New Brand Equity Measurement Set To Change Marketing Conversation
New on GrowthOS
We’re pleased to announce a new feature on the GrowthOS platform that will change the way marketers measure the impact of their brand investment. The Brand Equity feature allows marketers to measure how much brand awareness and consideration are directly contributing to sales volumes and marketing ROI.
The release of the feature represents a step change in the conversation about brand investment, says Mutinex CEO, Henry Innis. “For a long time marketers have been presenting brand awareness and consideration as important metrics, without being able to tie them to hard currency except with the help of the costly, static models provided by consultants. That stops now. By using the Brand Equity feature in GrowthOS, marketers can finally tell their c-suite what it means to the bottom line to pause their brand campaigns for any period of time or readjust their messaging temporarily away from awareness and into consideration for example. This feature really represents a breakthrough in how we’ll talk about the role of a brand in the marketing mix because it’s not one and done, it can be continuously updated with new data and adapts to the needs of changing businesses”.
In comparison to other brand measurement models, the Brand Equity feature in GrowthOS does not need to be built from the ground up to the bespoke requirements of each company, which makes it a game changer for marketers, who are able to add new data regularly to get a time varied picture of brand performance. This allows them to unlock developing insights and test new strategies – including testing the cost of being out of market.
The Brand Equity feature was developed in lock step with long-time GrowthOS customers, Asahi Beverages. Head of Consumer Data and Analytics, Megan Coutts-Quinn, says “We’ve been working with Mutinex on the development of this feature for some time now and we’re really pleased to see that work come to fruition. We’re already generating actionable insights around our portfolio of brands that will help us to make investment decisions in the year to come. Understanding our brand performance has always been important to us, and this development makes the data even more actionable, and helps us to reconcile different measurement frameworks to have true, ROI-driven conversations with senior stakeholders.”
Innis says the feature has had a great reception from the Mutinex customer base so far. “Customers have been really enthusiastic about getting on board and beginning to use this feature. It unlocks so many conversations and, by way of those conversations, strategic and tactical changes that could make a big difference to the amount of revenue generated by a company. Imagine if you could quantify what it means to let your brand atrophy by being out of market, for example, you might make changes to your whole plan to protect your brand”.
Measuring the impact of brand as part of the full marketing mix is more important than ever in what is bound to be a challenging year for marketers says Innis. We know from the investment data that we’re seeing through GrowthOS, that marketers can expect to see drops in marketing return on investment in 2023. Investment in brand is more important than ever, but many companies are tempted to reduce brand advertising in tough times. Our goal with a feature like Brand Equity is to help marketers think twice about that and to build the case that allows them to maximise ROI to the full extent.
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