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How to Identify your Most Valuable Brand Assets

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valuable brand assets

 

What is a brand? Simply put, it’s the way to identify and distinguish any company, individual, organization, school – you name it – from competitors and help it stand out in the market. For consumer businesses and even the corporate world, a brand is the most valuable entity a business has because it captures everything the company represents and stands for.

It’s best to think of a brand as all tangible and intangible elements that shape the image, reputation , loyalty, perception of a company  developed over time and across situations as consumers and clients interact with your idea or business.

When diving deeper into a brand, it’s a good idea to narrow it down to the different elements that make up your brand, be it the name of your product, a certain logo or slogan, color schemes, music or jingles, distinctive product packaging style or a character. These assets must be recognizable such that audiences immediately associate the element with your brand and company.

But because companies are creating such a large volume of digital assets these days to stay relevant and connect with audiences around the world, it can be difficult to decide which of your branding elements are the most valuable to your company. To help determine this, the Ehrenberg-Bass Institute for Marketing Science created what it calls a “Distinctive Asset Grid,” which helps companies pick out the best assets that represent their brand.

The two key criteria used in the Distinctive Asset Grid include fame and uniqueness. Fame measures the percentage of consumers that link the asset to the brand, and uniqueness measures how many brands are linked to that particular element. Essentially, the best distinctive assets are the ones that are both famous and unique.

The evidence is impossible to ignore – just look around you. It’s very likely that you’re surrounded by several recognizable brand assets right now, be it your breakfast cereal or the coffee you poured for yourself.

Arguably the most important factor in developing a recognizable and distinctive brand asset is a commitment to keep these elements consistent in marketing campaigns. To establish a link between your brand assets and your company, these elements need to be carefully deployed so audiences can learn to associate the two over time. If you use different color schemes or variations of your logo with every marketing campaign, it will be difficult for your brand to stick in the minds of your audience, especially when it comes time to buy a product.

The best way to approach the task of maintaining a consistent and strong brand identity is to leverage tools for brand management. To meet the needs of today’s fast-paced, round-the-clock global campaigns, a centralized cloud-based platform to manage, store, search and distribute brand assets is the strongest option available to marketing and creative teams.

By storing and managing all digital brand assets in the cloud, marketing teams can easily access and distribute files from anywhere, at any time. There’s no question to where important files are and sharing files with team members and other external parties is made simple.

So after you’ve distinguished which brand assets are driving the most engagement and recognition for your company, you can duplicate those results. Easily repurpose similar elements in your most effective materials, and continue to create high-quality brand assets. With a powerful brand management system, your marketing team can easily focus on the most important goal –managing, growing and protecting your company’s brand identity.

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Stay up-to-date with the latest resources, tips and must-know news for enterprise marketing, creative and digital asset management professionals.

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