Why
does a Durex condom seem to be the safest
choice when it comes to protected sex? Why is Starbucks the first place that
comes to mind when I ask my friend to meet for coffee? Why do so many people
think Kleenex is an actual word when it is just
a tissue brand?
I
will tell you why… Brands have (magical) power: the power to make people think
about them at the right place, at the right time. This is brand recognition / recall,
and this is what any brand wants to achieve. It is the marketing holy grail.
My
perception is: Brand is an intangible sphere made of a specific imagery, associations,
name, sounds, smells and personas that give your brand an identity to
differentiate your company, and to communicate and deliver a premium to your
customers.
This is why you cannot entirely measure brand value only by ranking them according to revenues,
or market capitalisation index.
Of course, the cash you make will speak for itself and will put your brand where it is supposed to be.
But
is revenue the end goal? Or is it a
mean to an end? According to some of the most famous agencies’ rankings, it is
a defining dimension. Financial value is how WPP, for instance, assesses brands’
value and rank them.
As I see it, it is a limited view,
as now other aspects matter equally, such as social currencies. Your online share
of voice (mentions of your brand &/or product relative to the rest of the
industry mentions) sometimes are more impactful in consumers decision making process along their journey to purchase.
So
how can a brand enhance its value, other than by increasing profit?
CSR is, in my opinion, a slippery slope.
It should not be seen as a Unique Selling Point as it is, nowadays, an almost
normal criterion. You wouldn’t imagine Tesco not having a sustainable and social policy and guidelines along their business value proposition. So, to me, putting
ethics and social responsibility on the front line is not strong enough to compete. It should be
existent yes, but as a pillar, a benchmark to follow, for your
business activities.
What should matter to companies' eyes is the following: The truly ultimate ‘recognition’, when a consumer doesn’t need to recognise you. They
just need a few hints to figure out it is your product. No more logo, no more slogan, no more music needed. McDonalds is the most recent and brilliant example of that kind of achievement. Since last summer, McDonalds and their
French agency, TBWA are playing the ‘no brand card.’ They are reasserting the
leading position of our all time favorite junk food retail shop with just having
close-up product shots and basic drawings on their menu (sic!).
