We’ve touched on the subject of brand value in a previous post, but it’s a deep enough topic to call for its own article. What exactly is brand value, and how do we shape it in our marketing, our products, and the way we do business?
Exploring Brand Value
I found a great definition for brand value over at BrandDirectory. It’s defined as “the net present value of the estimated future cash flows attributable to the Brand”. In non-business speak, it means how much money your brand name brings, and how much it could be worth in the future.
This is of special interest to us because a brand is not a tangible asset – it can’t be weighed, counted, and tallied like iron or corn. Its value exists only as far as it is perceived to exist by consumers and the market at large.
How does one increase the value of an intangible asset? Well, we make people feel like it’s worth more.
This is where the quality of your assets comes in. There are entire industries – fashion, for example – built around the fact that people value things that look good. A Burberry jacket has no practical advantages over a Tesco jacket – sometimes even less. However, buyers will clamor to pay ten times for Burberry what they would in Tesco.
Why? Because of the assurance of quality.
It’s also important to understand that brand value is not an inherently deceptive idea. Many more hours, more skill, and much more expense go into designing and producing a Burberry jacket; the investment on behalf of its manufacturer is far greater. As such, quality is understood as proportionate to the resources, wealth, and skill of whoever produces it. These are all attributes that add to a company’s perceived brand value and marketability – you definitely want them working for you.
Video and quality
As discussed in our last article, text – especially poor quality writing- is a relatively cheap asset. Though it’s extremely useful for getting your message across, only a skilled (and expensive!) copywriter can turn plain words into a tactile, emotionally-charged brand builder for your business.
Video, on the other hand, has an inherent sensory impact that adds to the emotional experience of your content. Music, movement, colour, and voice all work together to provide next-level communication and persuasion. This rich experience reflects positively on your brand as a whole. It steps up your perceived value and gives the impression of quality.
More than this, video is an opportunity to open a window into your corporate culture. With quality character design, great voiceovers, and strong art direction, you can make your audience feel like they’re getting a first-hand look into the world of your business. This helps you build trust, compliance, and a real connection with your audience.
For more information on quality design, feel free to get in touch with us at the studio here.