Building brand awareness ( created through advertising, promotion and publicity ) is an important activity...but it doesn't become a revenue driver until you can measure its results by segment on an ongoing basis. Then it becomes an asset.
Column centimetres of ads or press coverage is nigh on useless unless you are connecting with existing and new customers to capitalise on a wider market profile. So the leather has to hit the street.
If each rep is making two extra cold or qualified phone calls a day, that's 400 new sales suspects opportunities per year. Now your brand awareness strengths are being utilised.
One extra face-to-face presentation per week is at least 48 new customer connections per year. Do the math if you have a large sales force.
Connecting with new customers is an investment in your brand. To miss the opportunity to do so, is a waste of promotional funds.
But it is critical to measure brand awareness strength and relevance to current and new customers in specific market segments... compared to competitors.
Boards have a habit of wanting to know how their organisations are standing in the marketplace...and what their management teams are doing about exploiting their competitive positions...and converting awareness to profitable revenue.
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