Do you know what makes your brand sell?

Brand tracking can provide comprehensive and descriptive information about your brand over time, but they don’t say anything about what makes the market’s perceptions of your brand change. Many struggle with the challenge of understanding what drives value in the market and what should be invested in to optimize brand work. However, very few do anything to find out.

Having an offer without knowing what it is that makes the offer work in the market is not a cost-effective way of working. Especially when it is so relatively easy to investigate this – you just have to know how.

Based on advanced statistical models

Driving force analysis is a powerful approach that gives us knowledge about why consumers do what they do. People do not always do as they say and to find out the whole truth, we also need to look at hidden patterns and the implicit influence on behaviour, which is done with the help of a statistical analysis.

Novus’ driving force analysis is based on advanced statistical models and shows which factors have the greatest impact on your brand, be it the brand’s ability to sell more (volume premium), or the brand’s ability to charge more (price premium), or what builds the positive attitude to the brand. It simply answers the question of which “buttons” to push to achieve the greatest and safest brand development in the identified area.

The analysis demonstrates the relationships that are due to causality and not merely to chance or connection but causality (causation). In other words – should you invest in one or more areas, you want to ensure that the investments actually also lead to the set goal for the brand.

You cannot create, you can only influence

If you haven’t read any of our previous articles, it’s important to note that you can’t create your brand, you can only influence it.

A brand is how a product, a company or an individual is perceived by those who experience it. The market, your customers and others outside your organization are the ones who actually determine what your brand is.

With that in mind, brand drivers help direct your brand to what you want your brand to be. They have a big impact on the business and answer why things are going well right now, but also what should be developed and invested in to increase the development effect even more. It can also show early warning signs of lower results or performance.

“What is driving our success today? and “What does it take to grow stronger than our competitors?”

These two questions are a classic starting point for our driving force analyses. We save our clients marketing money by showing the shortest investment path to secure brand impact.

Feel free to get in touch if you want to share ideas about your brand!

Ieva Englund
Customer Development Advisor
ieva.englund@novus.se

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