BRANDING BULLETIN JANUARY 2020: The Brand Value Issue
In this issue!
- Brand Value: A Different Perspective
- Brand Value Adds Up!
- Complimentary Migration Roadmap
- In Case You Missed It
- Free Branding Lunch & Learn
- By the Numbers
Brand Value: A Different Perspective
Ever wonder about the term “brand value”? It’s both simple and complicated, really. The term refers to the monetary premium that comes from customers’ commitment to your brand and their willingness to pay extra for it as compared to other offerings in the same category.
However, to simplify, let’s look at Marketing Guru Seth Godin’s definition: “A brand’s value is merely the sum total of how much extra people will pay for, or how often they choose, the expectations, memories, stories, and relationships of one brand over the alternatives.”
There are a number of organizations out there that have their secret-sauce-infused formulas for determining brand value (e.g., Interbrand Best Global Brands, Forbes, and Millward Brown). We can help you determine your brand’s value, too, but we’d rather work with you to raise your brand’s value, not just measure it.
Going back to Seth’s definition, here’s a question for you: What expectations, memories, stories, or relationships does working with your organization inspire? In other words, what are you selling along with what you’re selling? What are the intangibles that set you apart from all the other choices people have?
Continued on spencerbrenneman.com
Brand Value Adds Up
Getting your head around brand value is tricky. How do you calculate it, exactly? How much money are we really talking about? There’s a great article on Statista by Liam O’Connell that lays it all out. For example, as of 2018, Amazon was the most valuable brand in the world with a brand value close to US$ 151 billion. Apple and Google were the second and third most valuable brands, with values of US$ 146 billion and US$ 120 billion, respectively.
You can read O’Connell’s complete work on Statista.com, including more on the role that customers, employees, and investors play in creating brand value.
Complimentary Migration Roadmap
Download our complimentary Migration Roadmap! It suggests what you have to rebrand and when. Also, check out Douglas Spencer’s book, Do They Care? The one question all brands should ask themselves, continually. It has a full chapter dedicated to managing your brand during a merger.
In Case You Missed It
By the Numbers
Alibaba’s retail brand value worldwide.
Growth of the Instagram brand value from 2018 to 2019.
United States national brand value.