In an organization, the brand is one of the topmost intangible assets that provides 20 percent market capitalization value. It has been seen in the business practices that organization more focus and looking after their tangible assets like company’s equipment and factory building because it provides the 45 percent market capitalization value. So many entrepreneurs seek to the question that how they can prove the importance of investment in the brand of the board.
Organizing and proving your brand will help you to provide the strong brand value to your business. The manager of corporate marketing and communication Loes Verhoeven share some tips for the strong brand organization that include:
- incorporate your business strategy with your brand strategy
- give more attention to the execution
- Do not work for consistency but try to implement coherence.
- negotiate your brand
- effectively utilized in house expertise and define individual role and responsibility
- Make your brand performance measurable.
It has been found that strong branding has put the positive effect on company performance and success by influencing employees, customers, and investors. It has also been seen that 82 percent investor has strongly believed that branding strengthens and brand recognition is considered the most important thing in their investment decisions.
it is important to confirm that required approval from your brand is achieve in order to keep your brand alive, relevant and evolving related to the business strategies. In the boardroom, you required to explain to them in financial terms so that they easily understand how the strong branding put the positive influence on the bottom line of business.
There are different approaches or way through which you can successfully communicate your branding through obtaining the required factual performance data from multiple departments, to streamline processes, decide a benchmark of your brand over your competitors and finding out your brand culture and how it effects on your brand.
Leverage Factual Performance Data
There are different departments in the organization that hold the huge amount of data that demonstrate how brand influence on the bottom line of business. After then these data are converted into some tangible insights that you can present at your board meeting in the boardroom.
Now there is a need to understand who hold data and information sources in an organization you can tap into and present in the boardroom. Like in digital marketing team hold strong data and information about online presence as well as your HR department have data about what element or component attract high quality customers toward your brand.
There is also a need to understand or set the criteria what include in good brand performance look like for your brand as well as try to gather data related to this so that you can present your brand in your dashboard in the boardroom.
Streamline and Simplify Processes
In your brand organization you should also understand how you communicate and control your brand assets and resources.
Today business used different advance tools and technology in order to rationalize and simplified the processes and get the benefit of coherency. Like an organization allow access to their brand portal to all team members so that they get updated or the same data in all over the globe in different time zone. This is ideal for authorization and help to make marketing and branding tasks faster to accomplished. It will also influence on bottom line effect which can directly impact on productivity, resources and expenditure are optimized.
Benchmark Your Brand
While writing and present your business proposal demonstrate at the board meeting the comparison of your brand value with your competitors. The board of directors is the very important role in the business proposal so there is a great need to understand how your brand can contribute to growing your business. To understand this thing you have to present and explain to them where your brand is stand in the marketplace.
At the board meeting, there is also a need to update board members with the latest information on tools, technology, news and competitors activities. Statistics in the form of data and information that easily understandable by the business leaders to understand the business proposal in the boardroom.
A Strong Brand Changes Your Company Culture for the Better
The strong brand attraction can hold the best talent and skills as well as reduce recruiting cost. According to the Forbes report if an organization implement an incorporated brand strategy then in such companies the employee’s turnover rate is reduced by 28% over the year.
The brand is the best approach that unites employees under a strong shared company culture and eliminates the culture of silo-working that is the drive to increase in employee motivation and satisfaction. This way employee becomes advocates of the brand and it saves marketing budget to some extent and easily spread your marketing message.
while presenting your business proposal or case keep in mind that it must be short, accurate, to the point, fact and evidence based presentation nor emotional. In the boardroom, the board members team have limited time so they quickly want to want the fact that what benefits they get if they invest in the specific brand. So here brand play a significant role in the board meeting.
There are lots of things that change in the past 25 years same the execution of business has also change. It is very important to ensure your board team about the importance of intangible assets which include company value and brand. In the boardroom present, the statistical and data focus propositions of brand investment.
Elizabeth Mailey is a Content writer and editor at Assignments Help based in Perth, Western Australia. In her spare time, she likes to talk about art and sustainable Web development.