Most marketers would agree: a strong brand can be a company’s most important asset. But push those marketers to define the value of their brand and many will struggle.
The truth is it’s hard to quantify exactly what impact a strong brand has on an organization. We can all feel it when a brand is successful. We can all name successful brands. But how do we define that value?
The Feel of a Strong Brand Strategy
When a brand is thoughtfully created and strategically supported, it can be felt throughout the entire organization. Some of the softer, intangible indicators of a strong brand include:
- Internal Culture: Your employees feel good about working at your organization. They are happy, they like coming to work, and they act as your internal fan club.
- Customer Enthusiasm: You’re popular. Customers are seeking you out. Word of mouth is great, and those that know you, love you.
- Market Reception: Even among people you haven’t met yet, you’re popular. The media loves you, your competitors envy you, and investors trust you.
- Business Results: Sales! Sales today, sales tomorrow, and a strong forecast into the future.
But What Is a Brand’s Value, Really?
Actually quantifying the value of a brand is a common challenge. Lucky for us, it’s also a common field of study. We’ve compiled some of the best stats from across the industry that demonstrate the true, quantifiable value of a strong brand strategy.
