Making Your Brand Famous Should Be Your Number One Goal

In the ever-evolving landscape of marketing, one strategy stands out as a key driver of success: making your brand famous. While this might seem like a simple concept, it is backed by extensive research, including findings from the Ehrenberg-Bass Institute, shedding light on the intricacies and importance of brand fame in driving profitability and market share.

At Awfully Good Media, we pride ourselves on our commitment to research-backed strategies, and the insights from Ehrenberg-Bass further solidify the legitimacy and authority of our approach in the marketing realm.

Understanding the Research

According to Byron Sharp, Director of the Ehrenberg-Bass Institute, market share is intricately linked to penetration – the act of selling to more people. In essence, brands grow by reaching new customers, with the primary focus of marketing communications being to increase penetration and acquire new customers.

Contrary to popular belief, brand loyalty takes a back seat to penetration. High penetration rates often lead to better loyalty, highlighting what Sharp refers to as "The Law of Double Jeopardy." This law underscores the importance of reaching a broad audience and acquiring new customers as the primary drivers of growth.

The Myth of Market Segmentation

Sharp's research challenges the notion of extensive market segmentation, suggesting that successful brands talk to all buyers within a category. Rather than narrowing their focus to niche demographics, thriving brands engage both existing customers and non-customers, aiming to increase both penetration and loyalty.

The Role of Mental Availability

Central to the concept of brand fame is the notion of "mental availability." Human decision-making is largely influenced by mental shortcuts or heuristics, with the Availability Heuristic playing a significant role. This heuristic suggests that people tend to prefer options that come to mind most easily, emphasizing the importance of strengthening mental availability in marketing efforts. More simply put, the brand that comes to mind first (or is easiest to remember) gets bought.

While mental availability is often associated with consumer-focused marketing, its relevance extends to the realm of B2B marketing as well. The iconic IBM campaign from the 1970s exemplifies how emotional appeals can build mental availability, even in a supposedly rational business environment. What market research has shown is that mental availability is just as important in B2B as it is in B2C.

The chart below lists four common campaign goals in marketing, and demonstrates that advertising designed to make a brand more famous outperforms all other objective types. See the figure below [Source: IPA Databank, 1998-2018 B2B cases].

Implications for Business Owners

For business owners, the implications of this research are profound. Rather than solely focusing on niche markets or existing customers, prioritizing brand fame through broad-reaching marketing efforts can yield significant results. Maximizing mental availability through emotionally resonant campaigns can elevate a brand's stature and drive business outcomes.

The Power of Video Content in Building Brand Fame

In the digital age, where attention spans are fleeting and visual content reigns supreme, video emerges as a potent tool in making brands famous. Research consistently shows that video content captivates audiences like no other medium, offering a dynamic platform to convey brand messages and evoke emotions effectively. Whether it's a compelling storytelling narrative or an immersive brand experience, video content has the unique ability to leave a lasting impression on viewers, increasing both brand recall and mental availability.

At Awfully Good Media, we recognize the unparalleled potential of video content in driving brand fame. Through visually engaging storytelling, we help businesses connect with their target audience on a deeper level, fostering genuine connections that transcend mere transactions. By harnessing the power of video, brands can carve out a distinctive identity in a crowded marketplace, positioning themselves as industry leaders and capturing the hearts and minds of consumers.

Incorporating video into your marketing strategy isn't just about following trends; it's about leveraging a proven tool to elevate your brand and achieve tangible results. Whether it's through captivating product demonstrations, behind-the-scenes glimpses, or impactful brand stories, video content offers endless possibilities for brands to shine and stand out in today's competitive landscape. As you strive to make your brand famous, consider the transformative impact that video content can have on your marketing efforts, propelling your brand to new heights of success and recognition.

Conclusion

In a landscape inundated with marketing strategies and tactics, the power of making your brand famous cannot be overstated. Backed by research from the Ehrenberg-Bass Institute, the importance of penetration, loyalty, and mental availability in driving business success is evident.

At Awfully Good Media, we stand by the principles of data-driven marketing, leveraging insights to craft strategies that elevate brands and drive results. By prioritizing brand fame and mental availability, businesses can position themselves for long-term growth and success in an increasingly competitive market.

By embracing these principles, business owners can unlock the full potential of their brands, solidifying their presence in the minds of consumers and driving sustainable growth.