Value Added? Does it Diminish a Brands Value?
Unless you’re clear in what value you have to offer, you have a nugatory brand. That’s true of personal branding, corporate branding, political branding, and whatever other type of branding ‘in vogue’ we’d like to indulge.
1. Of no real value; trifling; worthless
The first thing “value add” implies is a baseline value. To be successful a product or service must be of value on its own. It has to be able to stand all by itself.
All businesses & consumers look at purchases from a cost/benefit analysis. Does the benefit equal or outweigh the cost?
PR is not mutually exclusive
In our industry so many advertisers believe that PR is mutually exclusive. I couldn’t disagree more. Here’s how. A buyer’s decision in terms of which magazine(s) to advertise in, is contingent upon the publications readership, distribution, circulation, and its vertical position within that particular space. The decision is not based upon the premise that they may get free content. Furthermore, print and online publications promote themselves and have a rather robust following. Content should not be a value added component to any advertising package. There are plenty of other ways to increase the package by off-setting its cost.
Examples of complementary products or services are:
- Free online advertising with a print package
- Free co-branded micro-site
- Free creative (new ad for each month or season)
- Free email campaign to publications subscriber list
Examples of non-complementary products or services are:
- A Resource Toolbox – filled with information on organizations you know well that offer a variety of products and services.
- Gift Cards – to a restaurant or store; not your company.
- Quarterly Seminar Series – seminars on a variety of subjects that don’t piggyback your business.
Leveraging Brand Equity…Who Benefits?
I often hear buyers say that the intended use of third party content is for marketing collateral. Partially true. I’d venture to say that the intended use is to move more product, gear, metal, etc.
Leveraging a third party’s brand equity to pump the advertisers/OEM’s brand equity is not mutually beneficial. They make money from the publisher’s third party endorsement while cutting the publisher out of the equation.
At Wright’s, we’re committed to monetizing our publishers brand. The entire brand, not just reprints. It is this commitment that has afforded us the ability to unearth new revenue streams for our clients in the publishing world.