ARTICLE SUMMARY: With stiff competition for everything from products to services it is important to understand your brand’s equity in the global marketplace.
By knowing what your costumers like and want through a data-driven view you will be able to build a killer brand strategy.
In “Realizing Business Goals With Brand Equity Research” by Derrick Daye he helps us to understand what is Brand Equity Research is, and what is involved to arrive at a comprehensive brand strategy. Some of the ways used are
- Measure Brand Progress Toward Vision
- Align Employees
- Build Leadership Buy-In
When you think about the big brands like Amazon, Starbucks and Disney, a lot of behind the scenes research went into making them the giants they are today. All that data from VOC research, customer satisfaction surveys, social media analytics and CRM and sales reports are scoured over and studied in order to keep their customers satisfied, loyal, and their brands on top.
When it comes to branding, having a strategy that rises to the challenges of today’s global economy is a must for our survival.
We would really like to know what you think, let us know in the comments.