This article was originally published on Research News Live.
As we move through challenging economic times, marketers continue to seek better ways to quantify and analyse the effects of their brand-building efforts – often involving brand tracking programs. These programs come in all shapes and sizes, varying with respect to coverage, sophistication in the level of measurement systems employed, sampling and reporting frequency, as well as investment.
In our experience, while these factors play a role, they are not the ultimate drivers of a program's success. Instead, success is determined by the value a program delivers, and this piece aims to shed light on this value equation.
Every organisation seeks to derive value from its tracking program, but this need can of course be met at either the more budget-conscious or comprehensive ends of the spectrum. At issue, therefore, is what the organisation really needs when it comes to its tracker and the degree to which the organisation values interpretive and directional advice over and above data delivery.
A brand tracker ultimately delivers value by informing future-oriented decision making on topics such as where to focus efforts to expedite growth and defend market share. This requires the data elicited from the program to be converted into insights that inspire action. Without this, trackers are simply a rearview mirror, and what often distinguishes the comprehensive programs from the more lite or off-the-shelf tracking solutions is the degree to which the interpretation and actionable insight generation is left to the organisation.
Lite trackers that simply provide updates on key brand metrics can be a great entry-level model. They tend to have low reliance on people because they often don’t result in a translation of the ‘what’ to the ‘so what’ and ‘now what’. However, businesses that utilise these tracking programs because of their relatively modest needs can quite quickly evolve alongside their own success. When that evolution happens it’s important to assess whether the tracker or tracking partner is still delivering value or is instead creating too much interpretive legwork.
A more comprehensive tracking program should provide sage advice, backed by evidence. With more data to play with and investment in analysis and consulting time, insights agencies are able to weave a narrative of relevance with actionable recommendations that inspire action. Most great narratives emerge from data being viewed and analysed in the right context – internal, competitor, category, cultural, the lot. This results in effective triangulation of data sources to understand how underlying consumer needs and preferences are evolving, which is a key part to navigating brand direction. Critical to facilitating this is a great client and agency working relationship, with the latter being let into the business and taking responsibility for asking the right questions.
Like all great research and insights engagements, successful trackers – those that deliver value – start with the end in mind. This requires the people who design them to take the time to understand the organisational context within which they will operate, the role they ultimately need to play to be successful, and the rocks they need to move to achieve that success. In some cases, this may result in the development of a lite tracker; in others a more comprehensive solution; and sometimes, a tracker that morphs in shape and scale over time. Adaptability, client-centricity and being objective led are central to any successful investment.
James Jayesuria, Partner & Managing Director, Sydney, Nature
