There are several reasons for developing a brand: greater ROI, build equity in the business, create new opportunities, competitive advantage, and survival to name a few. The most important compelling reason for most owners and CEO’s is better ROI. “If you are not a brand you are a commodity. Then price is everything and the low cost producer is the only winner” per Philip Kotler, professor at the Kellogg School of Management.
Sometimes a simple idea is more effective and engaging than a collection of ideas that try to communicate all of the features and benefits of your service. The problem with the simple idea is not the idea but the client’s resistance to it. They feel that it’s just too simple to work. It doesn’t tell all about their product’s benefits. Often a simple idea is humorous and they feel their problem demands a serious solution because their business is serious. They are afraid to have some fun at their own expense. But we love people who have a sense of humor and who don’t take themselves too seriously. The same is true for products and services…especially serious products and services. A brand developer knows not to take your product too seriously, your customers don’t.
Serious products such as home and auto insurance have produced some of the silliest and funniest advertising on TV today. Progressive Insurance is using Flo’s family dinner conversation to make fun of its own marketing. Geico is outspending all insurers using silly situations with a gecko and a pig to tell their story and they’re increasing sales.
“Imagination is more important than knowledge.” Albert Einstein. Imagination is also the best way to differentiate your product or service if you combine it with some guts and a little humor.
The Association of National Advertisers' Masters of Marketing conference was held last month in Orlando, Fla. Big and small marketers came together to share best practices and ideas.