Branding tends to be perceived as a soft, fluffy and elusive craft that lacks scientific rigour. Nothing could be further from the truth.
There are a host of advanced statistical techniques that can help brands objectively identify:
- Target segments profiles / personas
- The most lucrative segments
- Brand positioning associations
- Optimal brand experience design
- Factors that influence brand choice
- Salient brand benefits
- The factors that drive key outcomes of interest such as revenue, market share or brand relevance.
- Optimal brand communications investment for ROI
- Brand relationships, e.g. does loyalty drive satisfaction or vice versa?
- Barriers to brand adoption
The majority of marketers don’t even know these methods exist. Instead, they resort to highly erroneous, simplistic and misleading bar charts. Bad times.
Wouldn’t it be nice to objectively know who your segments are and which ones are willing to pay a price premium as a basis for focused brand comms spend? We’ve helped a number of clients reduce brand marketing risk and focus brand marketing spend in exactly this way. Their CEO and CFO love them for it. Good times.
Also published on Medium.