Tracy Stokes, Principal Analyst Roxana Strohmenger, Analyst Webinar Navigate Your Brand’s Course With The TRUE Brand Compass To Win Consumer Mindshare Tracy Stokes, Principal Analyst Roxana Strohmenger, Analyst July 29, 2013. Call in at 10:55 a.m. Eastern time #ForrTRUEBrand
What do John Cena and George Takei have in common? Image source: Business Wire (http://www.businesswire.com/) and (http://i.huffpost.com/gen/1155638/thumbs/o-GEORGE-TAKEI-STAR-TREK-facebook.jpg)
Consumers demand more from brands. Agenda Consumers demand more from brands. Introducing the TRUE brand compass framework Applying the TRUE brand compass framework #ForrTRUEBrand
Consumers demand more from brands. Agenda Consumers demand more from brands. Introducing the TRUE brand compass framework Applying the TRUE brand compass framework #ForrTRUEBrand
Marketers require new metrics that capture brand resonance. Image source: Samfélagsmiðlar (http://hrollvekjur.blog.is/) Marketers require new metrics that capture brand resonance.
There are three success metrics for securing brand resonance
Four dimensions significantly impact brand resonance Trusted Remarkable Unmistakable Essential
Trusted brands Create an emotional connection with consumers #ForrTRUEBrand
Trust has the highest correlation with brand performance metrics Brand resonance Brand preference Willingness to pay a premium price Brand recommendation Base: 4,575 US online adults (ages 18 to 88); Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013
Remarkable brands Capture consumer attention #ForrTRUEBrand
Being remarkable acts as a magnifier to other dimensions Brand resonance Brand preference Willingness to pay a premium price Brand recommendation Base: 4,575 US online adults (ages 18 to 88); Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013
Unmistakable brands Create unique consumer experiences #ForrTRUEBrand
Being unmistakable enhances brand resonance Brand preference Willingness to pay a premium price Brand recommendation Base: 4,575 US online adults (ages 18 to 88); Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013
Essential brands Are integrated into consumers’ lives #ForrTRUEBrand
Being essential drives preference and premium pricing Brand resonance Brand preference Willingness to pay a premium price Brand recommendation Base: 4,575 US online adults (ages 18 to 88): Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013
Consumers demand more from brands. Agenda Consumers demand more from brands. Introducing the TRUE brand compass framework Applying the TRUE brand compass framework #ForrTRUEBrand
Forrester’s TRUE brand compass guides your brand building journey Image source: NorCal Survival (http://www.norcalsurvival.com/)
TRUE brand compass #ForrTRUEBrand Source: July 8, 2013, “Navigate To A 21st Century Brand With The TRUE Brand Compass” Forrester report #ForrTRUEBrand
The TRUE brand compass ranking reveals a brand’s overall resonance Source: July 8, 2013, “Navigate To A 21st Century Brand With The TRUE Brand Compass” Forrester report
The higher the ranking, the stronger the brand performs on key metrics Source: July 8, 2013, “Navigate To A 21st Century Brand With The TRUE Brand Compass” Forrester report
TRUE brand compass scorecard shows progress along the TRUE dimensions Source: July 8, 2013, “Navigate To A 21st Century Brand With The TRUE Brand Compass” Forrester report
TRUE brand compass scorecard shows marketers where to focus their efforts Source: July 8, 2013, “Navigate To A 21st Century Brand With The TRUE Brand Compass” Forrester report
And the TRUE brand compass scorecard can show how your competitors are doing Source: July 8, 2013, “Navigate To A 21st Century Brand With The TRUE Brand Compass” Forrester report
Consumers demand more from brands. Agenda Consumers demand more from brands. Introducing the TRUE brand compass framework Applying the TRUE brand compass framework #ForrTRUEBrand
Food and beverage Image source: Falcon Lake Meat and Grocery (http://shopatthelake.ca/)
Consumer research proves that trust drives food and beverage brand resonance.
Trust drives food and beverage brand referral, preference, and resonance 0.82 0.80 0.72 0.84 Base: 4,575 US online adults (ages 18 to 88); Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013
Being essential drives food and beverage brand preference and pricing power 0.70 0.73 0.72 0.77 Base: 4,575 US online adults (ages 18 to 88); Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013
Familiar food brands have the highest TRUE brand ranking Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013 and July 15, 2013, “Food And Beverage Brands Must Be Trusted And Essential” Forrester report
Old-guard food brands are more trusted than upstart brands Base: 4,575 US online adults (18+); Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013
Gatorade is on track to become a TRUE brand leader. Image source: Dieline Media (http://www.thedieline.com/) Gatorade is on track to become a TRUE brand leader.
Gatorade “enables athletes to always perform at their peak” Image source: YouTube (http://www.youtube.com/) and Gatorade (http://www.gatorade.co.uk/)
Gatorade performs well on all dimensions of the TRUE brand compass scorecard Base: 4,575 US online adults (18+): Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013
Gatorade beats out Coke to win top honors with young men Base: men 18 to 29; Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013
Gatorade has strong brand performance on key brand drivers Provides a consistent experience every time I use the brand Has products/services that consistently deliver on their promises Has the highest-quality product/offering Has products/offerings that meet my needs Base: 4,575 US online adults (18+); Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013
Health and beauty Image source: www.asiantrader.biz (http://www.asiantrader.biz/)
Consumer research proves that trust drives health and beauty brand resonance.
Trust drives health and beauty brand referral, preference, and resonance 0.81 0.77 0.73 0.82 Base: 4,575 US online adults (ages 18 to 88); Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013
Being essential drives pricing power 0.68 0.72 0.71 0.75 Base: 4,575 US online adults (ages 18 to 88); Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013
Health and beauty leaders win the highest TRUE brand ranking Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013 and July 15, 2013, “Trust, Not Buzz, Builds Health And Beauty Brand Resonance” Forrester report
Old-guard health and beauty brands are more trusted than upstart brands Base: 4, 575 US online adults (ages 18 to 88); Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013
Dove is a leading brand. Image source: It’s Kat (http://itskat.wordpress.com/)
Dove’s “Campaign For Real Beauty” builds trust. Image source: The Huffington Post UK (http://www.huffingtonpost.co.uk/)
Dove has a strong trust score on the TRUE brand compass scorecard Base: 4,575 US online adults (18+); Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013
Dove has a strong brand performance on key drivers Provides a consistent experience every time I use the brand Has products/services that consistently deliver on their promises Has the highest-quality product/offering Has products/offerings that meet my needs Has good information online about the brand and its offerings Source: North American Technographics® TRUE Brand Compass Online Survey, Q1 2013
CPG brands must build trust, not buzz. Image source: DailyPix (http://dailypix.me/)
CPG brands must first build a foundation of trust to build a TRUE brand Source: July 15, 2013, “Trust, Not Buzz, Builds Health And Beauty Brand Resonance” Forrester report #ForrTRUEBrand
Recommendations Prioritize the dimensions on which you need to focus your efforts. Align your brand MAP to bolster weak dimensions. Monitor progress, but be patient. #ForrTRUEBrand
How Forrester can help Assess your brand and your competitors’ brands. How do you and your competitors stack up in brand resonance and TRUE brand ranking? Determine which levers your brand needs to pull to strengthen your TRUE dimensions and your overall brand resonance. Create a road map to develop your brand’s North Star and how it comes to life in your messages, actions/experiences, and products (MAP). Assess your organization’s brand building maturity. #ForrTRUEBrand
2013 planned brand compass surveys Q2 Retail Financial services Q3 Media Consumer electronics Q4 Healthcare Insurance
? Questions
Tracy Stokes +1 617.613.6193 tstokes@forrester.com Twitter: @tstokes_Forr Roxana Strohmenger +1 617.613.6511 rstrohmenger@forrester.com Twitter: @rstrohmenger #ForrTRUEBrand