There is no doubt that advertising goes a long way in differentiating one company from another in the eyes of the consumer. In an ideal world, consumers’ decisions would be made strictly on aspects like quality and pricing, but that is not the world we live in. Through all of the advertising and marketing companies do, they create a brand, that brand tells a story.
Every year brand valuation consultancy Brand Finance announces its Global 500 study. It determines which brands are the most powerful as well as the most valuable.
According to Promotional Products Association International (PPAI), Ferrari was named the world’s most powerful brand in 2014. Surprised?
Brand Finance Chief Executive David Haigh explains: “The prancing horse on a yellow badge is instantly recognizable the world over, even where paved roads have yet to reach. In its home country and among its many admirers worldwide, Ferrari inspires more than just brand loyalty, more of a cultish, even quasi-religious devotion; its brand power is indisputable.”
Ferrari does not try to appeal to everyone. It brands itself as “cool” and high-quality. It creates an image that tells people, “Not everyone can own Ferrari.” Ferrari is therefore a brand that is recognized and respected even by those that will never own its products.
Other brands in the top 10 of Brand Finance’s list include Google, Coca-Cola, Disney, Rolex, Red Bull and Apple. There is not much that these companies have in common. What they do have in common is that they knew how to speak to their target audience.
How does all this relate to promotional products? Stress balls and tote bags are two of the most popular categories of promotional products available. However, that doesn’t mean they are the best fit for the project you are working on.
For example, if you are an auto mechanic in the Northeast, you might want to give away an ice scraper. However, if you are an auto mechanic in Florida, you’d be better off choosing a sun shade!
The point is this: When you have the opportunity to put your brand in your consumers’ hands, make sure you are doing it right. You only get so many chances to communicate your message to your target audience. Tell the story you want to tell by enlisting the help of a Motivators promotional consultant. To get in touch, dial 800-525-9600 or chat with us live online!