How can we ensure our brand is performing at its best?
Has a new competitor entered your market? Has a whole new category emerged that threatens you and your competitors? Is it just time to make sure your brand has kept up to date with your customers?
We want to help our clients when they are faced with choices about how best to market their product or service. This is the perfect time to commission research. Our advice is:
- Although your first instinct might be to do a survey about your brand, we have learnt that the best way to start is by understanding your customers, especially how your brand fits into their life, and how their lives might have changed. Start with qualitative research as often as you can.
- The next step is to understand how deep their emotional connection is to your brand. What are they using you for in practical and emotional terms?
- Third, no brand is an island*. How customers perceive your brand will be affected by what they think of your category. This sets their expectations for your brand. They will also think of you relative to other brands.
Depending on your brand and its category, we will suggest qualitative or quantitative research techniques, or a mix of both.
* This is to misquote the poet John Donne who said 'no man is an island'.
We have a case study on brand equity research here