These consumers can drive brand value as well as performance.
A brand’s value and performance typically relies on different data sets. Where value is linked with equity metrics and attitudinal data, performance is measured by more trackable behaviours. Then, measuring value becomes a difficult task. The author recommends adopting a consumer point of view.
This involves identifying the most valuable consumers within the overall audience segment. This group of consumers would be best positioned to drive performance and build value. They can be prioritised based on their level of contribution towards the company’s short-term and long-term goals.
Having a single view of these consumers will require using attitudinal as well as behavioural data. Companies could do well to include consumers that aren’t likely to contribute to growth in the short-term but could do so in the future.
[4 minute read]