I came across this awesome blog on branding by the Blake Project which offers truckloads of fabulous advice and insights on the art and science of branding. This is probably one of the best blogs on marketing which I have seen. What's great is that they do offer lots of free stuff too.
How does one measure brand equity? There are many ways to do it. Interbrand-Businessweek's methodology is probably the most famous for listed companies, and many marketers are familiar with their Top 100 Global Brands.
I personally like the approach which Blake Project has adopted. According to them, there are five key attributes which drive customers' brand insistence, namely:
2) Relevant Differentiation
5) Emotional Connection
This is very nicely encapsulated in the following chart:
Courtesy of brandstrategyinsider.com
What I like is the emphasis on emotional connection. This is a fundamental component of any strong brand, yet most brand measurement systems neglect it altogether, preferring to focus on the hard numbers like dollars and cents. Over the long term, how a brand performs will inevitably depend on how much emotional capital it has invested over the years with its customers and other stakeholders.