Quantifying the intangible to change the game
The Blueprint Brand Value Score is a powerful tool designed to set businesses apart, allowing them to differentiate on Brand, distinguish themselves from the competition and supercharge their journey to success. Our framework seeks to quantify the 5 key attributes we believe form the foundation of Brand Value and have the greatest ability to move the needle when it comes to the perceived value of a business. These attributes are the building blocks of our Brand Value Score Framework. Not only do we use this to assess an early stage business and its potential to develop a sticky Brand, we also provide founders with the tool to help them assess their Brand Value in the eyes of their end consumers.
Our framework empowers start-ups to gain clarity on how they are perceived across these attributes and sheds light on specific attributes that can further enhance a start-ups brand value. We firmly believe that a robust brand is the key to standing out in competitive markets and establishing a lasting presence.
The 5 Brand Value attributes:
Product-Human Need Fit: This is key to differentiating your product or service from the multitude of options available in the market. We look for businesses that demonstrate a deep understanding their target consumer and the consumer insights that stem from unmet or underserved needs. Founders that start their innovation process from a consumer insight, are more likely to achieve “product-human need fit”, resulting in a stickier product or service. Think about your smartphone and your inability to function if you accidentally left it at home one day – that is “product-human need fit”.
Trust and Credibility: These are the bedrock of a company’s positioning and image. It hinges on delivering a product or service that consistently meets consumer expectations, and at a minimum, does exactly what its consumers expect it to do. It is about being transparent, engaging in responsible and relevant business practices, and being responsive to your consumers feedback.
Emotional Affinity: This centers on the emotions and positive feelings evoked when consumers interact with your product or service. It is that little spark of joy, that indescribable positive feeling one gets when they interact with or purchase a product or service. Youtube’s treasure trove of unboxing videos showing content creators unboxing everything from their latest beauty haul to the latest Apple product, is a testament to how powerful having a strong emotional connection can be. Netflix’s iconic ‘ta-dum’ sound takes this attachment to the next level, using only a concise audio cue that instantly transports viewers into their ‘me time’. The ability to evoke positive emotions and fostering a profound sense of attachment can leave a lasting impression - this is a hallmark of a strong brand.
Consumer Engagement & Conversations: A business’s ability to actively engage in conversation with its customers is invaluable and helps to foster trust. It means the business now has an open channel to forge meaningful connections, speak directly to their consumers, and gather valuable consumer feedback. It enables a business to identify its most loyal consumers and ultimately, provides the opportunity to A/B test or even co-create products or services that their consumers want and love. When this happens it can also spark conversations among consumers themselves, creating a sense of community. Glossier, a beauty brand unicorn in the US, started as a beauty blog called “Into the Gloss” that focused on sharing real information about amazing products. When it came time to launch its first 4 products, the company already knew what its loyal followers wanted and had a group of consumers eagerly waiting to try the products at launch.
"Represents Me": The consumers perception of value of a business is enhanced when the brand’s values mirrors the values, purpose, and goals of its target audience. Consumers today, especially the younger generation of consumers, see products and services they use as extension of themselves and their identity. Understanding your consumer and positioning your brand such that it “represents me”, enables businesses to create a strong sense of personal alignment and solidarity with their end consumers.
How Blueprint Measures Brand Value?
We believe that measuring Brand Value is an important tool in providing consumer-driven businesses with the insights needed to elevate their market presence and worth in the eyes of their consumers.
The Blueprint Brand Value Score is our way of quantifying traditionally hard-to-quantify elements of Brand Value. Our proprietary tool, it is designed to shed light and quantify the typically intangible aspects of Brand Value while providing benchmarks and insight into the various areas of Brand Value founders can improve on. It is a structured framework that anchors Brand Value on the five attributes mentioned above.
Methodology:
Each attribute is determined by a series of statements that are simple to understand and leaves little room for equivocation. These statements can range from the functional value of the product or service, to self-actualization/aspiration questions. Consumers are asked to what extent they agree or disagree with the set of statements for each attribute and each statemen receives a score between 0% to 100% depending on the extent to which they agree or disagree. The Brand Value Score is then calculated as the average of scores across the 5 attributes.
The strength of the Brand Value Score lies not just in its numerical representation but also in the insights it offers. Businesses receive a breakdown of their scores, highlighting areas of strength and opportunities for improvement. This knowledge empowers founders to refine their strategy and enhance their brand value.
Blueprint’s Brand Value Score has been tailored to suit the specific needs and challenges of a seed stage business. It is a user-friendly, practical, and data-driven tool that is easy to implement. Our goal is to offer start-ups a clear roadmap to enhancing their brand value.
Why the Blueprint Brand Value Score Matters to Start-ups?
For start-ups, understanding their brand's strengths and weaknesses can be the decisive factor between thriving and flatlining after a few years. The Blueprint Brand Value Score can function as a business’s guiding light, providing a quantifiable view of your brand's performance across essential dimensions. It empowers founders with strategic clarity to make informed decisions to steer their start-ups in the right direction.
Actionable Insights for Growth: In the dynamic start-up landscape, actionable insights are the currency of progress. The Brand Value Score can highlight your brand's strengths and areas for improvement within each dimension.
Strategy Refinement with Precision: Armed with the insights derived from the Brand Value Score, start-ups can refine their strategies with precision. Imagine having a roadmap that guides you to the aspects of your brand, be it product excellence, trust, emotional connection, engagement, or alignment, that need attention. It would be like having a GPS for your brand strategy, ensuring you stay on the path to success.
Measuring Progress Over Time: The Brand Value Score is not a one-time assessment; it is a dynamic tool for measuring progress. By consistently tracking your score over time, you can gauge the impact of your strategic adjustments. Are your efforts in product quality paying off? Is your emotional connection with customers strengthening? The score provides clear answers.
The Blueprint Brand Value is a strategic compass that guides your business towards excellence. It is your guide to identifying winning strategies to create a brand that genuinely connects with your audience, delights & brings joy, engenders trust and invites conversation. Supercharge your business’ journey to success. Don't just survive; thrive!