“Luck? I don’t know anything about luck. I’ve never banked on it, and I’m afraid of people who do. Luck to me is something else: Hard work — and realizing what is opportunity and what isn’t.”
-Lucile Ball

You can’t avoid that these economic times are putting a lot of companies out of business. Here at Brand Iron, we have been constantly reminded of that; in the past 9 months, we’ve seen two, very local marketing companies close their doors.

We are happy to report that through a lot of hard work, our clients are going strong and Brand Iron is going strong. Everyone at Brand Iron is very excited that we are a finalist for the DMCC’s Small Business of the Year Award.

We wanted to pass on a few things that have helped us confront and dampen the economic blow:

• Build you database – broaden your world of potential clients
• Go to where the money is – focus on your most profitable vertical markets or geographic areas
• Keep your brand message relevant to your target market – adapt to their pain points
• Increase your sales and marketing activity levels – it is vital to “touch” your prospects

At Brand Iron, we don’t believe in luck – we believe in hard work, targeted work and working intelligently on the aspects of your brand strategy that make the biggest impact. Our goal is to help you keep your doors open, AND MORE IMPORTANTLY, to keep new clients and customers coming through them.

Please contact us today to learn more about how Brand Iron can help you develop a holistic brand plan that addresses your sales, marketing and operations.
Written by Josh Barker

I love reviewing Interbrand’s yearly list of the best global brands. I think it paints an accurate picture of what’s going on in the economy, how certain industries are affected, and how and why some companies have continued to thrive despite harsh conditions.

First off, the top 10 brands of 2008 were also the top 10 brands of 2007, with the exception of Google (who jumped from the 20th position to replace Mercedes Benz).

1. Coca-Cola
2. IBM
3. Microsoft
4. GE
5. Nokia
6. Toyota
7. intel
8. McDonald’s
9. Disney
10. Google

The complete list of the top 100 brands can be found here.
http://www.interbrand.com/best_global_brands.aspx

The credit market affects financial institutions differently
Citi and Merrill Lynch both fell significantly from 2007 to 2008 (22nd position to 34th position and 11th position to 19th position, respectively). However, Visa’s and American Express’ brand values rose due to their trusted brands. I believe this has a lot to do with how consumers see these companies. For the most part, consumers saw the credit market debacle as a fault of the lending institutions. Credit card companies were able to maintain brand value, not only through continued brand communication, but because of the physical relationship consumers have with their credit cards. What’s in your wallet right now? – Mastercard, Visa or American Express? We love to use credit cards and the convenience they give us.

Sustainability leads and valued brands
Companies that are on the forefront of sustainable initiatives held strong on Interbrand’s list. Honda was the only car manufacture to report better sales in June 2008, than it did last year. GE and BP increased their brand value over 2007 by investing in sustainable business practices. BP has invested heavily both in internal processes and direct consumer communication.

Companies that are delivering green products and sustainable business practices will continue to increase brand value in the future because that is what the market demands.

These are the two aspects that caught my eye when reviewing Interbrand’s Top 100 Global Brands. A couple points small and medium-size businesses we can learn from this are:

• Perception is reality. If people have an inaccurate perception of you – you must work to change your brand. For example, financial institutions like Merrill Lynch need to transcend the “financial lending” market and position themselves to better relate to consumers and to expand their value. Pro-active marketing to address head-on the brand challenges is a great way to fend off negative brand perceptions.
• What is good for the environment is good for your business. Innovative products and citizenship holds great value with consumers.

Now is the time to re-position your company so that your customers see the value in choosing you. Brand Iron can help you with brand positioning and communicating what you do. You have the power to influence the decisions your customers make. Make sure your brand is putting you in the best light possible and is creating a good and memorable customer experience.

Written by Josh Barker