Can you relate to any of the following?
- Current brand tracking solutions are not efficient (in terms of cost or time)
- Brand tracking outcomes aren’t always actionable or relevant
- We need our tracking study to tell us more about our brand than just awareness or usage
If you can, you’ll be excited to learn more about quantilope’s new Better Brand Health Tracking solution below!
Table of Contents:
- What is brand health tracking?
- Why is brand health tracking important?
- How does quantilope’s modernized BBHT solution work?
- Summary
What is brand health tracking?
Brand health tracking is an ongoing research survey used to monitor consumers' experience with (and perceptions of) a brand over time. It’s a single study that’s fielded in periodic increments (aka, waves) which might be monthly, quarterly, or annually.
A useful brand health tracker should go beyond basic brand funnel metrics to be able to guide future marketing activities and diagnose a brand's performance.
Why is brand health tracking important?
Over time, consumers will gravitate toward the brands that are relevant to their needs and provide them with positive experiences, making brand health tracking a crucial measurement for long-term success.
Consider Kleenex for example. Their brand health is so strong that anytime a consumer even thinks about buying tissues or asks someone for one, they often use the name ‘Kleenex’ instead of tissue; same with ‘Band-Aid’ in place of bandage.
These brands have something called strong ‘Mental Availability’ which is the likelihood that consumers think of your brand in specific buying situations (situations known as: Category Entry Points).
Mental Availability analysis and Category Entry Points (CEPs) are empirically-grounded and proven to help businesses grow - based on the acclaimed work of Professor Jenni Romaniuk of the Ehrenberg-Bass Institute for Marketing Science (author of Better Brand Health and co-author of How Brands Grow). However, not many brand health trackers are making use of them.
Knowing the importance of brand health tracking, and the validity of Mental Availability analysis, we’ve created a new automated, yet customizable, Better Brand Health Tracking template within quantilope's Consumer Intelligence Platform.
How does quantilope’s modernized BBHT solution work?
quantilope’s Better Brand Health Tracking solution is designed for the category, analyzed for the buyer, and reported for your brand.
The approach is based on the fundamental principle that a brand will grow by increasing the number of buying situations that come to consumers’ minds. Again, these situations are known as Category Entry Points (CEPs) which could be things like ‘I’m feeling thirsty’, ‘My feet have been hurting in these shoes’, or ‘I’m going on a summer trip and don’t want to get sunburnt’. In each of those scenarios, a consumer might think to themselves ‘Maybe I should grab a Coke since I’m passing the local Pizza shop’, ‘I should go try on new Adidas sneakers since my friend mentioned them being so comfortable’, and ‘I should stock up on Neutrogena sunscreen since I know it comes in a travel size’.
quantilope’s AI-based model will help generate the perfect list of buying situations (Category Entry Points) in a pre-study, which will then lead to the following Mental Availability metrics in your main tracking study:
|
Mental market share |
A share of CEP associations with a given brand among total CEP associations across all brands (i.e. How present is my brand in consumers’ minds?) |
|
Mental penetration |
The number of participants with at least one CEP association for a given brand (i.e. How many consumers think of my brand in at least one buying situation?) |
|
Network size |
The average number of CEP associations per brand, among those with at least one CEP association for that brand (i.e. How broad are the category associations for each brand?) |
|
Share of mind |
The share of CEP associations with a selected focus brand, among those with at least one CEP association for that focus brand (i.e. What other brands are our consumers thinking of?) |
Summary:
quantilope users who leverage Better Brand Health Tracking will have access to:
- A templated and research-consultant-guided pre-study to prioritize relevant buying situations (CEPs)
- A templated and research-consultant-guided BBHT survey based on a pre-study, including pre-built report charts and a templated dashboard
- Real-time tracking insights for instantly-actionable decisions
- An intuitive visual of where to defend, grow, and maintain (aka, Mental Advantage analysis - more on that here).
Ready to learn more about automated Better Brand Health Tracking with quantilope? Get in touch below to set up a demo, or, click here to explore the use of this new model for soda insights!
