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The big news on Wall Street last year was the initial public offering of Internet search engine Google. If you were a visitor from another planet, you might be asking yourself, What big, sophisticated, high-technology company is behind the success of Google? Could it be IBM, Microsoft, Intel, Apple, Oracle, SAP, Hewlett-Packard, Cisco, Dell, Xerox, Sun Microsystems, Philips or Siemens? Of course not. The brains behind Google are two Stanford students, Larry Page and Sergey Brin, who launched the Web site in 1998. Some six years later, the two founders are worth billions.
All the advantages:
With some exceptions big companies seldom launch new brands that become big successes, even though big companies have all the advantages. Big companies have the resources, the people, the credentials, the distribution networks, the media contacts. I can't think of a single advantage an individual entrepreneur has over a big global conglomerate. Yet there wasn't a big global conglomerate behind the success of brands such as Starbucks, Red Bull, Linux, JetBlue, Amazon, Yahoo!, eBay, Priceline, Monster.com and a host of others.
Nor for that matter was a big global conglomerate behind the success of most of the big brands of the past. Brands like Apple, Microsoft, Digital Equipment, Dell, Sun Microsystems, Hewlett-Packard, Oracle, SAP, Siebel, Compaq, Quicken, McDonald's, Subway, Pizza Hut, Domino's Pizza, Papa John's, Wendy's, Gatorade, Mountain Dew, Wal-Mart or Costco. I repeat. Big companies seldom launch new brands that become big successes.
There are two reasons for this phenomenon, which we call the "two deadly sins of marketing."
The first deadly sin is timing.
The good book says, "There is a time to be born and a time to die." The time for a brand to be born is before the category is established in the mind. It was 14 years after the launch of Red Bull that the Coca-Cola Co. finally responded by launching its own brand of energy drink-KMX Does KMX have enough energy to overtake Red Bull? Not a chance. Once a competitive brand is established in the prospect's mind, it's almost impossible for a me-too brand to overtake the leader.
32-year head start
It was 32 years after the launch of Southwest Airlines that Delta finally responded by launching its own no-frills airline called Song. You can't give your competition a third-of-a-century head start and expect to build a brand. All the momentum is on Southwest's side. Not to mention the money and the resources. Imagine spending all day in the boardroom at Digital Equipment Corp. trying to persuade the chief executive and his staff to launch a serious 16-bit business personal computer before IBM did. No luck. We don't want to be first, said the chief executive. And I'm not concerned about IBM, he continued, because if IBM does go first, "we'll beat their specs."
Well, IBM did go first with the launch of the PC in August 1981, the first 16-bit serious business personal computer, a product that went on to dominate a fast-growing market. And Digital Equipment did follow with not one, but three different lines of personal computers, none of which made a dent in the marketplace in spite of their presumably better specs. IBM had become the standard, and if you wanted to participate in the personal computer marketplace, you were only a clone. Digital Equipment lost Too bad. Digital Equipment had the credentials to dominate the PC market. Brought to you by "the world's largest maker of small computers" was the tagline for Digital Equipment's new personal computer.
Imagine spending all day in a boardroom at Xerox trying to persuade the corporation to launch a desktop laser printer before the Hewlett-Packard LaserJet got strongly established. No luck. Too bad. Xerox had the credentials to dominate the laser printer market. In 1977, Xerox had introduced the 5700, the world's first successful laser printer.
The second deadly sin is naming.
A big company wants to put its own name on a new brand. This is generally a mistake. New categories generally require new brand names. In spite of IBM's head start in business PCs, the company eventually lost out to Compaq and Dell, both new brands created especially for the personal computer category. To most prospects, IBM meant mainframe computers, not PCs (It's interesting to note how many marketing people chide IBM for not moving fast enough into personal computers, when in fact they were first. "Mainframe mentality" is their usual complaint.).
Imagine spending all day in the boardroom at Continental Airlines, trying to persuade management not to name its new no-frills airline Continental Lite. You have two choices. Either you can make the entire Continental system a no-frills airline (the preference) or you can give your new no-frills airline a different name than Continental. No luck. Continental Airlines crashed The company went ahead with Continental Lite, an airline that took off and then just as rapidly came down to earth, after losing many millions of dollars.
Then there's Kodak, a company that is paying the price for not giving its new digital camera line a different name than Kodak. Kodak means film photography, not digital photography. The irony is that Kodak invented the first digital camera (back in 1976.) Yet the Kodak name locks the company into the past. Like Digital Equipment and IBM, Kodak had the credentials, the organization and the resources to dominate an emerging new category, but not the foresight to recognize that a new category needs a new name.
One exception should be mentioned. In 1994, Bill Gates asked Richard Barton to develop a Microsoft CD-ROM idea involving travel guides. Barton convinced Gates that the CD-ROM idea would fail, but that an online travel agency might succeed. Furthermore, he persuaded Mr. Gates to give the project a different name than Microsoft. Richard Barton called Microsoft's online travel agency "Expedia." Seven years later Microsoft sold control of Expedia to USA Networks for an estimated $1.3 billion.
How Strong Is Your Brand? Do You Really Know? Do You Care? Would you like to take a simple test to see where your company's brand is now? Click on the link below:
http://www.brandidentityguru.com/bightml/brandmasterpiece.html then click on the button to the right that reads, "Take The Brand Strength Test". This is a very quick and easy way to see where you fall short in your marketing, advertising and branding efforts. It will also show you where you are strong. Take the test if you dare... you may be surprised at the results!
Scott White is President of Brand Identity Guru (http://www.brandidentityguru.com), a leading brand consulting and market research firm located in Easton, Massachusetts, USA, near Boston.
Brand Identity Guru specializes in creating corporate and product brands that increase sales, market share, customer loyalty, and brand valuation. Over the course of his 15-year branding career, Scott White has worked in a wide variety of industries: high-tech, manufacturing, computer hardware and software, telecommunications, banking, restaurants, fashion, healthcare, Internet, retail, and service businesses, as well as numerous non-profit organizations.
Brand Identity Guru clients include: Sun Life Financial, Coca Cola, HP, Sun, Nordstrom, American Federal Mortgage, Simon (America's largest shopping mall manager) and many others, including numerous emerging growth companies.
Scott White is a very enthusiastic speaker and has the gift of being able to explain the principles of branding in a compelling and entertaining manner so that people at all levels can understand.
Facebook Will Ban Some Businesses From Advertising...And Other Small Business Tech News This Week
Here are five things in technology that happened this past week and how they affect your business. Did you miss them? 1 — Facebook will now ban “bad” businesses from advertising. Facebook has announced the global rollout of a new policy that will now ...
Facebook tightens its policies on gun-related advertising
21, and advertisers will be required to restrict their audience when publishing an advertisement on the platform. "Unlike posts from friends or Pages, ads receive paid distribution. This means we have an even higher standard for what is allowed and why ...
New York Post
City has spent $44M on subway, bus advertising since 2014
New York Post
The city has spent nearly $44 million advertising on buses and subways since January 2014, records show. Health Department posters promoting safe sex and social services are responsible for $42.5 million in city contracts with Outfront Media, the firm ...
Building Indiana (press release) (blog)
The Legalities of Legal Advertising
Building Indiana (press release) (blog)
Did you know that at one point in history the marketing and advertising of your legal firm or law services was actually illegal? It took a Supreme Court ruling in the late 1970's to overturn that forgotten rule, but despite the reversal, there are ...
Cannes Lions bingo: The ad industry's top buzzwords in 2018
The Cannes Lions advertising conference—okay, fine, International Festival of Creativity—takes place this week on the French Riviera. Once again, Quartz is producing a special edition of our Daily Brief email for the festival, which runs from June 18-22.
It's festive time at Cannes again, Veterans Piyush and Prasoon Pandey to be honoured this year
Cannes awards entries fall by a fifth in watershed year
The Principles of Post-Advertising
The post-advertising world is not one without advertising, but one where our use of traditional ads and brands has peaked and a new model for growth is emerging. Five areas play a key role in shaping this change — lessons from the businesses ...
Unilever Presses Digital Influencers to Drop Bots, Fake Followers
Several big advertisers have begun to use influencers more often. Procter & Gamble, the U.S., consumer products giant that competes directly with Unilever, has started to work with more of them. “We are getting others to speak on our behalf,” P&G Chief ...
Unilever takes stand against digital media's fake followers
Unilever Needs Influencer Advertising and Advertising Business Clean Its Act
Look out, Facebook and Google: Amazon is becoming an ...
While much has been said about Amazon.com Inc.'s aggressive bets on brick-and-mortar retail, health care and many other industries, the company has quietly ...
What you need to know in advertising today - Business Insider
Until a few months ago, Marni Walden was Verizon's EVP and president of global media. And during her long run at the telecom giant, Walden helped steer ...
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