What do Chris Kamara and Aleksandr the Meerkat have in common? They can both be described as distinctive brand assets - an image, a sound or an association that enables easy recall of a brand.
Aleksandr (the Meerkat) is a distinctive brand asset for Compare the Market, a brand operating in a low involvement category, whilst Chris Kamara currently appears in the advertising content for Ladbrokes.
In general, when choosing any products or services, consumers are most likely to take the ‘easy option’ and choose brands that are present, available and memorable. Insurance is an industry for whom brand assets are key, as this category is primarily engaged with annually. So, when that time comes to decide on whether to renew, people’s mental shortcuts will likely revert to Meerkats, a nodding dog or Winston Wolfe, drawing them to a specific brand.
With betting, we choose brands under similar circumstances; those that are the most salient - available and present. But for the non-gambling enthusiast, and the less discerning eye, it can be difficult to remember the betting brand being advertised. This difficulty is exacerbated by similarities in name, visual identity and branding or communication style. There are also very few brand assets that spring to mind in the gambling world – Ray Winstone of Bet365 fame, and arguably the brand colours for Ladbrokes and Paddy Power.
So, for the occasional gambler or the annual flutter on the Grand National it is difficult to remember exactly who is who, reducing any potential brand loyalty and customer retention. This leaves consumers and your potential customers to simply visit whatever is the most convenient - such as the first shop they see on the high street, or the top result in a Google search.
This presents a real opportunity for any bookmaker to steal a significant march on the competition by creating strong distinctive assets that give the brand a significantly stronger presence in the category, helping capture a greater share of the market and ultimately ensuring customers return to you.
At Ipsos Connect we can help you make your brand stand out against the competition by measuring the strength and potential impact that your distinctive assets might have. We have significant experience in the gambling and gaming sector, researching what helps makes a brand stand out and grow against the competition. Contact Jonathan Gingold for further info.