For a long time, many working in Marketing & Advertising have referred to brands as an intangible asset whose benefits are near impossible to measure. So for businesses to allocate budget to invest in brand maintenance/development seems a tough ask.
Aren't brands just emotional, metaphoric and ornamental; an expensive luxury within the marketing arsenal? No.
Research shows that a company's brand is its most powerful and versatile business tool, its most valuable commercial asset. It increases the chances of customers choosing your product or service over your competitor’s, attracting more customers, at a lower cost per sale, who are happy to pay a little more, and will buy it a little more often. A strong brand will deliver more revenue, profit and growth, more efficiently, year after year, and so generate more shareholder value. It can help attract, motivate and retain your second most important asset: your people. And can work as a barrier to entry for future competitors, creating a legal ‘monopoly’.
The obvious financial and commercial benefits of a brand to a business is clear. So; why wouldn't you invest in your brand?