So often, marketing and branding are accused of only soft contributions consisting of mostly intangible value. To a certain extent, that's true if you rely only upon opinion and anecdotal evidence, which many B2B brands are accused of. But, in this modern age of real-time data, feedback and interactive connectivity, businesses and brands are equipped better than ever to produce true brand ROI and establish quantifiable competitive differentiation. Really.
Once only considered a consumer analytical tool (mostly because of cost and audience accessibility), now B2B corporations can take advantage of relevant analytics and a proven process to help executives understand the health of their brand and respective value. And more good news, this tool provides quick insight and is not outrageously expensive. We at RiechesBaird have become believers.
Having used this methodology successfully for more than three years (with our research partner), we can now confidently say the information and analytics it's producing are credible and becoming increasingly invaluable to our clients.
So how does it work? It's simple and rational-an online questionnaire is administered to a statically valid representation of your market. Awareness (aided/non-aided) is taken into consideration. Consideration sets are determined, preference is calculated, and intent to buy is measured. Based upon these factors, a Brand Power Rating Index is determined against the competitive set. What's even better, you learn exactly how your competition is performing (according to the marketplace) against your brand and can hypothesize and strategize against the real-time data. Gone are the days of guessing at brand performance and measuring year over year effectiveness.
With the Brand Power Rating System, the next time your CEO or executive team questions how your brand is performing, you can answer--"let's find out."
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