Considering what the hottest brands are of the moment is not that difficult if you have a television or have access to any sort of media or the Internet. By definition the hottest brands are the ones with the most exposure and brand recognition and brand awareness.. But exposure is not all that that goes into making it hot. Brands are also hot because of the reputation and also because of their “it”factor that moves well beyond just exposure and brand knowledge and into something deeper and more psychological within the culture. It is not hard to think about the hottest brands off the top of your head.
Brands like Nike and Coca-Cola and McDonald’s are some of the most ubiquitous and famous brands in the world. But does that make them hot? Hotness is not just defined by how many people know the name of your company but by how many people are talking about your company and brand with the most excitement. The hottest brands in different Industries and different markets . The element of hotness is composed of many different factors that include brand awareness but are not limited to it and also include things such as celebrity endorsement as well as buzz with an industry or other intangibles that can or are not directly related to the efforts of the marketing team and advertising of the brand itself. For instance it is possible to have a brand without any direct marketing or advertising that is extremely hot because someone famous wears their dress on the runway.
Similarly in other industries particular fashion but also in film and music and other culture it is possible to have a very hot brand even without any direct marketing because of the strength of the word of mouth factor. It is true that good marketing and advertising is a great way to make your brand hot but this can also backfire. If the advertising is not strong or does not hit its target in the desired way then the effects can lessen the heat of your brand. However hot branding in fashion is different than hot branding in other Industries. For instance in the IT and internet and technology industry oftentimes the hottest brand is the one with the best idea or the idea that is the most attention grabbing.
This is most well illustrated by the wild valuations of certain companies on the stock market. Even without a product or a revenue stream these companies can be valued for millions and billions of dollars based on the hotness of the idea and the brand itself. Good examples of this are SpaceX and Facebook that went from very popular hot brand companies who developed a heat recognition based on their user experience and also their press releases and then developed into profitable businesses. It is possible to capitalize on the heat of your brand but it is important to consider what kind of company you are and what you are selling and what this means as far as our strategy.
If you are trying to be a hot brand of electronics you will go about advertising and developing this heat differently than if you are a clothing company or a fashion house. In the following blog post you will break down the different types of heat for different sorts of industries and brands and also dissect the hottest brands of the moment to find out how they did it. Follow along with this blog if you are in marketing or have your own business or are just curious about which brands are the hottest in each industry and each culture. We will dissect the hottest trends in the United States first and foremost but also we will spend some time with an international focus as well. Stay tuned!