{"id":2385,"date":"2008-11-03T06:35:44","date_gmt":"2008-11-03T06:35:44","guid":{"rendered":"http:\/\/www.corporate-eye.com\/?p=2385"},"modified":"2008-11-02T15:55:45","modified_gmt":"2008-11-02T15:55:45","slug":"raising-the-importance-of-brand-to-corporate-executives","status":"publish","type":"post","link":"https:\/\/www.corporate-eye.com\/main\/raising-the-importance-of-brand-to-corporate-executives\/","title":{"rendered":"Raising the Importance of Brand to Corporate Executives"},"content":{"rendered":"<p><a href=\"https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2008\/11\/apple-macbook.jpg\"><img decoding=\"async\" class=\"alignleft size-medium wp-image-2386 lazyload\" data-src=\"https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2008\/11\/apple-macbook.jpg\" alt=\"\" width=\"240\" height=\"180\" data-srcset=\"https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2008\/11\/apple-macbook.jpg 240w, https:\/\/www.corporate-eye.com\/main\/wp-content\/uploads\/2008\/11\/apple-macbook-150x112.jpg 150w\" data-sizes=\"(max-width: 240px) 100vw, 240px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 240px; --smush-placeholder-aspect-ratio: 240\/180;\" \/><\/a>In a recent study by the <a href=\"http:\/\/www.ana.net\/\" target=\"_blank\" rel=\"noopener\">Association of National Advertisers<\/a> (ANA) and <a href=\"http:\/\/interbrand.com\/\" target=\"_blank\" rel=\"noopener\">Interbrand<\/a>, 118 marketing officers and senior marketing executives were surveyed about brand value in their organizations.\u00a0 The results are quite disappointing in that 55% of senior marketing executives do not have a quantitative understanding of brand value within their companies.\u00a0 That&#8217;s a brand gap that needs to be closed!<\/p>\n<p>Since executives don&#8217;t understand the importance of branding and don&#8217;t know how to quantify it, 64% of the surveyed marketers stated that brands have no influence over decision-making within their companies.\u00a0 That&#8217;s a huge missed opportunity for these companies!<!--more--><\/p>\n<p>Despite the brand gap, senior management at 80% of these companies are demanding that marketers prove that branding investments boost company profits.\u00a0 It&#8217;s amazing to me that in this day and age anyone can <em>not<\/em> understand how developing a strong brand can take a business to the next level.\u00a0 Look at <a href=\"http:\/\/www.apple.com\" target=\"_blank\" rel=\"noopener\">Apple<\/a>!<\/p>\n<p>Why do respondents to the survey believe that brands don&#8217;t have an impact on corporate decision-making?\u00a0 Check out the reasons below (and the percentage of respondents who cited each reason) adapted from an article on <a href=\"http:\/\/www.mediapost.com\/publications\/?fa=Articles.showArticleHomePage&amp;art_aid=93566\" target=\"_blank\" rel=\"noopener\">Mediapost.com<\/a>:<\/p>\n<ul>\n<li>51% &#8211; incentives that don&#8217;t support brand importance<\/li>\n<li>49% &#8211; inability to prove the brand&#8217;s financial benefit<\/li>\n<li>40% &#8211; existing brand expertise is not widely accepted<\/li>\n<li>39% &#8211; metrics don&#8217;t support the brand&#8217;s importance<\/li>\n<li>32% &#8211; budgets are focused on communications activities<\/li>\n<li>28% &#8211; brand is not included in the &#8220;sphere of influence&#8221;<\/li>\n<li>15% &#8211; branding expertise does not yet exist<\/li>\n<\/ul>\n<p>What can we learn from this study?\u00a0 Of course, finding a way to quantify the return on investment for branding initiatives would help, but so much of branding is about creating intrinsic value and an intangible awareness and loyalty that it will never be a perfect science.\u00a0 Perhaps analyzing companies that have grown and thrived thanks to developing a strong brand and benchmarking the strategies of those companies is the key.\u00a0 Can anyone argue against the fact that much of Apple&#8217;s success has come from its branding initiatives?\u00a0<\/p>\n<p>How do you convince senior management at your organization that branding is a critical part of a company&#8217;s long-term success?\u00a0 What has worked for you?\u00a0 Leave a comment and share your suggestions.<\/p>\n<p><em>Image: <\/em><a href=\"http:\/\/flickr.com\/photos\/matt_gibson\/514453793\/\" target=\"_blank\" rel=\"noopener\"><em>Flickr<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a recent study by the Association of National Advertisers (ANA) and Interbrand, 118 marketing officers and senior marketing executives were surveyed about brand value in their organizations.\u00a0 The results are quite disappointing in that 55% of senior marketing executives do not have a quantitative understanding of brand value within their companies.\u00a0 That&#8217;s a brand [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[95],"tags":[911,912,910,340,110,683],"class_list":{"0":"post-2385","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-brand","7":"tag-ana","8":"tag-association-of-national-advertisers","9":"tag-brand-gap","10":"tag-brand-value","11":"tag-corporate-branding","12":"tag-interbrand","13":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ 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