If A Picture Is Worth 1000 Words, How Much Is A Brand Worth?
More importantly, how much is a successful brand worth and how did it become successful? Think of some successful brands; Apple, Chipotle, Starbucks, Kleenex, Virgin Atlantic. How much do you think their brands are worth? Then think of the marketing world's most famous brand flop; the Edsel.
What are all these companies selling? A product? A personality? An experience? Has the name taken over the meaning of another word?
I've seen way too many companies start selling their product without any kind of analysis of what their brand is. It makes it a whole lot easier to create an amazing marketing and PR campaign when you have a brand positioning statement to promote your product/company.
It's amazing how a little work upfront on a brand analysis will help the entire company get excited about a campaign to market and sell your product.
What are your current clients saying about you? other stakeholders of the company? What about clients you'd like to have? and former clients? What type of internal review have you done? What are your goals for the brand? Who are your true customers? Why would they want to be a customer? What is the core feeling or benefit from being your customer?
Once you have that figured out you will have a much better understanding for a brand positioning statement and then you can dramatically tell your brands story.
Why did the Edsel fail? Marketers say it was the Ford corporate culture and its failure to understand the American consumer.
Are you doing your homework to understand your customer? Are you planning for a successful brand?
Is your brand, or more importantly the marketing for your brand, an Apple or an Edsel?