Measuring Your Brand Equity

Brand equity is the value built into a brand by time and capital invested; by both the company and the consumer. It can be measured by overall awareness of the brand and the strength of its adoption by the customer. A brand’s equity comprises both the tangible (do people seek it out and are they willing to spend more on it) and intangible (are they aware of it, how do they feel about it, has it become part of their identity and daily routine.)

The must common means of obtaining customer feed-back are surveys and focus groups, though blogging, chatting and other forms of social media are becoming more prevalent and can be a valuable addition to any discussion of measuring and managing brand.

Idea Distillery can assist you in determining the best way or means to measure your brand equity, which is particularly important if you are merging or acquiring new brands.