Monique Drummond - Building a Brand
1-00:00:48,120 So I've been asked to talk about 1-00:00:50,670 building brands; I thought I'd 1-00:00:54,058 start with a quote...Richard Branson said. He said that "The idea that business is 1-00:00:59,070 just a numbers affair has always struck 1-00:01:01,558 me as preposterous. For one thing, I've never 1-00:01:03,210 been particularly good at numbers, but I 1-00:01:05,429 think I've done a reasonable job with 1-00:01:08,189 feelings, and I'm convinced that it's 1-00:01:09,270 feelings and feelings alone that account 1-00:01:11,578 for success in the 1-00:01:15,209 Virgin brand and its myriad forms."
I 1-00:01:17,368 think for any brand to be successful, it has 1-00:01:20,250 to be in tune with the feelings of the 1-00:01:21,599 customers that it's targeting. At Relish 1-00:01:23,968 Research, we don't really give brands 1-00:01:25,559 identity; we work with them to try and 1-00:01:28,559 work out the best route - whether it's for 1-00:01:30,569 packaging, or for advertising, or for 1-00:01:31,810 any new product development that they 1-00:01:34,149 might be doing - but we 1-00:01:36,519 really are almost the conduit between a 1-00:01:39,759 brand, and people like all of you who 1-00:01:41,500 might be their target market. So we work on loads 1-00:01:44,019 of different brands in loads of 1-00:01:47,618 different areas.
First thing is; what 1-00:01:50,949 is a brand? A brand is not a product, 1-00:01:52,509 or a service or a company; well, it could 1-00:01:54,939 be that, but it's also a hell of a lot 1-00:01:57,039 more than that. That's what's becoming more 1-00:01:59,078 and more exciting, I think, for marketeers 1-00:02:02,109 as we move forward; we're not just 1-00:02:04,899 talking about a single product.
1-00:02:08,580 A brand is greater than 1-00:02:10,750 some of its parts. A product is an object, 1-00:02:13,569 whereas a brand is actually a 1-00:02:15,430 personality; if you think of any brand in 1-00:02:18,009 your mind, you'll probably think of it in 1-00:02:20,409 terms of a personality,rather than just 1-00:02:23,739 a simple product in the jar or product 1-00:02:26,859 on the shelf. A product is sold in the 1-00:02:29,349 shop; a brand has bought by all of us 1-00:02:31,780 as a consumer of that brand, so that's 1-00:02:33,969 another major point of difference. The 1-00:02:37,719 products are quickly outdated, whereas 1-00:02:39,310 brands move with the times; I think 1-00:02:39,740 we've got a really good example of the 1-00:02:43,580 difference 1-00:02:47,439 between product and a brand. If you had 1-00:02:53,470 bought an Apple PowerBook - somebody told me this last week - 1-00:02:55,719 in 1997, it would cost you 1-00:02:58,419 $5700, which is quite 1-00:03:01,300 a lot in 1997. If you'd invested in 1-00:03:02,619 the brand, that money would now be worth 1-00:03:04,750 $33000. 1-00:03:07,960 That's the difference between 1-00:03:10,870 a product and a brand; brands are much 1-00:03:14,050 longer-lasting....
But they thought 1-00:03:16,390 of Hovis as a bakery that baked bread 1-00:03:19,750 because of that campaign. So the idea 1-00:03:21,729 was, "Where are going to go from here?" Now 1-00:03:23,080 the first thing that the agency came 1-00:03:24,959 back with - it really was like 1-00:03:29,860 something out of The Office - was a 1-00:03:33,700 campaign called "Hovis, Hovisn't." Now, as you 1-00:03:36,790 can imagine...
There are four really successful 1-00:04:28,189 elements, I think, to building a 1-00:04:30,649 successful brand and to make sure that 1-00:04:33,589 the brand works over time. The first one 1-00:04:35,239 is, it has to be relevant - which means you 1-00:04:37,849 have to work out who is it the brand's 1-00:04:40,790 aimed at - and how can we talk to 1-00:04:42,970 those people in a relevant way?
The other 1-00:04:45,590 thing is it has to be credible, because 1-00:04:47,990 you can't make up stories that don't 1-00:04:50,810 work; you will be found out, and you will be found 1-00:04:53,030 out even faster now, with things like 1-00:04:55,129 Twitter and Facebook. You will lose 1-00:04:58,069 everything if you try to be what you're 1-00:05:01,250 not. Differentiation is really, really 1-00:05:03,050 important; to be seen as something unique 1-00:05:05,300 about you that means that you're not 1-00:05:07,040 like everyone else out there, that you've 1-00:05:09,470 got something about your brand that no 1-00:05:10,910 one else can really copy.
The other 1-00:05:13,700 thing that's really important is 1-00:05:15,560 consistency, because you can't keep 1-00:05:17,209 changing your logo. I think we've also 1-00:05:18,829 got other examples as well, like Nike; 1-00:05:21,319for the good brands that you think, of 1-00:05:23,269 are probably taking all those boxes. I think 1-00:05:25,909 if you can, then you will be 1-00:05:33,859 probably on the right path to building a successful brand.
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