A Brand is Money
Author of ‘Buzzmarketing’ Mark Hughes, tells how a small start up company used the power of marketing to create a multi-million dollar brand in less than a year. The website half.com was an average site similar to ebay or Amazon. It didn’t create a revolutionary new concept nor did it provide a unique service it did however, generate national and international awareness by convincing the town of Halfway, Oregon to rename itself half.com putting the brand on the map, literally.
Its marketing strategy was to create a quirky story that would appeal to the press but also contribute to the branding of the product. With little advertising dollars their strategy had to provide the most amount of coverage for the least capital. The most important thing was to create a newsworthy story that the public immediately associated with the brand. After all there’s no use shooting gerbils from a cannon if you’re pedaling men’s underwear.
People may remember the stunt they won’t necessarily remember the brand. Half.com was able, through the renaming of the town (which set them back around $100 000) to receive free international coverage and create public awareness of the brand. Through Hughes use of ‘buzz marketing- getting people to talk about your stuff’ he was able to grow the pool of registered users from 0 to eight million in less than three years. Twenty days after their launch, ebay called. They sold the company within six months for $300 million.
Branding is money. Creating a brand needs creative marketing, ideas that set you aside from all others. It doesn’t take a lot of money it just takes guts and the determination to see it through. The rewards both financially and personally are well worth the effort.
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