Brand asset management (BAM) is the process of safeguarding and promoting a company’s brand identity. This includes both the physical aspects of the brand, such as logos and marketing collateral, as well as the intangible aspects, such as the company’s reputation.
BAM is often overseen by a company’s marketing department, but it may also fall under the purview of other departments such as public relations or corporate communications. The aim of BAM is to protect and enhance a company’s brand equity, which is the portion of a company’s overall value that is attributable to its brand.
A strong brand can be a major competitive advantage, so it is important for companies to manage their brands carefully. Brand assets should be carefully guarded and only used in accordance with the company’s brand guidelines. unauthorized use of a company’s brand assets can damage the company’s reputation and devalue the brand.
When promoting a brand, it is important to maintain a consistent message and look across all marketing channels. Inconsistent branding can confuse customers and make it difficult for them to remember a company’s name or what it stands for.
BAM is an ongoing process that should be regularly reviewed and updated as needed. As the world of marketing evolves, so too must a company’s approach to managing its brand assets.