Successful brands are quickly identified by distinctive features, such as the yellow McDonald’s arch, the Coca-Cola bottle, or the Apple logo.
All those elements that define the identity of a brand; colors, font, slogan, packaging, etc. – end up creating value for these companies. These are therefore brand assets: what distinguishes a brand and stands out from others.
Of course, these famous brands have taken years to build a strong, coherent and easily recognizable visual identity. Every entrepreneur now dreams of having a unique identity that consumers instantly recognize.
This is why it is very important that you identify and recognize the strengths of your business and use them to your advantage. If you’re not sure where to start, let’s look at four hallmarks that will help you identify (and make the most of) your brand assets.
The name speaks for itself
A business or brand name is usually the first contact a consumer or potential customer has with your business. So you should be thinking: is an anagram created in honor of your wife or a cute word that only you and your partners know the meaning a good name for the company to stand out?
A brand name can be an important asset when it speaks for itself. You immediately know what Google or Nike are referring to, even if these names have nothing to do with the products these companies sell.
So evaluate your business name and try to understand if it is memorable and if consumers can associate it with what you do.
Sometimes a unique name (like your last name) is enough, and sometimes a word that creatively describes your business is even better. But there are times when literally selling what you make (think Home Depot, The Body Shop, or Whole Foods) is still the best way to get popular.
When naming or renaming your business, think of something that lets the consumer understand why you exist, and you won’t have to spend a dime on marketing to create meaning from scratch.
Design and color scheme
The design and color scheme of your company logo are among the most important assets of your brand. A consumer immediately identifies a brand like Chanel just by two intertwined Cs, or Coca-Cola by the color red.
As they allow quick and easy recognition of your business, the logo and brand colors should be created with great care and planning. Recent surveys have shown that consumers can only recognize their favorite brands by primary color or some form of logo – and because of the quick identification, they naturally trust these companies more than others.
Researchers have also found that people form opinions about companies or products within the first 90 seconds they come into contact with the company name or logo.
Therefore, a distinctive design and color palette are key elements for your brand to stand out from the competition and be recognized faster.
You can make your logo and color scheme better known by hiring the services of a reputable company or manufacturer to create unique printed marketing materials, such as t-shirts, pens, or mugs with your brand name. . A company like Quality Logo Products, one of the leading online companies specializing in the printing of branded products,
A company’s strategic marketing positioning is also a major brand asset. Big companies can invest millions in advertising and attack on all fronts, running massive campaigns in traditional and digital media. But how can small businesses differentiate themselves from their competitors’ offerings?
If you don’t have enough funds to reach all consumers, it’s best to specialize by being one of the biggest (or THE top) brands in your category. Instead of focusing on all customers, direct your energies to the right audience – the one your product or service is aimed at.
Think of interesting messages and slogans that reach your target audience and always try to promote your brand differently and more creatively than your competitors.
Let’s start with an example: Several companies sell pet food, but recently some brands have discovered that it is possible to add value and gain new market share by offering pet food made from ingredients completely natural. Thus, unique products or services are a company’s most important brand asset.
If you are in a company that has a lot of competition, it is essential to use your head and your creativity to define ways to stand out from other companies and have a unique product to offer.
Suppose you find it difficult to create something different. In this case, you can also stand out by offering a higher quality product than your competitors, giving consumers the idea that if they are going to invest in this particular product, they need pay a little extra for yours as it is guaranteed to be unique and of the highest quality.
Stand out and shine
Brand assets are all those things that help define and create the uniqueness of your business. When effective, they put you ahead of the competition, making identifying customers much faster and more natural.
But distinguishing your brand from all the others selling the same products or services is slow and hard work. After all, it’s not enough to have an easily recognizable logo or creative and differentiated packaging.
It is the combination of these different elements that creates a unique identity. So start paying more attention to the four elements above to help create a connection and loyalty relationship with your customers.