Our obsession with traffic has been so intense during the past 5 years that it has impeded our ability to understand the dynamics of doing business on the Internet. As thousands of companies focused their efforts on inflating log files, a select few (Google, Apple, Yahoo!, Amazon, etc...) have made investments in building strong brands. Today, these companies are stronger than ever, growing each day as the Internet population booms.
Notice that the list includes
only Internet or Technology companies. This illustrates the inherent
problem with branding. Too often, small and mid-sized companies
shy away from developing brands, thinking it remains the exclusive
domain of tech companies companies that have the means, staff,
and time to develop clever corporate communications programs.
The fact is that all companies should
invest their efforts in building strong brands because the interest
they pay over time can make a business successful, very successful.
Empires have been created on
powerful brands. Take the Virgin Group for example. The Virgin
brand name is so powerful that the company can easily grab 15
percent of any market it enters. That is powerful equity. (more)