For start-up entrepreneurs in this recession, there is a lot of confusion about how to build and promote a brand. Whether you spend the money now or later, when you are making a profit, on building a brand (logo). Both have to happen, but it’s more important that they happen in the right order. A blockbuster feature film is a perfect example, the archetypal, of the right package. The following analogy should clarify the branding issues above. A movie only gets one chance to get it right. If it is a failure, it cannot be repackaged or redistributed.
Usually the script and story (positioning platform and tagline) are developed first, and from there the film title (trade name) is derived. A renowned director meets with some producers to raise funds (working capital). Then comes the choice of suitable and equally renowned actors and actresses (symbol or visual representation) for the main and supporting roles, the film is shot and, after editing and post-production, the product (brand) is created. End of the first part.
Part of the initial marketing is clever use of the director, actors, and actresses in interviews, often praising each other’s sensitive, wonderful, outstanding, passionate, and possibly award-winning performances. They discuss their treatment of their respective roles and the characters, and sometimes the plot of the film. The director usually echoes his feelings in his interview with the press.
The film is advertised in the press and promoted by a trailer on television and in theaters. The film begins with a national release and the critics have their day, hopefully a good one. The movie is being distributed around the world, maybe winning an Oscar or two, and finally being available on DVD for sale or rental with possible spin-offs like the soundtrack CD, merchandise, novelties, and toys.
If the movie is a blockbuster, the life of the brand can be extended with sequels, trilogies, quadrologies, crossovers, prequels, and the like. End of the second part.
It is clear that a brand has to be born first, that is, with a face, before it can come to life. Entrepreneurs make the mistake of putting the cart before the horse.
How many times have I heard the words:
“I have to make money first before I can afford a professionally designed corporate branding and identity. Plus, we’re selling an intangible service that’s personal.”
Gold
“It took me 15 years of blood, sweat and tears to establish my company and I did it without a fancy brand! Why do I need one now?”
Have you ever wondered why it took what must have been a long and harrowing 15 years? Or if it will survive another 15 faceless years in today’s global marketplace, without the traditional barriers to entry to keep the competition out? So you think your ugly duckling will eventually turn into a beautiful swan?
Not likely. If you can’t afford to put a face on your brand first, do it as soon as possible. According to Netcraft, the highly respected internet research company, active websites have grown from around 60 million to around 78 million in the last two years. That means your competition on the World Wide Web has increased by 30% and your potential market has decreased by 30% or, at best, remained at the pre-recession level.
Resist short-term profiteering and instead invest in your brand because it will pay off big in the long run. Build your brand first and then promote it. A faceless product turns you into a non-entity, which will only result in a fight for survival and possible suicide.
A well-designed brand will not only fuel the current success of your brands, but will also help your business survive the recession. Additionally, the brand equity you create now will provide a barrier that will help prevent future competition from entering your target market.
