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What is a brand?

Simply put, a brand is the personality of a business. When more people like a brand, its value increases. When a brand is well-defined, consistently presented and reflects an authentic business position, it creates trust in the marketplace. When it is stylish and taps into current trends and movements, it creates buzz in the marketplace.

Trust + Buzz = Brand Value

High brand value creates many benefits for a business including increased confidence from its owners and employees, increased sales from its customers and increased assets on its balance sheet. And yes, brand value is indeed a bona fide asset. In fact, brand value represents over 50% of The Coca Cola Company’s assets. Independent estimates ascribe over half of the company’s intangible value, an almost $70 billion dollar price tag, to the Coca-Cola brand name alone. For some companies, up to 70% of their market value is attributed to the brand.

It is worth pondering how much untapped potential value could be realized by investing in the development of your brand. But just like any asset, developing a brand requires an investment. It also requires a holistic process that strategically defines the brand and then implements all brand communication pieces, remaining consistent with the overall brand strategy.

For small brands the required investment and the entire brand development process can seem overwhelming. But for global micro-brands, or small brands that aim to compete in the national and international marketplace, building a strong brand is essential to success in a crowded environment full of brand-savvy customers.