You’re not alone if your business lacks a cohesive story. In fact, many business leaders who contact us describe an inconsistent marketing message. We call it a brand narrative. It informs both external and internal alignment. It applies to corporations, products, services, people and issues.
Yet, the million dollar question: Is there a business case to be made for brand investment? The International Standards Organization says, yes!
Better known as ISO standards, the International Standards Organization only develops a standard if a market need exists. The need for brand evaluation standards, according to the ISO, is simple: Brands are one of the most valuable yet least understood assets.
We agree. There’s one irrefutable brand truth in our experience. Every person, product, service or issue reflects a brand. Right now—you are formulating what you perceive our brand to be at Karl James & Company. Do you find us credible? Do you feel like you can trust us?
Let’s say you find us credible and trustworthy. Then what? Is it easy to connect with the firm? What do others say about their experiences with the firm? All of these questions—in some form—apply to you…to your company…to your product or service or issue too! It determines if people take some action related to your offer.
Providing internationally-agreed-upon standards for evaluating brand value, however, has been sorely needed. Creating a structure for quality to risk management to food safety and more, the ISO improves lives, efficiency and metrics based on best practices developed by experts across 165 countries.
According to the ISO website, ISO 20671, Brand evaluation – Principles and fundamentals, aims to standardize the technical requirements and evaluation methods involved in brand valuation. It complements ISO 10668, Brand valuation – Requirements for monetary brand valuation, which focuses primarily on the financial aspects.
ISO Standards are global best-practice formulas describing the best way of doing something. In this case, brand evaluation. This is a recent phenomenon solving one of the world’s mysteries: How do you value the intangible asset of your brand.
It could be about making a product, managing a process, delivering a service or supplying materials – standards cover a huge range of activities.
Standards are the distilled wisdom of people with expertise in their subject matter from 165 countries, according to the ISO website. They are experts from organizations they represent – people such as manufacturers, sellers, buyers, customers, trade associations, users or regulators. For more about the ISO efforts to evaluate brand value, please see the following
What’s In A Brand? Quite A Bit, Actually
The World’s First International Standard for Brand Evaluation
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