Brands are important now, especially in a world where information overload is a big issue. A brand can perhaps best be encapsulated by an association which becomes so ingrained in consciousness that there is an automatic association which trumps the constant noise of competing pulls on our consciousness.
A classic example of a brand is perhaps google. For most people, when needing to find something online, we automatically think google. that’s a very strong brand.
Other businesses which aren’t so dominant as google use a variety of tactics. Something which the writer always enjoys is to play a game with his kids about who can name the brand first when a series of adverts comes on the tv. Clever marketing can include making the advert mysterious, almost completely unconnected with the product or service, making it memorable, or some music or a strapline.
What’s clear is that building a strong brand involves more than just having a great product or service. it takes a lot of time, money and skill.
Having got to the brand status, in today’s world, this can possibly be achieved much faster than in the past, but a brand can also be easily damaged in a “connected world”.
Recent research indicates that brand reputation is being put at risk by a cavalier approach to data protection. The Edelman Privacy Risk Index carried out a survey of 6,400 corporate privacy and security executives worldwide and found that nearly 60% consider that their employers do not consider privacy and protecting personal information as a priority and a similar percentage believe that their employers are slow responding to consumer and regulator complaints about privacy.
What’s interesting about this is that it maybe suggests that all the legislation about Data Protection, which has been around for a few years now but is almost unenforceable due to sheer scale and lack of resource, doesn’t matter nearly as much as the impact of a business being hit hard by reputational issues.
It does look like there is a trend starting for this – look at the adverse publicity this last week for Starbucks and a few other companies. This is brand damage, and you can be confident that brand damage is something which the biggest of companies will take seriously.
We’re not saying that laws aren’t necessary or important, what we are saying is that in the tech age, laws may not be as important as other methods of pulling businesses into line.
Fir advice on data protection or other business risk issues, Blackhawk Investigations can assist.