We always tell people how tangible your brand can be, if it’s managed correctly. This really hit home in a recent episode of the popular T.V series, The Profit. Once a multi-million-dollar company, Farrell’s ice cream found themselves losing money, facing bankruptcy, and management couldn’t understand why.
They called in Marcus Limonus, The Profit, to help. With such mounting losses, Marcus would never typically invest in such a venture. One thing changed his mind: the Farrell’s brand was worth something. It was worth his investment and the brand was their collateral.
The value of successful brands (BrandX) continue to outperform the S&P index year over year. It drives loyalty, preference, premium pricing, distribution channels, and revenue. Farrell’s newfound success can be distilled down to one primary goal: representing their brand.