How Important Is Branding?

In business, there is a fine line between success and failure.  At the end of the day, good branding is what will dictate which side of the line your business falls on.

 

Case-in-point, this October acclaimed graffiti artist, Banksy, has had an ongoing “residency” on the streets of New York City called “Better Out Than In” (http://www.banksyny.com/).   As part of this project, on Saturday he set up  an innocuous sidewalk kiosk in Central Park selling his original work for $60 per piece.  Without the “Banksy” brand name attached, the day ended with a handful of sales totaling $420 dollars.  Each piece has now been valued at over $31,000.

 

This photo links to a video that shows how easy it is for great products to be ignored when you take away the “hype”.

 

A 30K Lesson In Branding

 

 

Keep your eye on Banksy’s “Better Out Than In” project (http://www.banksyny.com/).  They’re sure to cap off the month with something monumental.

 

-Scott

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