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Brand Asset Management in 2022: Process and Benefits
Businesses that can effectively market their products and services to clients enjoy better brand association and consumer loyalty. But the opposite is also equally true – companies that invest in brand management seem to have longer-lasting customer relationships, leading to higher AOV and Customer Lifetime Value.
Brand management is a growing field that allows companies to assess their marketing strategies and control public perception of their image. A recent report by SpendEdge shows that companies are pouring money more than ever into brand management, and the end is nowhere near in sight, with expected growth of the industry to $1bn by 2024.
Like a significant marketing component, brand assets are elements that help individuals identify with a specific product or service. They represent a company’s values and help marketing campaigns stand out from those produced by their peers.
How Does Brand Asset Management Work in 2022?
Modern businesses need up-to-date brand management practices. In 2022, many organizations have access to dedicated teams that make it easier for decision-makers to serve brand-related content to consumers.
Because of the enormous amount of online and offline channels companies have to deal with these days, brand asset management in 2022 is supported by a lot of software and industry-specific tools that allow teams to:
- Collaborate faster
- Communicate across departments
- Optimize approval processes of brand materials
- Distribute brand marketing materials across internal and external channels
Brand asset management is changing how companies find, create, organize, and distribute their most important assets. By looking at available resources and determining their value, marketing and growth managers can create robust marketing solutions that represent their businesses.
To set a practical brand asset management framework in place, companies need to take a few steps:
Identify, Audit, Reorganize Your Brand Assets
When marketing to consumers, it’s essential to consider how they will remember your brand. By evaluating the parts of your brand that are expected to be communicated, brand asset management gives you a better understanding of how specific elements will impact consumers.
- Identify: Identifying which brand assets are most important to the company by looking at where they are used and how often they are used, such as logo, colors, imagery and messaging.
- Audit: The next step in creating a brand management framework is to audit the most important brand elements and determine which ones need to be updated to your latest brand guidelines or sent over for re-design.
- Reorganize: Define where they belong and how they should be used. Brand asset management tools and software give users the ability to take stock of and sort out their available assets effectively.
If you’re a marketing or growth manager who needs to have a clear picture of your available resources, then brand asset management is an excellent solution in 2022.
Make Brand Assets Accessible to All Relevant Parties
Even if brand assets exist and are well organized, they may be inaccessible by specific employees, without requesting access from a particular departments.
Brand asset management systems have become an important choice for many team members with user-friendly tools and software for storing and accessing necessary resources. The easy sharing features provide quick access to essential assets, and makes it easier to scale services for new and existing customers.
This makes it easy for large enterprise brands, where marketing managers have to deal with many partner campaigns. By implementing these systems, brand assets are distributed much faster and easier.
Streamline the Process
It quickly becomes difficult to allocate resources for consumers across multiple channels. For marketing and growth managers, this can lead to major obstacles that limit growth and prevent proper services from being carried out. Relying on manual processes results in a chaos of lost assets and version confusion. Such as sharing assets over email or a messaging tool, or relying on basic cloud storage that requires manual organizing and labeling of assets. Furthermore, centralizing all work through single decision maker creates tedious bottlenecks and extra work for one person.
With brand asset management, you can easily create and deploy brand assets to any location, no matter what the situation.
Digital Asset Management vs. Brand Asset Management
Asset management is an important aspect of marketing that encompasses many diverse areas. While brand asset management is an integral part of successful marketing campaigns, deploying without the proper digital assets would be difficult.
What is brand asset management as compared to digital asset management?
Digital asset management (DAM) is a business process and technology to organize and access media assets from a central system. On the other hand, brand asset (BAM) management take the hassle out of storing and sharing materials that define an organization’s branding information. A DAM contains brand assets, complementing the BAM. BAM adds value to brand leading to quality brand equity.
The Benefits of Having a Brand Asset Management System
Businesses that lack good communication and outreach are often left without the necessary resources to compete, especially in saturated markets. Successful brands have continuous messaging, better legal accountability, and a broader level of user interaction.
Brand asset management creates brand consistency, leads to improved compliance across channels and partners, and provides easier oversight and control to get more done by marketing and growth managers.
Better Brand Asset Management with MarcomCentral
Brand asset management represents a central part of any successful business. That’s why MarcomCentral’s personalized brand management services are trusted by companies worldwide.
With MarcomCentral, brand asset management is as easy as the click of a button. If you’re a marketing or growth manager who wants more from your brand, look no further than MarcomCentral. We have everything you need for successful marketing campaigns. Don’t wait; get a quote to see your options today!