All posts filed under: Business

Building a house and the cost of a weak brand strategy.

Quick post while I wait… Have you ever pondered about the true cost of doing things without a (good) brand strategy? In other words: execution without a brand strategy is “arbitary marketing”. This is an extremely expensive pasttime which leads to nowhere and nothing, and incurs huge opportunity costs. Here, let’s use a metaphor of building a house: -A brand strategy is like a blueprint to build your ideal house, right down to colour. If you don’t do things with a clear brand strategy, or with any form of brand strategy at all, then there will never be such house. All effort and hard work will be spent on nonsense because there is unclear direction, or a weak unique selling point. So why don’t people hire brand strategists from the start? Actually, I don’t know. It is silly and a great pity to not do that. And perhaps a greater sin is to not see the value of doing that, or to think that branding people are nonsense. Far from the truth, actually. You don’t …

[Book Review] The Thank You Economy, by Gary Vaynerchuck.

Today I’m also going to do a really short book review on The Thank You Economy by Gary Vaynerchuck. There’s actually an online copy here.:D This book kind of reminds me a little of Meatball Sundae by Seth Godin, another classic on the topic of new media marketing. What is a Thank you Economy? Gary Vee defines it this way: “We’re living in what I like to call the ‘Thank You Economy,’ because only the companies that can figure out how to mind their manners in a very old-fashioned way – and do it authentically – are going to have a prayer of competing.” The Thank You Economy is interesting because it points out that consumers had been sick and tired of being sold to in the traditional business model. With new media, businesses provide what consumers want, instead of having to convince consumers to buy. This of course has huge implications on the power of strong brands (= defined as brands with polarise the market). Therefore, if the business can deeply care about its consumers …