The Secret to Successful Brands
Understanding where a brand sits in the mind of the customer is essential for any brand owners looking to grow their brand and create successful brand strategies.
Brand Equity is a construct designed to reflect the real value that a brand name holds for its products or services. Measuring your brand’s equity is the ultimate measure of brand health because it drives sales, market share and overall profitability.
Many brand owners mistakenly believe that simply measuring their brand awareness and usage is sufficient to understand the strength and potential of their brand. Unfortunately, this is not the case and does little to help brand owners develop the right strategy. In this email we take a look at BrandVision and how to reliably measure Brand Equity on a more wholistic level.
Measurement And Tracking
BrandVision is a brand equity measurement tool and measures 8 of the most important attributes (KPIs) for ultimate brand health. The key benefits are:
• Easily identifies the right strategy to grow and improve your brand profitability
• Designed for both B2B and consumer brands
• International – readily transfers across countries and cultures
• Provides a single metric for tracking and comparison purposes
• Normative database allows you to compare your brand with others
Vision One’s Brand Equity Wheel is one of the most forward thinking brand equity evaluation tools available – designed to help brands optimise their brand and success. The brand wheel helps brand owners by focusing on Key Performance Indicators (KPIs) that are widely known to have a tangible effect on brand health.
The Brand Pyramid is a powerful marketing tool used to assess the purchase journey of your customers. By mapping your brand you are assessing the strength and weaknesses of your customers’ decision journey.
Brand Values and Meeting Customer Needs
When customers evaluate a product or service, they often weigh up the options when making decision which to choose. Trying to understand this process and how well brands meet customer needs has historically been difficult, until now.
BrandVision explores the most important needs for any category and evaluates how well your brand performs against a unique list of 25 emotional and rational needs. Take a look at a few of our interesting case studies covering brand equity such as; British Airways, Weetabix, GiffGaff.
Introducing Brand Archetypes
Developing a strong brand requires developing a strong brand personality. Just like people, your company’s brand has a personality, which will determine how customers connect with you and whether or not they want to do business with you. Brand Archetypes are important part of understanding your brand personality.
Take the quiz on your brand and find out your archetype!