Brand performance. Know the performance and strength of the brand.
Strong brands are important intangible assets in enterprises. This statement can hardly be called into question. However, in a company, how well known is the contribution the brand makes to the perception of the company, how much does the brand hold competitors at bay through its strength, how much does it combat a drop in prices through priceworthiness (value for money), or how much does its philosophy bind customers and employees?
Brands that are present and can be experienced have brand performance which, especially in the international B2B environment, provides an opportunity for growth and capitalization. A strong brand is more trusted than a no-name product or a no-name company. A good brand name and sound, holistic branding therefore make an important contribution in the long run and increase brand performance step by step.
A further aspect of brand performance worth considering is the following: When the brand is recognized as an intangible asset in a B2B company and when top management is aware of this value driver, brand-related measures can be just as systematically and soundly decided on as investments in plants and equipment are planned. We at the brand consultancy convey such a basic understanding, because it has positive effects radiating on all business units, and motivates staff members at all levels of the hierarchy and in all business units to make a personal contribution toward safeguarding and increasing brand performance.
Measuring brand performance
Can one measure the value of an intangible asset? Of course, there is a wide spectrum of measurement methods, but they are mainly concerned with brand value. Statements about brand performance, on the other hand, are intended to help identify strengths and, in the sense of “strengthen strengths,” continue to build on these qualities for one’s own advantage. A good starting point here is recording goals and performance indicators in relation to important reference groups of the brand. It is also a way which is close to the market. The key is measuring how customers see the B2B company. It also concerns the question of what the company has to be excellent in to continue to improve performance. It concerns improving and creating value. The view of investors toward the brand is a further component. This yields three perspectives during brand consulting; namely, earnings, market, and company. These three are inputs to the next step, in which strategic branding goals, possible success factors, and finally also measures that serve brand performance are derived.