- BRAND SPANKING RIGHT YOU DO!
“In most product categories, price is the primary purchase incentive for ONLY 15 - 35% of all customers.”
(Source: Kevin J. Clancy, ‘‘At what profit price?’’ Brandweek)
SIMPLE QUESTION: If it is not based upon price, why do your customers choose to come back to you, or even choose you in the first place?
VERY SIMPLE ANSWER: Your brand.
Branding goes beyond a logo, or a slogan, or an advertising campaign. Branding is a long-term but relatively simple investment, to build a promise to your customers and support this by its delivery. It is not just pretentious jargon for all things marketing, although it often used in vain, it is purely a term which can sum up how you will succeed.
VERY SIMPLE ANSWER: Your brand.
Branding goes beyond a logo, or a slogan, or an advertising campaign. Branding is a long-term but relatively simple investment, to build a promise to your customers and support this by its delivery. It is not just pretentious jargon for all things marketing, although it often used in vain, it is purely a term which can sum up how you will succeed.
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Renault Clio: Dita Von Teese strips off in new TV campaign |
The best part about branding your own business, is it’s your one chance to spell out your uniqueness and tell the world who you are, why you’re there and what you can do, and most importantly, you can do it in VERY BIG LETTERS if you choose to!
Your brand concept may be that you are the cheapest or the fastest or the most elegant of your kind, it doesn’t matter. What does matter is that you are consistent and special, avoiding a situation where your products or services can be interchangeable with other companies, so that purchase decisions become driven by price, they must want to choose you over and above your competitors regardless of price ratio. Levi’s vs George at ASDA 10:1 , Heinz above all others 3-4:1, ITV or BBC 1:1. How do you choose?
Your brand concept may be that you are the cheapest or the fastest or the most elegant of your kind, it doesn’t matter. What does matter is that you are consistent and special, avoiding a situation where your products or services can be interchangeable with other companies, so that purchase decisions become driven by price, they must want to choose you over and above your competitors regardless of price ratio. Levi’s vs George at ASDA 10:1 , Heinz above all others 3-4:1, ITV or BBC 1:1. How do you choose?
‘‘Familiarity (exposure and/or use) leads to liking.’’
(Source: Andrew Ehrenberg, Neil Barnard, and John Scriven, ‘‘Differentiation or Salience.’’ Journal of Advertising Research.)
It is difficult to calculate the equity of a brand because it is based upon a building a relationship and a strong loyalty which can grow over time. It is often so strong that it compensates for performance flaws, such as an out-of-stock situation, poor customer service, a product that falls apart, inconvenient store hours, or a higher-than-average-price and that is when the true value of your brand can be measured. The difficulty is maintaining your brand equity because after the initial investment of time and energy, it is often taken for granted, overly drawn upon, and not adequately replenished, especially in times of crisis or to meet short-term needs. The longevity of your brand equity depends purely on your level of investment. The more you invest into the ‘brand bank’, the longer the ‘brand pension fund’.
This first weekend of February 2011; Renault has brought back the "Va Va Voom" for its Clio ads with a racy spot featuring Thierry Henry, Rihanna and Dita Von Teese (created by Publicis London). It has been 5 years since this campaign was last on the air and yet the slogan remains clearly stamped in our minds as if it were yesterday and as such, remains as popular as ever, proof enough that the inherent strength of the original Clio marketing concept resulted in a ‘brand bank balance’ capable of sustaining more than a 5 year pension fund - impressive.
This first weekend of February 2011; Renault has brought back the "Va Va Voom" for its Clio ads with a racy spot featuring Thierry Henry, Rihanna and Dita Von Teese (created by Publicis London). It has been 5 years since this campaign was last on the air and yet the slogan remains clearly stamped in our minds as if it were yesterday and as such, remains as popular as ever, proof enough that the inherent strength of the original Clio marketing concept resulted in a ‘brand bank balance’ capable of sustaining more than a 5 year pension fund - impressive.
If you can complete the following statement, then we can help you to maintain your BRAND.... but equally if the answer is no? No problem - we can help you establish your ideas and find a benchmark at which to aim : [enter your own details]
[Brand name] is/will be the [ most trusted/highest quality/innovator] in the field of [industry] for [product or service category].
For example:
PUDDING CREATIVE is/will be the INNOVATOR in the field of BRAND DESIGN & MANAGEMENT for A NEW ERA OF DIGITAL SOCIAL MARKETING.
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