Brand Value

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The world’s most valuable brand as measured by Interbrand is once again Apple, up +4% to $503 billion. Half of the top 20 brands are tech companies and 3 are auto manufacturers, with Coca Cola, Nike, McDonald’s and Louis Vuitton as the only true consumer brands on the list. Disney was the only brand in the top 20 whose value declined, down –4% year over year to $48 billion.

Interbrand does its annual assessment using a proprietary methodology, and most consider its rankings as the gold standard. (This is their 24th year.)

By definition, brand value is how much your brand is worth if you were to sell it. Brand value is created over time by all your actions. It represents the perception, reputation, and trust that your customers have in your brand. The stronger your brand awareness, brand equity, brand image and brand loyalty, the higher your total brand value.

Brand value is NOT just for the top global brands. It is important for all of us. Brand value plays a role in purchase decisions, the price premium consumers are willing to pay, brand preference and differentiation.

How to build brand value.

Brand value starts with a high-quality product that meets a legitimate consumer need in a distinctive manner. Everything that goes into that purchase and usage experience matters, from the ingredients to the packaging materials to the nutrition and health profile, to the shelf life. It may sound obvious but even the little details make a difference. How are the product breakage levels? Are the packaging and ingredients sustainable? How is the package fill rate? Does your brand offer superiority on important attributes like taste, freshness, nutrition, or wellness? Importantly, do your customers believe that they get good value for the price they pay?

For the purchase experience, is your brand easy to find at retail (meaning not being stocked on the bottom two shelves), with distinctive graphics and a memorable tagline? Do you experience out of stocks or less than complete orders? And do you offer pack sizes and flavors that fit the class of trade? Examples are multi-packs at a great value for the big box stores and individual serving sizes with higher flavor profiles for convenience store customers.

How about customer service? Do you have a toll-free customer service number printed on your package? Do you have consumer representatives available, and if so, more than just 9 – 5 shifts? Do they handle complaints or issues on the first call, with the ability to escalate if necessary to satisfy customers? Do you offer a satisfaction or freshness guarantee?

We are not saying every brand has to do everything. Pick your points of difference and do them really well. And then make sure your messaging and marketing reinforce those drivers of brand value.

Here is an example of a brand that gets it right. Hormel Natural Choice cold cuts. The product is 100% natural with no preservatives, no nitrates or nitrites added, no artificial ingredients, and no added hormones. The product is gluten free and fully cooked and comes in a resealable vacuum sealed bag. The carton is recyclable, has a toll-free phone number on the box along with Facebook and Pinterest links. The prepare or freeze by date is printed on the exterior of the box and on the interior bag. The inner bag has a scored tear off tab and the resealable feature works securely. It comes in single sleeve or double pack sizes to satisfy larger families. Oh, and it is protected by a U.S. Patent 7,050,309.

Brand value is dynamic.

It is a constant battle, since your competitors are always trying to one-up your latest brand initiative or innovation. The best advice is to stay close to your consumer, understand how preferences or habits change over time, and then adapt and evolve your offering while staying true to your core position. An annual brand value check-up with your agency partner is good hygiene, as it can isolate opportunities or deficits.

Some product categories thrive on novelty, like snacks, frozen desserts, or confections. Some can bring incremental sales with seasonal or holiday products, or special packs. Others sustain interest with new and distinctive flavors.

The best brands also know how important it is to tap into the emotions behind brand choice and preference. Those higher-level benefits can be powerful drivers of brand value, particularly if you can get there first and persuasively communicate that story.

At Damen Jackson, we have the benefit of 24 years of working with almost 800 clients to help your brand stand out with powerful messaging and design that sells. And we are here to fully leverage and enhance your brand value.

Importantly, we stand ready to help you grow your teams and your business. We are deep thinkers with the courage to tackle challenges large and small, whether you want an outside look at your brands, a focused project for a product launch, or a tune up for your messaging or look. Our fresh eyes are there to supplement and augment the experience of your leadership team, while multiplying the odds of discovering meaningful new revenue growth or sources of competitive advantage.

Let’s get some great work done!

Take the first step to a more successful business today.

1.    CLICK HERE to schedule a free 30-minute discussion. No pressure – we promise.
2.    We’ll provide real-world case studies showing the process in action.
3.    If we’re a fit, we finalize details and get started.

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