Why is Brand Intelligence important?
Are you winning or losing market share? Do your target consumers prefer your brand, or that of your competitors? Should you respond to a new marketing initiative, feature release or product launch by a rival? Without Brand Intelligence, on what are you basing the answers to these business-critical questions?
To avoid guessing, it’s essential to have a reliable and easy-to-understand data-backed source of truth when confronted with these questions.
And even more important is being able to understand why your brand is performing in a certain way, so you have the actionable intelligence needed to improve over time.
Understanding the drivers behind your brand’s strengths and weaknesses is a source of competitive advantage that will help your get ahead and stay ahead.
When do you need Brand Intelligence?
When you’re dealing with questions so fundamentally important to your businesses success, we’d like to think ‘always.’
But taking a more practical approach, we find most teams will review these kinds of strategic considerations every quarter, providing a regular data point on the health of their brand.
Where should you use Brand Intelligence?
This depends on who has ultimate ‘ownership’ of the brand. For most consumer businesses, it will be the Chief Marketing Officer or their equivalent (such as the Marketing Director or Brand Director).
However many of the insights you’ll gain from running a regular Brand Intelligence health check can be useful to those in product, strategy and other senior leadership positions.