Calling all CEOs: Get in on the branding conversation
Branding is a business conversation, not a marketing conversation -- and CEOs need to recognize its value. Jim Aivalis, president and CEO of Prometheus Energy Group talks about the difference that branding can make.
Robin: Hello and welcome to this edition of Brandonomics, an inside look at top brands and their marketing strategies. I am Robin Tooms, vice president of strategy at Savage, and my guest again is Jim Aivalis, CEO and president of Prometheus Energy Group. So Jim, welcome back to Brandonomics.
Jim: Robin, so nice to see you again, I’m so happy to be here again to spend some time with you today.
Robin: Well, I so appreciate you being here because this is a branding show and we’re talking about branding. But you’re not a brander – you’re a CEO – and really branding is a business conversation, not just a marketing conversation. So tell us, why should companies invest in branding?
Jim: It’s very much a business conversation. The brand value of any company adds significantly to the overall value of the company and its ability to penetrate the marketplace with its message, its products, its solutions to the end-user customers. What I’ve seen and experienced in my past is: I have seen two companies with identical products, identical technologies, the same people. The company with the strong brand name commanded a 30 percent premium over the company that was introducing products, services and solutions that were identical, but had a 30 percent discount to the company that had a strong brand image. So from my perspective, I think any investment to look at branding, messaging and how we want to participate in the market space, our reputation, our brand image, our message is very important to the value of our company and hence, to the way customers perceive us.
Robin: Absolutely. Well, I obviously know that to be true, I’m glad you mentioned that. The other thing that we see a lot, obviously in the oil field, is a lot of mergers and acquisitions. So from your perspective how does a company like you kind of incorporate branding into that decision?
Jim: It’s a very sensitive space, it’s very cost sensitive, it’s very risk sensitive but it’s also very innovative. We wanted to be a company with a message and brand recognition that was one, a champion of innovation, two, reduce risk and help reduce overall total cost to our customers to give them the value they desired and to recognize us as a leader in that specific space with that message being out there in the market and the recognition of us.
Robin: Jim, I’m so glad to hear you say that, because you get it as a CEO, and I think it’s important for other CEOs to understand the value that branding can bring to an organization.
Jim: I’m a believer. I really believe in branding affecting the value of a company, how our customers perceive us. Can’t really say enough about how I think branding is part of the overall business proposition and value proposition that we bring our customers.
Robin: Well, thank you so very much.
Jim: Thank you, Robin. Nice to see you.
Robin: This has been another edition of Brandonomics, an inside look at top brands and their marketing strategies.
Prometheus Energy is one of the largest and fastest growing suppliers of liquefied natural gas (LNG) to the industrial sector in North America. The company provides turnkey fuel solutions to convert industrial users of diesel, propane and other crude-derived fuels to clean, domestic, secure LNG, resulting in reduced fuel costs and environmental footprint. http://www.prometheusenergy.com/