brand tracking - taking the pulse on your brand

Michaela Mora@rinsights

Twitter hashtag: #brandtracking

www.relevantinsights.com


1. What is brand and brand equity?

2. What brand metrics should be tracked?

3. How often should a brand be tracked?

4. Who should be included in a brand tracking study?

5. How to interpret brand tracking metrics?

AgendaAgenda

2www.relevantinsights.com


“a name, term, sign, symbol or design, or combination of them intended to identify the goods and services of one seller or group of sellers and differentiate them from those of the competition”

What Is A Brand?What Is A Brand?

American Marketing Association

3

Where do brands exist?


What Is Brand Equity?What Is Brand Equity?

Source: Kevin L. Keller “Strategic Brand Management”

Customer-Based Brand Equity

Customer response

Differential effect

Brand knowledge

4


Brand Research MethodsBrand Research Methods

Brand Tracking, Comparative methods for brands and marketing activities, trade-off analysis (conjoint)

Projective techniques, Story-telling, Role playing, Focus groups, Ethnography, Online qualitative techniques, etc.

Quantitative Research

5

Qualitative Research

Sentiment monitoring, Content Analysis, Trends

Social Media Research (Can be qualitative or quantitative)


Why Brand Tracking?Why Brand Tracking?

Monitor the health of the brand to allow for proper adjustments.

Provide information to facilitate marketers’ day-to-day decision making

Provide insights into the effects of many marketing actions on brand equity

6


What To Track?What To Track?

7

Recall Brands purchased

Favorability

Brand Experience & Usage

Brand Awareness Brand Image

Customer satisfaction & loyalty

Brand Change likelihood

Future purchase intent

Total spending

Purchase frequency and amountRecognition

Brand Attributes

Brand Benefits

Uniqueness

Strength

Brand Attitudes

www.relevantinsights.com 8


Brand RecallDepends on strength and organization of memories

and their accessibility

Brand Recognition Depends on content of

memories

What retailer brands come to mind when you think of clothing?

When you think of retailers where you can buy jeans, which brands come to mind?

Which of the following retailer brands sell sport wear?

How familiar are you with the following retailer brands of sport wear? Scale from “Never heard of” to “I have purchased sport wear at this retailer”

Brand Awareness


Customer Service

ProductAdvertising

Store experience

Website experience

PricePromotions

Brands purchased

Purchase frequency

Brand Change likelihood

Total spending

Customer Behavior

Purchase amount

Customer satisfaction

Future purchase intent

Product Performance

Customer Service

Shopping experience

Price as a barrier Brand loyalty

Brand Experience & Usage


Experience with competing

brands

Own and Competing Brands

Social media/WOM


Experience with competing

brands

Customer Service

Product attributes

Advertising

Social media/WOM

Store experience

Website experience

Price

Promotions

Product performance

Cultural background

Favorability

Desirability

Deliverability

Brand Benefits Functional

Symbolic Experiential

Uniqueness

Point of differentiation

Shared associations

Product Performance/Quality

Product attributes Product features

Brand personality

Non-Product Attributes

User Imagery

Price

Feelings/Experience

Strength

Quality of the brand info processing

Quantity of brand info processing

Brand Attitudes

Brand Image



How Often To Track?How Often To Track?

Continuous Tracking

“Smooth Out” the short-term effect of unusual marketing activities

Can be analyzed with other continuous data (sales, advertising spending, market share, etc.)

More expensive

Better for monitoring competitive landscape without influence of media schedule

Pulse Tracking

Could be biased if a negative or positive marketing event occurs close in time to a wave of interviews

Data gaps between measurement waves

Can provide precise before-after measurements of specific media events

Less expensive


How Often To Track?How Often To Track?

Criteria To Consider

Stability of brand associations

Frequency of product purchase

Marketing activity in the product category

Level of competition in product category

Marketing activity plan for the brand


Whom To Track?Whom To Track?

Customers

Non-Customers

Vs.


How To Interpret?How To Interpret?

Brand Recall

Brand Awareness

When Is The Purchase Decision Made?

Brand Recognition


Among flavored alcoholic beverages

Among flavored alcoholic beverages for a party with friends?

Recall

Recall

Factors Affecting Recall

Interference of other product information

Time since last exposure

The number and type of external retrieval cues

Recall = Strength Indicator

Brand Awareness



Recognition

Brand Awareness

Brand Recognition = Marketing strategy success

Potential ability to recall




Brand Experience &

Usage

Brand Image

Rejecter

Devoted & Engaged

Satisfied but Indifferent

Ambivalent


Assess


Are the metrics reflecting the underlying sources of brand equity or are they not sensitive enough?

What are the appropriate cutoffs?

Correlate

Which are the sources of brand equity?

Which sources are the value drivers for a brand?

Which marketing activities are most effective?


Thanks!Thanks!

P: [email protected] on Twitter @rinsightshttp://www.relevantinsights.com

Michaela Mora

brand tracking - taking the pulse on your brand

Business

brand awareness brand

brand metrics

brand awarenessrecall

brand trackingmetrics

brand level of competition

marketing activities

marketing actions

competing brands