About Best Brands
Measuring any brand’s success is always a tricky affair. It is especially so in the contemporary digitized economy where people increasingly believe in interacting with a brand. This interaction does not occur just before they make a purchase decision, but continues even after. Part of this is because customers now have an emotional connect with the products and services that they acquire.
Whether they invest in a high end mainframe server, deploy a multifunctional printer, align with ecommerce platform to reach out to more customers or integrate a travel aggregator app on their website to increase customer stickiness on their site, customers go beyond rational considerations while making the business decision. They also think about how they feel about the brand at a more intrinsic level. Measuring the success of a brand is trickier when it has to be done for companies that operate in the B2B sphere. Customers of these companies want a brand they can position better to the end consumer; a brand that can they can rely on for prompt post-sale support; a brand that offers them channel-friendly policies like price protection, etc.
Even while these companies’ marketing managers work hard at building a brand identity that resonates strongly with the end consumers, its brand managers are now challenged to come up with newer ways to build a long term connect with their channel partners, especially in the fast evolving technology domain. They need to keep continually interacting and engaging with the channel partner to build an emotional relationship and then measure this engagement to see if the communication is mutually fruitful.