Traditionally performance and Branding are considered as trade-offs but there can be a balance established so that every marketing activity contributes to Brand equity in a positive way. And of course by doing so, it delivers performance as well.
Why is Brand equity important and how it can be measured?
In a study of 4000 Brands - a 4% increase in Brand equity can deliver - a 1% increase in annual revenue and an amazing 30% return on investment.
How much they respect the Brand? How relevant is the Brand to consumers' lives? And what is the differentiation of the Brand? To grow the Brand equity - it is important to focus on growing the Brand of course. And also align performance marketing as well to help grow the Brand.
Initial stages can also be very stressful as you know you have a long way to go and it seems like a big mountain to climb. There is quite a chance that you can fail. And hence by just focusing on next week plan, you are able to focus your mind and just do what needs to be done.
#zerotoone#justdoit
Zero to one
I have been fortunate to be given opportunity to launch and scale an MNC in India market; or to scale an MNC from initial stages to a large scale multiple times in my career till now. Not only in India.
It is quite a challenging stage as in initial stages there are lot of things which are easy for big companies but very difficult at small scale. And hence one of the biggest learning has been to plan your week well and focus on top one or two most important priorities
where you will move the needle in the week ahead. To identify those top one or two things requires a good amount of reflection and then a huge discipline to focus on them among lot of other things which you are getting sucked into inevitably.