“The branding exercise earlier was to find relevant differentiation between two or three competitors. We don’t live in that world anymore. We live in the world I call the world of webs, the world of networks, the world of connectivity. It’s changing the way you think about brand,” says Erich Joachimsthaler, consultant, entrepreneur, academic, researcher, author and positive contrarian who is the founder and CEO of Vivaldi Group.
Speaking about the brand strategy of Lego, Joachimsthaler said, “Lego has become the most engaging brand in this world of connectivity. The purpose states today that Lego is about the joy of building and pride of creation. The next thing is developing a personality, a tone of voice, symbols, signatures.” Lego’s new brand strategy has 1 million adult fans. That’s people of all ages, mostly adults.
Joachimsthaler shared the three ways that you can bring your brand on the right side, one is what he called, network effects. The product becomes more valuable, because most people use it and share it. In Lego’s case, it asks you to post a creation that your son and daughter have spent a whole weekend or several weeks to produce and post it online.
“Second one is the learning effect. Tesla has more sensors on the car than anybody else. Tesla collects that information, analyzes that information, and learns from that information for the product. So by using network effects and learning, it actually makes the product better.”
“Third is viral effect. How good is it when, 1 million absolute great customers paint 1 million fans, go around the internet, go to their family, go around different states and urge them to please vote for ‘my creation’. That creates a viral effect. It’s an unpaid advertising economy.”