Guiding strategy and brand perception
Challenge
A formerly regional beverage company began a rapid national expansion. Previously, they ran a brand health tracker with another vendor but discontinued it due to underwhelming results that were not actionable. They wanted a fresh, customized brand tracking program that provides actionable brand insights to help them identify opportunities for innovation and unmet needs/preferences, as well as overall brand health and perceptions of their brands.
Solution
Companies looking to innovative and optimize their products need innovative tools to help them answer their business questions. We created a customized brand tracking survey program for the client, including both typical brand health metrics and industry/category-specific attributes, as well as attributes geared towards the company’s strategic goals. Due to the rapid changes the brand was experiencing, the tracker is run twice yearly.
Our Advanced Analytics team conducted a Key Driver Analysis, Differential KDA, and MD PREF (a type of brand correlation analysis). We also included a social media listening add-on to assess online conversation around their brand, competitors, and the category in general to understand hot topics and emerging issues for the brand.
The initial round of the tracker reset the previous brand findings and established new benchmarks to guide the growth of the brand.
Results
The beverage company research team and stakeholders now have actionable insights that serve as a single source of truth for various teams across the company to use to identify opportunities to drive growth and guide innovation, impact development and direction of marketing materials, strategically influence product development, and provide direction on long-term brand strategies for cultivating brand loyalty and attracting new customers.
The brand tracker sheds new light on potential customers in a crowded and competitive beverage space, helping them better understand ways to introduce their line of products to consumers and create brand loyalty.
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