Why brand is hard to measure
I realise this might be stating the bleeding obvious, but measuring brand is both important and difficult.
We’ve been reflecting on this recently. On our podcast I mentioned the new results page on our website, something that’s taken 20 years to build. Looking at it, I feel two things at once: pride that we’ve worked with clients to measure real-world results, and frustration that there isn’t more of it. Out of all the projects we’ve delivered, maybe 40 have measurable outcomes we can show.
That tension points to the bigger problem. Brand often lacks belief in the boardroom because it struggles to demonstrate a return. And unless you can show evidence, most FDs and boards won’t back it.
The uncomfortable truth is there’s no simple cause and effect between brand spend and results. At best, investment in brand increases the probability of a positive impact down the line. Yes, you can point to the 200+ big companies who invest in brand and outperform those that don’t, but that rarely convinces a sceptical board.
So instead of trying to claim certainty, we need to embrace the fact that brand impact is probabilistic. Then we can focus on how to measure what matters.
How to measure brand
The key is to be intentional. Define up front what you’ll measure, when, and with what frequency. Even if the chosen metrics are small, alignment of expectations is critical. Everyone has to know what success looks like.
We’ve found it useful to split measurement into two camps: leading indicators and lagging indicators.
Leading indicators
These are softer metrics that show early signs of momentum. They don’t prove the end result, but they give immediate feedback and build confidence.
Leading indicators might include:
• NPS scores
• Share of search
• Sales team confidence
• Email engagement
• Customer surveys
When tracked consistently, these signals can be powerful and cost-effective. They help marketing teams demonstrate early movement and build belief while the bigger value builds in the background.
Lagging indicators
These are the big textbook metrics that make the boardroom sit up:
• Margin uplift
• Sales value
• Customer lifetime value
• Acquisition cost
• Market share increase
You can’t fast-track these. They take time, often years. But they are the “long” in Les Binet’s Long and the Short. Companies that invest consistently in brand do eventually move these numbers.
Of course, brand isn’t the only driver here. But when you overlay these outcomes with leading indicators, you can demonstrate the real role brand plays in business growth.
It’s also worth noting there are other valuable results that aren’t purely financial. Shifts in culture, morale, or confidence. Operational efficiencies and savings. Changes in behaviour. Brand can reach deep inside a business and create impact in places that don’t show up on a balance sheet.
Lessons from 20 years
Looking back, I think we’ve sometimes fallen into the trap of only valuing the big lagging indicators. If we couldn’t link brand to them, we pressed on without measuring anything.
Now, 20 years in, we’ve got a clearer methodology for setting up indicators. But I’m still frustrated we didn’t push harder on this earlier. Clients would have benefited from even small signals of progress, if only we’d been more intentional.
That’s the real lesson: measure what matters, right from the start.