Credit from Beloved Brands
Every brand should understand the details of their brand funnel, the best tool for measuring your brand’s underlying health. A classic brand funnel should measure awareness, familiarity, consideration, purchase, repeat, and loyalty. It is not just about understanding the absolute scores on the funnel but rather the ratios that explain how good of a job you are doing in moving consumers from one stage of the funnel to the next.
A: Start with the absolute brand funnel scores. Compare to last year, competitors, or category norms.
B: Look at brand funnel ratios, the percentage score for how well your brand converts consumers from one stage of the funnel to the next: 91% of those aware, consider your brand.
C: For the second chart below, lay out absolute scores and the ratios in a horizontal way to allow a comparison, with a close competitor (Devon’s).
D: Find the ratio gaps by subtracting the competitor’s ratio scores from your brand’s ratio scores.
E: Create ratio gaps between the two brands to tell a strategic story to explain large gaps.
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Retail Marketing And Branding
This book is about format develop-ment, advanced marketing mix modeling, highly granular geo-marketing, digital media, and fact-based promotion management.