In a highly competitive market where competing brands jostle for the attention and preference of consumers and shoppers, it is becoming increasingly important for brands to cultivate a strong brand image.
A strong brand image, with a unique selling proposition, and a consistent communication strategy is what helps differentiate brands and builds a foundation for business growth. The cultivation of Brand Equity requires continuous time and resource investments, but is crucial for avoiding the danger of having to rely on pricing and promotion tactics that in many cases largely influence short-term sales.
As such, measuring and monitoring brand health on a regular basis is necessary to ensure your brand contributes positively to sales and penetration growth, as well as gauge the direction of future business growth and stability in the marketplace.
Our approach to understanding a client’s true brand equity involves not only identifying the brand health metrics which actually drive brand sales, conversion and/or penetration, but also identifies the optimum channel mix which drives uplifts in relevant brand health measures which in turn drive not only sales but all key performance indicator (KPI) growth.
Analysis to Understand the Drivers of Brand Equity
By applying innovative brand equity modeling techniques and using state-of-the-art technology to analyze a client’s brand and ad tracking data against a client’s KPI trends, marketing activities, competitive activities, economic factors and trends of other identified drivers, we identify which and to what degree each brand health measure and brand image attribute statement impacts KPI and/or business performance variance. Of those relevant brand health measures which drive KPI business performance, we also identify which marketing elements and at what combination are optimal in driving improvement in brand health which then contributes to overall business growth.
As part of Analytic Partners’ service offering in the field of Brand Equity modeling, we will partner closely with you to provide you with insights and strategic recommendations designed to optimize your brand health and drive both short-term sales and penetration as well as long-term KPI growth stability. We will also measure and track your brand health against individual campaigns, message attributes, product developments (e.g. launches, re-packaging, etc.), pricing, distribution and competitive activity.
We answer your questions
- How much does brand equity contribute to sales?
- What brand health metrics and measures should be tracked?
- What brand health measures are linked directly and indirectly to sales?
- Which paid, owned, & earned media drives increases in brand health?
- What is the marketing cost to maintain the current brand equity trend?
- What is the marketing cost and ROI to increase brand equity by 1%?
- Does driving awareness increase sales? Or perhaps conversion?
- How does a competitor’s brand equity impact our business?