Capitalising on history

Brand building communications programmes should utilise and focus on communicating key milestones that demonstrate the company's success in its defined market. Utilising these significant landmarks in one's marketing plan results in revitalising brand identity and providing a return on investment.

The Standard & Poor (S&P) index of 90 major US companies was created in the 1920's. The companies on the first list stayed there for an average of 65 years. By 1998, the average anticipated tenure of a company on the expanded S&P 500 index, was 10 years. This statistic shows how valuable the sustainability of a company is and how this creates a wealth of opportunity for marketing those businesses that survive the average tenure of a company.

The greatest challenge for organisations is to build strong brands and remain a powerful player in an increasingly competitive market. Having a solid brand and sound history is an opportunity for marketing strategies that should not be overlooked. Celebrating company milestones does not only offer the opportunity for publicity but it reinforces and reinstates the brand value. Companies that have survived a century have shown the ability to adapt to an evolving market and show foresight in keeping ahead of new consumer needs.

Many companies have picked up on the trend of using successful company milestones to launch a communications campaign to strengthen their brand identity. National Brands is one such company and 2003 saw them celebrating 21 years of supporting cricket development with their Bakers Mini Cricket sponsorship programme. Bakers Biscuits used this milestone as a communications and marketing opportunity and the success has been twofold. This sponsorship, while fulfilling the role of social investment, has also reached untapped markets in their association with Bakers Mini Cricket.

Company milestones must, however, hold significant weight in terms of credible media mileage. The stronger the sustainability, the more powerful the marketing angle can prove. A company celebrating 100 years in existence will have the means for a more significant marketing campaign than a company celebrating five years. Bradlows, who are celebrating their 100th Birthday in 2003, have used this opportunity to portray how they have been a successful and trusted brand and even today, 100 years later, they are still thriving in a competitive marketplace.

Announcing annual results or launching a new product or service is undoubtedly newsworthy and may attract a new customer base. However, a company which has reached a significant milestone, has already built a competitive advantage in the form of loyal customers and the legacy of a secure brand. Mrs Ball's Chutney, Ouma Rusks and Pick 'n Pay are a few companies that have experienced success due to adaptation, as well as an established heritage that enables their brand to grow from strength to strength in a multi-cultural market, to become truly South African icons.

A sustainable brand, at least in part, concerns how long a company will be viable and profitable in the marketplace. The success of a brand relies heavily on the effective and continuous marketing and communications strategies used. In order to get the maximum "bang for your buck", no marketing opportunity should be overlooked and significant milestones marking a company's sustainability and success should be incorporated into every communications strategy.