How to Quantify Your Brand

BRand can be QuantifiedYou can’t quantify brand!

Or can you?

We collect brand stories and outcomes at Brand Brain Trust that frequently defy the idea that you can’t hang an analytic on Brand.

The latest addition to the web site tells the story of TSA Pre-Check. You’ll learn how this service offered by a company you never heard of came to Anvil, Portland’s award-winning integrated marketing agency. Anvil rose to the challenge of generating a specific number of sign-ups for the year. They finished Q2 by obliterating the goal for the quarter and surpassing the entire goal for 2016.

What does it take to quantify a brand?

  1. Clear measurable objectives.
  2. Triggers that get actions you can count
  3. Practical and emotional value

Measurable Objectives:

For TSA Pre Check it was a specific sales goal to be delivered within one year. You should definitely have a sales goal. But you might also consider:

  • Having a gateway. Try incorporating a hard to get to way to get in touch with you or enter your establishment that requires social research on the part of the prospect. Keeping count of those that pass through the gate is your key analytic but you could also look at sales per visit or the number of services utilized.
  • Identifying and targeting meetings with ideal clients. Consultants and coaches continually need to develop relationships with prospects. Setting a number to identify and make contact with makes sense. Both numeric goals can prove to be predictors of business growth when your closing ratio and Lifetime value become known.
  • Stop counting intangibles. Take a tip from Montessori schools and use concrete terms. If you count actual items sold or given away you’ll be better off than merely counting customers that entered your store or your website. But, when you combine the two you’ll find yourself figuring out how to add value to everyone that enters.

Triggers that get actions:

TSA Pre Check took advantage of long wait time headlines and the fact that prospects were searching for TSA  Pre Check on Google. Beyond Key Word Research you might look at:

  • Borrow interest from the news. Mars research by NASA spiked requests for Mars Bars in supermarkets when a rover mission was reported. Year over Year data and anecdotal reports quantified he sales increase.
  • Become part of your prospects daily grind. Have you noticed how your local McDonalds is now the McCafe or how KitKat bars are tagging along with coffee?
  • If you offer services, adopt the good, better and best pricing and product presentation. Give ‘em the bare bones that solves their problem for x dollars and call it Basic. Build a Premium package that is priced at 2x, delivers everything in the basic and also provides a real value. Then put together a Platinum program. Price it at least 6x and make sure it includes way more than the prospect might want. (that way, you can let them add individual items from it to your Premium plan and make almost as much for the add-on as for the Premium plan alone.

Build in practical and emotional value:

The practical value of TSA Pre Check is that you don’t have to stand in those long lines at the airport. The emotional value is that you don’t feel like you’re on the Bataan Death March anymore. Other ways you can take advantage of human nature:

  • Make sure that if your product depends on a connection to a story that “everyone knows” that you provide a hang tag for the product that recaps the story. You’ll find the Time in a Bottle story on the Brand Brain Trust web site next week. Without the hang tag your product doesn’t sell as well.
  • YouTube videos that get the most views tend to have the words “How To” in their titles. Those that go viral also “How To” (Google: How to shuck corn) Other possibilities include questions like “Will it Blend?” or “Will it Crush?” from Arnold Shwarzenegger with over 4 Million views.
  • Show your emotions to get a reaction. Another YouTube example is the story of Dave Carroll’s run in with United Airlines. They smashed his $3500 guitar. He spent nine months negotiating with United over compensation and they lawyered up and refused him. He wrote United Breaks Guitars, posted it on You Tube. in 10days it was viewed over 3 million times. It was one of the top ten viral videos of 2009.

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Jerry Fletcher is the founder of www.BrandBrainTrust.com  His consulting practice, now in its 26th year, is known for Brand Development, Positioning and business development on and off-line.

Consulting: www.JerryFletcher.com
Speaking: www.NetworkingNinja.com

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