understanding your brand & your consumer - the bantam group
DESCRIPTION
The "aha" moment. Every brand has one. Have you had yours? Discover how market research can help you drive share by better understanding your brand and your consumer.TRANSCRIPT
an insight that is blindingly obvious once it’s stated
a-ha (the revelation) .. ..
WE INTERUPT THIS
PROGRAM FOR A MESSAGE
FROM OUR SPONSOR
WE INTERUPT THIS
PROGRAM FOR A MESSAGE
FROM OUR SPONSOR
This presenta,on is designed to be, well, presented – in person. When needed, we’ll give you some of the verbal commentary through a s,cky note – like this one here Let’s get back to business …
Hi!
RESEARCH TOOLS
aha
Today, we’ll share some of our favorite aha moments and the research tools that flipped the switch
(so to speak).
The aha moment that …
- ENGERGIZED an industry - CATAPULTED a brand
Up first …
considera,on
preference
brand awareness
category awareness
usage Before we dive in, a little Branding 101:
There are two ways to
drive share … THE BRAND FUNNEL
marke,ng, media, PR, $$$
considera,on
preference
brand awareness
category awareness
usage
1st
Drive Awareness (a.k.a. fill the funnel).
considera,on
preference
brand awareness
category awareness
usage
2nd
Drive Conversion
convert more people in
the funnel to users.
Intent to Purchase (usage) 2.5 YRS POST DUCK
PRE DUCK
This first story begins over a decade ago when a client in the
insurance industry – for whom we conducted annual brand tracking studies – launched a campaign that gave birth to what would
become one of America’s favorite advertising icons.
2.5 YRS POST DUCK
Intent to Purchase (usage) PRE DUCK
Awareness skyrocketed
yet Intent to Purchase remained low
The tracking study indicated that as a result of the
campaign …
We clearly needed to talk
to people …
well, listen.
One-on-one interviews among • Consumers • Corporate decision makers
QUALITATIVE RESEARCH
B2B audience
CONSUMERS
Supplement Insurance means …
DENTAL / VISION
They either currently have it OR invesBgated and it’s too expensive.
Supplemental Insurance means …
HMOs & 80/20s
They felt their exisBng coverage sufficed and assumed supplemental insurance wouldn’t kick in unBl a"er their exisBng
coverage was exhausted.
Here’s what they told us …
Supplemental Insurance Unnecessary
The aha … the way
the company was
describing their product
rendered it unnecessary in
minds of consumers and
corporate decision makers.
QUANTITATIVE RESEARCH
Qualitative research
revealed an a-ha; but we
need quantitative research
to validate it.
considera,on
preference
brand awareness
category awareness
usage
In this scenario, the brand
funnel breakdown was
with conversion – our
COMMUNICATIONS
were not working.
As a result, the primary objective of our quantitative survey was to identify the message that best solves our communication (and therefore conversion) issue.
“supplemental insurance”
“AFLAC insurance”
Intent to Purchase (usage) 1
We tested 3 messages to
see which generated the
highest purchase intent.
2
SUPPLEMENTAL INSURANCE
PAYS YOU CASH
The RESULT:
“Supplemental insurance”
has been removed from all
communications.
Lesson Learned: Sometimes the one that brought you to the dance is not the one that takes you home.
The aha moment that …
- REDEFINED a brand - REDIRECTED its prod dev
Up next …
SHOW Piece
This story takes place in the
furniture industry with a
brand that was historically
positioned as “show pieces.”
Awareness
Usage
YEARS & YEARS AGO
TODAY
The brand stats indicated the business challenge was the result of a conversion issue (yet again).
Cue Bantam’s SOCIAL CIRCLES –
(intimate gatherings among good
friends) – in this case, women aged
25+, on an evening at home with their
closest friends.
What surfaced were ten key attributes
women look for when shopping for
furniture.
DECISION MOTIVATORS
Coveted Brand Comfort
Timeless Style Durability
American Made
Good Value
for Price
Brand That’s Been
Around
Family Friendly
Variety of Finishes/ Upholstery Elegance
60
70
80
90
100
110
120
130
140
MARKET INDEX
Brand That’s Been Around
FuncBonality Timeless Style
Durability Family Friendly
Coveted Brand
American Made
Variety of Finishes/ Upholstery
Good Value
for Price
Elegance
The next step is to quantify the importance
of each purchase motivator.
114 110 110
105 104 101 101
86 85 84
60
70
80
90
100
110
120
130
140
MARKET INDEX
Brand That’s Been Around
FuncBonality Timeless Style
Durability Family Friendly
Coveted Brand
American Made
Variety of Finishes/ Upholstery
Good Value
for Price
Elegance
And now we have our Market Index.
Let’s pause for a quick lesson …
125
120
115
110
105
100
95
90
85
80
102 102 101 101 100 100 99 99 98 98
Brand That’s Been Around
MOST MOTIVATING
114 110 110
Func,onality Timeless Style
LEAST MOTIVATING
Variety of Finishes/ Upholstery
Coveted Brand
American Made
84 85 86
114 110 110
105
104 101 101
86
85
84
116
105
120
108
80
100
118
103
90
72
60
70
80
90
100
110
120
130
140
MARKET INDEX
OUR BRAND
Brand That’s Been Around
FuncBonality Timeless Style
Durability Family Friendly
Coveted Brand
American Made
Variety of Finishes/ Upholstery
Good Value
for Price
Elegance
Here’s where our brand performs compared to the
Market Index.
114 110 110
105
104 101 101
86
85
84
116
105
120
108
80
100
118
103
90
72
60
70
80
90
100
110
120
130
140
MARKET INDEX
OUR BRAND
Brand That’s Been Around
FuncBonality
Timeless Style
Durability
Family Friendly
Coveted Brand
American Made
Variety of Finishes/ Upholstery
Good Value
for Price
Elegance
STRENGTH
WEAKNESS
CATEGORY PROBLEMS
V V
So, we know the
motivators and their rank
of importance … which are
most difficult to find?
9%
38%
14%
40% 35% 37%
11% 9%
18%
28%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Brand That’s Been Around
Func,onality Timeless Style
Durability Family Friendly
Coveted Brand
American Made
Variety of Finishes/ Upholstery
Good Value for Price
Elegance
Your 4 biggest category problems …
MOTIVATORS
+ PROBLEMS
OPPORTUNITY
CONSUMER
CATEGORY BR
AND
1
9
2
3
4
6
7
8
1 9 2 3 4 6 7 8
Here comes the
quadrant analysis ….
1 9 2 3 4 6 7 8
1
9
2
3
4
6
7
8
MOTIVATORS
PROBLEMS
Key Influencers Attributes in the Key Influencer
quadrant are the
MOST motivating and
MOST problematic.
They represent the greatest
opportunity for growth.
The goal is for our brand to have as many “strengths” in this quadrant as possible and to use one or more of these attributes as the basis for positioning the brand.
1
9
2
3
4
6
7
8
1 9 2 3 4 6 7 8
MOTIVATORS
PROBLEMS
Table Stakes Attributes in this quadrant are the
MOST motivating but the LEAST problematic – meaning, the market has no
difficulty getting its expectations met on these attributes.
The goal is for our brand to be at parity with the attributes in this quadrant. Having a weakness here could be detrimental; however, having a strength here is not important.
1
9
2
3
4
6
7
8
1 9 2 3 4 6 7 8
MOTIVATORS
PROBLEMS
Future Opportuni,es Attributes in this quadrant are the
LESS motivating currently but VERY problematic.
If your brand solves a market problem (aka: has a strength in this
quadrant), then it is possible to force a migration to the Key Influencers
quadrant with enough attention.
1
9
2
3
4
6
7
8
1 9 2 3 4 6 7 8
MOTIVATORS
PROBLEMS
Low Return Attributes in this quadrant are the LEAST motivating and the LEAST problematic – suggesting that any investment here is likely to yield a low return in the market right now
1
9
2
3
4
6
7
8
1 9 2 3 4 6 7 8
MOTIVATORS
PROBLEMS
Durability
FuncBonality
Family Friendly
Good Value for Price
Variety of
Finishes/Upholstery
American Made
Elegance
Timeless Style
Brand That’s Been Around
Key Influencers Table Stakes
Future Opportuni,es Low Return
Coveted Brand
OPP
ORT
UNITY CH
ART
OPP
ORT
UNITY CH
ART
1
9
2
3
4
6
7
8
1 9 2 3 4 6 7 8
MOTIVATORS
PROBLEMS
Durability
FuncBonality
Family Friendly
Good Value for Price
Variety of
Finishes/Upholstery
American Made
Elegance
Timeless Style
Brand That’s Been Around
Key Influencers Table Stakes
Future Opportuni,es Low Return
Coveted Brand
When we lay our brand strengths
and weaknesses over the category
opportunities, we learn that the
foundation of our brand image –
show piece = timeless style,
elegance, coveted brand – is not
hard to to find and for some, not
motivating.
And, we have our
aha …
Our brand was fishing
in the wrong pond.
SHOW PIECE
LIVE PIECE
And they extended the
brand to include
LIVE PIECEs
along with the
SHOW PIECEs
Thank you!
If you’re looking to
discover your brand’s
“aha moment,”
give us a call.
We’d love to help!
Troy Nottingham President
[email protected] 404.815.9331 x225