Friday 7 October 2011

How to build a brand like u2



 About a month ago or so now I went along to one of the U2 concerts, part of The U2 360° Tour. I am not a die-hard fan, like many who were there, but a friend had spare tickets so I went along. The support band, The Script, were very good and gave a good performance, however they were the aperitif and not the main attraction. When U2 came on stage, Bono praised them and their musical talent, stage presence etc. Then he said, ‘…unlike us, we set up the band first and then learned to play.’
It occurred to me that this could apply to anything you want to do in marketing, business or life. You too could live the dream. Try it, practice it, change it, experiment.
The main thing I recognised about U2 is that they had a clear vision; everything else was just a road/path that led them to the vision.
I once read of an interview with Bono where he’s been asked by a journalist about what U2’s mission was. Having pondered for a few moments, Bono replied ‘Not to be crap.’
An FT journalist, whose name escapes me now, wrote an article on mission statements and what they mean having had a very poor experience with a car rental company, who shall remain nameless. In the article he compared the lofty mission statement of the car rental company with the statement Bono had made about U2’s. Which one was more authentic, believable, and credible?
Back at the concert Bono thanked everyone: the event company, management, the fans for, as he put it, ‘Building their dream’. What struck me most about the above was not only the vision and drive of U2 as a band, but that without loyal fans it would never have come about.
U2 spent years building up a loyal fan base and gave them what they wanted, which it seems to me is not just the music, but an emotional connection, an identity of sorts. Some of the fans travel to all, or as many of the concerts as they can, on the same tour. I am amazed. Some fans drove from Slovenia to Berlin, on to Amsterdam and then to Dublin to go to all the concerts. I have met several fans of Bruce Springsteen who do the same, but I wondered about what inspires such loyalty, such persistence?
So it struck me that I could attempt to chart how you can go about building a brand like U2 yourself.
To my mind it is the following:
1. Have a strong vision/dream/destination
2. Come up with a strategy to get you there (to position yourself on the path)
3. Build a team of like-minded people who support your vision. Don’t go it alone. (these can be colleagues, mentors, customers AKA fans)
4. Have a set of tactics to implement (which is the journey itself) – these can change, keep trying to see what works
Bonus Tips to Get You There
1. Entertain no doubts
2. It is going to happen
3. It is happening
4. Practice, practice, practice


TIPS TO MAKE A STRONG BRAND!

TACTIC 1: VISUAL IDENTITY

The footprint of a brand—your corporate identity, graphic system, or visual voice—can take your brand many good places. It can also head you straight into a wall if it does not accurately project what the brand is and consistently stick to the story.

TACTIC 2: ADVERTISING

Advertising can be used to generate leads, sell product, advocate beliefs, persuade, calm unrest, and build brands. Advertising is the act of paying to showcase a message, and more. Advertising gives the brand builder a high-speed lane to the market. On the other hand, it is not immune to falling trees, lightning, bad weather, careless drivers, or an occasional competitor with wings. Smart advertising can fertilize the brand soil and aid in the brand’s growth.


Artists throughout the world are branding themselves and attaching their names to products being sold worldwide. for example P Diddy, Jay Z and 50 Cent are three of the most successful rappers at this. They've all found themselves on the Forbes Rich List after developing fashion labels - Sean Jean, Roc A Wear and G Unit Clothing. 

P Diddy is behind one of the biggest selling fragrances in the US, Jay Z has stakes in a basketball team and nightclub chain and 50 Cent sold his Vitamin Water brand for a reported $400 million. 

EXAMPLES OF STRONG BRANDS.
Taking 50 cent for example, he is apart of the worlds largest brands in music and other branches of production; G-Unit. G-Unit Records is an American record label, specializing in hip hop music, founded in 2003 by rapper 50 Cent and his manager Sha Money XL. But as G-Unit became larger and broadened their name throughout the world they started to branch into other markets such as clothing. 


The "G-Unit Clothing Company" was established in 2003, when 50 Cent teamed up with Marc Ecko (the founder of Eckō Unlimited), to create a line of clothing and accessories inspired by 50 Cent and fellow members of G-Unit.


Now G-Unit is one of the household names in music and clothing.



HOW TO CREATE A STRONG BRAND!


Firstly it is important to establish a brand image with your potential consumers, as this will be their perception of your brand. 


Then you will think about increasing your brand awareness, as this is how people will recognise that the brands yours and can identify it under different conditions. Brand awareness consists of both brand recognition, which is the ability of consumers to confirm that they have previously been exposed to your brand, and brand recall, which reflects the ability of consumers to name your brand when given the product category, category need, or some other similar cue.

I believe strongly that public relations is the way a strong brand is truly established and advertising is how the brand is maintained e.g. a band could hand out flyers and put posters up around the city to make people aware of your band, they could also have a PR team to hand out tickets to their gigs. If a brand is successful in making a connection with people and communicating its distinct advantage, people will want to tell others about it and word-of-mouth advertising will develop naturally, which could lead to your band getting published in the local magazine or newspaper or various other mediums, this will help massively with the recognition of your brand. Once that type of differentiation is established in the markets mind, advertising can help maintain and shape the brand, for example regular updates on radio stations or music websites. Branding is all about creating singular distinction, strategic awareness, and differentiation in the mind of the target market--not just awareness. When you have been successful, you will start building equity for your brand.

No comments:

Post a Comment