Marketers have always had a love/hate relationship with brand trackers. The standard method of brand tracking is losing value quickly. For marketers it’s no longer enough to be aware of the performance of their brand—instead they need to understand where the key growth opportunities lie and how to influence them.
Powered by Bayesian data science, Gradient’s brand perception analysis will help you identify the clear growth opportunities in your brand funnel and tell you how to address them. Gradient estimates the causal relationship between key brand attributes and the brand equity metrics you care about through validated statistical models. These estimates are then reported in an easy to digest dashboard with clear recommendations, allowing any marketer to start making immediate improvements to their brand’s perception.
To measure your brand’s equities, respondents are first asked whether they are aware, have considered purchasing from your brand, and if they have actually made a purchase in the past. Next, each brand they are aware of is ranked across 10-15 specific brand equities that your company cares about (e.g., trendy, innovative, quality, etc.).
With this data, we will conduct a Bayesian regression analysis that measures the causal relationship between which brand equities are most predictive of awareness, consideration, purchase, or any other outcome variable of interest (e.g., LTV, annual spend, or tenure). This will provide you with the brand qualities that high-value and other customers care about most and those that are less relevant across the full competitor set.
The consideration and purchase share of an attribute represents how correlated ratings on a particular attribute are with the probability of a client considering or actually purchasing from your brand.
Increases in consideration and purchase shares due to attribute performance explain how much more or less likely an individual will be to consider or purchase from your brand for every unit an attribute is rated higher.
Check out how our customers have used brand perception to achieve their business goals.
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