Getting started: Immediate brand awareness for new brands & products
Generating immediate brand awareness is a challenge and necessity for start-ups. Jim Aivalis, CEO and president of Prometheus Energy Group and former president and CEO of ThruBit talks about how branding helped ready ThruBit for product launch.
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 today is Jim Aivalis, CEO and President of Prometheus Energy Group. So Jim, I am so glad that you’re on Brandonomics today.
Jim: Robin, thank you for having me on today, I really look forward to this interview and I’m honored to be here.
Robin: Thank you so much. Well, I know before Prometheus you were a driving force behind ThruBit, which was a logging solutions company. And it was great because as a start-up, you had to get some great brand awareness right away, but that’s also bad because you had to get some great brand awareness right away. So, how did you approach that?
Jim: We were spending years doing engineering and development. As we came to the point where the company evolved to the point of commercialization, we recognized that in order to get traction, we needed to have good brand awareness and company recognition out there in the marketplace to give us the best chance of having our product, our solution and our services familiar with the customer base and then accepted by the customer base at as rapid a speed as possible.
Robin: So part of that strategy was to create a phrase, and you used the phrase, “If the bit can get there, we can log it.” And I think that that was key for you because, obviously, no one knew about ThruBit. So why did you take that approach?
Jim: It was a very simple and powerful message. “If the bit can get there, we can log it” addresses the concerns that most customers in this space would be familiar with and recognize quickly because previous methodologies were always very high-risk or very high-expense, and our technology solutions that we brought to the market, they could relate to quite rapidly. Saying that they could acquire the information they needed in a very low-risk and low-cost method to give them the solutions and the decision-making process that ultimately yielded their best performance and results.
Robin: Well, Jim, thank you for sharing how branding helped ThruBit with that product launch.
Jim: Thank you very much. Thank 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/
ThruBit, a Schlumberger company, provides openhole logging services conveying the smallest openhole logging tools available in the industry, using a unique through-the-bit deployment technique. Its services have been run on some of the longest horizontal operations in North America and in difficult hole conditions when acquiring normal wireline logs was not possible. http://www.thrubit.com/