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January 3, 2006
Developing a Culture of Brand Performance Accountability
Just as with financial performance, measurement is critical to improvement for brand initiatives. Creating a culture of measurement-driven brand assessments will help executives better understand how to derive the greatest return from their investments.
Moving past the fundamental first step of understanding that brands do, in fact, have inherent value, a measurement-driven brand management culture can positively maximize the brand’s effect on tangible business results in critical areas including customer experience, retention, loyalty, profitability and value.
Moving into these areas in an incremental manner (“slowly but surely”) will begin to provide marketers with the baseline data to pursue key management support as well. Simple steps based on increasing your understanding of your customers, and their interactions with your brand, can be implemented through ongoing research.
For instance, the ability to quantify gaps in organizational alignment behind your brand, or discontinuity in the customer experience (including metrics such as loyalty, drivers of satisfaction, service levels, etc.) by segment, region or product, can – and do – have profound impact at the executive level.
Metrics such as these can have a significant effect on your brand investments, as you better understand perceptions and attitudes, and how these vary by segment… with a particular focus on your most profitable customers…
Posted by MCorp. at 03.01.2006 20:31 | Permalink