CLIENT’S CHALLENGE
Every brand wants to increase its turnover and grow its brand. But how do you find the KPI to focus on? Which KPI stimulates sales the most? One of our clients in the telecom industry struggled with the choice of the best strategy. They want to find out which KPI is the most important to focus on, which KPI has the strongest link to sales and what the best way is to influence this KPI.
THE APPROACH
The client used traditional Brand Health Tracking but lacked a direct link to sales. Because DVJ Insights is the first company to really integrate sales data with Brand Health Tracking, the choice for DVJ was quickly made to map out these relationships.
To get the right answers, it is important to use the right data sources and integrate them into one umbrella model. In addition, it was important to synchronise all data sources weekly, as this enabled us to expose the relationships between the data sources based on statistical time series analyses. That is why the Brand Health Tracking is set up weekly with small sample sizes. In combination with tracking data, we have used internal client data that represents the weekly sales.
We then analysed through correlation and regression analyses on different time series to what extent certain KPIs have an impact on sales. It became clear that an increase in consideration has a positive impact on sales for this client.
Compared to the competitors, the brand itself already had the strongest brand funnel. Within this funnel (knowledge, attitude, consideration and preference), there was room for improvement between attitude and consideration. However, determining the most important driver does not immediately lead to a concrete strategy. That is why we went one step further in the analyses.
THE RESULTS
Through various driver analyses we were able to find the three most important aspects that are responsible for increasing the brand’s consideration. With this, the client found valuable information about the best way to increase sales.
- Clear and transparent pricing: however, these are drivers for the entire category.
- Bring entertainment close to people: the brand is the strongest brand within the category and can position itself stronger and more aspirational in this aspect.
- Find an advantage for the customer experience: the brand is seen as an expensive brand, but also as a brand with good quality and good, customer-friendly service.
CLIENT’S BENEFIT
It has been demonstrated that it is very important to really integrate different data sources. Brand Health Tracking in itself will never be able to provide such insights and make a direct link with sales. Based on this study, the client was given the right tools to optimise the strategy and improve the strength of the brand and the growth potential.