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| Article | About Peter Wolf | |
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Strong Brands (April 23, 2006)
Whether you like Coca Cola or not, it is without doubt one of the best branded products of all times. For all of you who may not be so familiar with what branding actually means, I would like to give you my interpretation. To me, branding is to create a deep emotional connection between a customer and a product, a person, or what a person represents. It's not just the quality, reputation or even image one deeply connects with, it's when one can feel that something deep inside was satisfied and there was a unique experience when brand attachment and brand loyalty are created. I look at brands in our industry, the musical instruments industry, in much the same way. When I walk trade show floors, I watch brands, products, logos and people and try to be aware of how I react. After having done this for a long time, my emotional reaction is also combined with my experienced history of a brand. These two aspects make me stop at a booth or not. Before I actually start to specifically look at a product, I make the decision to stop or walk on, based on an emotional reaction to a brand. It takes awhile to make such emotional reactions to brands happen. More like 15 - 20 years instead of 5. In my opinion, the most important key to getting there is keeping the (brand) promise. Of course, we were all taught to keep our promises. But reality in life teaches us every day that they are not always kept. Promises are broken inside families, for instance or your contractor can't show up this Friday and you've taken a day off. Broken promises create disappointment and are likely to lead to re-evaluating your relationship with somebody or something. Keeping promises is the key to becoming a strong brand. In order to keep them, companies and brands need to refine and improve as an ongoing process. It's a constant struggle. In highly successful companies, people argue a great deal more than in mediocre organizations. "Nothing comes from nothing," is an old German saying that comes to mind. No output without input would be the modern interpretation. In any case, whatever one may make, market or sell (including all aspects of manufacturing, sales and distribution): If you are planning on becoming highly successful, a bunch of people have to work very hard to make it happen and you have to keep most of your promises. Have a great spring, Pete |
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