A Simple Way to Calculate Your Brand’s Value
This thing called a BRAND means a lot of things. And a lot of noise is blasted about regarding how to design them, build them, exploit them — it’s like a discussion about God; there are few things as complex but everybody’s an expert.
Here’s what works for me, being the second son of a cowboy, born and raised with Border Collies, Blue Heelers, and Australian Shepherds. My first exposure to the word “brand” was feeling the white-hot branding iron head welded on the end of a fireplace poker, heat radiating onto my face and up my nose and into my eyes. Then the sound of it sizzling the flank of a tied-down calf and the sound of said calf bellowing out in searing pain and seeing its wild-eyed terror. That’s a brand!
I think our brand is that lingering feeling someone has, down in their lizard-brain after we’ve touched them. If we branded them correctly, it’s a pleasant feeling that, at its best, excites some sharing, and at least ends all that analysis hassle of the buying process. When they see us — the branding in our marketing, that residual feeling butterfly kisses their consciousness. They’ll do business with us when they need us, no analysis needed.
But…. Show me the money!
A simple way know if you have that kind of brand is separate your sales into two piles: the sales you won by out-bound selling activity and the sales you simply took the order with essentially zero selling. The sales from simple order-taking is the value of your brand. What’s your share of revenue is brand-driven?
P.S. And the Sales Process isn’t done until the next sale is simple order taking.