A great brand raises the bar — it adds a greater sense of purpose to the experience, whether it’s the challenge to do your best in sports and fitness, or the affirmation that the cup of coffee you’re drinking really matters.Howard Shultz, Executive Chairman and former CEO, Starbucks
Why start with this quote?
Because it’s about brand in the fullest sense – not just logos and colour palettes – it’s about brand as a defining characteristic of strong companies, a valuable asset that elevates one company above another in the mind of consumers.
And it was uttered by a man who turned a tiny, local business into a global giant worth tens-of-billions, primarily by focusing on consumers’ experience of the Starbucks brand.
This was a brand that wouldn’t have been on anyone’s radar…until it was too late.
Now let’s turn it over to you.
Does your company care about brand? Do you see your brand as a key strategic advantage, that will enable you to generate sustainable growth? Is it an important business asset, one you cultivate, actively work on and champion?
The data suggests you should.
According to Thomson Reuters and Interbrand, three decades ago as much as 95% of the average corporation’s value consisted of tangible assets. Today, 75% of that average corporation’s value is intangible.
And the top 100 brands in the world are worth a staggering $3.64 trillion according to WPP.
Brand matters, and brand is material.
“Consumers build an image of a brand as birds build nests, from the scraps and straws they chance upon” – Jeremy Bullmore, Advisory Board, WPP