The Five Keys to Effective Management of Branded Assets - Signage, Point of Sale Material and Internal Merchandising

Some of the most important assets for any retail business are those that promote their brand in the retail environment. These branded assets usually consist of signs, point of sale material and internal merchandising units. Many Australian companies find the effective management of their brand to be a difficult challenge. This article aims to shed light on common issues and provide realistic solutions to this challenge.

1. Examine the consistency of your brand image in the retail environment

Causes of inconsistency

• The company does not have a definitive guide to the application of the brand image in the retail environment.
• There are inconsistencies of the brand image in the retail environment; in terms of the actual image, size, materials, colours and location.
• There is a lack of central control for the application of the brand image within the company.
• There is a lack of maintenance of the branded assets in the retail environment.

 Solutions:

•     Introduce a branding manual, with complete specifications for an approved family of branded assets for the retail environment.
•     Ensure all suppliers have access to the correct branding manual to guarantee consistency.
•     Check all work upon completion for compliance with the branding manual guidelines.

 2. Assess the level of protection or maintenance provided to the brand image

Causes of lack of protection/maintenance:

•     The person responsible for the brand image is not responsible for the branded assets' ongoing maintenance.
•     Funds have not been allocated for the ongoing maintenance of branded assets.
•     The department responsible for maintenance has a low level of brand awareness.
•     Poor branding and maintenance requirements are not reported by the outlet management.

Solutions:

•     Raise awareness of the importance of branding across the organisation.
•     Put in place systems to manage the brand in the retail environment for its entire life cycle.
•    Bridge the gap between the communication of the brand to the consumer and its representation in the retail environment.
•     Ensure there is an allocation of funds to maintain the brand image in the retail environment.

 3. Determine whether the branding strategy is coordinated or disjointed

Causes of a disjointed branding strategy:

•     The brand image is implemented by different departments or regions.
•     Communication of the company's branding strategy is not well documented.
•    External influences cause a change to the presentation of branded assets in the retail environment, e.g. council/landlord/regulatory restrictions.
•    Budgetary restraints compromise the brands presentation and consistency in the retail environment.

 Solutions:

•    Publish a branding manual, including a family of branded assets suitable for the retail environment.
•     Make the branding manual available to all managers and suppliers and ensure any updates are communicated to each recipient.
•    Centralise control of the brand image application to the department responsible for the integrity of the brand.

 4. Ensure the best value is being achieved for the branded assets

Reasons for not achieving best value

•     There is no competitive quoting process for each job, possibly due to resource restraints.
•     There is no co-ordination of national purchasing for standard products.
•     There is no assessment of the supply chain to identify areas of cost reduction.

Solutions:

•     Gain competitive quotes from the market for each job using thorough specifications outlined in branding manual.
•     Standardise products and co-ordinate national purchasing to gain volume discounts.
•    Cut out unnecessary links in the supply chain and introduce direct procurement where possible.

5. Identify the level of branded asset control

Outcomes of absence of asset control mechanisms:

•     There is no register of branded assets.
•     Maintenance work that is carried out on branded assets is not recorded.
•     There is no control over the condition of branded assets and the actual brand they display.
•     Life expectancy of the branded assets is shortened due to neglect.
•     A register of branded assets would need to be compiled whenever a re-image is required.

Solutions:

•     Implement a register of branded assets in the retail environment.
•     Record a history of maintenance work carried out on each branded asset.
•    Identify branded assets where no maintenance has been carried out in the maximum permissible time frame and assess the situation.
•     Keep branded asset register up to date, eliminating the need for a national survey when a re-image program is undertaken.

This article aims to enlighten readers to see their branded assets in the retail environment as more than just signage, and hopefully these solutions can help your company gain the most value from your branded assets.