Brand valuation is making the most out of your brand by building from that brand. These steps define your brand as well as your assets in cost, market, income, and brand-strengthening approaches. The cost approach is listing all the individual costs, which are documented as the operating expenses. Market Value can be attended to through market capitalization. Other methods are income-value based. And Brand-strength is your competitive gauge. Therefore, it is good to hire these brand value advisors. Here are some tips:
- Research among the top companies as to whom their brand value advisors are or were. This will help you when choosing your own.
- Visit their site online or get their contact information from other companies who have been with them.
- Get to know their credentials, background, and history of work. Who were their previous clients and how did it work out? Fourth, know how much they will ask or if you can offer them a good deal.
- Sign a contract and get started.
Here are some of the well-respected brand value advisors:
- You can find these services at Absolute Brand, which can be found online.
- Advisor Solutions Inc. is a financial, business, and coaching advisor that has designed a proven system that will help any advisor with the structure of their businesses. You can also get a free consultation when you visit their website.
- Global Brands is a leading organization in the consultation world as well as in technology and other outsourcing services. They help you in building, maintaining, and in securing your net. Their services include consultations, auditing, designing, and disaster recovery services. They help you build effectiveness in your strategies, processes, and your other operational systems. They also focus on your core business initiatives.
- GVC’s or Global Value Chains are committed to creating greater precision in analysis, intellectual impact, as well as relevance of policies.
To make sure that your brand perception matches your market’s experience, here are the top five choices in brand perception as Consumerreports.org explains:
- First, is safety. How safe is your product and how tested is it before it gets to the market and now that it is in the market?
- Second, is the quality as well as the reliability and the design of your product. Your consumer will want to use something that he can use for a long time, and if it is quality-tested by other consumers, many others will buy your product.
- Third is value. That is the value they get from their money and the value of the product once it is to be resold.
- Fourth is performance. A good buy is ultimately one with good performance through the years.
- And the fifth, if it is environment-friendly/green as many people are becoming aware.
Brand personality gives life to your brands. The relationship basis model is considering personalities like being down-to-earth, carefree, accomplished, pretentious, and athletic and bringing it out in your products. Make your product a friend to others and let it speak for itself. This is the same as building an image for your brand. For example, if you have a product, say a detergent bar, you should use the personality of a tough man—that is, efficient, functional, and kills germs. If it is a perfume, you can go for more feminine characters or attitudes such as vivacious, energetic, and full of life.