Own the Future: 50 Ways to Win from The Boston Consulting Group

Chapter 19

Brand-Centric Transformation: Balancing Art and Data

Dylan Bolden, Antonella Mei-Pochtler, Rohan Sajdeh, Gaby Barrios, Erin George, Keith Melker, and Deran Taskiran

Google, Apple, Nike, Louis Vuitton…just a few of the names on any list of top global brands. These companies demonstrate without question that a brand can drive tangible financial impact and increase value for employees, customers, and shareholders. Of course, the inverse is also true: poorly crafted brand-building efforts can waste precious dollars from marketing budgets already stretched thin.

With so much at stake, brand building cannot be left to chance—or to creative advertising alone. The critical, strategic investment decisions required to shape and strengthen the brand must be tackled as such: debated by the most senior executives, grounded in data-driven insights, and embedded throughout the organization. Too often, however, brand transformation efforts falter because they lack the rigor and discipline that are applied to other business initiatives.

In developing their branding strategies, companies must move beyond qualitative research, such as consumer interviews and focus groups. These techniques can provide rich insight and emotional depth, but they are not conclusive. A more robust approach synthesizes a variety of insight sources—including internal financial information, competitive landscaping, and quantitative market research. Given the growing complexity of business, “going with your gut” ...