Managing Assets

As we've worked out way through the brand identity process, we've identified several phases. First, we conducting research. Then we clarified strategy, designed the identity and created touchpoints. Today, we'll look at the last phase - managing assets.

Brand identity doesn't simply end once the identity is created. In fact, creating the identity was probably the easy part. Once an identity is created it has to be managed.

"The brand is a living animate object. It needs to be continually monitored, ensuring differentiation and relevance." - Clay Timon

How is the brand managed? It's managed through standardization, guidelines, implementation, and measurement.

As I've done in previous blogs, I wanted to take a look at a few topics of interest that stuck out to me.

"In the UK, over 70% of what was paid in the acquisition of companies was for the goodwill from intangibles including corporate brand value." - Turnbridge Consulting

Wow. That's an interesting quantification. If you've read my paper about Federated's national Macy's strategy, you'll know that one of my concerns with the strategy was the loss of the regionals' brand value. Now think about... If the quote I've provided above is at all representative of corporate acquisition valuations as related to brand value, then how much did Federated gamble and stand to loose by doing away with the May Department Store, Foley's, Marshall Field's brands?

Metrics and measurements are a pretty big topic in this Managing Assets phase. By isolating touchpoints, you can measure the success of branding efforts. For example, you measure advertising by quantifying awareness or conversions. Or, you can measure public relations by quantifying buzz and awareness. With that in mind, what are the best metrics for measuring a website? I'll build on what the book suggests and say that metrics for the web are specific to the goals of an initiative. If you are purely interested in a branding initiative, impressions or page views may suffice. However, if you are interested in direct response leading to conversions, cost per click, cost per action, conversions and return on investment are solid metrics.

"If employees are excited and mobilized, then more than half the branding battle has been won. Employees carry the company's culture and character into the marketplace." - Bruce Berkowitz

I can't agree more. Exployees are often the human face of a brand.

The last topic I wanted to look at today was the concept that the web can provide a means to facilitate an identity. Yes, websites are definitely touchpoints. But, the web and websites can also be used as tools to facilitate that brand identity. For instance, standards and guidelines can be consolidated in a single, easy to access website for use both internally and externally. Employees can access and download files, templates and imagery. Companies can also provide media/press kits online (Honda, VH1, Vouge) as well as marketing and sales toolkits (Denon USA, KUMHO Tire, OnStar).