The Business Challenge
Clearly defining what your brand means is more important than ever. While your company may have established a positioning in the past, it could be time to redefine what it stands for, because the path to growth depends on owning a favorable spot in the mind of your current and potential customers today.
In its simplest form, the success of a brand is a combination of fit – the alignment between your brand benefits and customers’ needs, and performance – customers’ belief in your brand’s ability to deliver on its promised benefits.
To truly assess your brand’s position, it requires looking at the whole picture, because preference is determined by how your brand is viewed relative to competition. A single measure evaluated in a vacuum won’t capture what customers really think and feel…and why your company matters.
MaxMindShare™ determines where to best position your brand by decoding how your customers make buying decisions in the context of your competition, as well as any other barriers that influence their actions.
How it’s Different
MaxMindShare™ is the only measure of brand strength on the market that leverages The Wallet Allocation Rule®.
By evaluating the relative rank of various brands compared to your own, you are able to understand the link to customers’ share of category spending, and to market share.
MaxMindShare™ considers all your perceived differentiators or “rational factors” to determine which ones you should focus on. Our solution then goes one step further and evaluates the “emotional factors” tied to the prioritized differentiators to give a more complete picture on how to communicate these benefits in a persuasive manner.
Our rigorous and sound solution can capture all of this information without taxing participants while enabling them to complete the study quickly on a mobile device.
Benefit of the Approach
Leveraging MaxMindShare™ you can identify:
- Attractors to your brand and to competing brands
- Emotional and rational drivers of buying behavior
- Market factors that impact customers’ ability to buy a preferred brand
- Customers at risk of moving their business to competitors
- How to increase spending with current customers
- Attitudinal equity of brands and pinpointing barriers in their mind