Companies with an Advanced Brand Orientation achieve better results in terms of turnover and growth, among others.
The more brand-oriented companies enjoy higher profitability. This is one of the conclusions that emerges from the one developed by the Forum of Renowned Spanish Brands and Summa Branding, with the support of the Spanish Patent and Trademark Office and the collaboration of Iberinform.
? This afternoon we attended virtually the presentation of the study “Brand orientation and business performance”
? Made by and with the collaboration of e
— MarketingDirecto.com (@mkdirecto)
The study, which has been presented this afternoon in a virtual event, aims to identify the variables that define brand orientation, analyze its correlation with business performance and establish a «Brand Orientation Index».
Brand Orientation, explain the Leading Spanish Brands Forum and Summa Branding, is a corporate attitude that places the brand and its purpose at the center when making decisions both internally and externally, and that has nothing to do with the size or activity carried out by the company.
“Brand orientation is fundamentally a matter of attitude, a mindset, a way of understanding and behaving”
? Conrad Llorens () in the presentation of the study «Brand Orientation and Business Performance»
— MarketingDirecto.com (@mkdirecto)
The study has identified up to 70 key variables that define Brand Orientation grouped into: Philosophy (how the brand is understood in the organization), Governance (how the brand is organized and managed) and Conduct (how the brand promise is acted on and delivered).
Next, we collect a series of practices that characterize brand-oriented companies:
- The CEO and top management believe in the value of the brand and drive its relevance to the entire organization
- A brand culture is actively spread throughout the company and to new employees
- The brand is defined at a strategic level and its positioning against the competition is constantly reviewed
- Brand managers and all functional areas are aligned for consistency across all touchpoints
- Constant innovation in the brand’s value proposition in order to generate differential value
- Even in times of cuts, the brand is endowed with investment, support and resources
The study reveals that companies with an Advanced Brand Orientation achieve better results in your turnover, growth, profitability or job creation, registering up to 43% more growth in the medium term and greater job creation (22%), being 40% more profitable and up to 4 times more productive.
On the other hand, the study provides companies 10 recommendations to put the brand at the center of business strategy which we detail below:
1. Guide the whole organization an attitude towards the care and brand value
2. Connect the brand with business strategy
3. Monitor the core, origin and principle of the brand: its own strategic definition
4. Promote marc culturea throughout the organization
5. Involve the high direction and encourage the participation of CEO in the dissemination of brand culture
6. Act in a coordinated manner and aligned from all areas
7. Regularly check that the value proposal is differential and relevant
8. Bet on continuous innovation, linked to the value proposition and purpose
9. To invest on the brand and support it, also in difficult times
10. Manage the construction of a full experience inspired by the value proposition
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