Maurice Saatchi has a piece in today’s FT titled “The strange death of modern advertising“. He observes that “At the age of only 50, advertising was cut down in its prime. Advertising holding companies used to boast about their share of the advertising market. Now they are proud of how much of their business is not in advertising. How did this happen?”
One of the reasons he cites is message clutter. This is something so many start-ups suffer from. And they are the very enterprises who can afford it least.
Each brand can only own one word. Each word can only be owned by one brand. Take great care before you pick your word. It is going to be the god of your brand.
Try this simple test on your own company’s products or services.
Pick a brand. Any brand.
Maurice offers a pragmatic solution – “one word equity”. I couldn’t agree more. “In this new business model, companies seek to build one word equity – to define the one characteristic they most want instantly associated with their brand around the world, and then own it. That is one-word equity.”
This act of distillation and focus should be a priority for every start-up. It will ultimately focus your efforts and marketing while building value for your shareholders.