Evaluating Brand Attributes in a Digital Environment
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The webinar by FlexMR discusses brand evaluation in a digital environment, focusing on methods to measure both tangible and intangible brand attributes. Key speakers include Dorota Rewinska, Amy Eborall, and Paul Hudson, who emphasize the importance of using qualitative and quantitative research tools for effective brand assessment. The session covers criteria for evaluation and demonstrates various tools such as perceptual maps, preference models, and online platforms like smartboards and scrapbooks.
Evaluating Brand Attributes in a Digital Environment
- 1. Evaluating Brand Attributes in a Digital Environment FlexMR Webinar August 2015
- 2. FlexMR www.flexmr.net Who will be speaking Introduction Dorota Rewinska Insight Manager, Research Having overseen many large-scale, multi-method projects during the course of her career, Dorota is skilled in all online research methodologies and knows intuitively the project design that will achieve the desired outcomes. Amy Eborall Senior Research Associate With a solid understanding of research methodology and interpretation Amy translates raw data into actionable business insight with ease. Amy leads both quantitative and qualitative B2B and B2C projects. Paul Hudson CEO & Founder Paul has over fifteen years of market research experience. A regular guest speaker at AQR and ICG events, he is an online qualitative research expert actively involved in developing new techniques for online application.2
- 3. FlexMR www.flexmr.net An overview of the session Introduction • A brief introduction to brand evaluation – What is brand evaluation? – How do I measure the intangible? – What are the best evaluation criteria? • The best research tools for online brand evaluation – An introduction to the tools – Combining qualitative and quantitative research • Brand evaluation in practice 3
- 4. FlexMR www.flexmr.net A brief introduction to brand evaluation 4
- 5. FlexMR www.flexmr.net “Brand evaluation is the process of understanding an quantifying both the tangible and intangible aspects of a brand – converting it into a monetary value for the purpose of increasing brand equity.” What is a brand evaluation? An Introduction to Brand Evaluation 5
- 6. FlexMR www.flexmr.net What is a brand evaluation? An Introduction to Brand Evaluation 6 The tangible • Branded assets • Liquid capital • Physical stock • Share of market The intangible • Brand awareness • Brand recognition • Customer perception • Core competencies Driven by quantitative internal analysis Driven by qualitative external analysis Brand Evaluation
- 7. FlexMR www.flexmr.net How do I measure the intangible? 7
- 8. FlexMR www.flexmr.net A range of techniques exist to evaluate the value and perception of a brand: • Perceptual maps • Preference models • Behavioural mapping Each method of evaluation has a unique value and set of strengths. Identify the most appropriate methods for your brand before setting out on your market research. How do I measure the intangible An Introduction to Brand Evaluation 8
- 9. FlexMR www.flexmr.net Perceptual maps An Introduction to Brand Evaluation 9 Variable 1 (e.g. quality) Variable 2 (e.g. value) Company 1 Company 2 Company 3 Company 4
- 10. FlexMR www.flexmr.net Preference models An Introduction to Brand Evaluation 10 Reject Brand Indifferent to Brand Prefer Brand Aware of brand Unaware of brand 20 % 50 % 15 % 15 %
- 11. FlexMR www.flexmr.net Behavioural modelling An Introduction to Brand Evaluation 11 Re-purchase Purchase Positive Sentiment Negative Sentiment Behaviour in %
- 12. FlexMR www.flexmr.net What are the best evaluation criteria? 12
- 13. FlexMR www.flexmr.net To generate an effective model, accurate evaluation criteria must be selected. Examples of measurement criteria: • Purchase intention • Brand awareness • Brand loyalty • Brand associations What are the best evaluation criteria? An Introduction to Brand Evaluation 13
- 14. FlexMR www.flexmr.net Dimensions of brand associations An Introduction to Brand Evaluation 14 Dimensions of brand associations Personality Product- related attributes Lifestyle Place Emotions
- 15. FlexMR www.flexmr.net Internal: • Brand positioning • Employee awareness • Employee sentiment Brand evaluation metrics An Introduction to Brand Evaluation External: • Key influencer opinion • Sentiment & text analysis • Mood boards & co-creation • Competitor positioning analysis • Social listening 15
- 16. FlexMR www.flexmr.net The best research tools for online brand evaluation 16
- 17. FlexMR www.flexmr.net Bulletin Board The Tools • Embed images and video • Range of formatting options Categorise threads for simple navigation and allocate different bulletin board focus groups to different participant segments More control for you, more convenience for your customer • Set completion targets • Individual private prompting • Consumer group controlled 17 Bulletin BoardMR
- 18. FlexMR www.flexmr.net Smartboard The Tools 18 • Participant page integration • Completion targets • Export annotations Invite participants to comment on image elements via sticky note and watch as each note turns into a mini group discussion all of its own • A discussion on an image • Sentiment tagging of comments • Heat-mapping tool SmartboardMR
- 19. FlexMR www.flexmr.net Scrapbook The Tools 19 • Comment on images • Download as zip file Benefit from the popularity of digital scrapbooking Invite participants to pin images, comment and discuss • Topic and individual scrapbooks • Tag images • Sort images ScrapbookMR
- 20. FlexMR www.flexmr.net Open Poll The Tools 20 • Limit the number of characters • Participant page integration Qualitative insight at the click of a button Expand your understanding at speed with an open poll Simple, fast, effective • One-click feedback • Display results with wordle • Project page compatible Open PollMR
- 21. FlexMR www.flexmr.net Integrating qualitative and quantitative research 21
- 22. FlexMR www.flexmr.net Integrating qualitative and quantitative research The Tools Brand evaluations are made up of two components Brand equity (a valuation of the brand) Brand sentiment (a numerical aggregation public opinion) 22 • Financial data is gathered internally, but combined with equity data based on how much the brand could be sold for • Brand sentiment is gathered via external market research and builds a model of how the brand is performing against projected positioning — Data is gathered through creative techniques such as bulletin board focus groups, smartboards and scrapbooks
- 23. FlexMR www.flexmr.net Co-creating the future of your brand The Tools • Brand evaluation studies provide a roadmap for the future • Consumers can co-create solutions to positioning problems through creative research techniques The brand evaluation cycle 23 Positioning review Co-creation Increased brand equity Brand evaluation
- 24. FlexMR www.flexmr.net A demonstration of brand evaluation in practice 24
- 25. FlexMR www.flexmr.net Smartboard Results The Tools 25 Expensive Smells nice For women Moisturising Un-natural Cleans Ethical Expensive Environmentally friendly Kind Natural Won’t irritate Natural Fruity Refreshing
- 26. FlexMR www.flexmr.net Building a Mood Board from Scrapbooks The Tools 26 Mountains Original Source makes me think of mountains because it is fresh and natural Love this photo A picture tells a thousand words
- 27. FlexMR www.flexmr.net Smartboard Results The Tools 27 Low Cost Un-natural Natural High Cost
- 28. Evaluating Brand Attributes in a Digital Environment FlexMR Webinar August 2015
Editor's Notes
- #2: Good afternoon everyone and welcome to today’s webinar, hosted by FlexMR. Over the next 45 minutes we will be discussing how to evaluate brand attributes in a digital environment. Before we go any further, I would like to quickly run through the functionality of GoToWebinar for those who have not used it before. I currently have all attendees on mute to avoid any audio feedback and background noise distractions. Throughout the presentation, a member of staff will be monitoring the chat function. You may enter questions at any point during the presentation. We will try to answer as many as possible at the end. If we are unable to answer your question due to time constraints, we will send you an email once the presentation has concluded.
- #4: Over the next 45 minutes our experts will provide a brief overview of brand evaluation from both a qualitative and quantitative viewpoint. We will then introduce the tools available to help you effectively evaluate brands, and finally provide a demonstration of brand evaluation in action using our own online platform. I will now hand over to Dot and let the webinar get underway.
- #6: Mobile usage
- #7: Mobile usage