The brand is among the few assets of a company that appreciates itself over time
One thing that is known in business is that assets depreciate. Depreciate machinery, computers, buildings, technologies, etc. The car, for which you are signing the purchase right now, has devalued by at least 10% from the moment you picked up the pen on the contract.
Everything depreciates. But the brand is the only asset owned by a company that, if managed efficiently and benefits from investment, appreciates its value over time.
We have often met with manufacturing businesses that have made significant investments in technology, in workspaces, in distribution, but who have completely ignored the investment in the brand. What happened? Their products were devalued due to the lack of attractiveness and connection to contemporaneity, the lack of relevant communication, the lack of transfer to the consumer of the intrinsic qualities of the products.
Any delay in the decision to invest in your brand means leaving room for uncertainty in the future.
Have you thought of building a brand as an investment and not as an expense? And to the fact that the investment in the brand must be caught in the business plan, separately from the marketing budget?
To what extent are your customers loyal to the products or services you offer? 50% of customers are willing to pay 20-25% more, for a brand they are loyal to*.
Have you felt at times that if you had a stronger brand, you would have negotiated better with your business partners?
Are your customers open to trying a new product or service? 50% of customers are open to trying a new product or service from a brand they prefer and trust.
Have you noticed how a strong brand attracts like a magnet the best employees on the market?
*S.M. Davis, Brand Asset Management for the 21st Century Study.