Join one of quantilope's Solutions Consultants, Lindsey Guzman as she takes us through brand health tracking and the key metrics you need to incorporate to help your brand stay competitive.
Tracking research, particularly brand health tracking, provides key metrics that executives rely on to measure the success of their brand - such as measuring brand equity, measuring brand value, or monitoring funnel metrics over time. However, there hasn’t been much innovation in the field of brand health tracking since concepts like brand awareness were developed in the 1950s.
Fortunately, new principles from Professor Jenni Romaniuk and the Ehrenberg Bass Institute offer a modernized way to track category and brand insights. The approach is known as Better Brand Health Tracking (BBHT), and monitors elements such as Category Entry Points, aka CEPs, (what brings shoppers to a category) and Mental Availability metrics (which brands they consider when they get to those buying scenarios). BBHT also provides brands with a Mental Advantage analysis, letting them know where they perform better or worse than expected – given their brand's size and how typical a measured brand attribute or CEP is for the category.
In this session, Lindsey will discuss how these modernized brand tracking metrics help brands grow by increasing the number of buying situations they come to mind for. She'll showcase how to implement these metrics through an automated approach, using quantilope's syndicated soda category BBHT study as an example.
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