In 2019, advertising spend in the US is set to peak at a staggering $199.22 billion - exceeding 2018’s predicted $194.6 billion. With more and more available channels to reach target audiences (and their subsequent competition and noise) brand investment in fighting for the consumer’s attention is higher than ever.
According to Harvard Business Review, “somewhere between 70-90% of mergers and acquisitions result in failure”- a troubling statistic when you realize that 2018 was a record-breaking year for the world of mergers and acquisitions.
Being an insurance company in today’s market isn’t easy. Those operating in one of the most highly regulated industries know all too well that buying insurance doesn’t usually excite the consumer. You don’t find people talking about choosing insurance providers in the same way they deliberate over buying a Google Pixel or iPhone X. Skepticism, indifference and distrust have traditionally been much more likely consumer attitudes towards insurance companies.
When you take a look at the top 5 ‘most valuable brands of 2018’ - Amazon, Apple, Google, Samsung Group and Facebook, immediately their logos can be vividly recalled in your mind - from the black Amazon wordmark underlined with its yellow “smile” to Facebook’s blue ‘f’. If placed next to each other, it’s highly likely that you’d be able to distinguish between Samsung’s ‘SamsungOne’ font and Google’s Sans-serif typeface. An Apple advert whether online or on a billboard is always distinctly an Apple production.
Uber is no stranger to making headlines, and in September this year, the industry disruptor experienced a new source of controversy - its logo. Designed by Wolff Olins, the new logo deeply divided critics. Some found its simplicity and switch to the new bespoke font ‘Uber Move’ a friendlier design which reflected the app’s global, modern positioning. Others voiced criticisms ranging from underwhelming to a total design catastrophe.
Our new industry branding series looks at how businesses are using their brand to gain market-share, competitive edge, credibility and profit in their sector. So far, we’ve focused on how companies in the legal and financial sectors, have served up best in class lessons for businesses looking to benefit from cultivating a strong brand. Next up, we take on branding for professional services.
Any business looking to stay fresh and relevant will eventually need to consider a rebrand or brand refresh. Maybe you want to attract a new target audience, remain competitive as new players enter the market, or change the way people think about your product or service.