I will show you how to use the Brand Love Curve through every part of the management of a brand, using it to link analytics to issues, building a brand vision to inspire the team and to help focus strategies and execution on those that move the brand into a better position to gain more love. In terms of analytics, the Brand Love Curve matches up with the brand funnel. Indifferent brands have very skinny brand funnels with low awareness, low purchase and negligible repeat and loyalty. Brands that are liked have high awareness and sales, but without an emotional connection, they almost have no loyalty. The beloved brands had the most robust brand funnels, with strong awareness, purchase, repeat and loyalty scores.
A classic funnel would measure awareness, familiar, consider, purchase, repeat and loyal. But in the change of consumer behavior over the last 10 years, I would now add SEARCH between consider and purchase.
At the very least, you should be measuring Awareness, Purchase and Loyalty rates. While sales, share and profits are the obvious measurements of a brand, they are easy to see but are the end result.
How to analyze your brand using Brand Funnels
Every brand should understand the details of their Brand Funnel, knowing what is causing any strength, weakness, changes versus last year or gaps versus competitors. A classic brand funnel should measure awareness, familiar, consider, purchase, repeat and loyal. At the very least, you should be measuring awareness, purchase and repeat. It is not just about driving particular numbers on the funnel, but moving consumers from one stage of the funnel to the next.
The first thing to do is look at the absolute brand funnel scores (A), comparing them to last year, to competitors or versus category norms. Then look at the brand funnel ratios (B), finding the percent your brand is able to convert from one stage of the funnel to the next. To create the ratios, divide the absolute number by the number above it on the funnel. In the example, take the familiar score of 87% and divide it by the awareness score of 93% to determine the conversion ratio of 91%. That means 91% of those who are aware become familiar.
The brand funnel becomes more powerful when you start looking at the ratios.
The first thing to do is lay out the ratios scores (C) of your brand versus your nearest competitor. Then, find ratio gaps (D) by subtracting the competitor’s ratio scores from your brand’s ratio scores. In the example, the first ratio moving from aware to familiar would create a -7% ratio gap (91% – 97%) which means your brand trails your competitor by 7%. You will start to see where your ratio will either be stronger or weaker than the comparison brand. Finally, you should start analyzing the difference (E) between the two brands and tell a strategic story to explain each gap. Looking at the example, you can see Gray’s and Dad’s have similar scores at the top part of the funnel, but Gray’s starts to show real weakness (-23% and -51% gap) as it moves to repeat and loyalty. This creates a gap you need to fix through your Brand Plan.
The brand funnel data explains where your brand sits on the Brand Love Curve. Indifferent brands have skinny funnels throughout. Your plan for indifferent brands should fuel awareness and consideration to kick-start the funnel. For Like It brands, the brand funnels are solid at the top but quickly narrow at the purchase stage. These brands need tools to close potential leaks and trigger consumers at the purchase moment. Love It stage brands have a fairly robust funnel, but may have a smaller leak at loyal. The plan should continue to feed the love and turn repeat into a routine. The most beloved brands have robust brand funnels. These brands should continuously track their funnel and attack weakness before exploited by competitors.
How tightly connected is your consumer to your brand?
Consumer strategy has to work to tighten the bond with consumers and establish a core group of brand lovers. Where the brand sits on the Brand Love Curve can really impact the strategic focus for the brand. All brands start at the Unknown stage, before they are launched. Brands at the Indifferent stage act like commodity products without any connection to consumers, They have little awareness. Consumers see them as basic products and have no real opinion about these brands. Brands at the Like It stage have carved out a rational point of difference in the consumers mind to help generate solid aided awareness but they are yet to translate that product success into a consumer routine. Brands that reach the Love It stage are very successful brands with strong awareness, market share and repeat purchase. They have generated an emotional bond with a select target that has led to a growing base of brand fans. Finally, at the Beloved stage, the brand becomes iconic and highly regarded by consumers. Consumers become brand lovers, similar in feelings to what we see with fans of sports teams or celebrities. They are outspoken, possessive and will defend the brand at any point.
Use brand funnels to track and manage the health of your brand
To read more about how the love for a brand creates more power and profits:
Beloved Brands: We make brands stronger and brand leaders smarter.
We will unleash the full potential of your brand. We will lead a 360-degree assessment of your business, help you define your Brand Positioning, create a Big Idea that will transform your brand’s soul into a winning brand reputation and help you build a strategic Brand Plan everyone who works on the brand can follow.
We will make your team of Brand Leaders smarter so they produce exceptional work that drives stronger brand results. We offer brand training on strategic thinking, brand analytics, brand planning, brand positioning, creative briefs and marketing execution.To contact me, call me at 416 885 3911 or email me at firstname.lastname@example.org