Brand Equity Management is a complicated name for a very simple idea: how to give more value to your customers than your competitors.
This idea connects everybody in a company and most specifically sales, marketing, and development teams.
1) Sales teams
Sales are at the front of the company and they have the best kind of feedback.
We suggest using Brand Value term instead of Unique Selling Point (USP).
USP focuses on a single sales success, but Brand Value represents overall success and can be used by all teams.
By understanding the Brand Value benefit over USP, sales will start cooperating with marketing and development.
In such case company becomes more competitive by quickly building and adapting its uniqueness.
2) Marketing teams
They have two main goals: build Brand awareness and deliver leads to Sales.
Marketing budgets, staff, IT, and data is growing.
There are hundreds of analytics and KPIs which should convert to revenue.
Problem with all of them is that they are very specialized and too few are converting to revenue and real Brand awareness.
Marketing teams that use Brand Values and BEM are more aware of how they impact the revenue and brand awareness and are not focusing on third party analytics.
3) Development, design, and engineering teams
These teams make the products that build the brand and revenue the most.
Also these teams are most specialized and in many cases detached from the actual company culture, vision, and strategy.
They are good at solving technical problems, and not the company problems, which makes them hard to retain and engage.
If development, design, and engineering teams are using Brand Values and BEM, they are more integrated in the company and with other teams.
They can also contribute much more to the business. They have the capacity to do so, but are often not offered the opportunity.
Offices are designed to motivate cross-team communication, but reality of work is that teams and experts are more and more isolated.
Even if there are many management communication tools and methods, most focus on sales, marketing, and developers doing more faster, which does not help.
The best way to work is if these teams share a common goal, language, and tools.
If they can have full understanding of company’s position on the market, value it offers to customers, and how it competes, and if they can clearly communicate frequent changes, this will result in a much faster, agile, and competitive company and brand.