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Tracking - the way forwards
Monitoring the market, your competitors and your consumers' behaviour and attitudes, is the only way to ensure continued success for your brand or service. Without a complete framework, or an understanding of the role of advertising, promotions and your brand's position in the marketplace, brand and advertising research is just a collection of meaningless numbers.
That's where MarketWhys can help. It provides you with the framework for what you should be measuring and how.
Traditional advertising tracking methods fail to recognise that not all advertising is aimed at increasing sales. Sometimes it's about protecting share rather than increasing it, so it's important to distinguish between acquisition and retention strategies. Also, advertising is only one element which influences purchase. Price, distribution, retail-push and promotions to name a few, need to be considered as well.
The importance of the brand relationship
MarketWhys overcomes these issues and offers a better way to monitor brand and advertising performance by providing a model which understands the brand relationship and how all marketing activity really impacts the brand. It also recognises the importance of the way people think and feel about the brand and how committed they are to it. By analysing commitment levels amongst your users and non-users, you can establish different strategies for the different segments you are targeting. And commitment has a proven impact on advertising because committed customers are more likely to see and like your advertising than uncommitted users.
How the creative idea affects performance
A truly successful advertisement should both involve the audience and be motivating by leaving the consumer feeling positively disposed to your brand. MarketWhys analsyes your campaign to measure your advertising wear-out. It measures how your advertising is performing at any moment in time with any group of people and identifies when it is time to refresh the creative idea.
The benefits of MarketWhys
- It identifies which consumers are responding to your ad, which are not and why
- It manages the various segments of your users and non-users, so you can develop the most effective marketing strategy to reach each segment
- It allows you to tailor your communications strategies to maximise the benefit of your brand and get the most out of your advertising spend, so you are reaching the right people with the right message
- It assesses 'wear out', so you will know when a particular advertisement or campaign needs altering and will not spend any wasted funds on media placement
- It uses the world's most advanced tracking research platform for delivery - Miriad™
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