As technology and globalised business models continue to deliver efficiencies and new opportunities, every sector will face disruptive pricing that in effect re-costs what the market would otherwise pay. Many of those movements will naturally be downward; others will lift the entry point. Amazon has effectively reframed the cost of books; Samsung and others are resetting the cost of owning a tablet; Tesla has redefined what an electric car is and also the cost of owning one.
In economics, signalling focuses on the ability of one party to effectively convey information about itself to another party. That was relatively easy pre-Internet. Brands simply pushed claims into the marketplace through a range of set-play media actions and waited for consumers to react. The ability of a signal to reach an audience rested almost entirely on the message itself and the media budget.
I was first introduced to Tom Asacker a number of years ago when he and I were on the same contributor panel and I’ve always been taken by four qualities that come out time and again in his work: his call-it-the-way-it-is approach; his extraordinary ability to condense whole systems to meme-length summaries; his relentless search for new form; and above all his humanity and clarity.
We’re all tempted to do it at some stage: to overstate the advantages; to push the benefits of what is on offer past the point of credibility; to state that what we are doing or offering is better than what others are offering, but with no substantiation for that belief.
At a time when communication is increasingly hailed as shorter and more visual, the way brands choose and use language (the verbal brand) continues to hugely influence a plethora of channels, from social media to search engines to advertising, public relations, website content, direct marketing and more.
Pitch a new brand identity system to almost any large company with multiple divisions and inevitably someone will plead to be an exception to the new rules. This is particularly true where brands or divisions have had their own identity in the past. Attempts to consolidate a myriad of “brands” into a consistent brand identity system or to replace a whole portfolio of marques with a single power brand will be met with varying volumes of indignation.