When managers ask me about guiding their metrics journey, I first ensure they start with the vision for their organization. What is the company aiming to achieve and what should we measure to track that progress? Once you have understood and translated this strategic vision to your team, you can and should explicitly link it to your measurement system. Too often, managers start from the metrics they have instead of the metrics they need. Three...
Brand growth is a key business challenge. Research, such as the double jeopardy revealed by Jenni Romaniuk and Byron Sharp in their follow up book, How Brands Grow Part 2, explains why big brands are and stay big: they don’t just have a larger customer base than small brands do, customers also buy them more frequently than they do small brands (‘Double Jeopardy’).
‘Buying a brand for the first time does not require a major conversion, just a bit of mental availability’ A new brand has to build ‘essential memories’, which are not about the brand superiority or differentiation, but simply what it is (eg a soft drink) and what is looks like (so it can be found). Therefore, it is key to define the category you are in, and that you are a plausible option in it....
Wars always have casualties, but may not always have a winner. This also goes for business wars, particularly when successive price cuts have companies selling below cost.
Growing your brand is a key objective of marketing managers, as strong brands make your company more money, faster and with less risk. They also help you attract the best employees, give you the best deals with channel partners and get the attention of financial investors. But how should you go about growing your brand?
