Capitalize on your brand equity to gain market share

June 15, 2009 at 11:30 pm Leave a comment

Frank Sinatra had a Vegas-inspired song called “Luck Be A Lady.” One of the lines in the song is:

“Stick with me, baby, I’m the guy that you came in with.”

In many ways, marketing is like Lady Luck that ol’ Blue Eyes is singing about, especially when it comes to branding. This is one of the trickier subjects to explain to someone new to marketing. In a nutshell, branding is the sum total of experiences and perceptions that a company has with its customers, competitors, and marketplace. The tactical elements of marketing — websites, brochures, advertising, etc. — are physical manifestations of branding. There’s also something called brand equity, which is not only a perceived value of a brand, but it can also be a tangible value. In fact, many organizations carry their brand as an asset on their balance sheets, with an actual dollar amount attached to it. Google has the highest brand value in the world, which is estimated to be worth more than $100 Billion. Software giant Microsoft has the second highest rated brand in the world, worth over $76 Billion.

There’s a reason why I mention these two examples together. You’ve undoubtedly noticed the “Bing” logo at the top of the entry. You may also be asking yourself, “what the hell is Bing?” As it turns out, Bing is the newest incarnation of Microsoft’s search engine, renamed from Windows Live Search. In my opinion, Microsoft made a big mistake and squandered a golden opportunity. They took one of the most high-profile aspects of the Internet (search engines), went up against the 800-pound gorilla, and didn’t take advantage of the Microsoft brand equity. Even worse, when you go to the Bing home page, the Microsoft name is nowhere to be found, so they can’t springboard their new brand off the established Microsoft name. How can you realistically pit a $100 Billion brand against a brand with zero equity? Frankly, you can’t. Microsoft doomed Bing to the ash heap of history before it even launched, just like another one of their infamous failures. The rest is just an exercise in futility.

What’s the lesson here? The Microsoft branding team should have told the Bing team, “stick with me, baby, I’m the guy that you came in with.” The only thing left is a roll of the dice and the hope that Lady Luck is on their side. I wouldn’t bet on it.

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Entry filed under: Best Practices, Branding, Buzz Marketing, Leadership & Management, LinkedIn, Marketing, Messaging, Raising Awareness, Strategy, Technology & IT, Website, Word of Mouth Marketing. Tags: , , , , , , , , , , , , , , , , , , , , , , .

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