Okay, what all of us involved in branding have been telling clients for years is true. Brands add value despite despite slowdown (BBC News, 29 April 2009).
Every year Millward Brown Optimor publish their Brandz Top 100 survey which compares the balance sheets of leading brands with public sentiment about those brands.
“In the current environment, where the value of many businesses has fallen, brand has become even more important because it can help to sustain companies in tough times,” says Millward Brown Optimor’s chief Joanna Seddon.
It’s paradoxical that for many companies when times are getting tough, they tend to cut expenditure in just those areas that can give value to and sustain brands, supporting the sentiment that the public feel about them. There is the natural response to cut anything which s not going to show positively on the balance sheet. But perhaps CEO’s should also look at the ‘brand balance sheet’. That is brand leadership… look after your brand and in hard times your brand will look after you.