Building and maintaining brand equity over time is not an easy process, businesses often lose focus and purpose which slowly erodes the value of the brand. A review of a company's public brand collateral and customer touchpoints can help keep the business and those working for it, going in the positive direction.
Evolving companies are under constant pressures as they adapt to shrinking budgets, restructuring, finding new markets, or developing new products. With these changes, it's easy for a company to lose sight of its original vision. This visual impediment can sometimes create operational performance issues, customer dissatisfaction and confusion that can weaken the brand experience.
Accumulativly positive and negative experiences can curve the perception of the brand which influences its strength accordingly.
Measuring brand strength
Quantitative measurement of a brand's strength is a difficult concept to attain because of its abstract nature. However, a brand is made up of several identifiable variables that touch people when exposed to it. By identifying and rating these touch-points through surveys, observation, and customer interaction, a company can hone in on and speculate as to how to repair areas that are eroding brand strength.
Typical variables used to measure brand strength:
- Awareness and recognition
- Company and product distinctiveness
- Company's tone and voice
- Consistency (messaging, products, service)
- Quality & reliability
- Brand preference
Characteristics of a strong brand
- Messaging and identity is consistent, clear, engaging, unique and resonates with all stakeholders
- Messaging reflects the company’s positioning strategy and is aligned with the brand’s core values
- Brand strength is built through communications tactics and collateral
- Brand image is being reinforced internally and externally
- Strong internal communications, everyone knows the mission and values statement
- Company consistently delivers what is promised
- Comprehensive graphic standard is respected and followed
Characteristics of a weak brand
- General helplessness as company adapts to changes in the market, restructuring, leadership & strategies
- Inconsistent identity and messaging has undermined the unique position to the brand in the minds of stakeholders
- Mergers and acquisitions have over complicated the brand architecture
- Messaging doesn’t make sense any more and may be confusing stakeholders – position, mission, value
- Vision of the future is not clear
- Competing on price price rather than value
- No internal pride or understanding
- Lack of stakeholder energy – have become cynical
- Lack of self worth and acceptance of failure
- Difficulty retaining best personnel
- Growth without a plan (fill a short term market demand)