What’s The Idea? is the name of this branding consultancy. The idea referred to in the inquiry is the idea that drives positive commerce and profitability. “What’s the idea that drives revenue?” One might ask how an idea can translate into measurable revenue. A fine question. Few brand strategists will go on record with an answer. Every brand idea served up by WTI can pass the revenue test.
The long standing brand idea for Coke, and management might argue this with me today, is “refreshment.” Were someone to field a quantitative research study measuring the degree to which soda drinkers agree Coke is the most refreshing choice — and track that number over time to revenue, you would have a proper test. Coke wouldn’t do it, I suspect.
I wrote a brand strategy for elder care and acute rehab facility not long ago, the idea for which was “average is the enemy.” Were a research study to be fielded among patients gauging their agreement as to how the healthcare company measured everything and outperformed others, that too, could be tied to revenue growth.
Every brand idea should be able to pass the revenue test. That’s why it’s called strategy. Return On Strategy (ROS).
If you have a brand idea see if you have a mechanism in pace to measure it.