Brand Valuation
Case Study:
The National Association of Realtors
Brief
The core purpose of the NATIONAL ASSOCIATION OF REALTORSŪ (NAR) is to help its members become more profitable and successful.
NAR asked AbsoluteBrand to
evaluate the strength and value of the RealtorŪ brand in the US and to
identify opportunities for growth and realization of value.
AbsoluteBrand was asked to determine the annual
financial value derived
from the use of the Realtor brand to the individual member in terms of
annual financial benefits and the average lifetime value of the brand to
the average Realtor and the total value of the collective brand to all
members.
Approach
Customer insight: the strength of the Realtor brand was researched
from consumers and trade interviews, relative to other professional
bodies. Understanding the member: the membership base was researched to
more fully understand their characteristics, behavior and needs. Brand
premium: benchmark analysis of comparable membership organizations was
carried out and licensing arrangements and market transactions
evaluated. Valuation: the Realtor brand was valued in aggregate as well
as how much the brand was worth to its members over the span of a career
and on an annual basis.
Results
AbsoluteBrand's opinion of the RealtorŪ value was communicated to
NAR members and general public. Our report also recommended a number of strategies to
maximize the Realtor brand opportunity such as: brand communications at
national, state and local levels to members, trade and consumer bodies;
a more consistent use of the brand and an enhanced brand training
program for Realtor members.
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