The Brand Equity Index
“How do you quantify the value of a brand?” This question often comes up when executives are deciding whether it’s time to invest in their brand—and again, when they ask, “What does that even look like?”
But first, a quick review—your brand is more than your logo and colors. Your brand is what people think about when they think about your product or service; it’s your promise to your customer, and it helps to distinguish your company from another.
So what’s the value of your brand? Much like measuring the ROI of brand , brand equity can also be managed and measured. We like to look at the a number of factors when evaluating the strength of a brand including:
Do your clients and customers know what your company does?
Do potential employees want to work with you?
Do other companies want to partner with you?
Are you and the company leadership team seen as an experts in the field?
Do people understand your company’s personality? (Yes, with more and more channels out there, personality counts.)
Do people talk favorably about your company?
(If you answered yes to most of these, you’re in good shape).
So how does this connect to your PR and content strategy? Simply stated, a communications strategy will amplify your brand equity index. Specifically, PR and content should be reflective of your brand—it should help to position you to effectively communicate what you do, your personality, and expertise.
It should also help to inform the goals (and ultimately, measurement) of your communications strategy.
After all, PR and content without a specifically stated goal is just noise.