To continue improving and driving your brand’s vision, you need to know how well you’re actually doing.
What progress are you making?
What is working - and what isn’t?
And most importantly, why?
Leadership will demand constant reassurance that the business’s investment in the Brand Alignment Approach is worthwhile. This means you have to be able to prove that the business is improving and that the initiative is generating empirical returns.
Only when armed with this knowledge will you be able to build something sustainable, rooted in continuous improvement.
New era, new needs, new methods
Numbers are key as they help you establish what is working and what isn’t, so you can build a strong platform from which you can reflect and improve.
At the end of the day, if it doesn’t get measured, it doesn’t get done.
But whilst we have moved into a new era of brand building, brand tracking has not maintained the same momentum. This needs to change.
Businesses need a new way to measure their brand; a new method that will align to how the brands are built - through customer experience and user experience - and directly links to Delivery.
This isn’t news to us…
We attended a presentation run by one of the world’s leading brand tracking agencies. It was all very clever, packed full of indices, unique measures and critical relationship analysis. But it was all a bit fluffy.
What did it actually mean?
It all sounded great, but none of it linked back to the way brands are now built.
To accurately measure the customer experience, brands have to combine customer experience and brand building measurements. And data needs to come from a range of audiences and sources…
All live data - from the digital side, the business performance side, and the customer behavioural side - must be collected. It is this that enables the timely and accurate decision making that helps to drive the behaviours of your brand builders.
So the the Brand Alignment Monitor (BAM) was born.
Inspire through internal tracking
For CX realists, the BAM is relatively straightforward and extremely easy to understand.
Using three samples - customers, potential customers and the team - the BAM breaks down into three key elements, based on what businesses want and need to know…
The standing of the brand: according to the brand’s customers, potential customers and the team; how well is the brand aligned to its vision and values? Over time, this will demonstrate the direction your business is moving in and with what audience.
A diagnosis of what is and isn’t working: whatever the trajectory of the brand, you need to know what is and isn’t working. Of course, this will be different for every organisation; the simplest way to identify this is to establish the critical things the organisation has to do to deliver the vision.
Action: understanding what the changes mean in terms of behaviour is critical. You need to be able to monitor propensity to purchase or visit, expected levels of frequency and spend and the impact on recommendation levels.
This is what new era brand tracking looks like.
Once you have this in place, it’s time to measure.
Most tracking systems use a number of different methods, including key indices calculated in specific ways using specific questions. But this can cause confusion and reinforce silos.
Instead, brands needs to understand the methods and computational wizardry required to provide the measures that will help focus resources and increase success.
So how many indices are needed?
Less is more
The most commonly used method for tracking customer experience delivery is the Net Promoter Score (NPS). Developed by Bain, it is used to by many companies at specific points in the CX.
It works by asking people to rank their level of agreement with the statement ‘how likely are you are you to recommend business name to your friends and family’ on a scale of 0 to 10.
A total score of 60 + is considered world class, whilst a total less than 10 is poor.
But in this new era, measurement has to go one step further.
The NPS doesn’t demonstrate the absolute value of the score, or why the score is low, high or in between. It outlines how a business is performing, but doesn’t shed any light as to why. This is why brand measurement methods have to build a diagnosis of the business…
Making an impact
To make an impact and keep the whole business - in particular the leadership team - engaged with your initiative, you must keep up to date with brand measurement.
The way we build brands in this new era has transformed, and it’s up to you to make sure your brand measurement methods align with this…
Choose a method that is easily understood across the business and delivers the information the leadership want - what progress is being made, what is working and what isn’t, and why.
It is only then that you will be able to drive your brand’s vision.
To ensure you’re setup to measure how well your initiative is performing, next week we’ll be looking at the makeup of a good measurement method…