Insights:Are Your Brand Assets Up to Snuff?
Brand assets can be incredibly valuable and translate into business success. For example, Apple’s brand assets are estimated to be worth more than $263 billion dollars. Want to know why Walmart’s iconic smiley face is always smiling? Because the retailer’s brand assets are pegged to be worth more than $93 billion dollars.
If you’re wondering what brand assets are, they’re the visuals and elements that define a brand’s identity and allow consumers to identify a company’s products or services easily. The top three main brand assets are a logo, color palette (think red, for Coke) and tagline or positioning line. Brand assets can also include typography, packaging, brand name, songs or sounds, to name a few.
The reason these are so valuable is they facilitate easier sales because they signal a company a consumer can trust. For example, when you see a McDonald’s sign you know what you’re going to get, so the purchasing decision is made simpler.
Of course, just having a logo and tagline doesn’t mean you’re sitting on a gold mine.
For brand assets to become valuable they need to be defined and show relevancy to the consumer. This is done through marketing, consumer outreach efforts, message repetition and consistence application.
Creating value within your brand assets takes an investment of both time and money. That is why it’s important to clearly define your brand attributes, ensure your material reflects your unique selling proposition and, in executions like your logo, has a certain degree of longevity.
The important thing to remember is that a marketing investment offers value in two potential ways. The first is the immediate sales that result from your marketing efforts and the second is creating long-term value in the brand assets themselves.
If you’d like to discuss creating new brand assets, undertaking a brand audit or learn how to make the most out of existing brand assets for your company or organization, give the branding experts at Insight a call at 605-275-0011 or send us an email.