Barry Williams literally grew up in front of America as Greg Brady, the oldest of the Brady sons on the hit TV show The Brady Bunch. We sought him out to find out more about what it was like to grow up Brady, what brands can learn from a show that has never stopped airing and what opportunities exist with his iconic brand.
Today on Branding Strategy Insider, another question from the BSI Emailbag. Seth, a VP of Marketing from Seattle, Washington writes:
“Can you or your colleagues think of or recommend any good examples of branding and / or brand repositioning that I could share with our executive leadership team to help them understand in more concrete terms the branding initiative I’m trying to lead them through? It could be either:
A good example of a well-known brand that used to be positioned as X, and then changed their brand position to Y, with evidence of how they infused that new brand into everything they do? One example I’ve used before is Southwest Airlines, but I don’t really know their story, and can only cite one or two examples of evidence.
Even if the company didn’t reposition themselves, can you think of a good example where a company has infused their brand position into everything they do—their business decisions, their recruitment efforts, the products and services they offer, how they design their customer interactions and touch points, etc.?
Any thoughts you have would be welcome, as I really want to demonstrate the power of effective positioning and branding to our team to get them on board with this important work.”
Thank you for your question Seth. Marketers today have the distinction above all others in their organization of not only having to be successful practitioners of their craft, but excellent educators / defenders of the value of their work. I’m happy we can help you make your case. Here are some well-known examples:
Recently on Branding Strategy Insider, Mark Ritson wrote about the wild and concerning variances across different brand valuations. He suggested that despite the power and prestige of big valuation firms Interbrand, Millward Brown and Brand Finance, there was a possibility that much of what they do is unproven crap. Today we give David Haigh, CEO of Brand Finance an opportunity to respond.
Why Variation Supports the Need for Brand Valuation
“The suggestion that public brand valuations studies are ‘crap’ and worthless, simply because value opinions differ, is ill-informed nonsense. No one is surprised that valuation opinions for other assets vary widely, so why should brand valuers be expected to come to identical conclusions?
Compare this with share prices. Looking at Bloomberg today I find that 67 equity analysts follow Apple. The current Apple share price is $130. The lowest target price among analysts is $65 and the highest is $185. The 12 month consensus target price is $143. So there is a 300% high: low variance in valuation opinions. 66% say buy, 30% say hold and 4% say sell.
Brand Finance, Interbrand and Millward Brown all agree that Apple is the most valuable brand in the world. In 2014 Brand Finance valued the Apple brand at $104 billion. Interbrand said $119 billion. Millward Brown said $148 billion. That is a variance of only 42%, which is hardly surprising in my view. For other brands the variance may be much greater, but that is no surprise either.
“I never worry about action, but only inaction.” ~ Winston Churchill
There’s a simple, human reason why behaviors happen time and time again. We are creatures of habit and familiarity. It is much more comforting to keep hammering away at what we know than it is to stop, reappraise the problem and completely redesign the playbook.
Transformation isn’t about plotting a meeting point for your brand with the predicted future. It’s not about getting to where the puck will be, to paraphrase Wayne Gretzky. Because depending on the arrival of the next big thing or that breaking wave, that hot new trend, the long-awaited demographic or anything else for that matter is conjecture.