The Value of a Brand

There I was sitting at the presentation room observing the discussions between two "big" companies. The one, a very well known FMCG brand. The other, an eager service provider hungry to sign a new contract.

Everything was going well, the client liked the proposal but then started discussing a point that was missed on purpose during the presentation. The buyer (big FMCG brand) was asking for a sign-on bonus from the supplier. The reason behind it? Their brand is so big and so valuable that just mentioning the supplier's name in the press release would have an impact on their reputation and share price.

That's how valuable a brand name can be. It can affect not only your future but also the future of the people you work with. Investing on your brand is a wise choice and something that lately even affects the financial value of a company.

Posted by Harry Mylonadis 

Could This be the Future for Brand Consulting?

This article by Co.Design came to verify some of the thinking I've been having the past few years. We, at minimoko, have been supporters of collaboration from the beginning since it allows us to be more involved in a project and create better relationships.

We have also tried (although it hasn't happened yet) to push for a way of working that is different to the traditional consulting model. We know that building a relationship and involving a designer and/or brand builder in the core team is essential to the success of a project. So it makes sense to work for equity instead of working for a fixed fee. The way Fuseproject has achieved this is definitely the way for the future. And it's something that we are pushing to get done in the near future.

The way things are done is changing and sticking to the traditional business models will eventually get us into trouble. We need to welcome change and find ways to provide the best value, while also getting the most out of any project.

Posted by Harry Mylonadis 

Reaching Out

I always want to create the best and most helpful content for you, so I've decided to reach out and ask for your help and suggestions.

I will be starting a complete guide to branding and I want to know what you want me to cover. It will be our way of helping everyone and really showing what branding can do for you. We will start from the fundamentals of branding and move on to how you can work on creating a stronger and memorabe brand.

If you have any ideas, suggestions or comments, then send me a line to harry [at] minimoko [dot] com.

Posted by Harry Mylonadis 

What Does Your Gut Think?

You and your team are the most valuable assets of your brand. Even though you need to do a lot of research, testing and work, you need to remember to listen to your gut feelings.

Your gut is what will keep you passionate and in love with your brand. If that passion dies then you will be in trouble. People want to buy from you and what you represent, they don't care if you have followed all the rules and guides. They want to be able to connect with you and understand what you stand for.

Build your brand and listen to your gut, it knows what's right for you. If people are opposing to your views and ideas, then maybe you are speaking to the wrong people. Make sure that you love what you do and find the people that are like you.

Posted by Harry Mylonadis 

Support Your Decision - Revisited

Around a month ago, I wrote about how you need to support your decisions, especially when they have to do with your brand.

Similarly to how Gap reacted to everyone's reaction when they tried to change their logo, HP has now stepped back and won't be changing their logo. To be fair, they never made an official announcement about the change. With everything moving so fast though, just an indication from the brand agency they we working with was enough to set everything on fire.

This supports what I talked about a month ago. When you want to make an important change to your brand, take your time and when you decide what the change will be support it. Your brand is not just your logo, it's a sum of all the parts and everyone that is involved with it brings it to life.

Posted by Harry Mylonadis 

Sleep on it

A few days ago I was looking at this infographic, outlining the biggest logo re-designs of 2011. 2011 was a big year for re-design. A lot of brands changed their iconic logos and that created a ripple effect.

Suddenly everyone started reviewing what their logo looks like and considering if they should also change. Hey, if They are doing it, why are we sticking with our old, memorable logo? My advice on this would be to sleep on it. From the infographic there are a few logos that stand out as rush jobs. Changing meaning and values to something new just for the sake of it.

Take NBCUniversal for example. The old logo wasn't perfect (I generally support that brands should be created with separate identities and images, instead of merging the existing ones) but it reflected its history and values. The new logo doesn't say much and I would just call it ...different.

Some of the others have done a fantastic job revamping their old image and adapting it to the "new way of things", making them look fresh and up-to-date.

If you decide to go down the route of re-designing your image and logo, then don't take it lightly. You need to invest a lot of time, stick to what you stand for and make sure that you don't damage the image you have already built.

Posted by Harry Mylonadis 

It's About The Experience

You're not selling products and services. You're selling experiences. Whatever it is that you are selling, your customers are looking to buy something in order to change some part of their lives.

You might be promising to make their work lives easier, their dry cleaning faster, their food tastier or their diet healthier. What matters is what experience they get by buying from you. You need to identify how your product or service will make them feel, and deliver on that.

On my recent project CPU Wars, some people thought I was creating a new card game with CPUs. I wasn't. What I created is something that geeks can use in their downtime to have some fun and share a laugh. It's not for card gamers and it's not necessarily for gamers. It's a fun experience only for geeks.

Find the experience and always deliver on it. If you make it enjoyable, people will follow and bring their friends.

Posted by Harry Mylonadis 

Love at First Sight

Your heart starts beating faster, you start sweating, your pupils dillate, you feel a bit euphoric. Love is in the air and you want to give in. The expectation has been built and when you finally meet, you fall in love.

I'm not talking about love between people, but love for a product or service. This is what a brand does. It sets the stage, it builds the expectation and when you finally meet you have to give in. You want this euphoria to last forever, you know how better your life will get. You give in and you buy, and everything becomes better.

Build your product so it delivers what it promises, and build a brand so people can fall in love with it.

Posted by Harry Mylonadis 

Credibility

Trust is the most important building block for your brand. To be credible, people need to trust you. If they trust you they will continue coming back for your products and services.

That's what sets big brands apart from the rest. They have built credibility around their promise and when someone is faced with a choice they will go with the brand that they know and trust.

In order to build credibility you can do the following:

• Deliver on your promise. You've decided what you stand for, now you need to deliver on that promise.
• Follow up. Whether it's a compliment, a complaint or a question, always follow up.
• Provide an amazing and unique experience. Go the extra mile to give your customers an experience they will never forget and start talking about.
• Show your credentials. Feature testimonials, press mentions, awards so that people can find out about them.
• Be open and share your knowledge. Start a blog, newsletter or any other way to share your knowledge.

Do the above and you will be credible and trustworthy.

Posted by Harry Mylonadis 

Make Your Mind Up

There's nothing worse than inconsistent communication, identity and image. And usually these three go together. At the point that your customer is starting to take a liking at you, the worst thing to do is change the way you "talk" to them.

Yet this happens all the time and by big brands as well. By "talk" I don't mean only the language that you use. We are aware of brands by describing their image and identity to ourselves, even if that "talking" happens at a subconscious level.

So why use two different logos? Two different stories? A different experience at different entry points or locations? You need to adapt to your market while keeping the core of you brand unique and consistent.

Focus, be consistent and eliminate confusion and the fluff. And because this post was inspired by the mis-doings of a fashion brand, if you have two/three logos please pick one!

Posted by Helen Amygdalaki // Lelou