The Brand Equity – Brand Story Connection
Like most people I’ve probably tended to silo the financial value that brands generate from the story they tell.
NEW THINKING
Like most people I’ve probably tended to silo the financial value that brands generate from the story they tell.
At a recent presentation, I introduced the concept of the “goodness movement”. I defined this as a global wish for social wellness that is driving corporate social responsibility today: a recognition by brands that those that are seen to do good perform better; and a response to a wish by consumers to make a difference.
Consider a red can of cola; blue striped capital letters, a black apple, and yellow arches –what brands come to mind? In each instance, color is the predominate element of identification and association with a brand. Color enables us to instantly recognize and draw emotional associations to a brand.
You can change a corporation name gradually – by phasing in new materials over a period of time. Or you can do it radically: Everything new and in place on one changeover date. Either way, you’ve got a lengthy list of materials to consider.
Perhaps you’ve seen this video about the power of words, perhaps not. The storyline itself may have been attributed to David Ogilvy, nevertheless, it is a powerful story that offers critical insights into how we should think about words and their influence in this age of brand storytelling.