Short answer: YES!
In today’s post we want to encourage you to think differently about your brand. Our clients come to us for a multitude of reasons, their pain points and business problems vary greatly. But what they, for the most part, all have in common is that they don’t think of their brand as an asset.
Similarly, marketing to most small business owners is something they spend money on when they have something extra to spare, it’s not something worked into their yearly budget. Part of our job is to get our partners to think differently about their brand. Because your brand, if managed properly, is your only asset that will never depreciate in value.
We’re not saying this because we love brand… Which, full disclaimer: we do, we’re saying this because it’s true. Your brand is not only an asset but it’s often also your most undervalued asset.
When you view your brand as an asset you are able to grow brand equity. We covered brand equity a few weeks ago, for a quick refresh please see our What is Brand Equity post.
Brand equity is essentially an arbitrary value placed on your brand. The big players, like Apple and Coca-Cola are brands that are worth millions, and we're not even talking about their buildings, trucks, inventory... That is just simply the brand. That arbitrary name, feeling, idea, logo known as their brand.
So take a look at your business, how would you operate differently if you viewed your brand as an asset that had to be managed? How would it affect your business if you viewed your brand as something that required maintenance, strategy, procedures and so forth?
If you need help figuring out how to turn your brand into an asset, give us a call for a complimentary consultation!