In view of the fact that a brand, even in the B2B sector, can account for up to 40 per cent of the value of a company, it is advisable to assess its effect and its function (i.e. to carry out a brand scan) on a regular basis.
In principle, the brand is under the influence of two main spheres: the internal environment within the company (primarily, the staff) and the external environment (market, customers and competitors). That’s why at this level we make a distinction between inside/out and outside/in.
A brand scan involves an analysis of both areas. A comparison is then made between the final results. The greater the similarity, the stronger the impact and the anchoring of the brand, and the greater its contribution to the added value of the company.
During a brand scan procedure, one takes a close look at the touch points within the brand. This involves the 4R analysis, a technique which carries out an internal as well as an external assessment of the following four factors:
1. Relationship
What measures aimed at establishing and maintaining a relationship are being associated with the brand or perceived as its added value? The focus is on experiences and services. In this regard, it is worth pointing out that in the B2B sector, the importance of the service aspect as a brand distinctive feature has been steadily increasing. The relationship analysis is carried out both internally and externally.
2. Retrenchment
The retrenchment analysis focuses on two factors: technology and convenience. It tries to answer the following questions:
a) To what extent can the brand capitalise on technological developments for the benefit not only of the learning process within the company, but also of its relationship with customers?
b) How much credit does the brand get for doing so?
In addition, this analysis measures the convenience of the brand by asking the following questions: a) How convenient is it to work with the brand? b) What benefit(s) does such a convenience bring?
3. Relevancy
The third scan deals with the ‘relevancy’ factor. The aim is to determine to what extent the brand expresses the company’s experience and knowledge and what kind of evidence it provides in this connection. This analysis throws up very useful information on differentiation potentials that have not yet been tapped into and moreover gives an opportunity to assess the merchandising of the brand: does the brand manage to draw attention to itself (i.e. does it achieve visibility) outside its traditional product or service sphere?
4. Reward
At the fourth stage of the analysis, it is the reward system of the brand which is placed under scrutiny. Reward takes the form of prestige and time. Prestige stands for generation of an emotional added value for all those who come into contact with the brand. The time factor can also translate into a very important added value for the brand (especially from a customer’s perspective), a value which is closely related to the aforementioned convenience.
The final stage is devoted to an assessment of the visual identity of the brand in the light of the results of the 4R analysis. It is about finding out whether the core messages of the brand accurately reflect the activity as well as the internal and external perceptions; whether the brand promise really highlights its decisive competitive edge; and whether the communication initiatives create a clear brand image.
The more disharmonious the brand scan results, the lower the motivation potential for people to adopt the brand, to enter into a relationship with it or to collaborate with it to create innovations. Such a disharmony represents a great risk for a company in terms of insufficient or wrong perception, which in turn may lead to a decline in value. On the other hand, a brand scan can suggest completely new approaches that can make the brand even more appealing to both the staff and customers and that can contribute to an even clearer differentiation. By exploiting such motivation potentials, you will increase the value of your business.
By Richard Bush, MD, Base One