The world's best brand management companies treat their brands like other major corporate assets, according to a new report from business research firm Cutting Edge Information. The report shows how top companies adopt formal brand management strategies to maximise the value of their brands.
The new report, Maximizing Your Brand Value, shows how companies increase their shareholders' value by strengthening their brands, examining business giants such as Coca-Cola, IBM, General Electric, McDonald's, Boeing, Gucci and Wal-Mart. They all recognise the value of their brands beyond day-to-day marketing, achieving long-term competitive advantage based on their customers' loyalty to their brands' image and reputation.
Featuring innovative practices from 45 top companies in 14 industries, the report reveals how one consumer goods company started its rebranding effort with the explicit goal of making itself the most interesting and most trusted brand in its marketplace. Building on elements of its traditional marketing, that company launched a multimedia campaign aimed at developing closer relationships with customers, vendors and franchisees. As a result, the company enjoyed great success and has seen benefits in several key indicators:
· Greater sales per location;
· More franchisee applications;
· Coupon-based CRM system in place, driving up per-customer sales;
· Greater sales in off-peak time periods.
Billions of dollars added
Jason Richardson, CEO of Cutting Edge Information, says that "these companies create billions of dollars in shareholder value with smart branding," and that this is the result of the knowledge and service economy in action: "your reputation is more valuable than your factory or your lab. B2B and B2C customers want reliability and quality - and your brand reminds them that you have both."
The online summary of this report, and the key five principles for brand management success, can be found at the Cutting Edge web site by clicking here.