For my entire career, I’ve had to help clients walk the line between the “warm and fuzzy” side of brand-building and the bottom line focus of sales-driven marketing. Some clients were able to see how the two were connect. Others … not so much.
So why the confusion?
I think it’s due to a general sense that marketers have to pick one or the other, when the opposite is true.
This isn’t “The Matrix” – where you’re given a choice between a red pill or a blue pill. No, this is more like “Mad Men” where we should take both pills. And then wash it down with an old fashioned.
But I digress.
In an article that recently appeared in Forbes Magazine (you’ll find it here), they took a deep dive into a Forrester Research study that indicated many “B2B CMOs (i.e. Chief Marketing Officers) may be short-sighted if they ignore building brand equity for their firms.”
According to DipanjanChatterjee, VP and Principal Analyst at Forrester Research, brand equity is the essence of the brand that defines its relationships with its customers, but it’s a hard concept for marketers to grasp: “The challenge that I’ve seen for CMOs is when they begin to talk about brand equity, especially in B2B companies, is it is an amorphous thing – important but squishy.”
Not all CMOs fail to see the connection, though. According to Dell’s SVP of Global Brand and Experiential, Liz matthews, “Building brand equity and growing the business are not mutually exclusive – they depend on one another.”
But why is that?
At BLPR, we believe brand equity is built using a very basic (some might say “fundamental”) formula: keep the promises you make (via advertising, sales calls, collateral, PR, your website, etc.) and you’ll see brand equity grow. People will believe you when you tell them something about your brand. They’ll begin to rely on your brand to deliver the goods/services/value they need.
In the end, they’ll prefer you and your brand.
That is the essence of brand equity.
And we can make that happen for you. Just let us know you want to meet so we can tell you how.