Brand Key Performance Indicators as a Force for Brand Equity Management
University of Chicago
University of Munich
Imagine the branding challenges that a CMO might face as he or she first joins a new company.
The CMO is likely to start by taking stock of how brands are managed by each division and brand group. What they are likely to find is that each group operates in a silo and has evolved different brand practices over time. The brand strategy templates and planning processes probably are different (or nonexistent) across groups. Some brands will have recent brand strategy work and others will not. The methods and measures that each division uses to track brand performance usually are inconsistent and probably sub-optimal. Some divisions might conduct brand trackers that produce key performance indicators (KPI), while others do not. Among those that do, they probably are using different research protocols and tracking different measures as the key indicators of brand success. The lack of corporate consistency is almost certain to exist for multinationals across countries. Finally, it is also likely that there is no corporate level management of the customer, because the divisions are siloed. Hence, silos prevent customer-centric thinking from taking root because a complete view of the relationship that the company has with the customer is probably not being obtained.