Brand Equity
Brand building is a journey.
Creating brand identity is a long-term process that happens on all company levels. While marketing focuses on specific, targeted campaigns, branding is an evolution. In marketing there are set points to measure your return on investment, but with branding, it’s not as clear cut. In branding, it’s all about the value of your brand.
Branding Vs. Marketing
It’s critical to understand several key points of difference between marketing and branding. Branding and marketing have different end goals – marketing is about developing a return on investment, but branding is about building value. Marketing shows up in your profit and loss, but branding is located on your balance sheet. Marketing is short term, branding is long term. Marketing creates sales in the moment, but branding builds longevity and loyalty.
Brand Value
Brand value is also known as brand equity: the accumulated value of a company’s brand assets, both financially and strategically. In practice, it’s the overall market strength of a brand. What is your brand worth in the marketplace? High value brands are memorable, authentic, and inspire loyalty in their customers. Brand value is a huge asset – it’s how you keep customers coming back in an ever-changing marketplace, even when you have a myriad of competitors. When your brand is valuable, consumers trust you. It’s a long-term, capitalized investment, which delivers benefits over time.
Focus in
Marketing is a short term investment and can reap great returns. But you will end up wasting time and money on disparate marketing campaigns without a solid brand identity and strategy to base them on. When your brand is strong, your marketing efforts are more focused and therefore more effective. With a solid brand, marketing and branding work in a symbiotic relationship, each reinforcing the other. Your branding efforts create a loyal consumer base, while your marketing efforts strengthen your brand identity by getting your message out.
Is your brand valuable? Consider where your resources and energy should be spent. A well executed brand strategy can create more sales over time and increase the effectiveness of marketing efforts.
We’re seekers who find hidden gems. With our guidance, your brand can be as valuable as a diamond. Ready to take the journey? We’re ready to go.