In this age of accountability, marketers have never been under more pressure to constantly assess brand performance. This is not only becoming mandatory as businesses try to get more for less out of their budgets but is also a good business discipline.
The main reason to monitor the brandís performance is that it allows for real time course correction so that managers can ensure the directional intent of the brand is on track.
The knowledge economy means that the brand is the vehicle through which customer strategies are executed. The stage of the business cycle and the nature of the competitive environment will determine the key business goals. Are you new to the category and trying to drive awareness, consideration and preference for your brand? Are you in a mature business category and need to ensure customer retention and to promote switching?
Brand tracking is often a relic of a bygone era in the brandís evolution. Brand analysis and measurements need to evolve with a brandís maturity. For example, what is the purpose of measuring brand awareness in a category leader in a mature market?
Brand analytics covers the spectrum of analysis relating to the brand from understanding the key drivers of demand for your brand and the brandís influence in achieving that demand to establishing the appropriate metrics that need to be measured in a scorecard based approach.
Our work assists clients in understanding the relevant measures in determining brand performance combining attitudinal and behavioural metrics with leading and lagging indicators to ensure managers have accurate and meaningful data with which to make strategic decisions.
The analytical tools will help to provide support for a plethora of brand decisions in a much more scientific way then the traditional qualitative methods used by other consultancies.
For more information on brand analytics please contact us.
founder of Amazon