evaluating brand attributes in a digital environment

Evaluating Brand Attributes in a Digital Environment

FlexMR WebinarAugust 2015

2 FlexMR www.flexmr.net

Who will be speaking

Introduction

Dorota RewinskaInsight Manager, Research

Having overseen many large-scale, multi-method projects during the course of her career, Dorota is skilled in all online research methodologies and knows intuitively the project design that will achieve the desired outcomes.

Amy EborallSenior Research Associate

With a solid understanding of research methodology and interpretation Amy translates raw data into actionable business insight with ease. Amy leads both quantitative and qualitative B2B and B2C projects.

Paul HudsonCEO & Founder

Paul has over fifteen years of market research experience. A regular guest speaker at AQR and ICG events, he is an online qualitative research expert actively involved in developing new techniques for online application.


An overview of the session

Introduction

• A brief introduction to brand evaluation– What is brand evaluation?– How do I measure the intangible?– What are the best evaluation criteria?

• The best research tools for online brand evaluation– An introduction to the tools– Combining qualitative and quantitative research

• Brand evaluation in practice


A brief introduction to brand evaluation


“Brand evaluation is the process of understanding an quantifying both the tangible and intangible aspects of a

brand – converting it into a monetary value for the purpose of increasing brand equity.”

What is a brand evaluation?

An Introduction to Brand Evaluation


What is a brand evaluation?


The tangible

• Branded assets• Liquid capital• Physical stock• Share of market

The intangible

• Brand awareness• Brand recognition• Customer

perception• Core

competencies

Driven by quantitative internal analysis

Driven by qualitative external analysis

Brand Evaluation


How do I measure the intangible?


A range of techniques exist to evaluate the value and perception of a brand:• Perceptual maps• Preference models• Behavioural mapping

Each method of evaluation has a unique value and set of strengths.Identify the most appropriate methods for your brand before setting out on your market research.

How do I measure the intangible



Perceptual maps


Variable 1 (e.g. quality)

Variable 2 (e.g. value)

Company 1

Company 2

Company 3

Company 4


Preference models


Reject Brand

Indifferent to Brand

Prefer Brand

Aware of brand Unaware of

brand

20%

50%

15%

15%


Behavioural modelling


Re-purchase Purchase Positive Sentiment Negative Sentiment

Behaviour in %


What are the best evaluation criteria?


To generate an effective model, accurate evaluation criteria must be selected.

Examples of measurement criteria:• Purchase intention• Brand awareness• Brand loyalty• Brand associations

What are the best evaluation criteria?



Dimensions of brand associations


Dimensions of brand associations

Personality

Product-related

attributesLifestyle Place Emotions


Internal:• Brand positioning• Employee awareness• Employee sentiment

Brand evaluation metrics


External:• Key influencer opinion• Sentiment & text analysis• Mood boards & co-creation• Competitor positioning analysis• Social listening


The best research tools for online brand evaluation


Bulletin Board

The Tools

• Embed images and video • Range of formatting options

Categorise threads for simple navigation and allocate different bulletin board focus groups to different participant segmentsMore control for you, more convenience for your customer

• Set completion targets• Individual private prompting• Consumer group controlled

Bulletin BoardMR

FlexMR www.flexmr.net

Smartboard

The Tools

18

• Participant page integration• Completion targets• Export annotations

Invite participants to comment on image elements via sticky note and watch as each note turns into a mini group discussion all of its own

• A discussion on an image• Sentiment tagging of

comments• Heat-mapping tool

SmartboardMR


Scrapbook

The Tools

19

• Comment on images• Download as zip file

Benefit from the popularity of digital scrapbookingInvite participants to pin images, comment and discuss

• Topic and individual scrapbooks• Tag images• Sort images

ScrapbookMR


Open Poll

The Tools

20

• Limit the number of characters

• Participant page integration

Qualitative insight at the click of a buttonExpand your understanding at speed with an open pollSimple, fast, effective

• One-click feedback• Display results with wordle• Project page compatible

Open PollMR


Integrating qualitative and quantitative research


Integrating qualitative and quantitative research

The Tools

Brand evaluations are made up of two components

Brand equity (a financial valuation of

the brand)

Brand sentiment (a non-numerical

aggregation of public opinion)

• Financial data is gathered internally, but combined with equity data based on how much the brand could be sold for

• Brand sentiment is gathered via external market research and builds a model of how the brand is performing against projected positioning

— Data is gathered through creative techniques such as bulletin board focus groups, smartboards and scrapbooks


Co-creating the future of your brand

The Tools

• Brand evaluation studies provide a roadmap for the future• Consumers can co-create solutions to positioning problems

through creative research techniques

The brand evaluation cycle

23

Positioning review Co-creation Increased

brand equityBrand

evaluation


A demonstration of brand evaluation in practice


Smartboard Results

The Tools

25

ExpensiveSmells niceFor womenMoisturising

Un-naturalCleans

EthicalExpensive

Environmentally friendly

KindNatural

Won’t irritate

NaturalFruity

Refreshing


Building a Mood Board from Scrapbooks

The Tools

26

Mountains Original Source makes me think of mountains because it is fresh and

natural

Love this photo

A picture tells a thousand words


Smartboard Results

The Tools

27

Low Cost

Un-natural

Natural

High Cost

Evaluating Brand Attributes in a Digital Environment

FlexMR WebinarAugust 2015

evaluating brand attributes in a digital environment

Business