An Interview With Fotis Georgiadis
Another strategy for building a strong brand is identifying your target market. You can do this by creating an ideal customer profile. Who is your target consumer? Where do they live on and offline? How do they communicate?
As part of our series about how to create a trusted, believable, and beloved brand, I had the pleasure to interview Danilo Diazgranados.
Since leaving his native Venezuela more than a decade ago, Danilo Diazgranados has been a successful independent investor, with a focus on the consumer goods, real estate and financial sectors. With a deep sense of responsibility to “pay it forward,” Danilo mentors young entrepreneurs, supports vocational culinary/hospitality education programs, and contributes his time, expertise, and resources to a variety of other philanthropic pursuits.
Thank you so much for doing this with us! Can you tell us a story about what brought you to this specific career path?
I was lucky enough to be raised by an entrepreneur. My father was a physician, and the founder of Metropolitan Polyclinic, a healthcare organization in Caracas. So, from a very early age I was enamored with the idea that someone could build the career they wanted from scratch.
My path from child in Venezuela to international investor and entrepreneur can be divided into three chapters: early entrepreneurship, a successful career in finance, helping businesses find their footing.
To some, this may not seem like the straightest possible path, and they aren’t entirely incorrect. But, for me, each of these chapters have built upon each other, allowing me to create and leverage the experience necessary to succeed at the next step.
Can you share a story about the funniest marketing mistake you made when you were first starting? Can you tell us what lesson you learned from that?
I founded my first business, a travel agency, while I was an undergraduate at the University of Miami. So, I am sure I made all sorts of mistakes–some of which may be funny in retrospect. But, the most important lesson I learned during that time was to always keep trying.
Perfection is impossible, especially when you’re just starting out. What matters more is that you don’t give up when something inevitably goes wrong. Every misstep is an opportunity to try something different.
What do you think makes your company stand out? Can you share a story?
Whenever I begin a new business venture, I always consider–and ensure that my partners have considered–how the community will be impacted. Sometimes, that community is the employees or the neighborhood where the organization is located, but it can be as large as a region or even the country, depending on the brand.
For example, when opening a restaurant, you must consider the diners you’ll be attracting. Will these people be taking up residents’ street parking? Will the atmosphere include loud music or result in people wandering around late into the night? Do the prices prohibit your neighbors from dining with you? What can you do to be a good neighbor?
Are you working on any exciting new projects now? How do you think that will help people?
To me, there is nothing more important–or exciting– than investing in the future.
For the past few years, I have supported a training course at the INFOTEP School of Hospitality, Gastronomy, and Pastry in the Dominican Republic. At the end of this 5-week program, one standout student is selected to carry on their studies at the world-renowned Basque Culinary Center in Spain. There have been two winners so far, and we just kicked off the latest iteration of the course.
And this year, we also expanded our initiative stateside, and established a scholarship with the Culinary Institute of America, which will be awarded to a student who is planning to use their degree to give back to their community.
I could not be more thrilled to work with these esteemed institutions and help provide opportunities for young people who are passionate about the culinary industry. Every recipient has an amazing career ahead of them, and it’s an honor to be part of their journey.
Ok let’s now jump to the core part of our interview. In a nutshell, how would you define the difference between brand marketing (branding) and product marketing (advertising)? Can you explain?
In simple terms, brand marketing is how a company presents itself as a whole to the world and, more importantly, its customers and core audience. This could include strategies that increase brand awareness–like establishing a social media presence–opportunities tell the company’s story.
Product marketing is how a company positions and builds awareness of a specific product or service–such as a commercial or contest — with the goal of generating sales.
Both are important to a company’s success, and they need to be able to work together cohesively. For example, if one of your brand pillars is sustainability, a massive direct mail campaign may not be the best way to promote your flagship product.
Can you explain to our readers why it is important to invest resources and energy into building a brand, in addition to the general marketing and advertising efforts?
You should never let someone else decide your company’s story, mission, or value proposition.
Whether you invest in branding or not, your company will be subject to the perception of your audience, so it’s important to have an active role in shaping that impression. That work starts from within–what is your corporate culture? What do you stand for? How are your employees describing your organization? What steps can you take to establish your identity in the market?
Once you strategically build your brand, investing in marketing and advertising will ensure you reach the right audience and loyal customers who will help your company grow.
Can you share 5 strategies that a company should be doing to build a trusted and believable brand? Please tell us a story or example for each.
There are many strategies that can be used to build a trusted brand, but I always start by defining a company’s identity. One way to do this is to spend time creating a purpose and mission. Be sure to include your reason for existing, how you serve your customers, and what makes you different from your competitors.
Take, for example, luxury powerhouse LVMH’s mission:” The world leader in luxury, LVMH has since its founding in 1987 deployed a business model marked by creative momentum and a constant quest for excellence. The Group drives long-term momentum to develop its 75 Maisons, respecting their distinctive identities. Throughout the world they are all ambassadors of our vision of a refined art de vivre.”
This statement succinctly says how they see themselves, what they do, and how they operate. Most importantly, what they’re communicating is unique to them, and cannot be easily imitated.
Another strategy for building a strong brand is identifying your target market. You can do this by creating an ideal customer profile. Who is your target consumer? Where do they live on and offline? How do they communicate?
Speaking of communication, the third strategy is to nail down your company’s voice and tone. This will help your marketing and advertising efforts. One way to do this is by researching brands your ideal customer loves and diving into how those companies communicate. Note what you like and don’t like, as well as what your company is currently doing and what can be done better.
For example, if you are looking to launch a new gin targeted at millennials, you may want to look into how Ryan Reyenolds advertises Aviation Gin. Of course, unless you are also a Hollywood A-lister you will not be able to replicate his efforts, but you can certainly gauge the success of his tactics and tone.
While you’re researching competitors, take note of ways to differentiate your company–which will help develop a unique brand that sets you apart in the market. For example, Delta Airlines differentiates itself from other carriers by focusing on customer service, including superserving business travelers, whereas Southwest prides itself on transparent pricing and minimal fees.
The final strategy I would recommend is communicating with your current and potential consumers even when you aren’t selling to them. Informing, affirming, and entertaining your audience helps build awareness and trust among customers. One great way to do this is content marketing through platforms like a company blog or YouTube, which also helps your company’s search ranking. For example, you’ll see during the upcoming holiday seasons that many brands will take this opportunity to reach out to their customers just to offer warm wishes.
In your opinion, what is an example of a company that has done a fantastic job building a believable and beloved brand. What specifically impresses you? What can one do to replicate that?
I am constantly in awe of the José Andrés Group (formerly the Think Foods Group).
José Andrés has taken his mission to “change the world through the power of food” and executed it at a global level. His portfolio of restaurants is diverse, both in terms of cuisine and price point. And, despite the fact that some have grown to become international chains, they are known for their quality and consistency–which goes a long way in cultivating and maintaining long-term customers and ambassadors.
But, it is the philanthropic work that Andrés does through the World Central Kitchen that puts the believability of his brand over the top. Any time there is a major disaster, consumers see this world-renowned chef on the front lines–be it in the aftermath of a catastrophic storm or a nation on the brink of invasion–to ensure people are fed. He is literally living his mission.
For many brands, this scale and commitment may be out of reach. But, consistency and delivering on one’s mission are important for every organization.
In advertising, one generally measures success by the number of sales. How does one measure the success of a brand building campaign? Is it similar, is it different?
To put things bluntly: nobody will buy from you if they don’t know who you are. And that is why brand building is so important.
One critical measure of a successful brand building campaign is awareness–which can be tracked via social media mentions, website traffic, media impressions, and search engine rankings. While none of these metrics can be tied to dollar amounts, they tell the story of an organization’s current and potential customer base by determining how and where people are interacting with a brand, and what they are saying about it.
These insights can then be used to make adjustments to the brand and/or inform sales initiatives.
What role does social media play in your branding efforts?
Social media is a powerful tool, but I am a firm believer that a company should not get involved with social media unless it has a sound strategy based on real objectives and audiences. For example, an all-inclusive resort may be more likely to reach its target consumers on Instagram but not LinkedIn.
So, I would say that social media can play a very important role in branding efforts–but it may not be for every brand. And there is certainly no single “best” way to approach it.
You are a person of great influence. If you could inspire a movement that would bring the most amount of good to the most amount of people, what would that be? You never know what your idea can trigger. 🙂
At this point I may sound a bit like a broken record, but I truly believe thinking locally should be a tentpole of any organization.
So, if I could inspire any movement, it would be that every company would find a way to become involved in its community. Of course, this must be done in a way that makes sense to the brand. For example, a hotel may make its ballroom available to local charities to hold fundraising events. Or a restaurant may partner with a shelter to provide meals, excess supplies, or jobs to residents.
Can you please give us your favorite “Life Lesson Quote”? Can you share how that was relevant to you in your life?
“Luck is not a business model.” — Anthony Bourdain
Don’t get me wrong, I am a firm believer in luck–and no one can succeed without at least a bit of it. And I have been fortunate enough to experience a bit of luck in my career, so I know how hard it can be to resist the assumption that one’s salad days are here to stay. But, this quote helps remind me that a sustainable business cannot be built on the hope of chance or good fortune. Instead, you need to create a strategy that you believe will generate results and enjoy any luck that comes your way as an added bonus.
We are blessed that very prominent leaders in business and entertainment read this column. Is there a person in the world with whom you would like to have a lunch or breakfast with? He or she might just see this, especially if we tag them. 🙂
I would say Heston Blumenthal–and not just because he may be inclined to make the meal. Heston has done an incredible job of becoming a very successful public figure. But, what is more impressive is that he has done so in a way that hasn’t diluted his food or his talent–which is something that is becoming increasingly difficult for celebrity chefs. And while I get the sense that Heston would scoff at anyone admiring his personal brand, I very much do.
How can our readers follow you on social media?
I am on Twitter (@diazgranadosd) and Instagram (@danilo.diazgranados), and you can also follow me on Medium where I write about wine and food–among other things.
Thank you so much for joining us. This was very inspirational.
Danilo Diazgranados: Five Things You Need To Build A Trusted And Beloved Brand was originally published in Authority Magazine on Medium, where people are continuing the conversation by highlighting and responding to this story.
