Even finance guys have been known to break out in sonnet.That’s because brands are conceptual. They allow us to dream, to think of things other than logistics and pricing and firing people. Reflecting on brands help us escape from the drudgery of work.
However, it’s important to remember that brands are quantifiable financial assets, just like buildings, machinery and oil wells. Moreover, they are incredibly valuable assets, often accounting for more than half the value of a business, so we need to take them very seriously. Here’s four things you should know about brand value and how to increase it.
Usually when people think about brands they think about logos and marketing slogans, but a brand is much more than that. As I wrote in an earlier post,brand value is the value of promises made and kept.