Recently I was fortunate enough to attend Digital Branding Analytics Miami (#DBAmiami), a marketing conference organized by Florida International University. Each of the discussions I attended were relevant to my career and education, but I found Hector Hernandez’s presentation on “Assessing Brand Value” beneficial to my coursework and career. Hector Hernandez is Chief Digital Officer at McCann Worldgroup.
A dilemma that many companies face is that you feel like you’re doing all you can to spread your brand to the world, but how do you really know that your efforts are paying off? While there are many measurable indications that people are familiar with your brand, the simplest KPIs have to do with how visitors to your site find you via search engines. Google Analytics helps you with this by breaking down site traffic according to the source. If you chart these results, especially over time, you’ll get a sense of the percentage of visitors to your website who made their way to your pages already knowing your brand name.
Brand value is the final step is to calculate the net present value of the expected earnings (once discounted by a rate which best reflects the risk of the future earnings). This discount rate takes into consideration the strength of the brand. In principle, strong brand equity can accelerate and enhance cash flow and can lead to less volatile and vulnerable cash flow problems.
During my studies in the Master of Science in Marketing program at Florida International University, I have particularly enjoyed learning about web analytics. Hearing Hector Hernandez speak of real-world practices and scenarios put many of our lessons into context. The almost instant access to your results is fascinating and I look forward to working more with this technology in my future career.
Watch his entire presentation here: https://youtu.be/xhGnk6YusTU