NEW YORK, Oct. 1 /PRNewswire/ -- What we've all witnessed this week was
more than a failure of Wall Street or of Washington, it was a catastrophic
failure of branding.
We are facing what is arguably the most complicated issue of our
lifetime and no one has taken the time to simplify the issue for the
American people. Absent that, pundits and partisans on the far left and
right have seized the opportunity to incite panic and doubt. And it is
working. Recent polls show that almost 50% of people are opposed to the
bailout plan and of that same population, 90% of people believe that the
failure of the bill to pass the House has worsened the crisis. Clearly
there was a branding issue that failed to position the bailout as the
solution most of us want.
Granted, it is difficult today to tell a story. We live in a soundbyte
culture where a given candidate has about 8 seconds to make his point.
Which makes smart branding all the more important. Some politicians
understood this very well. Think back to the New Deal. Who didn't want to
benefit from that? There are much more recent examples: how can you be
against something called The Patriot Act?
But the bailout? A bailout makes us all smaller for having participated
in it. "Bailout" connotates failure and Americans hate failure -- unless
there is the promise of a second act where the hero finds redemption.
There is nothing redemptive about a bailout, no thanks for the one
providing it. Only mutual embarrassment for having arrived at the scornful
eventuality.
What if this had been called a "rescue" from the beginning? Or the
"Save our Homes Act"? Supporting a "rescue" is a bear of an entirely
different species. It is not only a redemptive act, restoring things to
their rightful order -- it is heroic.
Americans will eagerly stay glued to the screens of their televisions
to witness an act of heroism, such as a firefighter lifting a fallen young
girl up from a deep hole, or pilot safely landing a disabled airplane on a
runway.
Americans feel as though they are a part of these acts, sharing in
their glory. They will applaud and honor those who perform the act of
heroism.
There is no such thanks for those who provide a bailout. The curtain
tends to fall swiftly on a drama with no heroes.
Today consumers choose brands that share their values. Supporting a
rescue says something important about our values and our personal character
to those around us.
It says I care. It says I am a good person. It says I am a hero too.
Lessons for marketing beyond politics are abundant in the failure of
the bailout. Consumers and voters find real value in making "heroic"
statements about themselves, and are eager to find ways to express their
heroism not only in their political choices, but in their everyday product
choices too.
Savvy and wise marketers are paying close attention to this emerging
trend and exploring new ways to align their brands with consumer values.
From Hybrid cars to Free Trade Coffee, consumers are sending a message that
they aren't just buying products, they are "voting" for the products that
advance their world view.
Is it too late to reverse the damage of the bailout brand? Only time
will tell. But these authors believe that an enormous amount of effort will
be spent to re-brand the rescue plan before the Senate votes tonight.
Andrew Benett
CEO Euro RSCG New York
Global Chief Strategy Officer
Euro RSCG Worldwide
Bruce Haynes
Managing Partner
NMPA, National Media
(703) 683-4877
Mary Perhach
Global Chief Communications Officer
Euro RSCG Worldwide
(212) 886-4418, (646) 508-6415
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SOURCE The National Media Group
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CONTACT:
Mary Perhach, Global Chief Communications
Officer, Euro RSCG Worldwide, +1-212-886-4418, +1-646-508-6415;
or Bruce Haynes, Managing Partner, National Media Public Affairs
LLC, +1-703-683-4877
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