« Growing Customers the Old-Fashioned Way: Acquiring and Keeping Them. | Main | Changing Your Brand with the Times: Ask Jeeves Takes a Page From The Donald and Tells Butler, “You're Fired!" »
December 5, 2005
It’s Time to Move Brand Measurement Up the Priority List
The importance placed on measuring an organization’s ROI on branding (and customer perceptions and attitudes towards it) appears to be far less than that placed on ROI for marketing or customer satisfaction initiatives.
While brand value, and the ROI on investments in it is indeed very difficult to measure, organizations must understand their brand and the value associated with it to be successful in today ’s ultra competitive environment. This is of particular importance in commoditized industries such as banking and financial services: your brand, and your customer’s relationship with it, is all you’ve got.
The fact that it isn’t easy to quantify and measure shouldn’t relegate it to the bottom of the priority list. Instead, marketers should eagerly grab the opportunity to acquire statistics on their brand, which can put them well ahead of their competition when it comes to identifying market opportunities, and positioning their organizations to take advantage of them.
Posted by MCorp. at 05.12.2005 20:21 | Permalink
Comments
I couldn't agree more. If marketers want "a seat at the table," then accountability is vital. Though what marketer isn't measuring his or her work? Metrics are a vital part of useful marketing and branding -- for tuning the program and for gaining executive buy-in and budget.
Posted by: DJHowatt at December 15, 2005 2:04 PM
Amen.
Posted by: olivier blanchard at December 29, 2005 10:00 PM