Integrating behavioural economics & emotional techniques to track brand performance

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Valentine Williams
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1 Integrating behavioural economics & emotional techniques to track brand performance Claudia Strauss Managing Director, FMCG & Shopper

2 FMCG Brand & Purchase Tracking Understanding your brand s equity relies on assessing the opinions and attitudes of your consumers to measure brand strength and engagement. Brand tracking provides you with a position from which you can track your brand over time, identifying competitive strengths and consumer engagement. BrandBox is our new and innovative approach to brand tracking which includes the adoption of behavioural economics and emotional techniques to help track your brands performance inmarket. Our FMCG clients have access to a suite of approaches, tailored to their brand objectives, which deliver a robust and actionable understanding of brand performance and the levers to drive improvements. Brand Health Checks Deep Dive Brand U&A Targeted category understanding, updated annually, to ensure a comprehensive and relevant picture of your brand s positioning and that of key competitors. Excellent for guiding brand strategy and development for the next 12 months. ADHOC A one-off, comprehensive, market exploration for understanding the category landscape. Deep dive includes: brand, product and format awareness and usage; drivers and barriers to product use; detailed user and non-user profiling; exploration of potential opportunities for brand and product development. ADHOC Brand Equity Tracking Purchase Tracking & Switching Initiated with a detailed first wave to generate market, brand and competitor understanding. Determining the key brand equity drivers for each and how to drive improvements. Timely subsequent market dips then track brand performance, providing evaluation of changes in perceptions and the impact of any brand communications. CONTINUOUS Often initiated with a U&A approach. Monitoring purchasing behaviour, particularly for relatively new product launches, provides valuable understanding of the market dynamics and the impact of your brand. The tracking enables understanding of reasons for loyalty and brand switching behaviour, as well as the impact of any brand or competitor communications. CONTINUOUS TRACKING BRAND PERFORMANCE 2

3 Touchpoint Analysis & Deep Dive This adhoc or first stage research is used for creating a depth of category understanding. It explores and defines core brand equity and the levers for growth, tailored to your requirements. Initial research covers: 1. Awareness, use, consideration and loyalty of main brands and key competitors 2. Brand equity statements (7 key dimensions) for both brands and key competitors 3. Brand imagery for both main brands and key competitors 4. Timed Emotional Response testing key adjectives for both main brands and key competitors 5. Drivers of awareness and purchase for main brands 6. Connectors attitudinal statements Research provides you with: Category depth Understanding of the category and where the main brands sit in the competitive market place Purchase journey KPI benchmarking Determine what has driven sales for new products (including media impact), and understand the role of Connectors for developing the brands Identify where your brands sit among their competitive set and start tracking their performance Brand equity positioning KPI toolkit Deep understanding of your brands equity, imagery, and positioning plus that of key competitors to inform future comms strategy/platforms and brand opportunities Understand which imagery and communication levers to pull to improve KPI performance and further enhance brand potential TRACKING BRAND PERFORMANCE 3

4 Ongoing Brand Assessment Tracking brand performance as an ongoing measure provides effective monitoring of brand equity, purchasing patterns and the impact of brand communications. Reporting highlights how brands compare on a competitive level, providing you with clear strategic direction on where investment is needed to drive business success. Ongoing research includes: 1. KPIs as decided from initial research 2. Key brand equity statements as defined from the drivers analysis 3. Timed Emotional Response tracking implicit change of key adjectives 4. Key brand imagery attributes tracked 5. Comms section covering any brand development or campaign 6. Video/audio/visual prompted awareness of advertising 7. Creative diagnostics 8. Perceptions of main message 9. Connectors segmentation Research provides you with: Brand tracking Evaluation & impact Tracking of key brand elements to identify changes in brand perceptions over time (vs competitors & following brand activity) Full campaign evaluation including changes in brand perception and understanding the impact of brand development and communication BrandBox is our new and innovative approach to brand tracking. It evaluates the competitive context, emotional relationship and the role of Connectors (the core audience of influencers who really matter) in determining a brand s position. Designed to understand brand equity, BrandBox is a transparent, robust and flexible tool that allows clients to customise the solution to best fit their needs. Crucially it identifies the key drivers of brand equity and how brands compare on a competitive level, providing clear strategic direction on where investment is needed to improve performance; by connecting with consumers to engage with and deliver brand success. To find out more about the role of behavioural economics and emotional techniques to track your brands performance, please contact Claudia Strauss. TRACKING BRAND PERFORMANCE 4

5 About us Claudia Strauss, Managing Director FMCG & Shopper Claudia began her research career as the first qual graduate trainee for Ipsos (RSL, as was) and honed her passion for combining psychology with consumer decision making. To satisfy an itch, Claudia moved clientside in 2005, taking a role at T-Mobile and developing their brand and comms programme as well as influencing consumer proposition development. Her next role was as Head of Insight for Kerry Foods and then onto sweet treats as Head of Insight for Burtons Biscuits. Claudia says research is only of value when it offers a path to brand success and competitive advantage and that the best marketers are the ones who work with their agencies to translate consumer insight into powerful brand strategy. claudia.strauss@futurethinking.com +44 (0) Future Thinking is distinctive rather than different. Our toolkit may bear the hallmarks of other research agencies but we are dedicated to delivering a singularly characteristic blend of intellect and commercial awareness that ensures clients think, feel and do differently. With combined industry experience of over 40 years and offices in the UK and Europe, Future Thinking provide genuine research expertise and understanding across a wide range of industry sectors. Dedicated teams across the business, with a mix of agency and client side experience, ensure we remain at the forefront of innovative thinking, advanced technology and analytical expertise. For more information about the company please contact John Whittaker, Head of Marketing on +44 (0) or at john.whittaker@futurethinking.com TRACKING BRAND PERFORMANCE 5

Our unique perspective on brand and comms tracking

Our unique perspective on brand and comms tracking Hamish Asser Research Director Introducing BrandBox A powerful, flexible and transparent brand tracking tool that monitors brand performance and identifies