Measuring Brand-Building Efforts

Viewpoint by Chiaki Nishino, Partner

Most companies have surprisingly little insight into what drives customers to move from awareness to consideration to preference to purchase or where customers tend to abandon the process. And yet, most Fortune 1000 companies spend millions of dollars on marketing year after year. Without an informed point of view on the drivers of conversion from one step to the next, much of this marketing spend is arguably misplaced.

Many companies have information that could inform their perspective here, but they have not exploited the data in this way. To measure the effectiveness of their marketing spend, leaders need to create a clear line of sight from customer perceptions of the brand to customer behaviors to financial impact. This insight affords marketers and management the confidence that the brand perceptions they are building will deliver the financial results they require.