We wrote in a recent blog article on best practices for branded asset management that in our experience, a typical brand transition requires accounting for (and devising a replacement strategy for) hundreds or even thousands of branded assets. (We define branded assets as any physical asset that displays a logo or a company name).
What are the Top 10 Most Overlooked Branded Assets?
With a variety of tools, templates, and 15 years of expertise in brand implementation, BrandActive helps companies undergoing a brand change to avoid overlooking items that can result in unforeseen costs, delayed launch schedules, or loss of credibility. It’s surprisingly easy to neglect a few assets here and there, so if you’re planning a healthcare industry brand transition, be sure your inventory includes these top 10 most overlooked branded assets:
- Legal and financial documents (DBA filings, checks, invoices)
- Prescription labels or receipts
- Hospital bed sheet linens
- Back pocket of uniform scrubs
- Local sport arena sponsorships
- Voicemail and phone tree recordings
- Fire escape route signs
- Awnings branded to the legacy color of the organization
- Regulatory signage branded with the color of the organization (stop signs, nonsmoking signs, etc.)
What are the Consequences of Overlooking Assets During a Brand Transition?
The consequences of overlooking assets during a brand transition can range from relatively harmless to serious, but all are best avoided. What’s the budgetary impact of overlooked items like linens and scrubs that aren’t included in smart ‘deplete and replace’ approaches? What happens when a sponsored event or a branded sports arena that carries your outdated corporate logo is spotted by a board member or other VIP?
A well-managed brand transition depends on a complete and thorough asset inventory. It provides the basis for accurate cost estimation and is the foundation for the development of a comprehensive implementation strategy. So commit to avoiding issues by gathering the right information from the start. BrandActive utilizes a rigorous data gathering approach; for example, because we’ve worked with clients in multiple industries, we’ve developed ‘typical’ asset lists by industry sector. We’ve also created a tool called SignHub that allows for geotagged (location-based) signage assessments that enable the efficient management of signage conversions.
The Key to Success: Gather the Right Data and Analyze it Properly
The bottom line is, organizations often have lots of data. The key to success is ensuring you gather the right data and analyze it properly at the outset of your brand implementation planning. Without it, branded assets can be overlooked, resulting in compromised brand compliance and loss of cost control.