Blog

The Value of A Brand

By Peter Don, BPR

There is a lot written and discussed about the value of a brand.

In markets where there are few barriers to entry, or no regulations controlling how companies may enter a market new brands are invented daily.  A simple example might be coffee shops (cafes) which may open and close frequently and often from one day to the next.

At the other end of the scale are long-term high-value brands, examples like Coca-Cola, Apple, major airlines etc.

So, what part does a strong Brand, or Brand Name play in the success of a radio station?

In Radio some brands endure and continue to be successful because they have earned the trust of listeners over a long period through consistency, service and innovation, others come and go without much comment.

Good examples of “transportable” branding can be seen in many international radio markets – for example, Virgin, Radio Monte Carlo and NRJ (Energy) are all ‘owned’ brands that have been franchised for use in other markets.

Why would someone franchise a Radio Brand?

Radio, is now experiencing expansion of choice, Previously numbers of stations were limited by the number of available licences and frequencies. DAB, Satellite Radio and Internet streaming have opened up previously restricted radio markets. In this flood of choice, unless a new station is supported by a major marketing campaign, listeners are either unaware of their existence or only find them by chance.

That doesn’t sound like a good business strategy.

‘Known’ brands provide a shortcut to learning and awareness. In addition, strong brands can increase both listener and advertiser brands. A strong brand can leverage both listening and revenue demand. Brands also connect socially and emotionally and generate customer loyalty.

Strong brands create and enhance loyalty. This is a shortcut to both listening and business success – but this does not override the need for sound strategy and a great product.

There are benefits and pitfalls in branding – good brands take years to build and can also be lost relatively quickly. Great brands generate significant Brand Value. At a time when media is changing quickly strong brands can survive.

At BPR we work with many successful media brands, We’d love to show you how this can work for you.