The International Organization for Standardization (ISO) has unanimously approved a new global standard for brand evaluation, ISO 20671, that becomes effective in November.

The Marketing Accountability Standards Board (MASB) represented the U.S. in the development of the standard under the auspices of the American National Standards Institute (ANSI). Understanding that “brands are one of the most valuable yet least understood of assets,” the standard provides a framework for systematic, recurring brand reviews. Developed over several years by branding experts from numerous fields, it covers the entire process: from brand development to brand performance to brand valuation.

“Accountable marketers are going to love ISO 20671 because to be in compliance, they will have to value their brands regularly,” said MASB President/CEO Tony Pace. “That will be marketers’ ‘Golden Ticket’—not only to fund measurable brand value growth initiatives but also to measure the marketing contribution to enterprise value.”

This qualitative standard on brand evaluation supports ISO 10668, the international standard on quantitative brand valuation, adopted in 2010.