Just because your logo has been around for a long time, doesn’t mean it has equity.
Have you ever watched Antiques Roadshow? On the program, guests present their collection before an appraiser. The expert examines the item(s) and assesses a value. I don’t know about you, but I’m lousy at predicting outcomes. I am always fascinated how a seemingly ordinary trinket can be worth thousands of dollars. What makes the difference?
The value of an antique, or a brand for that matter, boils down to three main factors: provenance, rarity, and quality.
Provenance
In the antique world, provenance refers to the history of the item. Provenance validates an authentic item or exposes a counterfeit. Provenance makes seemingly ordinary objects extraordinary. A Fender Stratocaster guitar might not be all that special, but what if Eric Clapton played it when he recorded Layla? A pen is just a pen until it's used to sign the Declaration of Independence.
Brands are no exception.
A Teflon-coated, clam-shell grill might not be a desirable household appliance, but what if a former boxing heavyweight champion puts his name on it? Duracell appears to be just be another battery until you learn it’s “trusted everywhere”. Although Chevrolet has been steadily losing market share over the years, recent ads from the company showcase its rich heritage–focusing on provenance. Not a bad move.
Rarity
Scarcity increases demand. While this may seem obvious with respect to collectables, a lot of brands don’t get it. Focusing too much on the actual product or service, they neglect highlighting the unique aspects of the brand. After all, Nike sells sports apparel, Coke sells soft drinks, and Marlboro makes cigarettes. When you get right down to it, these products aren’t unique, but the brand is. Does a brand really make that big of a difference? Perhaps if we can answer this question by looking at the most ubiquitous commodity on the planet: water. In 2007, Aquafina (a division of PepsiCo) sold $2.17 billion worth of tap water, making it the largest supplier of bottled water. Yes, that’s right, water! H2O.
Quality
What kind of condition is it in? This is where presentation matters. How has your brand been treated over the years? The first issue of The Amazing Spider-Man might be worth thousands of dollars, but how much would it be worth if someone spilled coffee on its 50-year old pages? As you keep your brand and its image sacred, others will treat it with the same respect. Take a look at the FedEx logo in a Comic Sans font1:
It’s instantly cheapened. You would never see it used that way. Keep your brand in “mint condition” through consistent usage. You never know where it will be seen or talked about, so make sure its always looking its best.
1 Original idea for replacing famous logos with the Comic Sans typeface provided by this short documentary