brand+scorecard+MM+2008

brand+scorecard+MM+2008 - The Brand Scorecard Successfully...

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Unformatted text preview: The Brand Scorecard Successfully managing the customer experience is the ultimate goal. By Lawrence A. Crosby and Brian S. Lunde Customer b o n d i n g 12 x M M M a y / J u n e 2 0 0 8 I N T H E I R pioneering Harvard Business Review articles and book, The Balanced Scorecard: Translating Strategy Into Action (Harvard Business School Press, 1996), Robert Kaplan and David Norton intro- duced a framework for a strategic meas- urement and management system. The scorecard “balances” short- and long- term objectives, financial and nonfinan- cial measures, lagging and leading indi- cators, and external and internal per- formance perspectives. The balanced scorecard serves to communicate and align the organization around the busi- ness strategy. Companies around the world have adopted some version of the balanced scorecard as a means of organizing their corporate KPIs (key performance indicators). One of the more recent developments in performance measurement/manage- ment is the concept of the “brand score- card”—which is narrower in scope than the balanced scorecard. The brand score- card views performance through a cus- tomer-focused “brand lens.” Highly appropriate for companies managing multiple brands, it also applies to single brand companies. Its premise is that favorable business outcomes accrue to companies whose brands have strong demand pull. This scorecard aligns busi- ness functions around creating an excep- tional (i.e., differentiated and relevant) branded experience across the entire landscape of customer touchpoints to drive higher levels of brand attraction and loyalty. In effect, the brand score- card integrates performance, brand, and customer experience management. Whirlpool Corporation, a leading manufacturer of appliances, has rolled out a version of the brand scorecard con- cept to all of its appliance brands around the world. Whirlpool heralds this as a major step forward in its strate- gy of brand-focused value creation. A brand scorecard should be expressed on one page. This creates organizational focus around a limited set of strategic goals, key indicators, and the drivers of brand success with the most impact. In most companies, the scorecard will be deployed via a secure...
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brand+scorecard+MM+2008 - The Brand Scorecard Successfully...

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