Red Zebra Business Centre - Management Memos

Making Measurably More For Your Business Since 1985!

April 2013 Now including My Local Pool Shop Monthly News.  

Value Your Brand Assets

Some businesses are the proud possessors of assets that seemingly compel people to do strange things – like hand over money to possess an element of them.

Branding Elements

These brand assets are the stuff of witchcraft! Usually a name, but often a sound, a colour or a phrase. Sometimes simply a shape, a smell, a taste, or even a face.  All of these things are called branding mnemonics. They are as much an asset as a building, patent, intellectual property, cash, or any other acknowledged and fiercely protected asset.

Why are branding mnemonics such an important asset? A brand is nothing more or less than the current retrieved memory you have for a business, product, or service. And it includes both conscious and sub-conscious recollections.

Despite what the creative media community would have you believe, branding is not created in the vacuum of your office, or after hours in your living room. Your branding is created by the myriad of interactive touchpoints your customers have with your business.

Branding mnemonics or hallmarks are embedded in our conscious and subconscious minds as memory retrieval devices. They help us easily store our feelings and thoughts. They help us retrieve them when we see or feel or react to the next touchpoint or interaction.

Developing branding devices that are memorable is a hard task. Getting them embedded in customers' minds in a powerful way, is even harder.

Coca-Cola has had the same logo (with minor refreshes) for 150 years. Frank Lowy is known to ferociously defend the Westfield logo. Intel has a simple four note jingle that has been its hallmark for 20 years.

As business assets, these branding elements (or mnemonics) are incredibly powerful. Have you have ever gone to buy a long familiar product - then not been able to find it because the packaging has changed? Wouldn't you think that more businesses would be more careful about protecting their valuable brand assets.“If it ain't broke, don’t fix it” - so why change these known and familiar brand indicators.

A deeply embedded memory device can actually help your business. It attributes credit for all of your good work to the correct business. Updating your customers' memory of your business needs to be easily achieved. Your branding identifiers help us do that much more easily, and more effectively.

Branding assets are important and valuable. Before you make any change to any part of your brand identity, think about what the justification you would use to justify the scrapping of your most massive investment.

[Drawn heavily with attribution from Peter James Ryan.]

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