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Sounds simple, but it’s not that easy. Here are some of
compelling facts that result from religious brand building:
At a recent branding seminar which I attended, one of
speaker’s provided some staggering numbers related to valuation of a few of
largest global brands.
Coca Cola at #1 tells
story: Total Valuation - $115 Billion (give or take) Brand value - $70.45 Billion (about 61%) (source: Business Week, 4 Aug 2003)
Anecdotally, Ford is said to have 75% brand valuation. You can guess what
stats are for Microsoft, IBM, MacDonald’s, Nike, Intel, etc.
“So what?” you might be thinking, “I’m not in that league. I can focus on selling and networking. No need to spend time and money on that BRAND stuff.”
Certainly
deep-pocket conglomerates have had plenty of time and money to build
kind of numbers that take your breath away. But it’s not just
advertising spend that got them there. They had to start and continue with a vision, products people wanted, service that satisfied and made their customers talk about them, creating more customers. That’s what brand is all about.
Brand Building on Any Budget: 1. Articulate your vision, and stick with it. No flip-flopping. No re-inventing every year. No re-naming to stay trendy. Take
time to clarify who you are and what you offer. The exercise alone will be worth it. Then build your communication tools.
2. Deliver your products and services in a consistent way that satisfies people. They WILL talk about you. And according to David Thompson, CMO of Webex (“We’ve got to start meeting like this.”),
only true brand measurement is this: Your customers are willing, nay, ANXIOUS to refer you to others. Amen.
3. Make sure your brand is communicated by everyone in your organization and anyone associated with you. Bad to say, “We are a high-touch service provider” and have someone call your phone number only to go into an endless, impersonal phone script hell. Be honest about your value.
4. Yes, it will also help if you develop a “look and feel”, those somewhat scary words that conjure up $$$$ and endless rounds of designers comps. It doesn’t have to be like that. The dot.bomb era should have weaned anyone of that notion if nothing else. Money was flying around paying for
jazziest names, logos, taglines and websites. And it kept flying…far, far away. Famous? You want famous with out frill? Try “Hewlett-Packard”. “HP”. Two names. Two blue initials inside a curved frame. Starting in 1939 they didn’t launch ad campaigns, they instead delivered consistent innovation. Tagline: Invent.
5. Measure. Be persistent. And real, and sometimes creative. But, be yourself.
I’m going online to order some authentic Chattanooga, TN Moon Pies to be delivered, which I will then have with a Starbucks, not an RC, that I will have purchased from a Starbucks location, because
brand experience is so much more rewarding there than at Albertson’s. (Where there is a Starbucks kiosk, but it is an extremely disappointing extension of
brand.) Starbucks – are you listening?
Further reading along
same lines: http://www.marketingprofs.com/4/layton1.asp
http://www.marketingprofs.com/3/arruda7.asp Small Business Branding: The Personal Connection
Brand history and fun facts sites: http://www.foodreference.com/html/fhellmansmayonnaise.html http://www.roadfood.com/Forums/topic.asp?TOPIC_ID=2879첥
Donna Lehman welcomes comments: dlehman@market-up.com
