Wednesday, 18 January 2012 02:29

FiG Year in Review: Branding

Do you remember when FiG discussed brand strategies in 2011? Branding themes continued to develop throughout the year because of their vast marketing implications, and we weren't the only ones talking. Netflix was a hot topic of conversation as they provided a great example of how quickly you can lose brand equity. Raising prices is one thing, but rebranding your DVD business as “Qwikster” only to backtrack on this decision moments later is only going to confuse your customers and hurt your brand.

Consumers develop feelings and opinions towards your brand because of your various marketing activities. When they hear your name on the radio, see it in a newspaper, or come across it from a web search they are forming a specific position towards your brand. Consistency in these marketing messages is what will ultimately solidify your brand's image in their minds. Inconsistency will only confuse consumers and eventually erode your brand equity as shown by Netflix or GM.

2011 was also the year for Burger King to incorporate a much needed rebranding effort. The King Mascot started out as a great Marketing ploy to generate some buzz with their target market, but should have ended shortly thereafter. BK mistakenly tried using the King as a long-term branding effort that landed them a steady decrease in sales while McDonald's and Wendy's showed increases. Burger King has undergone rebranding efforts to become more product oriented with their advertising similar to that of their competitors.

Not all brands missed the mark in 2011 as the world's leading coffee retailer redesigned their logo to lose the iconic Starbucks name. The change comes after 40 years of keeping their name in the logo, but they are not worrying about people missing the message. Companies like Nike, Apple, and Target have been doing this for years with significant success. This just marks the evolution of the Starbucks brand and further demonstrates how powerful branding can be if done properly.

Branding was a popular topic in 2011 because of its continued significance on marketing strategy. Twitter gave marketer's their new branded pages while Lands' End looked to further their brand awareness with the up-and-coming social media platform Pinterest.  As we look ahead to 2012, we don't expect to see any drop off in the importance and focus branding will be to your company. Improve your own brand awareness by contacting FiG Advertising and Marketing, your Denver brand agency.