Brands Bulletin - October 2009

Thursday 1st October 2009

Welcome to this month's Ashfords’ Brands Bulletin. 

This month, as a break from the norm, we are publishing a topical article written by Richard Marsh, Executive Chairman of RH Advertising, one of the leading full service agencies in the South West of England.  Details of this company, its clients and the services it offers can be found at www.rhads.com    

Is your brand fit for purpose?

Twelve months ago, the business world as we knew it almost came to an abrupt end. Some even declared that business would never be the same again. Now, as we read about the “green shoots” of recovery, many companies are undergoing a complete review of how and where they do business – and with whom they conduct it.  

Businesses are looking at their routes to market, product mix and target audiences … but they should also be taking a long hard look at their brands. Why? Because consumers have changed, with attitudes and buying habits undergoing seismic shifts. Some premium brands, it is true, have carried on succeeding. However, many mid-market brands are struggling – and value brands are growing and grabbing an increased market share. Now is the time to consider whether your brand is as strong as it needs to be to compete in the new business landscape.

We know that in recessionary times companies look hard at their marketing budgets, some mistakenly seeing them as an opportunity to cut costs. This is often the start of a downward spiral, which ultimately leads a brand to oblivion. These are difficult times ­– but it is not just one company that is finding it difficult, it’s the entire market. So while the situation is tough for you, your customers are more than likely facing similar problems. 

Human nature dictates that in these circumstances people rarely take chances and companies will choose to do business with brands they trust. 

The worst of times can provide the greatest opportunities for those brands that are positioned correctly and continue to communicate the right message to the right people. So take a close look at your brand and ask yourself: is it communicating all that it needs to? It’s all about understanding what we want to say and to whom we want to say it. 

However, before looking at your brand it is important to understand what it is. Brands are often mistaken for logos when in fact a logo comprises only a detail of the brand entity. Think of your brand as an iceberg with the logo at the tip – the section that rises out of the water for all to see. Your logo is in fact no more than 30% of your brand message. The majority of the brand is the 70% of the iceberg that lies below the waterline – it’s the area that can do all the damage. It’s the part that nobody sees but everybody very quickly experiences: the culture of an organisation, its values, benefits, attributes and personality. The physical buildings and appearance and, most importantly, its people are its main constituents. So to look at your brand, conduct your own brand audit and ask yourself the following questions:

• Am I sure I know what our brand is? 
• Is my brand relevant to the market place it targets? 
• Do we fully understand what we are trying to say through our brand to our target audience? 
• Are we promoting a competitive proposition? 
• Do all our staff understand our brand? 
• Are we living and breathing the brand in all that we do? 
• Do the visual representations of our brand (our logo/corporate identity) accurately reflect it? 
• Is our brand able to communicate through the new channels of digital media? 

Once you think you know your brand, undertake some research with your customers to find out what their understanding of it is. If the two are not aligned then clearly your communications have been failing. Do the same with your staff. If they don’t grasp what your brand is, how do you expect them to communicate and champion it?  

Web 2.0 is probably a big enough reason on its own to review your brand – if the Internet can elect an American President, imagine what it can do for you. President Obama created a new style of politics – one that was predominantly communicated online. So be sure that your brand works through this medium. Your customers are doubtless taking advantage of the new technologies in all phases of the buying process. From research to vendor selection to the ever-growing comparison sites now fighting for market share.  

Consumers now have the opportunity for a far deeper and richer interaction with your brand. Make sure the message and image you are portraying is the one that you want. More importantly make sure it is the one that your customers want – or beware: one of your competitors will. 

Your brand has real value ­– we call it brand equity. As such it should be a major aspect of your business ­… so understand it, nurture it, protect it and grow it. If you do, not only will your business succeed in the short term, but you will also develop a lasting legacy. 

If you wish to discuss the contents of this email further, or you require any assistance with your branding and advertising needs, please contact Richard Marsh on 01392 219797 or richard.marsh@rhads.com 

Should you wish to receive further editions of the Ashfords' Brands Bulletin, please email  g.williams@ashfords.co.uk 

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