The New Brand Relationship by Robert Passikoff of Brand Keys - Presented at the Insight Innovation...
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Insight Innovation Exchange June 18, 2013 The New Brand Relationship
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Forget about awareness, interruption, or time-spent. Forget about tonality or entertainment. Forget about click-through rates, sponsorships, promotions, or ubiquitous distribution. The new brand relationship is nearly 100% emotionally-based. And without real emotional engagement metrics that correlate with consumer behavior and profits, if you rely on anything else you have a target painted on your back.
Transcript of The New Brand Relationship by Robert Passikoff of Brand Keys - Presented at the Insight Innovation...
Insight Innovation Exchange
June 18, 2013
The New Brand Relationship
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1,847 Products and ServicesNorth America & Western Europe
In 2000…
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Only 21% had any meaningful differentiation
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10%
2003 Benchmark
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Forget creeping commoditization.
This is galloping commoditization!
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Today…consumers are more “marketer” than “target”
P.S. They have been for nearly TWO decades
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EMOTIONAL ENGAGEMENT
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2007 Consumer Decision Process
70:30
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2013
85:15
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Global consulting firm that specializes in predictive brand engagementand loyalty metrics
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Category Ideal
4 Drivers
Drivers composed of category/customer ABVs
Location of ABVs 100% consumer-driven
Category Ideal = View/Compare/Buy
Brand Keys Model
Independent Validation: Brand Keys Metrics Correlate with Sales/Profitability
24/7 Wall St., a global equity analysis firm, ran a financial equity analysis against the 598 brands included in the Brand Keys Customer Loyalty Engagement Index (CLEI). They identified 11 brands Brand Keys assessed as best meeting consumer expectations and found that 10 of those 11 brands were the market leader in their category.
Aquetong Capital Advisors, an independent equity valuation firm, examined the correlation between Brand Keys brand equity metrics and brand value. Aquetong selected 10 categories from the Brand Keys CLEI, and found correlations ranging from a low of .830 to a high of .901, confirming the ability of Brand Keys assessments to predict impact on future purchase behavior, and work cross-category.
The ARF “First Opinion Research Review” validation of the model and methodology can be found at http://brandkeys.com/wp-content/uploads/2011/12/013007.ARFReview.BK_.pdf .
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2013: 17th Annual Customer Loyalty Engagement Index
Mass Merchandiser Cosmetics
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Reminder!
Driver names are representative of the ABVs the consumers put there via a 3-step higher-order statistical analysis.
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Makes me Look Better Confidence in Product Brand Value Ingredients100
120
140
160155
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2013Ex
pect
ation
Lev
els
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Feel Good and Lo
ok Good
Truste
d Brand That Knows M
e
Innovative & Nurtu
ring Brand For V
alue
Effortless
Transform
ation100
120
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2012Ex
pect
ation
Lev
els
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2013 2012
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Makes me Look Better
Confidence in Product
Brand Value Ingredients100
120
140
160155
140
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135
VS.
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2013: Aspects related to brand and emotion disappeared
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But NOT in the Luxury Cosmetics Category
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“Anomaly” “Not Me” “Not my brand”
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This year we identified:
11 categories where aspects of emotional engagement disappeared, and products - evaluated by their own customers - were statistically identical to each other
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Indistinguishable =Interchangeable =Commodity
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The Bottom Line
The new brand relationship is nearly 100% emotionally based.
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Emotional Engagement
NOT Awareness,Interruption,Time-spent,Tonality,Attention,Entertainment,Click-through rates,Sponsorships,Promotions,Ubiquitous distribution
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Engagement Metrics:
A predictive solution that is both innovative and comprehensive.
Anticipate the needs, wants, and expectations of audience segments.
Identify true emotional value propositions that will drive behavior.
How well your brand is meeting/exceeding expectations.
A truly consumer-centric emotional benchmark for the evaluation of the strategic success of a brand’s communications and marketing efforts.
Because…
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If you can’t emotionally engage customers, you’ll have a target on your back and the competition
won’t hesitate to take shots!
