and beneficiaries. This unrelenting focus to provide accurate data on a consistent basis propelled the company upward.

However, the defining moment that would dramatically change the company’s trajectory came later. In 2011, the Social Security Administration’s Death Master File (DMF), started limiting the number of reported deaths due to concerns about the rise of identity fraud. It turned out to be a sea change for the industry as the DMF went from reporting 95% of deaths prior to 2011 to just 23% in recent years.

So, after 2011, pension plans and insurance companies could no longer rely on the DMF to find most of their decedents, which meant they had to do the work themselves – spending countless hours combing through disparate obituary data and various media sources from around the country. Or they could turn to companies like PBI for help. But even with the assistance of outside experts, the best they could hope for was to find 70% of deaths.

PBI was determined to do better. The company made the decision to invest millions of dollars into data technology and assembled the largest team of data experts in the industry to bring customers a better outcome. It took years, but the result was the introduction of CertiDeath® in 2019 – a game changer.

Using AI, over 26,000 obituary databases and their team of specialists, CertiDeath was able to identify 95% of deaths with 99.9% accuracy. Since its introduction, CertiDeath has helped clients eliminate over $200 million in overpayments and release billions in related reserves.

Building on its CertiDeath success, PBI continued to innovate. In 2022, PBI introduced CertiCensus®, the first and only complete population management solution available on the market. For plan administrators, record keepers, and insurance companies,  CertiCensus manages participant communications and finds missing decedents, participants, policyholders and beneficiaries.

As a true end-to-end solution, CertiCensus can significantly reduce plan management costs, eliminate overpayments, align with regulatory compliance, and mitigate cybersecurity risk. But perhaps most importantly it ensures a better participant and policyholder experience, locates beneficiaries with the benefits they deserve and helps ensure the longevity of the fund.

This year PBI is introducing CertiSearch®, the soon-to-be premier participant locate service on the market. Like our other offerings, it leverages our state-of-the-art data systems and team of experts to find more missing participants and beneficiaries than any other service.

You’ll also notice our new look. We’ve refreshed our logo, colors and design which reflects our never-ending commitment to reach higher in everything we do.

It’s true, innovation drives our growth, but customer service sustains it. Our customers can always rely on our dedicated sales and account teams to make sure they get what they need every day – satisfaction reflected by a 98% product renewal rate. At the end of the day, PBI customers can rest assured they’re doing what’s best for their plan, participants, beneficiaries and policyholders.

Make Sure Your Battery Backup Has Your Back

by Leave a Comment

UPS Battery Maintenance Tips

You are ready for a power outage. You have the right UPS (Uninterrupted Power Supply) system to provide a bridge of backup power for your equipment if the power goes out. The UPS system will guard against surges, keep you running during shorter outages, or allow for graceful shutdowns during longer ones.

So, nothing to worry about, right?

Yes, if your backup battery is young, healthy, and fully charged. While a UPS system acts as an insurance policy for your equipment, ensuring the battery is well maintained is critical to making sure your UPS system is ready when a power outage occurs. Of all the causes of UPS failures, half are due to battery failure.

What impacts battery life?

Time
Time is the most clear-cut guideline in determining if you should replace your battery. Most UPS batteries have an expected life of 3-5 years, but other factors can also shorten the life of the battery, such as temperature, humidity, and frequency of power events.

Temperature
Make sure your UPS unit is in a cool and dry location. If the batteries operate in an environment that is too hot or too cold, it can reduce their ability to store energy. Generally, for every 15°F average temperature above 77°F, the life of the battery is reduced by 50 percent. Leave at least 2 inches of space on each side of your UPS unit for proper airflow. The temperature recommendation from the manufacturer should be strictly followed.

Humidity
Heat and humidity often go hand in hand. Too much moisture can also affect battery life. In more controlled environments with consistent power, you can probably plan for closer to 5 years of battery life. Most UPS manufacturers will specify the maximum relative humidity of an environment safe for the UPS. Avoid installing a UPS near open windows or areas with high levels of moisture.

Frequency of Power Events
Power quality issues, such as voltage fluctuations, harmonic distortions, noise and power outages can cause the UPS to shut down and activate the backup battery. After a UPS operates on battery power during a power failure, the battery recharges for future use, an event known as the discharge cycle. Each discharge and subsequent recharge slightly reduces the capacity of the battery.

Always be Prepared

Periodic power evaluations can help determine if your battery is still able to switch to battery mode when a power event occurs, but the age and condition of the battery will affect how long the battery will last.

Review your power environment. For example, if you live in Florida and have a UPS exposed to higher heat, humidity, and power fluctuations due to active storm seasons, you probably should err on the safe side and replace your battery every three years. In more controlled environments with consistent power, you can probably wait five years for replacement.

Other battery tips

Register your UPS systems and keep purchase records. That way if your battery dies before the warranty expires, you can get a replacement battery from the UPS manufacturer. A certified replacement battery from the manufacturer will give you peace-of-mind that the battery is fully compatible with your UPS system and include a warranty.

If you have an existing UPS that has already had a battery change (meaning the UPS is getting on to 7-8+ years old) you may want to consider purchasing a new UPS system instead. A new UPS will have better efficiency, resulting in lower costs in the long run, plus peak surge protection, as well as enhanced features.

When a new battery is needed, CyberPower has your back with the right replacement battery.

Pet Food Market Growing by Leaps & Bounds

by Leave a Comment

The global pet food market is projected to reach nearly $99 billion by 2022, according to a new report by Grand View Research, Inc. Demand for dog food products is predicted to grow 2.7% annually in volume over the next four years. Sales of wet/canned products is projected to expand at a CAGR of 4.9% over the same period.

What’s fueling the growth?

A fitter Fido is one reason. As consumers become more interested in health and wellness, they want the same for their pets. That is, pets are no longer just pets. As a result, there is a rising demand for higher quality and nutritious, healthy, and organic pet food.

My BFF. The rise in pet adoption is expected to continue to be a major factor driving growth. Increases in one-person households have led to more people seeking pets for companionship. Plus, increasing life expectancy (for humans) has led to greater numbers of aging adults adopting pets for the same reason.

PET FOOD TRENDS

Online sales jumping – Like many products, pet food is seeing rapid acceleration of online sales, particularly on specialty sites like Chewy.com.

Natural selection – Higher priced natural and organic products are becoming mainstream. In 2017, premium dog and cat food purchases made up more of total sales than economy and mid-priced segment sales combined.

Feed your breed – Pet food makers are creating specialized menu options and developing meals to meet needs based on breed, size/weight, age, activity level and more.

Itching for more – Pet owners are looking for food solutions that address their pet’s allergies and intolerances. Nutrition specialists at tails.com reported a 75% increase in the demand for hypoallergenic food blends for dog food since 2016.

Stress rehearsal – According to business solutions agency Gale, 44% of Millennials see their pets as ‘practice’ before they have children.

Unleashed innovations – Pet food manufacturers have come up with a range of pet foods paralleling human food such Sheba Classic Soup range, Natural Instinct Fish Fingers, Whiskas Casserole and even Bowser Beer. (But you’ll still be drinking alone. This pooch hooch is non-alcoholic.)

Leading the pack? – Petco announced it will not sell dog or cat food containing artificial colors, flavors and preservatives after May of next year.

Food Giants Thinking Small – The Rise of Stealth Brands

by Leave a Comment

It’s quite possible your favorite new food item you thought was made by a small, independent startup actually comes from a very large CPG company. It’s easy to get fooled, as the label may not make any mention of the parent company. Plus, the brand name, the packaging design and brand story would lead you to believe it really comes from a small batch, artisan firm. But is it?

Just-Food’s columnist Victor Martino has coined a term for these new types of brands:  stealth small brands.

Unlike corporate acquisitions (think General Mills purchase of Annie’s Homegrown) stealth small brands by definition, are created and developed internally by large corporations, but marketed as if they come from a much smaller firm.

Some examples:

  • Maker™ Overnight Oats (breakfast entree) – owned by PepsiCo’s Quaker Oats
  • Wildscape (frozen entrees) – owned by Nestlé
  • Véa World Recipes World Crisps (snacks) – owned by Mondelez International
  • Autumn’s Gold (granola products) – owned by General Mills
  • Joybol (smoothie bowls) – owned by Kellogg

Why is this happening?

According to IRI’s most recent New Product Pacesetters Report, more than a quarter of the top-performing food brands launched in the U.S. last year, came from smaller food manufacturers.

Who’s driving this?

Likely Millennials. They are driving the growth in healthier and more natural food products and are behind the jump in produce category sales in grocery stores in recent years. Millennials (ages 22 to 36) are now the largest segment of the workforce and smart companies are responding to their tastes and preferences.

Why not just acquire a small food company?

Acquisitions are still happening, but premium prices are being paid as you’re usually competing with other food giants with deep pockets. Angie’s, maker of BOOMCHICKAPOP kettle corn was purchased by ConAgra a year ago for $250 million. The snack company’s annual sales were less than $100 million.

 A grain of truth

The websites of these stealth brands do an excellent job of portraying the image of a small, folksy startup with messaging from the “owners”. E.g. “Jess & Barry” explain “The Maker Way” on the Maker Overnight (Quaker) Oats website and sign off with “Gotta dash”.

Web content on stealth food brand sites includes the healthy language you’d expect like natural, organic, gluten free, no GMO, etc. Some are even “Paleo Certified” – which means the product is grain-free, legume-free, dairy-free and additive-free. Paleo Certified, however, won’t indicate whether it is a stealth brand as is the case with Autumn’s Gold.

Plus, you’re not likely to find the parent company’s name on the stealth brands’ website or even a mention of the stealth brand on the parent company’s website. But these are healthy products and the ingredient labeling is accurate. So consumers are getting what they want.

The question is will customers care when find out their favorite new mom & pop food snack is actually made by a global food giant?

Stay tuned.

The Most Common (but easily preventable) Mistake in Email Marketing Campaigns

by Leave a Comment

The most common mistake? Ignoring the 40-40-20 Rule.

Over many years, marketers have studied direct response results and have discovered a breakdown of what generally makes an e-campaign or any direct response campaign successful. The results are as follows:

40% is the quality of the LIST

40% is the quality of the OFFER

20% is the quality of the CREATIVE

Of course, every campaign is unique and there are variations of the rule, but 40-40-20 is easy to remember and serves the purpose.

Most marketers like to focus on the creative because that’s the fun part. But now we know creative is only 20% of what’s needed to be successful. The fact is too much time is often spent over-analyzing and revising the creative concept, images and copy.

If you’ve ever created a direct response campaign, you’ve seen this movie. Everyone wants to see the concepts. Then everyone wants to put their mark on it and then it gets reviewed again. The creative goes through endless rounds of revisions until it becomes sanitized and diluted by too many cooks spoiling the creative broth. In the end, everyone is equally unhappy.

To be clear, the creative is important – it needs to grab attention and trigger a response. But instead of so many revisions, make sure the creatives understand the audience/message. Then make sure they create very specific and targeted concepts. Finally, have one creative director who approves the creative.

Back to list. Before you even look for a list or start the creative, spend time creating your audience profile. Try to refine it down as far as possible. Remember your campaign can only get a response from prospects already interested in buying. Don’t try to sell to anyone else. THEY WILL NOT RESPOND. You can’t create demand – only satisfy it.

So, the list must be comprised of people who are most likely to buy your product. Seems obvious, but finding the optimal list requires a clear understanding of your best prospects. That may require some additional research and strategic thinking.

Even with the perfect list, it’s important to understand that only a small number of people will respond:those already interested in buying and can be motivated to buy NOW. Keep in mind, a successful campaign might generate just a 2% response.

With the time and budget limitations every marketing campaign faces, you need to focus on only the best prospects. Develop your own and/or buy one from a list company. If your list includes current customers, then you have an excellent list. But if you’re trying to grow beyond those audiences, you need to ensure that you’re talking to good prospects. Do some research and connect the dots. You’ll likely discover smaller customer segments that have even more reason to buy.

What about the offer?

In this context, the offer refers to more than just a promotional discount. It includes both the unique appeal of the product combined with any special discount to buy now. You need both and they must be quickly and clearly communicated. You could offer pet rocks at 70% off and not get any response (unless maybe you had the right list, of course!).

So remember the 40-40-20 Rule. It has decades of results to back it up. There are no guarantees in direct response marketing, but a successful email marketing campaign will require:

  1. Quality list (ONLY those prospects most interested in buying your widget)
  2. Must-have offer (e.g. this unique widget is half off, if you order today!)
  3. Powerful creative and Call To Action (on target message, not diluted!)

Good luck!