Michael Kitt

To truly understand a brands worth, it needs to be inspected under different lights. For brand equity, it's about understanding the allure of the brand; you'd delve into people's reactions and emotions using tools like surveys, interviews, and reviews. It's the subjective sparkle of the perception of the company. For brand value, we look at the objective facets: How often is this brand chosen over others? What's its market dominance? It’s about the tangible metrics like brand awareness, loyalty, preference, and valuation, akin to measuring something like a gemstone's clarity, carat, and cut.

If a brand was a rockstar then Brand equity is the die-hard fandom that'll camp out for tickets, wear your merch, and sing your praises. They’re loyal and won't jump ship for the next big thing. Then there's brand value. That's like your ticket sales, album downloads, and the bank you're making from sold-out shows. When you rock both of these, you’re not just the flavour of the week. You're legendary! You can sell tickets at VIP prices, get the best gigs, and even expand to worldwide tours. So, in the business world, that rockstar status means more loyal fans (customers), more cash, and a brand that’s here to stay.

I always like to think that a brand is like a reputation at a party. Brand equity is how people feel about you when they see you walk in. Are they excited? Do they trust you to bring the fun vibes or the best snacks? That's the emotional, street-cred side of things. Now, brand value? That's like your worth to the party. Do you always bring a crowd with you? Maybe you boost the energy or get everyone playing a game. In other words, it's the tangible contribution you make, like livening up the place. Both these aspects, the feels and the tangible impact, are shaped by how you present yourself and interact. So, be the life of the brand party! 🎉🎈

Imagine you are an artist critiquing a painting. If the artist critiques the canvas quality or the inherent nature of the paint, it's unhelpful and nonconstructive. Similarly, addressing an employee's inherent traits is not only unproductive but can be hurtful. Instead, the focus should be on the strokes, colours, and techniques used, just as managers should hone in on specific actions and results. The feedback sandwich, akin to a layered art technique, provides depth and dimension: it starts with a base layer of positivity, adds a touch of corrective guidance, and seals it with encouragement. This approach enhances the masterpiece of employee development.

Feedback is like a map of unfamiliar terrain. A vague map with just the destination marked leaves the traveller confused and lost. Similarly, generic feedback like "improve your communication" is akin to simply marking the endpoint without a clear path. In contrast, using the SMART framework is like providing a detailed map with clear landmarks, paths, and distances. It not only shows the destination but also the route to get there, ensuring the employee can navigate challenges and reach their goals effectively. I always structure feedback around behavioural traits to and tend to use the form of "When you {blank} it makes me feel {blank}. Did you know that behaviour was making me feel that way?"

A wise mentor once said: A conscientious gardener doesn't wait for an annual inspection to attend to a plant showing signs of distress; they address it immediately. If they neglect a withering plant until the year's end, the plant might already be too damaged or might even perish. Timely intervention, on the other hand, not only revives the plant but also promotes its growth. Similarly, when managers delay feedback, they risk the employee's professional "wilting" — a decline in morale, enthusiasm, and productivity. The employee, like the plant, may feel undervalued, and left to grapple with issues in isolation. By providing immediate nourishment in the form of constructive feedback, managers can rejuvenate people and aid their growth.