Have you ever asked yourself what the most powerful corporations in the world have in common? Nike, Coca-Cola, Disney.. What are they doing to achieve success? The common denominator in these companies is that their success has been driven largely by the strength of their brands.
Your brand is your most valuable asset – there is no question about it. The fact that you have reached this blog means that you probably agree. Taking care of the most valuable asset in your company requires hard work, and your brand in itself consists of several assets that you need to take care of if your brand is going to thrive. So, let’s start with the basics of why a brand asset management system, or BAM system, is important.
Also read: How do you measure your brand’s value?
What are brand assets?
Most likely, you know your brand assets well. But you might not refer to them as brand assets. Logos, slogans, images, colour palettes, these are all brand assets, and should be associated with your brand. In short, any file, no matter the format, that is being used when representing your brand is a brand asset.
For any marketer or brand manager, brand assets are like gold. They are what you use to promote your brand. But they can also be a pain. Because you need to manage them correctly if your brand is to be portrayed the way you need it to, this is where a system for your brand assets comes in handy.
Also read: What is brand management?
The importance of a Brand Asset Management system
So, what makes Brand Asset Management important to your business? Easy. A Brand Asset Management system is important because your brand is important. It’s so important in fact, that presenting a brand consistently across all platforms can increase revenue by up to 33%. And what drives brand consistency? That’s right, brand assets. Take McDonald’s for example. Does the colour yellow ring a bell? McDonalds is one of the most recognized brands in the world. With over 37,000 locations in over 120 markets, you can imagine the long list of things that could go wrong if employees didn’t use the brand assets correctly. In fact, did you know that using a signature colour can increase brand recognition by as much as 80%? That’s why, to prevent your colleagues from going rogue, you need a Brand Asset Management system.
How BAM puts your brand into context
We’ve covered what brand assets are and why they are important. The next step is to talk about brand guidelines. A strong brand is a consistent brand. And for your employees to use the brand assets correctly, they of course need some insight into what the correct practice is. Is your logo always supposed to be in the right corner of images? Are you allowed to put a red logo on a black background? What type of images can you use for different settings? And are you allowed use the colour blue? The first step of making people follow the guidelines is to make them easily understandable and accessible. And even with brand guidelines in place, rules can easily be broken.
BAM puts theory into practice
By now, you should have a clear understanding of what your brand assets are, and you should be aware of the fact that you need to have brand guidelines to ensure that people know how to use these assets. Combining these two is what Brand Asset Management is all about. By connecting the brand guidelines to your brand assets, you are closing the gap between theory and practise.
A common error is to keep guidelines and assets in different locations. What good does it to have a PDF telling you what background your logo can be used on, if you have to scroll through 10 other pages on the intranet or go back and forth on email just to locate the logo? Your colleagues need to have direct access to everything they need to create on-brand material in an instant.
With a Brand Asset Management system, your guidelines become practical and your assets usable – securing brand identity through every stakeholder and channel.
BAM protects your brand
So, let’s just agree right here and now that your brand is your most valuable asset, and you need to treat it as such. Utilizing a Brand Asset Management system for this purpose makes protecting your brand easy. Having everything connected and available in one location allows you to maintain and develop your brand, while giving your colleagues the freedom to use the brand as they need to, without risking brand deviation. Simply put, a BAM system facilitates the perfect combination of central brand management and local brand execution.
In other words, if you want to be a forward-thinking organization with a leading brand, treat and manage your brand assets accordingly.
What should you look for in a Brand Asset Management system?
There are many BAM systems to choose from and all the features and capabilities can be overwhelming and difficult to navigate. But this is a decision of strategic importance, so make sure you choose wisely. At the end of the day, you need to choose the solution that fits your brand and company in the long run. It is therefore wise to do research before you invest in brand asset management.
To get you going, here’s a short list of what you should search for:
- Look for a solution that is created for branding purposes. You might have considered a standard CMS system, but keep in mind that brand guidelines include brand specific content and you want to be able to put everything in context and create a durable and sustainable brand asset management system. Remember we spoke about connecting your assets to your brand guidelines?
- Look for a solution that allows you to create digital brand guidelines that matches your company and your brand needs. You will come across systems that are static and perhaps even free, but no brand or company is the same. If you want to grow a leading brand, you need to invest in it.
- Look for a solution that can handle all brand assets. Brand assets are more than static images and illustrations, and enabling central brand consistency with local execution demands flexibility. You need to make sure your assets can be tailored to local needs without involving you or risking your brand’s identity.
So why is BAM important for your business?
A BAM solution streamlines your branding processes and company operations, and it enables you to secure sustainable growth for your brand. This is the future of brand management. If you would like more hands-on insight into what Papirfly’s BAM solution can do for your brand, we’re happy to show you.