Q

We are considering a brand refresh – positioning, identity, advertising and naturally this requires a big investment. I am preparing a report for my board. How do I measure the ROI on this investment?


A
Answered by Meeta Malhotra

The answer to that is fairly straightforward:

  1. Decide a set of KPIs which should be impacted by the brand refresh.
  2. Measure them before the refresh to establish a baseline
  3. Measure them after the refresh

The tough part is deciding which KPIs to measure. Most all relevant metrics are driven by melded factors from advertising spends to operational efficiencies. Each industry will have its own set of metrics. I recommend identifying 2 buckets of KPIs:

Brand-related: Awareness, familiarity, relevance, consideration, image…standard brand track stuff. Remember to factor in a discounting factor for any change in communication spends.

Revenue-related: Stock price, sales, conversion.. these are tougher to attribute to brand alone but should still be on your radar

 

 

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