November 3, 2017

Brand Asset Evaluation

The importance of brand asset evaluation for improving sales


Brand asset evaluation is a very necessary means for measuring your brand value amongst your target audience. One the one hand, you need to measure whether your brand is still up for future growth potential – and on the other hand you need to make sure your brand is sufficiently differentiated against your competitors. In other words, the brand asset evaluation explores whether your brand is still distinctive, relevant and popular enough. And if your data shows this isn’t the case… It might be a good idea to opt for a package design change. And it’s here where Haystack would like to step in!

Changing your pack design: pro or contra?

Obviously, this depends on a lot of different factors. But it is important to understand the pressure every brand is under: private labels are taking up more and more market share, which results in a lot of competition and confused customers who cannot make up their minds because there are so many choices. In other words, there are plenty of reasons for trying to reinvent yourselves – and win those clients (back)!

Read here how Friesland Campina tackled this challenge!

Packaging is the silent seller

And it’s exactly because of this, that it might be a clever idea to update and rejuvenate your pack design. Especially when you have the idea your brand hasn’t got the necessary distinctive brand assets. These fellas provide associations in the memory structures of consumers – and help them with the decision-making process. And this distinctive brand assets could be anything: a color, a font, a shape, a visual, … Some great examples of very distinctive brand assets? The shape of the classic glass Coca Cola bottle – or the golden McDonalds arch.

Why distinctive brand assets are important for pack design changes

When designed and marketed properly, these very distinctive brand assets can instantly evoke an association with a brand, without even the necessity of the presence of the brand name or complete logo.

So why is this important for possible pack design changes? Well, when we shop, we choose primary on colors and shapes in a very fast and intuitive manner. Even more so: words and numbers are barely used in this selection process because we want to decide as fast as possible, without thinking too much. And there you have it: the most important part of all… Make sure you don’t change an important distinctive element of your package design – because the wrong choice might hinder this intuitive buying process, which may cause a drop in your sales figures.

Changing your package design overtime is a necessity, but don’t go overboard with revolutionary changes!

And if you’re only going to remember one thing considering the matter of a timely brand asset evaluation… Please, let it be this one!
So, by now, we already know that package changes are often needed to help your brand survive and/or grow. A thorough brand asset evaluation will be necessary for making sure you are standing out in the crowd, in an up-to-date and attractive manner.

However, it is important you do consider the already known distinctive brand assets of your pack – and make sure you don’t destroy or eliminate the ones that are intuitively linked to your brand in the memory structures of consumers. Make sure you keep on evolving, without losing your recognizability.

Kellogg’s knows best

One of the nicest examples of a package design change done right, would absolutely be Kellogg’s. When you compare the 70’s pack with the 00’s pack, you might think of the changes as quite revolutionary. But! When you look at how they got there… You’ll notice that the distinct brand assets were kept throughout the complete timeline: the red, the image of the rooster, the font of the brand name, the flakes, … They just kept changing all of it very slightly throughout the years, upgrading where needed. And this is exactly how you need to act as well!

Kellogg's

 How do I proceed when I want to brief my design agency?

Well, first of all, it’s of the uttermost importance you brief your agency very well, and don’t be afraid to go into excruciating detail. You need to make sure the assigned team gets a very clear view on your brand and its distinctive brand assets – so they don’t lose sight of these very important elements.

When you turn to Haystack for help, we’ll handle following two-step approach:

#1 The auditing phase

We start off with the collection of all the pack assets through an auditing phase, driven by quantitative research. For this, we have developed a technique that we call the ‘Symphony Of Senses Toolkit’. This kit will collect all the assets that’re going beyond the visual: how does it feel, sound, whether it’s familiar for people and whether it’s linked to your brand solely or more to the product in general, … We’ll make a grid with all the collected elements, and plot them on two axes: the familiarity of the element on the X-axe – and the link with your brand in specific on the Y-axe.

#2 An online study of the different assets

When all of this is done, phase two can commence! Here, we’ll conduct a valid online study of all the different assets we’ve collected. We will quantify them so you get a clear guideline map on:

  • Which elements are key and absolutely have to be kept in the new and improved pack design.
  • Which elements can be changed without harming the already made associations in the brain of the consumer.

A new and improved pack design as a result? Yes, please!

There you go: when you’re considering changing your pack design, make sure you’re doing it the right way! And you know what? When you decide to invite Haystack over, you’ll be making the right choice. We promise!

Questions about brand asset evaluation and how it might help your company reach higher levels? Make sure to contact us: we’d love to answer each and every question!