Most companies monitor their marketing efforts, whether in-depth or simply checking that the return outweighs the investment, but it is rare to find a company that monitors its brand. When questioned why, or even how to monitor a brand, I first ask them why they measure any other part of their business?
Of course, the answer is that you want to know the return on investment. If you are not getting the return you predicted then you revaluate, improve your efforts, or try something different. Businesses monitor and measure things that affect the bottom-line.
So why monitor your Branding?
Because it does just that. A great brand is more than just a logo, and a great brand most certainly has an affect on the bottom-line. So just like everything else it needs to be monitored and adapted depending on its performance, otherwise you won’t see the benefits.
What are the benefits?
It is called Brand equity and it comes in a variety of shapes and sizes that can help achieve many of your business goals.
· Increase market share
· Sell at higher premiums
· Helps you attract and hire the best talent
· Motivates staff
· Increase returning customers / increase customer loyalty
The list can go on.
Why we have created the Brand health check
Many don’t realise they have a problem until they look, and many don’t think they have a problem because they don’t know what they are looking for. As mentioned earlier a brand runs much deeper than the visual aspect, so if, like many small businesses, you see branding purely as a visual aspect then you will struggle to make a great brand or be able to improve a bad one. This is why we created the BHC service, to help educate businesses on what their brand is and how to assess its application. Below we have added a few questions to help people get started:
1. Does your brand’s positioning make you unique to the competition?
2. Is your Brand narrative clear and communicated correctly throughout the whole business?
3. As a whole, is the company and its staff communicating with a shared characteristic voice?
4. Does your brand connect emotionally with your customers and employees creating a deeper connection?
If you are interested in learning more about your brand and how it’s performing sign up for a free Brand Health Check by completing the form at the bottom of this page.