By Peter Weedfald | Posted on October 02, 2013
When you boost your brand’s short and long term value, competitive dominance and market demand, you boost overall earnings. And as I like to say repeatedly, “brand is a promise.” Your brand currency needs to be shined, primped, pruned and protracted competitively each and every day. As we know, a brand’s greatest power is empowered through its products, in the face of competitive pressure and market opportunity. And under any brand umbrella is emotional capital, the flame needed to build brand infatuation.
An important part of the art of the possible in building brand muscle, empowering consumer demand is measurement. Seems measurement is so easy and forthcoming in our cloud based initiatives but still daunting outside of the internet. The tried and true brand measurement formula I have deployed for years still works according to several of my colleagues:
Brand Campaign Performance ROI = Product Revenue X Profit Margin / Cost of Advertising
This simple ROI calculation is an incremental campaign metric to be measured against previous campaigns and results. CFOs value this brand-specific formula as useful for measuring pilot marketing campaigns, A/B test splits, social campaigns, incremental brand value and product sales measurements inclusive to consumer enhanced promotional drive periods. Smart focus on brand value ROI (return on investment) takes into consideration the following:
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Peter Weedfald: President of Gen One Ventures, Author: Green Reign Leadership