Strong brands grow strong businesses
Mike Rocha, Patrick Lopez and Calin Hertioga
By assessing the performance of your brand on each factor, you can identify the biggest opportunities and gaps to close. This will create agreement among colleagues on the quick wins and longer-term activities required to move forward.
The most effective brand valuations aren’t just a point-in-time measurement of value, they create internal alignment and focus on the actions required to grow your brand and business:
Alignment through a process of co-creation and cross-functional workshops.
Focus by diagnosing where the brand is strong and weak and highlighting the biggest gaps versus competition.
Action through the creation of a clear road map of quick wins and longer-term activities that unlock growth.
Brand Strength factors aren’t just KPIs, they’re powerful levers for brand and business growth.
Clarity about what the brand stands for is the condition for growth. A well-crafted, well-communicated, and shared vision of what the brand stands for, who it is targeting, and how it should be experienced is a foundational cornerstone that will ensure the whole business is pulling in the same direction to support growth objectives.
If you want to grow, you’ve got to get people to go with you. That’s where commitment comes in: It’s a shared belief in the brand proposition that encourages people to invest time and energy. Commitment must start at the top for it to ultimately impact behaviors across an organization. And in a world where your brand is only as strong as the experience your customers have of it, ensuring that cross-functional teams beyond marketing are committed to delivering a seamless and coherent experience across touchpoints is more important than ever.
Good governance is the foundation for sustained growth in your business, covering its basic requirements: skills, operating models, and processes. And because growth is continuous, ongoing attention to effective governance is key to keeping your brand on track across your organization’s business units and regions.
We live in a world where change happens faster than ever: changes in customer needs, attitudes, and behaviors; changes in who we see as our competition; changes in how we go to market. To drive growth, your organization needs to be able to anticipate changing market needs, have the agility to adapt and respond to these changes, and fuel constant innovation through dialogue with customers, employees, and partners.
Authentic brands grow fast, but you can’t sustain something that isn’t true. Focusing your brand around an internal truth—a well-defined story and set of values—will resonate with increasingly savvy audiences. How people experience your brand (what you “do”) should be aligned with how you communicate (what you “say”). This supports brand authenticity and binds people to your brand, engendering trust, driving choice, and supporting long-term growth.
To be relevant, you need to meet people’s needs and desires by understanding who they are and how they’re changing. Rooted in robust insights, this understanding will help you make the right choices as you expand. Otherwise, when the market changes, you’ll be obsolete.
A distinctive proposition, creative expression, and unique experience set you apart from the competition—with your brand as the ultimate driver of differentiation. Unless your brand is embedded as a filter for decision-making, you risk making a heavy investment in the customer experience that results in an improved but ultimately undifferentiated experience that will eventually be matched by the competition, eliminating any hard-fought advantages and accompanying ROI. A brand that stands out will create sustainable competitive advantage and drive growth.
If a brand is a promise, then lack of consistency means breaking your promises. Delivering a consistent experience for customers as they navigate across channels and touchpoints isn’t easy. It requires clarity, commitment, and strong governance, but it means you’ll continuously reinforce your key attributes, no matter how your touchpoints multiply.
Maintaining presence in all aspects of people’s lives is how you expand in terms of both reach and influence. Brands bring business strategy to life in a way that humans relate to. So make sure you are part of the conversation and grow your presence to grow your brand—and your business.
Forming long-lasting, profitable relationships provides the solid foundation from which growth is easier to deliver. But it means engaging individuals, having conversations, forming emotional bonds, and fostering loyalty by keeping promises and meeting expectations.
LEVERAGING YOR STRENGTHS TO GROW
Interbrand’s unique brand valuation methodology is a powerful tool to drive growth. With the insight it delivers and a proven process to drive alignment and action within your business, you’ll have the power to create a compelling business case for investment that puts your growth plan into action.