by Randall CraigFiled in: Blog, Branding, Make It Happen Tipsheet, MarketingTagged as: Advertising, Branding, Marketing
Beyond ads, media mentions, and the web, is there another mechanism to build your organization’s brand? One that might cost significantly less, yet yield powerful positioning advantages?
Brand Transfer is the “borrowing” of another organization’s brand to better convey – or even amplify – your own. Consider the following examples:
Each of these large companies has invested millions building their brands. And the brands – what the companies represent – are broadly known in the market. While it is easy to think of Brand Transfer almost like an unauthorized theft of their reputation, nothing could be further than the truth. Brand Transfer is similar to a rental transaction: You pay JW Marriott for their conference center and hotel rooms, and they encourage you to use their name. In fact, they employ a sophisticated sales team precisely to make sure that you choose their facility – their brand – over others. And since their brand has more value than Travelodge, it costs more. It has value, and you’re willing to pay.
Interestingly, Brand Transfer works at the individual level as well. Answer these questions (there are no wrong answers):
Brand Transfer can also be a problem. Over time, a partner’s brand can veer in a different direction… tugging yours with it. Or, you can simply grow out of it. This week, evaluate your Brand Transfers. Extinguish those that do more harm than good, and look for new partnerships that provide a positive boost.
Insight: The best strategic partnerships are those where there is Brand Transfer in both directions, not just one.
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