Logos, strap lines, jingles, brand language – they’re all assets that build your brand. So far, so branding 101. But here are two things you might not know. Strong assets help campaigns perform 62% more effectively. And consumers’ attention span is shorter than a Goldfish these days. Microsoft said it, so it must be true.
What does this mean in terms of your marketplace? What role do brand assets have in building today’s bottom lines? And how can you make sure you’re getting them right?
Back to basics…
Brand assets are all of those attributes which, over the long term, build memory, familiarity and emotional engagement. They’re a neuro trigger which builds a relationship with your consumer.
They can be visual – a logo, font, colour or shapes; verbal, in terms of distinctive brand language; or auditory – those sounds or jingles that are aural shortcuts to the brand experience. McDonalds’ ‘I’m Lovin’ It’ four-note earworm or the ‘We Buy Any Car’ jingle are great examples.
Long-running slogans or brand characters are 23% more likely to help a brand increase its market share and profit according to a System One report. That’s because they build long term memory associations which embed your brand experience in consumers’ minds, so they’re much more likely to choose you over your competitors. And, in today’s marketplace, that’s more important than ever before.
Where do we start with today’s consumers? The pandemic has accelerated their digital connectivity. They’re online more than ever. Which means expectations for their digital experience are higher than ever. Which means it’s harder than ever to win their loyalty. Which means their attention span is shorter than ever. One second shorter than the average Goldfish, according to that Microsoft study.
But here’s where brand assets are a bit genius. Their ability to trigger brand recall and engagement quickly is crucial in this marketplace. They are the optimal route into today’s Goldfish consumer brain.
So how do you make sure you’re making the most of their superpower potential?
Your assets need to be clear, simple, exclusive and authentic to your brand, to stand out in a crowded market. They need to feel true to who your audience thinks you are and who you want to be.
Consistently using one colour palette will drive up recognition by as much as 80%, according to a Forbes study. And if you want to get more into colour psychology….33% of leading top brand logos use the colour blue, while 29% feature red. Branded characters can boost engagement recall because of how well they can personalise and humanise functional online services. Research from Kantar shows that brands with strong, emotional indicators have a 55% higher brand equity than others.
Take our wryly humorous, laid-back MrQ character, created for MrQ online casino. He brings the brand personality to life in a distinctive way across TV as well as audio campaigns. You can see MrQ in action on the video below.
Presenting a brand consistently, across all your channels, can boost revenue by 23%, according to Forbes. It makes sense: taking an omni channel creative approach really optimises recall. We call it our ‘All Screen’ approach, where brand assets can be repurposed to perform seamlessly across every touchpoint, to stretch marketing budgets even further. And it’s seen us maximise rich assets for Sky Mobile across TV, digital and social since their launch in 2016 and now they are serving over 2 million customers.
On average, you’ve got to ‘touch’ consumers five to seven times before they remember your brand. So you can’t be in it for the short haul. In fact, the general rule of thumb is that it takes around five years to really build a brand. In terms of how this affects investment, marketing effectiveness experts Binet and Field recommend allocating around 60% of ad spend on long-term, brand building activity and around 40% on short-term sales activation.
Invest in performance monitoring and establish long term measurement KPI’s to ensure your assets build a brand that’s different, meaningful and salient. If you tick those boxes, you’ll capture more volume, command a higher price and have much more potential to gain long term value share.
Do you want to know more about how we can create assets that are targeted, agile and flexible to maximise your brand reach, engagement and market share? If so, give us a call on 01582 881144 or drop us a line at firstname.lastname@example.org. We’d love to chat.