What is brand asset management?
Brand asset management (BAM) is the process of organizing, storing, protecting, and distributing a company's brand assets to ensure their proper and effective use. The purpose of brand asset management is to simplify the process of storing, updating, and distributing the digital resources that represent your brand. Although it is like digital asset management, BAM is specifically concerned with managing identity assets, as opposed to all digital materials. Like digital asset management platforms, BAM platforms eliminate the complexities of managing multiple versions of files and the uncertainty that comes with it. This underscores the importance of a well define digital asset management strategy within comprehensive brand asset management practices.
Why is brand asset management important?
No matter how large your company is, its brand is the most valuable asset regardless of its industry or location. Brand identity is not limited to just a logo or a mission statement; it requires a wealth of specialized and approved assets to build a strong brand. Managing these assets requires the use of specialized tools.
Preserving and providing these assets is crucial to effective marketing. Brand asset management is a vital process that turns a mission-critical task into a successful one. Often, you may require brand asset management tools to properly organize and work with such assets.
II. Identifying Your Brand Assets
What are brand assets?
Brand assets are design and marketing creatives that communicate a company's identity and are easily identified by customers. They encourage immediate association and aid in distinguishing a brand from its competition.
Consumers enjoy brands for a variety of reasons, including the comfort a brand's product or service inspires, the simplicity of decision-making, and the social standing a brand brings. Your branded assets will allow you to build a relationship with consumers as they seek to meet their demands. The more they see your brand assets, the more they will recognize you.
According to the International Food Information Council, familiarity influences food purchasing decisions for 33% of US buyers. When it comes to purchasing on prominent platforms like Amazon, 23% of consumers prefer to do so since it is familiar.
What constitutes brand assets?
Brand assets include both digital and physical content. It is generally images or sounds, but in some cases, even odor can be a brand asset. Brands need to identify the elements that make their brand unique to consumers. Identifying brand assets involves recognizing and categorizing the various elements that contribute to a brand's identity.
Here are some common brand assets:
A logo is a visual representation of a company's brand. It is typically a symbol or design that is easily recognizable and represents the company's identity. A great example is Apple’s iconic logo, known for its simplicity and minimalism.
Tagline or slogan
A tagline or slogan is a short phrase or statement that conveys the company's message or value proposition. It should be memorable and help differentiate the brand from its competitors.
A company's brand colors are the specific colors used in its logo, marketing materials, and website. They should be consistent across all channels and help create a visual identity for the brand.
Fonts and typography
A company's chosen fonts and typography also play a role in its brand identity. They should be consistent across all marketing materials and help convey the brand's personality and tone.
Imagery and photography
Images and photography used in marketing materials can also contribute to a brand's identity. They should be consistent with the brand's values and messaging. For example, the famous Windows XP background, called Bliss, was the most viewed photograph on earth and one of the most expensive photographs ever sold. The iconic image has become synonymous with Microsoft’s Windows operating system.
Voice and tone
A company's voice and tone are the style and personality conveyed through its marketing messages. It should be consistent and appropriate for the brand's target audience. For example, Wendy’s Twitter account is known for its savage tweets and replies.
Marketing collateral refers to any physical or digital materials used to promote the brand, such as brochures, business cards, and social media graphics. They should all be consistent in design and messaging. Marketing collateral can be memorable brand assets that help establish brand identity.
Why is it important to identify brand assets?
Identifying brand assets is essential for building a strong, consistent brand identity that stands out in a crowded marketplace. It helps to create a positive brand experience for customers and contributes to long-term success for the business. Here are 5 key reasons why you want to identify brand assets:
- Consistent customer experience: By identifying brand assets, businesses can ensure that all of their marketing materials are consistent in terms of design, messaging, and tone. This consistency is essential for building a strong brand identity and creating a positive brand experience for customers.
- Brand recognition: Consistent use of brand assets helps to build brand recognition, making it easier for customers to identify and remember the brand.
- Differentiation: By identifying and highlighting unique brand assets, businesses can differentiate themselves from their competitors and create a distinct brand identity.
- Efficiency: Properly identifying and organizing brand assets can streamline the marketing process, making it easier to create new marketing materials and reducing the risk of errors or inconsistencies.
- Protection: Identifying brand assets also helps to protect a company's intellectual property by ensuring that all its marketing materials are properly branded and protected from infringement.
III. Organizing and Categorizing Your Brand Assets
Why should you organize your brand assets?
Organizing and categorizing brand assets is important for several reasons. It ensures consistency in design, messaging, and tone, streamlines the marketing process, facilitates collaboration among team members, and protects a company's intellectual property. Properly organizing brand assets from the outset can help businesses scale with growth and avoid potential issues in the future.
- Helps you stay consistent: By organizing and categorizing brand assets, businesses can ensure that all of their marketing materials are consistent in terms of design, messaging, and tone. This consistency is essential for building a strong brand identity and creating a positive brand experience for customers.
- Streamlines workflows: Properly organizing and categorizing brand assets can streamline the marketing process, making it easier to create new marketing materials and reducing the risk of errors or inconsistencies. It also saves time and effort when searching for specific brand assets.
- Enables creative collaboration: Organizing brand assets can help facilitate creative collaboration among team members, departments, and external partners. By having a centralized location for brand assets, it is easier to share and collaborate on projects. Brand asset management software comes with built-in creative collaboration tools to simplify the process.
- Better protection of assets: Properly organizing and categorizing brand assets can also help protect a company's intellectual property by ensuring that all its marketing materials are properly branded and protected from infringement.
- Helps you scale better: As a business grows, so does its need for marketing materials. By organizing brand assets from the outset, businesses can ensure that their brand assets can scale with their growth and avoid potential issues down the road.
How can you organize and categorize your assets?
You can categorize your assets by type. Here are seven simple categories that you can organize your brand assets into.
- Visual assets: These include logos, color palettes, typography, images, and other visual elements that are used to create a brand's visual identity.
- Brand guidelines: These are the guidelines that define how the brand assets should be used in marketing materials. They include instructions for logo usage, typography, color usage, and other visual elements that help maintain consistency across all marketing channels.
- Digital assets: These include all of the digital files associated with a brand, including images, videos, audio files, and other multimedia assets.
- Marketing collateral: This includes all of the marketing materials that a company uses to promote its products or services, including brochures, flyers, business cards, and other printed materials.
- Social media assets: These are the assets specifically designed for use on social media platforms, such as profile pictures, cover photos, and other graphics.
- Product design assets: These are the assets used to create the product design, including packaging design, product labels, and other product-related materials.
- Brand voice assets: These include messaging, taglines, and other written content that define the brand's tone and voice.
What are the best practices for organizing assets?
When you are trying to organize a high volume of assets, it is better to get yourself brand asset management software. It helps businesses to centralize their brand management processes, ensure consistency across all channels, protect their intellectual property, and optimize their branding strategies with efficient workflow management software. Brand asset software currently also incorporates AI and ML technologies to simplify workflow and eliminate tedious tasks.
Here are some best practices for organizing brand assets using AI-assisted brand asset management software:
- Use auto-tagging and auto-categorization: AI-powered systems can automatically tag and categorize assets based on their content, making it easier to find and use them.
- Leverage AI-powered search: Use AI-powered search functionality to quickly find specific assets based on keywords, colors, or other attributes.
- Integrate with other tools: Integrate intelligent brand asset management software with other marketing tools, such as design software, project management tools, or social media management tools.
- Use analytics to optimize asset usage: Analyze data on asset usage and performance to optimize your asset library and improve your marketing efforts.
- Automate workflows: Use automation to streamline workflows, such as approval processes, content distribution, and other routine tasks.
- Implement version control: Keep track of the different versions of your assets to ensure that everyone is using the most up-to-date version.
- Centralize your assets: Store all assets in a centralized location, such as a digital asset management system, to ensure easy access and sharing.
- Use permissions and access controls: Restrict access to certain assets based on role and permissions to ensure that only authorized team members can access and edit certain assets.
- Review and clean up at regular intervals: Periodically review your asset library to remove outdated or unnecessary assets and ensure that everything is properly organized.
IV. Protecting Your Brand Assets
Brand asset protection is critical because it helps to maintain brand consistency across all marketing channels, prevents unauthorized use and misuse, ensures legal compliance with trademark, copyright, and patent laws, and preserves brand value. Copyright laws protect original works of authorship such as images, videos, and written content, whereas trademark laws protect brand names, logos, and slogans. Patents protect inventions and give the owner exclusive rights to make, use, and sell them. Monitoring brand assets is also critical for detecting unapproved use or misuse, preventing counterfeiting or infringement, and ensuring brand consistency.
Brand asset management software can be used to protect brand assets by providing centralized storage, access control, usage tracking, copyright and trademark management, version control, and other tools. The significance of brand asset management is that it helps companies make sure their brand assets are consistent, enables them to adhere to regulatory compliance, and simplifies secured sharing.
V. Using Your Brand Assets
Why should you use brand assets consistently?
Consistently utilizing brand assets is crucial for developing brand recognition and trust. Customers are more likely to recognize and remember brands when brand assets are consistently used across all marketing channels.
Along with reinforcing the brand's values and messaging, consistency fosters customer loyalty over time. Consistently utilizing brand assets can also aid businesses in standing out in a crowded market and differentiating themselves from rivals.
How do brand guidelines and style guides help stay consistent?
Brand guidelines and style guides provide clear and comprehensive instructions on how to use brand assets consistently and effectively. They specify the precise design principles and guidelines for how the brand should be represented visually, covering things like logos, typography, color schemes, imagery, and other design elements.
Regardless of who is producing the marketing materials, brand guidelines and style guides aid in maintaining consistency and professionalism in brand communications. They offer a common understanding of the brand's visual identity, which designers, marketers, and other stakeholders can use as a reference.
Let’s have a look at a few examples:
What are the best practices for using brand assets?
While it completely depends on the brand and its preferred workflow, here are five practices that you can adopt easily when using brand asset management software.
- Utilize high-resolution assets that are formatted and optimized for each marketing channel. Make sure that collateral is approved before it is posted online. Using a brand asset management solution, you can gather feedback and develop faster.
- To ensure consistency and professionalism in all marketing materials, adhere to brand guidelines and style guides.
- Brand assets should be tested and optimized to ensure they are effective and engaging.
- Use brand assets in creative and innovative ways while remaining consistent with the overall brand image.
- Train employees and stakeholders on how to use brand assets effectively and follow the overall vision and values of the brand.
VI. Measuring the Effectiveness of Your Brand Assets
Why would you want to measure brand asset effectiveness?
Measuring the effectiveness of brand assets is essential for building a strong and effective brand over time. Here are 5 reasons:
- It helps to determine which brand assets are resonating with your target audience and driving engagement, and which ones are not.
- It provides insights into how well your brand assets are supporting your overall marketing goals and business objectives.
- It enables you to optimize and refine your brand assets over time, based on data-driven insights and feedback.
- It helps to justify the investment in brand asset creation and management, by demonstrating the impact on the bottom line.
- It enables you to benchmark your brand's performance against competitors and identify opportunities for differentiation and improvement.
What are the metrics for measuring brand effectiveness?
The better the brand assets, the better your marketing campaigns. By using a brand asset management solution that integrates with CRM solutions, or other MarTech solutions, you can easily measure how effective your marketing campaigns are, and in turn, how effective your brand assets are. A brand asset management solution can thus help you take data-driven decisions.
Here are six metrics that you can use to measure brand effectiveness.
- Brand awareness: measures the level of recognition and familiarity with your brand, typically measured through surveys or social media metrics.
- Brand equity: measures the perceived value of your brand compared to competitors, typically measured through surveys.
- Engagement: measures the level of interaction and engagement with your brand assets, such as likes, shares, comments, clicks, or other forms of engagement on social media or other digital channels.
- Reach: measures the number of people who have been exposed to your brand assets, such as website visits, ad impressions, or social media reach.
- Conversion: measures the number of people who have taken a specific action because of engaging with your brand assets, such as making a purchase, filling out a form, or signing up for a newsletter.
- Return on Investment (ROI): measures the financial return on investment of your brand assets, typically measured through revenue, sales, or profit.
These are just some of the many metrics that you can track to measure brand asset effectiveness. Often the metrics that you will require depend on your business operations, target audience, and marketing objectives.
What are the best practices for measuring brand asset effectiveness?
When it comes to measuring the effectiveness of brand assets, here are some ways in which you can improve the metric analysis.
- Set clear objectives: Establish specific goals and objectives for your brand assets, such as increasing brand awareness or driving more conversions.
- Choose relevant metrics: Choose metrics that are relevant to your objectives and align with your overall marketing strategy.
- Use a combination of quantitative and qualitative data: Use a mix of data sources, such as web analytics, surveys, social media metrics, and customer feedback, to get a complete picture of the effectiveness of your brand assets.
- Track progress over time: Monitor the performance of your brand assets over time to identify trends and patterns, and to measure the impact of changes or optimizations.
- Benchmark against competitors: Compare your brand asset metrics to those of your competitors to gain insights into industry trends and identify areas for improvement.
- Use data to optimize: Use data-driven insights to optimize your brand assets, such as adjusting messaging, design, or targeting.
- Continuously refine your approach: Use the insights gained from measuring brand asset effectiveness to continuously refine your marketing strategy and improve the performance of your brand assets.
Measuring brand asset effectiveness is a crucial part of building a strong and effective brand over time. These practices, when paired with the right software solution, can allow businesses to gain insights into how well their brand assets are performing and continuously improve their marketing strategy.
Brand asset management is complex, but it does not have to be challenging. The best way to incorporate brand asset management in your business is by using a brand asset management solution. If you want to see if BAM is right for you, get a demo today.