Brand recognition is Marketing 101, yet many neglect this crucial part of building a business.
On today's eBay home page, free boxes are offered to all eBay users from the US Post Office - branded prominently with the eBay logo.
eBay is one of the best of the best at promoting its already strong brand in creative ways. The advertising gained from these boxes (and increased business) will more than cover the cost of the boxes themselves.
Likewise, as a marketer or business owner, you should always be looking for new and exciting ways to promote your brand and increase its strength.
Branding is so important to a marketer that there is even a periodical dedicated to the topic: Brandweek Magazine!
What can a good brand do for your company?
Today's markets are crowded markets, and consumers as well as high tech buyers all look for a recognizable icon or symbol that lets them buy with confidence. In the computer world, the HP logo is associated with high quality products with excellent support. In the competitive world of food, the Kelloggs brand means a great breakfast to millions.
1) A strong brand makes your products recognizable.
2) A brillant tag line sticks in the minds of your potential customers. The most creative tag line I have seen in recent years is the "Ding" campaign for Southwest Airlines. Not only is it catchy, it evokes an auditory response, which engages more of a customer's senses than just a typical tag line. This one is right out of Pavlov's diary!
3) Customers see products with a strong brand as being more reliable and better quality than others. Nowhere is this seen more clearly than in the grocery store, where children argue with their parents over General Mills cereals vs a less expensive store brand, or in a department store where department labels sit untouched while the Liz Claiborne clothing racks are bare.
Many acquisitions are performed so the acquiring company can leverage the strong brand of their acquisition target. The most highly valued brand in the world is Coca-Cola, with an estimated value of $73M - more than most companies are worth in total.
4) The value of a brand is listed as an asset in the financials of many public companies
Brand building is a very important part of marketing - and finding new and creative ways to promote your brand should be foremost in your mind as you structure your daily marketing activities.
