How much is your brand worth?

Published September 8, 2014 at 8:56 am

How much is your brand worth? This is a pertinent question for most any company, but the answer is hard to pinpoint. Your brand represents your company values, it’s who you are and customers make immediate connections with your company depending on how it has been branded.

But can the true value of a brand actually be defined? This question is posed in a recent article for the Economist. The article discusses how Imperial Tobacco, which is the fourth-largest manufacturer of cigarettes in the world, is planning to spend billions of dollars on expanding its business in the United States.

While it seems to be agreed upon that a brand is extremely valuable, the article notes an important part that there is something about brands that gives them an “ethereal” quality, making it difficult to define them as an asset.

The article goes on to describe that there are varying opinions about brands, with some in the business world believing customers are no longer thinking about brands, while others might exhibit extreme loyalty to a particular company.

While the original purpose of brands “was to assure consumers about the quality of a product or service,” today consumers may not always see it that way. As has been discussed previously on this blog, consumers today look to make a personal connection with brands. Brands that are able to foster these emotional connections stand to build stronger relationships with their customers.

However, in the modern marketing landscape, there are many ways to reach customers. With the help of automated marketing software, companies can be sure they are covering a wide reach while delivering high levels of personalization.