I’m not sure why this is lost on so many.
This simple, profound statement by Sir John Hegarty in Campaign last week is at the heart of what’s been forgotten in the industry.
The power of a brand is echoed and amplified by those who recognize the position and meaning of a brand, whether they are actual customer or not.
We wear brands as badges. Brands reflect taste, choice, and personality.
And the fundamental impetus of a brand is that other people understand what they mean. What is says about someone.
This awareness feeds brand growth. It is what many in the marketing world have deemed unnecessary in this age of digital targeting and performance-based thinking.
How wrong they are.
Because building brand is what sustains long-term financial value.
BUILD YOUR BRAND OR LEAVE MONEY ON THE TABLE
Let’s start with this: your brand is not your logo or your color palette. It’s the perceptions and feelings people have about you, it’s what people say about you to others. Your brand is a relationship first, not a font. To earn that relationship, brands must have meaning, purpose and saliency.
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You’ve heard the term, MVP, or “minimum viable product”? It’s big in the lean startup community. Around since 1999, the term was coined and defined by Frank Robinson, and thrown around a lot by Steve Blank, and Eric Ries. Ries defines MVP as “…that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.” It seems to be the early stage tech mantra these days. But be wary, the MVP can be a trap.
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The 10 Keys To Building a Lasting Brand
Our psychological relationships with brands and the resulting brand equity is one of those amorphous concepts that’s always been hard to quantify. Nevertheless, successful marketers know the benefits of a strong brand are undeniably real. A brand is a company’s most enduring asset. Properly nurtured and leveraged it has tremendous financial value. A powerful brand can enhance valuation, improve transaction
Read More10 Mobile Marketing Insights Gleaned From Judging the MMA Smarties Awards
First off, the Mobile Marketing Association (MMA) is a champion for transformation and innovation in mobile marketing. Its members include a wealth of global heavy-hitters the likes of P&G, Walmart, Ford and MasterCard. More than 800 companies from fifty countries around the globe. Many see the MMA as the global standard bearer for best practices.
Read MoreTrump 2016: A Rebranding Challenge
Hey, it’s Donald. Love him or hate him, he is what he is. And actually, that just might be his advantage. While the masses may associate his brand with “You’re Fired” or his celebrity status or being a real estate mogul, Trump actually has few personal brand attributes that, with the right spin, the American public just might be into.
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There was something refreshing about The Burger King’s visit to Bob Baffert’s private box at Belmont Park this past weekend. Mr. Baffert is the renowned trainer of American Pharaoh, the thoroughbred colt that won the Triple Crown Sunday. There he was, innocuously hangin’ out in
Read MoreTelling The Truth And Brand Equity
Brands are living, breathing things. They require shaping, nurturing, and maintenance over time. Done well, a strong brand has the power to build a business and sustain it well into the future, and can make its owner rich along the way. Brand equity, as opposed to brand value, has power beyond the balance sheet. Brand value is the financial difference between net present value of future cash flow between a branded versus unbranded product.
Read MoreNot Getting Great Work From Your Agency? Maybe It's You
Contrary to popular convention, advertising agencies can be a tough place to realize creative aspirations. Though if your agency is good enough, the odds that you will satisfy your creative passions improve, if only slightly. If your agency is really, really good, you might even tell a bad client or two to get lost. A rare treat indeed. And if, just if, your agency is even better than that,
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