08 Jan Tips for brands in 2021
Whiplash Team, 8th January, 2021
Tips for brands in 2021
Christopher Smith, CEO and founder of Brandsmith offers his view on the importance of the intangible assets of brands in a video published this week in elmundo.es. A consolidated and strong brand, regardless of whether it is a large organization or an SME, is the most important asset of a company.
The latest report from the Brand Finance consultancy “Why brands matter 2020” leaves no doubt about the importance of intangible assets for the recovery of companies in the context of the global COVID-19 pandemic. Intangibles are, by definition, “those things that cannot be touched but add value to products, society or the organization”. Christopher Smith explains this in the video published by The Vodafone Observatory of Companies in the SME section of elmundo.es
Smith briefly describes the keys to building solid brands that clearly show their purpose and relate to society, pointing out that branding is not just for big consumer brands. Brand building, understood as something strategic, directly connected with the purpose of organizations, is something which every company, from startups to large corporations, must dedicate time and resources.
Smith suggests a mental experiment in which he proposes that, if today there were a catastrophe that destroys all the Coca-Cola factories, the company would only need to “present a paper showing that it owns its brand so that a bank could loan it the necessary money to rebuild them”.
But for Smith, mid-size companies do the best job in terms of brand building, and he outlines what small businesses should do and what the competitive advantages are in terms of branding.