Brand value is the intangible ‘premium’ that a brand represents in the minds of individual stakeholders and customers alike. From an internal point of view, brand value may be defined as an intangible ‘asset’ that generates economic benefits for a company.
Here’s a reminder of 10 areas to continuously consider when striving towards best in class branding:
1. Market analysis
An understanding of the market landscape is critical to positioning the business idea or ‘reason for being’.
2. Know your audience
… and communicate on both rational and emotional levels.
3. Set up foundations
Your story, reason for being, what you are aiming for and core values set solid foundations enabling focused growth.
4. Keep your personality
Brand personality is much harder to copy than a tangible product, meaning greater opportunity for ownership and originality.
5. Live your brand
From tangible brand assets to customer service, every touch point is a considered brand statement open to the market place.
6. Use all your brand assets
Written copy, tone of voice, colour, font style, iconography, imagery and video all have a place to develop your brand.
Can you reach out to and engage with all your stakeholders? Are you accessible to your target audience?
Being able to revive the brand to enable relevant communications with stakeholders is essential for growth and modernisation. This does not mean losing your core values or purpose – rather it is reinvigorating what you have to communicate that vision with your customers in a meaningful way that resonates with them at any point in time.
Contribute to the wider community – it makes everyone feel better.
Build your brand value don’t dilute it – be consistent with your communications to your target audience, the content you put out and any assets that your brand considers to be a cornerstone to its’ identity.