4 Elements of a Brand Manager’s Marketing Scorecard

 

Do you want to build a strong brand presence in the market? If so, you need to create a brand strategy roadmap.

However, do you know how to build such a roadmap? If not, we suggest you consult a brand consulting firm. The professional team of brand managers will help you create a brand strategy roadmap and ensure you achieve all your goals while removing any key blockers with the right strategies and tactics.

But how does a brand manager from a consulting firm track the success of the brand strategy? It’s simple! They maintain a scorecard. A brand manager’s scorecard is unique to each business they work with. Here are 4 elements of this scorecard, ensuring you can track your progress.
             

Brand Wealth

A brand manager’s scorecard will have all the details about your current brand wealth and how much you want to grow in the upcoming fiscal year. It will include your net sales, profits, growth margins, and market spending.

You can compare your estimates across these 4 to 5 metrics for last year and this year. Based on the results, you can tweak your brand strategy to achieve your goals.

Brand Health

How is your brand performing compared to your competitors? Brand managers at leading brand marketing agencies measure your brand health to compare it to competitors and your goals. It will include tracking consumer awareness, market share, purchase consideration, repeat purchases, frequency, and penetration. You can track your progress across these metrics for last year and this year.

Mental Availability

An effective brand strategy will keep a keen eye on brand communication. How much are you spending on advertisements, online and offline? What percentage of your target customers recall your brand advertising? Are your consumers connecting to the main message? Is your brand message unique and prompts a purchase intent? A brand manager will compare these metrics over last year and this year.

Physical Availability

The last element of a brand manager’s scorecard is the physical availability of your product. It includes distribution of your product, e-commerce sales, product display at outlets, average price, and percentage sales on deals and discounts.

Conclusion

Creating a brand strategy is essential, but tracking your progress is critical to your brand's success. Brand managers at a prominent branding and design agency will maintain a marketing scorecard and track your progress across these 4 elements.

So, connect with brand consulting firms and get started on developing and creating a strong market presence.

Learn more about brand consulting at https://willoughbydesign.com/

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