What is Brand Valuation?

Over the years, brand valuation is being recognized as an important factor to be used in the analysis of marketing and finance efforts involved in the company. It falls under the intangible business assets category and is being closely looked into for ways to expand market share. Hence, many are undertaking new approaches that will boost efforts to increase the value of a given brand.

Since brand is a potent factor in every business, business owners are more interested in being able to translate that into financial terms. This is where brand valuation comes in. It is closely associated, if not directly related, to consumer perceptions about a brand and its list of products or services. However, aside from monetizing that value, business owners also utilize the impact of brand valuation as a way to determine areas that need to be improved to boost performance.

Determining Value of Brand

As a corporate asset, a brand is essential in helping increase the company’s bottom line. If you can create a solid brand that increases your company’s value to shareholders or consumers, then it will help increase your business potential. The concept of brand value remains quite hazy though, given the fact that no clear method has been established to measure exactly the value and worth of a given brand, especially because it is an intangible asset.

Still, there are a few who remains unconvinced as to what a brand really means. It could be the symbol that represents your company such as a name or logo. This then becomes a symbol for what the company stands for and promise to deliver. That definition of the brand is where value comes in as a brand is expected to deliver the expectations it has created to the consumers. To be able to do that takes commitment from the internal operations of the brand.

However, one cannot precisely give an exact value for a brand. There are direct and indirect processes involved though that enables a company to come up with a definite price for the brand, based on the investment put into developing it.

Direct Valuation Methods

To come up with a direct valuation method for a brand, it takes into account all investments put into the brand while also considering inflation. Other direct methods of value measurement used are Franchise Valuation and Awareness Valuation. When business owners plan on releasing a new product into the market, they typically include into the product value the advertising budget for that given product to increase awareness among consumers.

Indirect Valuation Methods

This is a more complicated process of determining the value of a brand than the one above. One process involves assessing the probable profit earnings that a particular brand is projected to produce. This method takes into consideration the effect that a brand has on the actual sales and profits acquisition. Another method also employs the use of the brand name in considering how one arrives with a value for the product.

Basically, all these methods are merely educated guesses to be able to account an efficient method for putting a price into the brand. Despite all existing debates about what the best method to use in computing brand value, or if brand value does offer any significant impact at all in the sales department, is something that will be settled only with the help of proper strategy. A brand is primarily not just a logo or name, but it is the set of values exhibited by your company for a consistent period.

So, as long as you have established the quality of your brand, then brand valuation should be easier to figure out.

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Promoting business branding online is similar and yet different from typical marketing strategies. Therefore, you have to make unique approach to this method of promoting your business brand. And yet, the benefits of using web tools in making your brand distinct includes the ability to maximize your business efforts and expanding your business’ reach. After all, it only makes sense to extend your branding efforts to the internet given the fact that most people nowadays use the internet as their source of daily information.

There are five major areas that you need to address when developing a strong business brand online.

URL Address

This is a crucial determiner for web browsers. Therefore, you must be able to produce a sense of identity for your website and provide a glimpse into your company even before they get the opportunity to see what your website is really about.

Keywords

The keywords are essential to help search engines connect you to the proper audience. Use keywords that are related to the nature of your website, so that it can be easily detected when people run a search on the internet. Try to be creative in coming up with keywords to use, especially those queries not directly related but associated to your business.

Website

This is where you get to showcase your company’s vision and your offer of quality products or services. Therefore, you must create a website that speaks for your brand. There are several ways to do that, which includes the content, style, design, and color. You must also incorporate your company logo in the design of the website, to enhance the level of trust and confidence on the consumers to your website. Therefore, you must refrain from compromising the substance of your website for style. A website is just another form of marketing strategy and its objective is to communicate your company’s message.

Weblog

Your blog is basically where you focus on producing quality content. This will help establish your company’s brand as something that is of authority to sell a given service or product. There are several spammers that infiltrate the online community, so you have to separate yourself from them. You can do this by remaining consistent with your vision and highlighting your focus on producing a quality brand.

Social Profiles

There are several social networking sites online such as Twitter, LinkedIn, Facebook, among others. When you join any one of these social sites, always include your company signature or brand representative such as a logo. This will help visitors to easily remember your company and be on top of their list.

Business Branding Online Do’s and Dont’s

• Utilizing social network sites that you are interested in as an avenue to promote your brand online is beneficial for your business. Here, you can make connections and expand the reach of your brand. Getting more people into your page will produce major brand building traffic into your site.

• Just write useful and quality content on your site. When people begin to realize the importance of your site’s content, it will eventually impact your performance on search engines.

• Try to offer advice or solution to the needs of the people. But refrain from spamming since it would basically ruin your business’ reputation.

Business branding online has expanded the reach of your branding efforts to produce a more promising growth for your company.

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What is a Slogan?

Any form of business branding plan must involve the creation of a slogan. It is one of the basic elements necessary in building an effective brand campaign. A slogan typically consists of a short sentence or a phrase that serve to reinforce the business name or logo. In fact, many big time businesses has created highly successful marketing slogans that it has been recognized by the consumers as much as their name.

Slogan is often dismissed as an element for effective branding methods, which is also the reason why even a potentially good business name fails to deliver. Its purpose main purpose is mainly to enhance and boost the name or provide a tiny glimpse of what the brand promises to deliver. Even simple words or phrases can go a long way when it works well with your brand.

Impact of Slogan to Branding

Brand recall is the main purpose of creating a slogan. They are there to speak for the brand where images fail. This further enables the brand to create a more lasting memory to the minds of the consumers and enhances the market reach of the product.

Therefore, you need not just produce a creative slogan but an intelligent one. The purpose is mainly to capture the consumer’s attention and produce interest about a given product. It enables your audience to stop and think about the possibilities offered by the brand. Depending on your marketing plan, you can utilize a slogan to appeal to either the needs, attitudes, or emotions of the consumers. Therefore, you are trying to compel them to make an action, which in this case is to purchase the product to avail of the benefits it offer.

Why is it such a potent part of your marketing and branding efforts, you may ask? Because it triggers the motivation of the consumers then driving them into action.

Creating a Good Slogan

Due to the importance of the slogan in your business, it is best to assert careful planning into the process of creating a slogan. To achieve a good slogan, you must inform yourself of what the qualities of a good slogan are.

1.) A good slogan is memorable. Since the purpose of a slogan is to increase brand recall and trigger buyer motivations, it must first be able to capture their attention and stay in their memory for a given period. Staying power is an essential factor in the business industry, so you have to be able to produce something that stays in the mind of the consumers when they go out to buy.

2.) A good slogan produces images on the consumer’s mind. Most people produce images on their mind when they hear something. Hence, you can trigger the visual patterns of your customers by using the slogan. For instance, you can remind them about your company logo and create a stronger link between the two.

3.) A good slogan drives people into action. Awakening triggers on the consumer’s part will help make them the decision to buy the product being represented.

4.) A good slogan highlights the benefit of the product. This is tied up with the efforts of creating product distinction, which is to emphasize the benefits that one can derive from using a company’s products or services.

Advertising versus Business Slogan

Business owners must be able to differentiate advertising from business slogans since they serve different purposes. The business slogan is more important since it concerns the brand identity. It impacts your distinction in the market and the power of your brand.

Meanwhile, advertising slogans are created for a specific marketing objectives and over a short-period of time. It is more concerned over influencing a consumer’s immediate reaction to a given product while business slogan reinforces the reputation of a company as part of its branding efforts.

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Branding is a product of intense planning and conceptualization. To come up with innovative marketing ideas and an effective way to brand your products, you need to carefully laid out the steps you need to get there. Doing so will also enable you to take note of the vital aspects involved in the creation of a brand. Brand models have been formulated to create the framework needed to build an effective brand that will be able to withstand market trends and competition.

What is a Branding Model?

There are basic models utilized in the process of brand planning. Each of them will cover different scopes and aspects of the process to create a sound branding strategy. Aside from the ability to postulate methods for arriving at a specific brand idea, these models will also help businessmen understand the behavior of consumers in terms of their responses to a brand, which is helpful in adjusting old branding strategies or acquiring new ones.

All of these features are key in managing and reviewing brands, which are necessary steps that must be taken by any company in their branding efforts. These models are not directly linked but one does impact another.

Brand Positioning

This model involves your effort to create an image that will have its distinct position in the market. Firmly establishing your brand will help your target market to easily remember and and opt for your line of products. This is one aspect of your brand planning wherein you must focus on creating superior brands that will eliminate your competition. Here are steps you need to look into:

*This is the step wherein you begin to identify other brands you are competing against. Then, define the parameters of your own brand against your competition. This will enable you to focus your efforts.

*Next, your objective is to introduce attributes to your brand that will enable it to stand out from competition. You must also introduce elements into your brand that will produce in the mind of your consumers or target market the perceived quality of your brand.

*You must establish a slogan for your brand that will aim to reaffirm the position and values of your brand. It aims to articulate the message of the brand and what it promises to deliver to the consumers.

Brand Resonance

Once you’re through the stage of creation and distinction placement in the market, your next step is to protect the loyalty of your consumers. To do that, you need to employ an efficient customer relation service and to provide a feedback system. This model follows from the initial steps laid out by the brand positioning methods. Now that have acquired target customers, your next aim is to strengthen the relationship between them and your brand. After all, majority of the business sales stem from repeat customers.

More than anything, this stage is where you must reinforce the messages initially conveyed by your brand. Hence, customers will remain satisfied with the level of performance and quality delivered by your brand. Are your methods consistent to the identity of the brand and its missions? Take into consideration the feedback of customers on your product and how you can build up on that relationship.

Brand Value Chain

This one is more focused on the financial impact of your branding efforts. The basic idea of this model is that the value of the brand consist in the customers, so that is where you should be focusing most of your branding strategies on.

Carefully combining these various models will provide a company a reliable perspective of the different areas involved in the marketing activity. Taking bringing all these branding steps into the formula will enable you to easily track progress or problem areas in the branding system.

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