At a recent panel on Branding in asset management, I was asked how you can calculate the value of your brand. Sadly, the answer was not a simple x+y=£. In fact, since researching the topic further I found there is no one clear answer to how you value your brand equity and show its worth on the balance sheet.
Such are inconsistencies in how you measure, protect and grow your most valuable asset – your brand – that it makes it very difficult for heads of marketing to demonstrate the value of marketing investment. Well that was until now.
Described by Forbes as the marketers ‘golden ticket’, the International Organisation for Standardization (ISO) has recently announced a new global standard for evaluating brands. This is great news for both marketers, investors and CEOs as it could mean, at last, we do away with the flippant comment that marketers don’t know which 50% of their marketing works.
With all the evaluation metrics we now have available and an agreed international standard for brand equity valuation, we now have the tools at hand to demonstrate ROI and how brand and marketing can create significant value for both the business and their shareholders.
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