Brand is the promise of a relationship – Talk Marketing 036 – Barnaby Wynter
Brand is the promise of a relationship – Talk Marketing 036 – Barnaby Wynter
00:00 Introductions 06:58 How do you define brand and what is your approach to brand? 12:43 How does brand relate to the the market, to people who aren’t yet your customers? 21:55 At what point should businesses be thinking abut developing a brand for themselves? 29:50 What is the difference between brand and branding? 34:28 What is the fraud of the broadcast marketing industry? 39:08 What is psychographic profiling and why is it important? 57:03 What is the difficulty of selling beyond your limits? 1:01:03 What is a brand property and why should we be focussed on making our brand property famous? 1:12:42 How do you generate purchases from test drives? 1:20:52 What is your objection to the finding, winning and keeping customers profitably definition of marketing? 1:35:26 What is the power of inbound sales? 1:44:51 If you are motivating people to spend less does that mean that mean that this is environmentally friendly marketing? 2:02:11 What is the point of running your own business? Martin Henley 6:11 We did the state of the marketing thing previously and I’m really interested to dig in more to what it is that you do, and how you do it for people. This whole exercise is about giving people stuff that will help them to be more successful. So we’ll need to go back a little bit because some people might not have seen the first video. Your business is called The Brand Bucket. I know that there is a process that you’ve put together and I know that you’re a huge believer in brand. Maybe, for the sake of people who haven’t seen the first one of these, maybe you can give us a sense of what your definition of brand is and what your approach to brand is? Barnaby Wynter Yeah, great. I think it’s great, exactly the right place to start Martin to be fair. In 1999, I became the youngest MD of top 200 Agency, as you said in the introduction, and that was an agency that had at its heart, The Brand Bucket as a methodology. My first board meeting I walked in, I said, Okay, guys, I kind of understand what a bucket is, it’s pretty self evident what a bucket is, what’s, what’s a brand. That day, we had over 148 person years of experiences around the board table, creating very famous brands, from SO, to AA, to Carlsberg to, you know, FedEx all those sorts of brands had gone through The Brand Bucket process. We spent about 15 minutes filling six sheets of a1 flip chart paper with what we thought brand was. This is a question I’ve asked many 1000s of Marketing Directors ever since and one of the one of the big first things we need to get clear, is the difference between brand and branding. A lot of agencies muddle up the word branding, or they mix branding and brand simultaneously, all of the time. The concern that you would have is that it means they fundamentally don’t understand what a brand is, because branding emanates from where it comes from, you know, using a branding iron to brand a cow so you knew it belonged to somebody, even though it was running wild in the wilderness. Barnaby Wynter What actually branding is, is your logo, your look and feel, might be some tonality, all that sort of thing might be some kind of image dimensions to it. It is essentially the clothing that a business wears and is very, very distinctively different, if not a tiny part of what a brand is. A brand is much more meaningful than that. So once we’d identified as a as an agency that we didn’t really understand what the word brand was even in the term Brand Bucket, we embarked on a three and a half month journey to come up with a definition of brand. You’ll see I’m pretty well read, all the books behind me I read I think at the time, I had something like 60 books with the word brand in the title. And if you pick up a book with the brand in the title, you’ll find they won’t have define brand in there. It has a different spin. And this really confuses business owners because they don’t know what what they’re buying anymore. So we came up with a definition in 1999. And the definition we came up with and this is our definition of brand is it is every experience that affects the relationship between a product or service and its buyer. So let me just explain that in more detail. The first thing you need to understand is a brand a true brand can only exist in the mind of a buyer is somebody who’s given up the one single currency that they have available to them, which is time. Now time also manifest itself in the form of money. For most organisations, the money has to be earned and time has to be expended in order to earn the money. Unless you’re independently wealthy, most people on some kind of salary, some kind of income from, from their work giving up their time, their lifetime, which kind of relates back to the, the relationship with 220 million years fossils. So actually time is your key asset, and you convert that into money and then use that to transfer.
Martin Henley
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