Can You Measure Your Brand?

Back in February I was looking at the way that emotion and facts combine to tell your brand story. OK … it was really just a bit of a rant, but following the link through to a Being Reasonable interview with Robert Passikoff was where the gold lay.

In marketing we love a ratio, or a series of bullet points, so "the 70/30 rule" sounds good. But this particular rule is better than good … it is a rule of thumb that has some credibility. But it is also quite frightening, because it also makes us accountable. Can the marketing work that we do create shareholder value? Can we measure it? We certainly can … but it is not a simple metric as Robert Passikoff explains. But until accountants begin to place "brand equity" on the balance sheet, it is unlikely that there will be much detailed focus on the monetary value of a brand.

All this aside, by focusing on the 70% of your brand story that is linked to emotion, it is clear that the ability to express a compelling story about your brand, your products and services requires a substantial investment in creative services. It also requires a substantial investment in those passionate evangelists who work in your business. Give your customers the facts by all means, but give them also a REASON to choose you over your competitor — give them emotion and passion — and then you will have a story to tell … and a way to measure it too!