A brand is like a person. It’s considered you from the outside. But underneath that lies identity, personality, and sometimes wit. We help you create that brand presence by discovering your market’s perception of you.
The brand of a company is a composite of its identity, personality, values, reputation, and public perception. Did you know that the brand of a company is actually an iceberg?
Brand research is one of the best-kept secrets in your company’s toolkit. It’s an opportunity for growth that you have on a shelf at your office—but no one knows it exists.
There are at least seven types of brand research:
- Brand advocacy. How many of your customers are always willing to give you a big thumbs up?
- Brand awareness. We’ve all heard that a journey of a thousand miles begins with a single step. We disagree. If you’re not clear about your brand’s positioning, it doesn’t matter how far your marketing message travels. It won’t be noticed, and it won’t break through the clutter to reach the client you want to reach. Does your target market know who you are and consider you a serious option?
- Brand loyalty. Are you retaining customers?
- Brand penetration. What is the proportion of your target market using your brand?
- Brand perception. What do people think of your company’s identity or differentiating qualities?
- Brand positioning. What is the best way to differentiate your brand from others in the consumer’s mind and articulate it in a way that resonates?
- Brand value. How much are people willing to pay for an experience with your brand over another? A researcher will use several types of market research methods to assess your and your competitors’ strengths and weaknesses. Generally, they will conduct competitor research to get a picture of the overall marketplace. Focus groups and interviews can be used to learn about their emotions and associations with certain brands.
Market research surveys are useful to determine features and benefits that differentiate you from competitors. These are then translated into emotionally compelling consumer language.