Brand scorecard

Brand Scorecard

The successful implementation of a marketing strategy requires consistent tracking of marketing indicators. The purpose of the Brand Scorecard Dashboard is to assist in unifying marketing activities and tactics in order to achieve an outlined strategy.

The Brand Scorecard Dashboard is intended to define the role of marketing in a company. They are useful when a company needs to solve the following problems:

it is difficult to show the direct effect of marketing on the organization’s financial results;
separate directions of marketing activities seem to work autonomously of one another, while fighting for budgets. It is difficult to objectively set priorities;
a variety of marketing initiatives are implemented, though it is difficult to determine which ones actually impact financial results;
marketing budgets are determined based on last year’s expenses and not on company goals;
it is difficult to evaluate the ROI of the marketing mix and determine connections between understandable brand values and turnover, as well as revenue.

The simplest analogy to the scorecard dashboard is the dashboard of an automobile: like a car, to drive a company forward unimpeded, one needs a speedometer and petrol gauge, warning lights that show when your oil and window fluid is low.

Like the driver of a car, a marketing manager needs two types of indicators: those that are seen at all times and those that flash only when there is a problem (i.e. oil level warning). A marketing manager needs to know how successfully he or she is moving towards a goal and how effectively money is being spent during the trip.

Marketing Dashboards are prepared using interrelated and integrated KPI. Before beginning to put the model together, two primary questions must be answered:

What solutions do we want to implement?
What information is necessary to implement the solutions?

Developing a balanced dashboard requires the implementation of a principal task – deciding what role marketing plays in a company.

To generate turnover?
To create and maintain a strong brand?
To create attractive offers?
To maintain client loyalty?
To create effective communication?
To promote product innovation?

The purpose of a company-level dashboard is not only to outline the role of marketing at a company and increase marketing accountability, but to create a learning company, which implements decisions based on clear facts, not intuition or management opinion.

Brand dashboards allow for the observation of specific brand situations in the market. The primary brand dimensions, which should be observed:

Brand financial value;
Brand emotional value;
Brand communications effectiveness.

Marketing strategies can be implemented successfully only through observation – not by relying solely on intuition.

By collecting several waves of information, we help find the criteria, which has the strongest connection (correlation), prognosis (regression) or influences (discreet choice modeling) on purchases. We also help raise hypotheses and find answers to them using “what if” analytical dashboard models.

Examples of questions, which can be answered using the Brand Scorecard Dashboard system:

What is the correlation between client satisfaction and profit growth?
Which brand value components have the greatest influence on the growth of consumption?
Which communications channel (mix) most effectively forms consumer awareness?
What factors best influence positive consumer WOM?