What Makes Brands Great
I spent over six fun and educational years as the Global Director at Interbrand, the leading brand consultancy. As you may know, Interbrand publishes an annual report on the Best Global Brands ranked by brand value. Their methodology is rigorous and the most respected of the brand valuations models. From a more qualitative view, they suggest 10 attributes that are drivers of brand value…here they are:
CLARITY
Clarity internally about what the brand stands for in terms of its values, positioning and proposition. Clarity too about target audiences, customer insights and drivers. Because so much hinges on this, it is vital that these are articulated internally and shared across the organization.
COMMITMENT
Internal commitment to brand, and a belief internally in the importance of brand. The extent to which the brand receives support in terms of time, influence, and investment.
PROTECTION
How secure the brand is across a number of dimensions: legal protection, proprietary ingredients or design, scale or geographical spread.
RESPONSIVENESS
The ability to respond to market changes, challenges and opportunities. The brand should have a sense of leadership internally and a desire and ability to constantly evolve and renew itself.
AUTHENTICITY
The brand is soundly based on an internal truth and capability. It has a defined heritage and a well grounded value set. It can deliver against the (high) expectations that customers have of it.
RELEVANCE
The fit with customer/consumer needs, desires, and decision criteria across all relevant demographics and geographies.
DIFFERENTIATION
The degree to which customers/consumers perceive the brand to have a differentiated positioning distinctive from the competition.
CONSISTENCY
The degree to which a brand is experienced without fail across all touchpoints or formats.
PRESENCE
The degree to which a brand feels omnipresent and is talked about positively by consumers, customers and opinion formers in both traditional and social media.
UNDERSTANDING
The brand is not only recognized by customers, but there is also an in-depth knowledge and understanding of its distinctive qualities and characteristics.
Check out all of Interbrand’s studies at www.interbrand.com.
