You can’t excel across all service lines. You certainly can’t support them all. But despite this (forgetting all the politics and compromising), internal teams keep churning out new branded services.
Here are eight questions that will start your organization on its way to building a stronger portfolio that builds maximum relationship value for your audiences and maximum financial value for your organization:
1. Strategic Fit. Does the portfolio help achieve and support your longer-term strategic priorities?
2. Support Priority Businesses. Does it support the businesses that contribute to driving volume and reputation?
3. Brand Value. Does the portfolio reinforce and help build brand equity?
4. Brand Synergy. Is there a clear relationship between the brands?
5. Customer Value. Does the portfolio meet the needs of your customers?
6. Customer Opportunity. Do your brands invite the customer relationships you want?
7. Other Stakeholders. Does the portfolio meet their needs; and not sacrifice business and brand priorities?
8. The Organization. Do the brands work together to build value back to the organization?