Monday, February 08, 2010

Brand equity and brand story

I am currently readin the fascinating Christian Salmon's book named Storytelling. He explains the art of storytelling and how important it is in nowadays societies. Hence, storytelling is the art of creating a story around a topic, in order to help making it better, and therefore to sell it.

What is interesting, is that the author considers it is no longer enough to own a great brand equity, built on powerful advertising campaigns and great marketing budgets. What really matter, even more than the brand by itself, is the story associated with.

This is the reason why for example Apple is not the most proefficient company in term of TV advertising. It just has created a myth, a story about Apple and Apple's users, that makes it way different than Microsoft. As Apple has since the beginning inforced its image with this story, of excellence, of innovation, and of a niche market, they have been able to take a great advantage upon Microsoft.

Therefore, while managing a brand, you can no longer rely on a great baseline, nor on a powerful logo to expose the brand, you need to build and tell a comprehensive story that vehicles dream and how great your brand is.

I have just started the book, but I will probably gives you insight along the way, as the topic fascinates me.