Before the birth of the latest royal, we undertook a survey of marketing professionals on the name they thought would be best aligned with the royal brand. In the end Wills & Kate opted for their personal choice of Charlotte rather than Alexandra – marketers’ first choice. In the future we can only hope that royal parents will consider the insight of branding-savvy marketing pros when it comes to naming their children.
This isn’t necessarily as absurd a position as it first seems. The Royal Family is integral to British tourism, which is a significant contributor to the economy. Tourists are drawn to London from all over the world to see the Royal Family, and readily part with their hard-earned dollars, euros, yen and roubles.
There are of course many who think the Royal Family fail the all-important return on investment. It is true that keeping the Windsors is far from cheap with the £35.7 million cost per year (56p per Briton) perceived as unacceptable by some in austere times.
However, when we factor in the amount of money the royals can potentially generate, utilising the public purse to maintain them appears a very good piece of business. Prince George brought in an estimated £247 million, and some experts believe that Charlotte could generate £1 billion over her lifetime. This is a return on the estimated £189 million investment that it will cost the taxpayer to keep her (should she live to be 90) of over 400%. This is not only good news for luxury pram merchants, Coutts and charter jet providers, with the research suggesting that a wide range of industries including beauty and fashion will be beneficiaries of brand baby.