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Stockholm, Sweden

Case Study
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Telenor trusts Nepa to understand their business needs

The story

Telenor is one of the world’s largest mobile telecommunications companies, with operations worldwide. Based in Norway, the company has 172 million subscribers across Scandinavia and Asia.

But how does Telenor maintain their position? By fully understanding their brand insights, and where they should be heading next.

A long-term partnership with brand tracking experts Nepa has resulted in B2B and B2C
trackers being set up in key markets, with regular insights meetings to help Telenor
make the most of their data.

“We really appreciate the collaboration with Nepa, as they are genuinely interested in understanding our business challenges. We also love the Nepa dashboard, which is a valuable, hands-on tool to quickly help us with market insights.”

— Jessica Håkansson, Insight Manager, Telenor Sweden AB.

The plan

Over seven years, Nepa has set-up continuous brand trackers for three of Telenor’s key markets – Sweden, Denmark, and Finland. These trackers collect insights on all major KPIs including preference, NPS, and awareness, and offer Telenor the data to measure the changes in their brand across time. But pure data was not enough. They needed to be put into context, and have clear, actionable next steps.

Nepa were really driven to understand and meet Telenor’s business needs. Regular meetings with different teams in different markets were set-up so the two companies could ensure that the trackers were collecting all of Telenor’s business critical insights.

The result

Frequent meetings between the two teams have helped Telenor to really drill down into their insights. Nepa understands Telenor’s business needs, how they work, and Telenor’s working language, so they can make sure that reports are immediately relevant to the business. With such a close working relationship, it means that Nepa can also use this knowledge in other types of projects for Telenor. For example, using Nepa´s advanced package analysis whenever Telenor needs to create the right package deal, at the right price, for the right people.

By being flexible and really listening, Nepa can offer Telenor the real-time data they need to make faster, better business decisions.

“This insight analysis will play a crucial role when building our future strategy. Understanding customer preferences, attitudes, and behaviour is key for us to build a strong brand, to generate trust and create relevant services as a mobile, broadband, and TV operator.” said Jessica Håkansson, Insight Manager, Telenor Sweden AB.

The result

7

years

3

key markets

Our Approach

We convert data into
opportunities for growth

Marketing is an investment

Many brands are seeing budget cuts. But focusing only on short-term goals means you can miss the contribution of long-term brand building to growth. To demonstrate the ROI of your marketing you need a team that is experienced in linking your brand KPIs to your company’s financial performance, over time. We help you make those connections, which are essential for making marketing decisions that drive growth.

Ensure brand relevance

As technologies, trends, and industries shift, so do your customers. You need to keep on the pulse of people’s perceptions and behaviours by understanding how your brand is used, its personality, and how your communications are working in order to make adjustments over time.

Select the right channels

Assessing the strength of each individual media channel helps you to focus on the right investments. But most media measurement does not integrate and evaluate all the different channels now available. Our Media Mix Modelling assesses the ROI of all media investments including social, allowing brands to make decisions around budgets for every media, execution, campaign duration, and creative.

Increase market share

There are several ways to increase market share. Sell more to existing customers. Expand your customer base. Sell through new channels. However, in order to choose the right option, you need to understand your potential customer base.

Our Market Segmentation gives you clear, useful information on both current and potential customers. It splits people into different groups based on needs and values, offering insights on how to grow your brand in these different markets.

Measure your performance

As media changes, so do people and their behaviour. To improve performance, you need to evaluate and evolve your campaigns constantly, so that you can make and measure adjustments over time. We help you find the right mix of channels, messaging, creative, and format to increase your impact and ROI.

OUR WIDER OFFER

Adapt to win

Our 360-degree, continuous approach shows how consumers think, helps realise growth potential, and demonstrates return on investment.

Marketing Mix Modelling

Adjust activity in near real-time with models that are continuously learning from your media activity, sales performance, and brand health.

Campaign Evaluation

Running campaigns is all about constant evaluation and evolution. Find the right mix of channels, messaging, creative, and format to get the most out of your communications.

Custom Modules

Use additional modules to manage pricing, brand personality, brand assets and category drivers and place customers at the heart of your marketing decisions.

CONTACT

Get in touch

Case Study
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GANT trusts Nepa to help it grow

Bordeaux , Aquitaine / France - 11 25 2019 : Gant sign store luxury shop in street boutique

The story

Telenor is one of the world’s largest mobile telecommunications companies, with operations worldwide. Based in Norway, the company has 172 million subscribers across Scandinavia and Asia.

But how does Telenor maintain their position? By fully understanding their brand insights, and where they should be heading next.

A long-term partnership with brand tracking experts Nepa has resulted in B2B and B2C
trackers being set up in key markets, with regular insights meetings to help Telenor
make the most of their data.

“We really appreciate the collaboration with Nepa, as they are genuinely interested in understanding our business challenges. We also love the Nepa dashboard, which is a valuable, hands-on tool to quickly help us with market insights.”

— Jessica Håkansson, Insight Manager, Telenor Sweden AB.

The plan

Over seven years, Nepa has set-up continuous brand trackers for three of Telenor’s key markets – Sweden, Denmark, and Finland. These trackers collect insights on all major KPIs including preference, NPS, and awareness, and offer Telenor the data to measure the changes in their brand across time. But pure data was not enough. They needed to be put into context, and have clear, actionable next steps.

Nepa were really driven to understand and meet Telenor’s business needs. Regular meetings with different teams in different markets were set-up so the two companies could ensure that the trackers were collecting all of Telenor’s business critical insights.

The result

Frequent meetings between the two teams have helped Telenor to really drill down into their insights. Nepa understands Telenor’s business needs, how they work, and Telenor’s working language, so they can make sure that reports are immediately relevant to the business. With such a close working relationship, it means that Nepa can also use this knowledge in other types of projects for Telenor. For example, using Nepa´s advanced package analysis whenever Telenor needs to create the right package deal, at the right price, for the right people.

By being flexible and really listening, Nepa can offer Telenor the real-time data they need to make faster, better business decisions.

“This insight analysis will play a crucial role when building our future strategy. Understanding customer preferences, attitudes, and behaviour is key for us to build a strong brand, to generate trust and create relevant services as a mobile, broadband, and TV operator.” said Jessica Håkansson, Insight Manager, Telenor Sweden AB.

The result

7

years

3

key markets

Our Approach

We convert data into
opportunities for growth

Marketing is an investment

Many brands are seeing budget cuts. But focusing only on short-term goals means you can miss the contribution of long-term brand building to growth. To demonstrate the ROI of your marketing you need a team that is experienced in linking your brand KPIs to your company’s financial performance, over time. We help you make those connections, which are essential for making marketing decisions that drive growth.

Ensure brand relevance

As technologies, trends, and industries shift, so do your customers. You need to keep on the pulse of people’s perceptions and behaviours by understanding how your brand is used, its personality, and how your communications are working in order to make adjustments over time.

Select the right channels

Assessing the strength of each individual media channel helps you to focus on the right investments. But most media measurement does not integrate and evaluate all the different channels now available. Our Media Mix Modelling assesses the ROI of all media investments including social, allowing brands to make decisions around budgets for every media, execution, campaign duration, and creative.

Increase market share

There are several ways to increase market share. Sell more to existing customers. Expand your customer base. Sell through new channels. However, in order to choose the right option, you need to understand your potential customer base.

Our Market Segmentation gives you clear, useful information on both current and potential customers. It splits people into different groups based on needs and values, offering insights on how to grow your brand in these different markets.

Measure your performance

As media changes, so do people and their behaviour. To improve performance, you need to evaluate and evolve your campaigns constantly, so that you can make and measure adjustments over time. We help you find the right mix of channels, messaging, creative, and format to increase your impact and ROI.

OUR WIDER OFFER

Adapt to win

Our 360-degree, continuous approach shows how consumers think, helps realise growth potential, and demonstrates return on investment.

Marketing Mix Modelling

Adjust activity in near real-time with models that are continuously learning from your media activity, sales performance, and brand health.

Campaign Evaluation

Running campaigns is all about constant evaluation and evolution. Find the right mix of channels, messaging, creative, and format to get the most out of your communications.

Custom Modules

Use additional modules to manage pricing, brand personality, brand assets and category drivers and place customers at the heart of your marketing decisions.

CONTACT

Get in touch

Blog Posts
Back

Generation Alpha – The Start Of Something New

August 23, 2022

Children playing on swings

Karen Chandler


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At Nepa, we understand people. It’s one of our greatest strengths as an insights agency. We are curious to know what people are thinking and why. But how about Generation Alpha? The oldest of this generation were born the year the iPad launched, which means that they are now on the cusp of becoming teenagers, with their own thoughts, opinions, and life values.

Generation Alpha India : Digital Se Kuch Aage” is an exploratory study that dives into this cohort of the future of India. They have very different ideas on how brands should operate, organisations should function, and brands should evolve.

We are talking self-dependence, the power of youth, and the next gen potential. The possibilities from tuning in to what our youngest can bring to the table are endless!” said Esha Nagar, MD Nepa India.

To find out more, watch our Generation Alpha trailer!

To access the full report, simply fill in your details and we will get back to you.

Case Study
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VARNER trusts Nepa to uncover its potential

VARNER logo superimposed over many models of jeans from different denim, texture, color hang on hangers

The story

Telenor is one of the world’s largest mobile telecommunications companies, with operations worldwide. Based in Norway, the company has 172 million subscribers across Scandinavia and Asia.

But how does Telenor maintain their position? By fully understanding their brand insights, and where they should be heading next.

A long-term partnership with brand tracking experts Nepa has resulted in B2B and B2C
trackers being set up in key markets, with regular insights meetings to help Telenor
make the most of their data.

“We really appreciate the collaboration with Nepa, as they are genuinely interested in understanding our business challenges. We also love the Nepa dashboard, which is a valuable, hands-on tool to quickly help us with market insights.”

— Jessica Håkansson, Insight Manager, Telenor Sweden AB.

The plan

Over seven years, Nepa has set-up continuous brand trackers for three of Telenor’s key markets – Sweden, Denmark, and Finland. These trackers collect insights on all major KPIs including preference, NPS, and awareness, and offer Telenor the data to measure the changes in their brand across time. But pure data was not enough. They needed to be put into context, and have clear, actionable next steps.

Nepa were really driven to understand and meet Telenor’s business needs. Regular meetings with different teams in different markets were set-up so the two companies could ensure that the trackers were collecting all of Telenor’s business critical insights.

The result

Frequent meetings between the two teams have helped Telenor to really drill down into their insights. Nepa understands Telenor’s business needs, how they work, and Telenor’s working language, so they can make sure that reports are immediately relevant to the business. With such a close working relationship, it means that Nepa can also use this knowledge in other types of projects for Telenor. For example, using Nepa´s advanced package analysis whenever Telenor needs to create the right package deal, at the right price, for the right people.

By being flexible and really listening, Nepa can offer Telenor the real-time data they need to make faster, better business decisions.

“This insight analysis will play a crucial role when building our future strategy. Understanding customer preferences, attitudes, and behaviour is key for us to build a strong brand, to generate trust and create relevant services as a mobile, broadband, and TV operator.” said Jessica Håkansson, Insight Manager, Telenor Sweden AB.

The result

7

years

3

key markets

Our Approach

We convert data into
opportunities for growth

Marketing is an investment

Many brands are seeing budget cuts. But focusing only on short-term goals means you can miss the contribution of long-term brand building to growth. To demonstrate the ROI of your marketing you need a team that is experienced in linking your brand KPIs to your company’s financial performance, over time. We help you make those connections, which are essential for making marketing decisions that drive growth.

Ensure brand relevance

As technologies, trends, and industries shift, so do your customers. You need to keep on the pulse of people’s perceptions and behaviours by understanding how your brand is used, its personality, and how your communications are working in order to make adjustments over time.

Select the right channels

Assessing the strength of each individual media channel helps you to focus on the right investments. But most media measurement does not integrate and evaluate all the different channels now available. Our Media Mix Modelling assesses the ROI of all media investments including social, allowing brands to make decisions around budgets for every media, execution, campaign duration, and creative.

Increase market share

There are several ways to increase market share. Sell more to existing customers. Expand your customer base. Sell through new channels. However, in order to choose the right option, you need to understand your potential customer base.

Our Market Segmentation gives you clear, useful information on both current and potential customers. It splits people into different groups based on needs and values, offering insights on how to grow your brand in these different markets.

Measure your performance

As media changes, so do people and their behaviour. To improve performance, you need to evaluate and evolve your campaigns constantly, so that you can make and measure adjustments over time. We help you find the right mix of channels, messaging, creative, and format to increase your impact and ROI.

OUR WIDER OFFER

Adapt to win

Our 360-degree, continuous approach shows how consumers think, helps realise growth potential, and demonstrates return on investment.

Marketing Mix Modelling

Adjust activity in near real-time with models that are continuously learning from your media activity, sales performance, and brand health.

Campaign Evaluation

Running campaigns is all about constant evaluation and evolution. Find the right mix of channels, messaging, creative, and format to get the most out of your communications.

Custom Modules

Use additional modules to manage pricing, brand personality, brand assets and category drivers and place customers at the heart of your marketing decisions.

CONTACT

Get in touch

Blog Posts
Back

How to prove marketing is an investment, not a cost

July 25, 2022

Close up of two credit cards

Karen Chandler


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With global inflation increasing and the cost-of-living crisis dominating the news, it’s not a surprise that some companies are considering cutting their marketing budgets. In fact, the UK Government has even suggested that companies cut the prices for consumers using money they would otherwise use on marketing. For many businesses, both large and small, marketing is seen as a revenue-taking department; something that can be trimmed as and when required.

But this is a very short-term view, with long-term repercussions. The Harvard Business Review has examined these effects in companies that reduce spending in recessions, and come to the conclusion that firms that maintain their marketing spend while reallocating it to suit the context – be it in product developing, advertising and communication, or pricing – typically fare better than firms that cut their marketing investment”.

But knowing this, and being able to prove it to your CEO, MD, board of directors, or investors is different. So how do you do this? We can start with cold, hard data!

Prove your ROI.

Marketing Mix Modelling allows you to see which bits of media investment offer the best ROI right now, long-term, and which combinations give the best results. It takes all of your sales figures, media data, and general market trends, alongside any seasonal effects and macro trends. The data is modelled then put into a simulation where you can see what the optimal media mix is for your budget, or even if you should increase it in certain areas. It clearly demonstrates the impact these changes will have on short-term sales and long-term brand KPIs.

Track your brand.

Continuous brand tracking allows you to see exactly how your brand is doing in the wider world alongside your competitors. By understanding your brand’s strengths and weaknesses, you can be better equipped to deal with events such as the cost of living crisis or new market entrants. Brand tracking gives your marketing team the data they need to get your audience to listen. Nepa’s Brand Noise Reduction tools further strengthen continuous tracking to make this as accurate as possible.

Ensure your campaigns are as efficient as possible.

Relying on your gut feelings simply isn’t good enough in 2022. Campaign evaluations allow you to prove that the campaign you have put together will have the impact you want before you print your billboard posters or commit to costly tv slots. It allows you to prove to the budget owners that you’re targeting the right people, at the right time, in the right way.

When your competitors are cutting back, your share of voice will increase if you can maintain or increase your advertising budget, but in the right ways. Want to know more about dynamic marketing intelligence? Get in touch!

Webinars
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Step up your brand tracking

May 26, 2022

Nepa Finland MD Eeva Karhu speaking about Data Driven Brand Management

Karen Chandler


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After two long years, Nepa live events are back! Last week Finnish MD Eeva Karhu hosted a hybrid event in Helsinki on the theme of Brand Tracking, and how to make the most of your data. But why is this important?

What should you know before starting your Brand Tracking?

Eeva Karhu presenting at the breakfast event about Brand Tracking

Brand Tracking isn’t a secret ingredient – it’s used by many companies. However, are they doing it right? Our experience is that companies are often under-using their brand tracker and aren’t taking full advantage of the insights being uncovered.

In a tumultuous economic environment, brand tracking is more important than ever. It can help CMOs and marketing teams quickly spot and address the challenges of an ever changing landscape. Additionally, with consumers now being able to compare brands online in an increasingly competitive environment, companies need to nail their positioning and establish new digital business models.

Differentiation is important, but it’s not easy. To stand out, brands need clear, actionable insights. You want to know what consumers think (about you!), and if they change their minds. That’s why tracking is so important.

There are two different types of Brand Tracking formulas, The Report Card and The Business Tool.

  • The Report Card is best used when a client is focused on just a couple of KPIs. It’s mainly used to keep track of the marketing department’s decisions on brand. These are used to measure a brand, target groups, and attributes connected to the brand strategy.
  • The Business Tool does all that and even more! It aims to understand the wider market and the ‘why’ behind consumer decisions. Brands can identify new business opportunities as they arise, answer the questions posed to your business, and choose the right outcome. This type of tracking is used daily, and it involves people outside of marketing and insights; the C-suite, the finance department, and customer services.

READ ALSO: What is brand tracking and why is it important?

What is the best practice for Brand Tracking?

We believe that a successful brand tracking should not only be used as a Report Card but also serve as a Business Tool, with continuity being key. Continuous brand tracking can assess marketing efforts and measure both media efficiency and long-term brand building. However, the key brand tracking factors include:

  • Proactivity This covers competitors and consumers beyond your target group. This is how your company can learn and see what competitors are doing right and wrong, and what consumers are being swayed toward.
  • Longevity This allows for Brand Tracking to withstand changes in the market. Even when your brand strategy changes, your Brand Tracking can stay on course.
  • Engagement This aspect will create questions from all levels internally and boost the usage of the data within the business.

To understand how to get the most value out of Brand Tracking, some fundamental questions must be answered first: What is playing on your stakeholders’ minds? What are your business goals? Where are you threatened? Where are the opportunities? Think about your planning cycle, when do budgets come out? When do decisions on media plans happen? With this knowledge you know exactly when certain insights are needed.

There are several different Brand Tracking modules to consider. If you’re focusing on communication, you should consider aspects such as your brand funnel to know whether your brand is moving in the correct direction, demographics to understand if extra work is needed to regain or bolster the targeted audiences, and media habits to decide which media channels are most successful. This is used best in a company with high media spend, as it monitors communication effectiveness, whilst offering the ability to optimise the media and develop new, more effective creatives.

If your brand wants to focus on positioning, brand tracking is best. It can monitor exactly where both you and your competitors sit in the landscape, alongside how everyone’s marketing activities are affecting your brand image. The best modules for looking at brand positioning include the brand funnel and demographics, as well as drivers to understand what the brands main associations should be. Brand Touch, on the other hand allows you to recognise if your brand is developing according to the positioning strategy, whilst Willingness to Pay shows you how much a consumer would pay for the service and to find out the real value of the brand. It’s best practice to look at your metrics before and after the campaign.

Getting the correct technical set-up is just the start; you also need to grow a sense of ownership and engagement to guarantee that your organisation uses your Brand Tracking to its full potential and makes the most of the investment. Get everyone on board, with start-up meetings and workshops, keep it simple with a dashboard designed for marketers, and keep it interesting with meetings around challenges the brand faces. Don’t just present the data.

For more information on our Brand Tracking, reach out to us at hello@nepa.com.

COMING SOON:  Nepa Originals report: ‘A view from the future – Outlook on what the future holds from foresight experts.’

Case Study
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Kellogg’s trusts Nepa to help it remain relevant

Mississauga, On, Canada - October 24, 2020: A close up Kellogg's

The story

Telenor is one of the world’s largest mobile telecommunications companies, with operations worldwide. Based in Norway, the company has 172 million subscribers across Scandinavia and Asia.

But how does Telenor maintain their position? By fully understanding their brand insights, and where they should be heading next.

A long-term partnership with brand tracking experts Nepa has resulted in B2B and B2C
trackers being set up in key markets, with regular insights meetings to help Telenor
make the most of their data.

“We really appreciate the collaboration with Nepa, as they are genuinely interested in understanding our business challenges. We also love the Nepa dashboard, which is a valuable, hands-on tool to quickly help us with market insights.”

— Jessica Håkansson, Insight Manager, Telenor Sweden AB.

The plan

Over seven years, Nepa has set-up continuous brand trackers for three of Telenor’s key markets – Sweden, Denmark, and Finland. These trackers collect insights on all major KPIs including preference, NPS, and awareness, and offer Telenor the data to measure the changes in their brand across time. But pure data was not enough. They needed to be put into context, and have clear, actionable next steps.

Nepa were really driven to understand and meet Telenor’s business needs. Regular meetings with different teams in different markets were set-up so the two companies could ensure that the trackers were collecting all of Telenor’s business critical insights.

The result

Frequent meetings between the two teams have helped Telenor to really drill down into their insights. Nepa understands Telenor’s business needs, how they work, and Telenor’s working language, so they can make sure that reports are immediately relevant to the business. With such a close working relationship, it means that Nepa can also use this knowledge in other types of projects for Telenor. For example, using Nepa´s advanced package analysis whenever Telenor needs to create the right package deal, at the right price, for the right people.

By being flexible and really listening, Nepa can offer Telenor the real-time data they need to make faster, better business decisions.

“This insight analysis will play a crucial role when building our future strategy. Understanding customer preferences, attitudes, and behaviour is key for us to build a strong brand, to generate trust and create relevant services as a mobile, broadband, and TV operator.” said Jessica Håkansson, Insight Manager, Telenor Sweden AB.

The result

7

years

3

key markets

Our Approach

We convert data into
opportunities for growth

Marketing is an investment

Many brands are seeing budget cuts. But focusing only on short-term goals means you can miss the contribution of long-term brand building to growth. To demonstrate the ROI of your marketing you need a team that is experienced in linking your brand KPIs to your company’s financial performance, over time. We help you make those connections, which are essential for making marketing decisions that drive growth.

Ensure brand relevance

As technologies, trends, and industries shift, so do your customers. You need to keep on the pulse of people’s perceptions and behaviours by understanding how your brand is used, its personality, and how your communications are working in order to make adjustments over time.

Select the right channels

Assessing the strength of each individual media channel helps you to focus on the right investments. But most media measurement does not integrate and evaluate all the different channels now available. Our Media Mix Modelling assesses the ROI of all media investments including social, allowing brands to make decisions around budgets for every media, execution, campaign duration, and creative.

Increase market share

There are several ways to increase market share. Sell more to existing customers. Expand your customer base. Sell through new channels. However, in order to choose the right option, you need to understand your potential customer base.

Our Market Segmentation gives you clear, useful information on both current and potential customers. It splits people into different groups based on needs and values, offering insights on how to grow your brand in these different markets.

Measure your performance

As media changes, so do people and their behaviour. To improve performance, you need to evaluate and evolve your campaigns constantly, so that you can make and measure adjustments over time. We help you find the right mix of channels, messaging, creative, and format to increase your impact and ROI.

OUR WIDER OFFER

Adapt to win

Our 360-degree, continuous approach shows how consumers think, helps realise growth potential, and demonstrates return on investment.

Marketing Mix Modelling

Adjust activity in near real-time with models that are continuously learning from your media activity, sales performance, and brand health.

Campaign Evaluation

Running campaigns is all about constant evaluation and evolution. Find the right mix of channels, messaging, creative, and format to get the most out of your communications.

Custom Modules

Use additional modules to manage pricing, brand personality, brand assets and category drivers and place customers at the heart of your marketing decisions.

CONTACT

Get in touch

Blog Posts
Back

How to measure your brand strength

January 14, 2022

Karen Chandler


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The US Engineer W. Edwards Deming once said, “just because you can measure everything, doesn’t mean you should”. In other words, if you’re training to run a marathon you would be interested in measuring your time and resistance, and not in how much you can bench press. Only by knowing what metrics are relevant to track your improvement, can you define an effective workout and reach your goals.

The same goes for brands. If you want to be able to improve your brand strength, you need to know what to measure and how to measure it. This is what we call finding the right KPIs. Most companies we meet struggle with choosing the right brand measures. They often rely on too many metrics (falling into the trap W. Edwards cited) and end up having too much data without a clear direction.

So how do you identify which are the right metrics for your brand? Let us guide you through four different approaches which brands can use to identify which KPIs are truly relevant for them to drive growth.

1. The core metric

Through brand tracking we can identify one or a few core KPIs; among the most common Salience, NPS, Affinity, Preference. There are several frameworks that can be used when selecting these KPIs – such as Aaker’s, Keller’s, or Sharp’s – but the main criteria is to evaluate external effectiveness and internal actionability. You need to know that improving the selected KPI will give you the benefits to business you desire and the required actions to improve it.

Relying on one selected KPI based on brand tracking has multiple benefits. Nailing your core measurement system provides clarity to the business and a direction for progression in the future, on top of that measuring too many operational KPIs has a cost. By using fewer KPIs insights teams can invest their time in showing the value of the data and insights they generate. Fewer KPIs reduces operational costs, meaning budgets can be reallocated across the business to drive action based on findings.

This is the most straightforward approach. However, its simple nature only focuses on one part of the picture and might not provide you with a holistic view.

2. The ultimate metric

This is an aggregated approach where multiple measurements are combined into one index. Through this approach you can identify one brand index based on several brand tracking metrics – such as centrality and distinctiveness – that can be used across markets and categories. These indexes are based on a combination of different KPIs and provide a holistic concept, supporting one common view of development.

If identified correctly, the same index can be used across markets and functions. Attentions will automatically be focused on the weakest metric, for each market to get the best effect on the total index, which often leads to the correct priorities.

3. The growth metric

American business magnate Warren Buffett once said that pricing power is “the single most important decision in evaluating a business”. Using an equity based KPI allows you to understand how your business’ activities connect to financial performance, a connection which is essential for making business decisions that drive growth. Our third approach measures pricing power as Willingness to Pay, which evaluates consumers’ willingness to pay a higher price for a product or service versus the competition through Choice Based Conjoint. By using WTP, sales are related to market share, guiding, and validating all brand building efforts directly to business growth.

It’s easy to connect this KPI within the organization. It is often beneficial to complement the WTP KPI with a more sales oriented KPI, such as market share, to measure short term financial effects of communication as well.

4. The engagement metric

Engagement can be based on different variables: word of mouth, mentions, likes, follows, shares, comments, click-throughs, organic search, website visits and so on. By tracking and combining these different elements you can obtain your engagement KPI.

This approach gives you direct access to consumers and immediate feedback. However, it isn’t the most accurate KPI as it’s based on so many channels, so it is best used in combination with other KPIs. At Nepa, we’re developing a Brand Health index using Primary Dynamic Factor Analysis, which can identify the underlying pattern of change in several measurements, removing the “noise” in the data to uncover actual brand development.

Ultimately, if you pick the wrong KPI for your brand objectives or too many KPIs to keep track of, you won’t be able to measure whether your strategy is effective or not. You won’t see the result that you’re expecting to see. But by training the right “brand muscle” and keeping track of your improvements you will be able to reach your end goal.

By Robert Beatus, Head of R&D at Nepa

Want to know more? Contact us today and our brand experts will help you!

 

Read also other Nepa Brand Series blog posts:

Block the background noise, listen to the music. Making your brand data more accurate and actionable.

Forget me not, how to stand out and be remembered.

Introduction to Brand Touch – are you Batman or the Joker?