Measuring the importance of brand attributes
Ziv and I wrote an article recently on "What Brand Attributes Make a Difference," covering how to use a survey to discover which brand attributes are most important to focus on. All of us talk a lot about key customer drivers (reliability, price, speed, blah blah) and brand perceptions (Company X is professional, innovative, blah blah) and we all know they're important, but seldom can we make the case for exactly why they're important and how to measure their impact. Lift models correlate these drivers and brand perceptions to other attributes that everyone agrees are important, such as share of wallet (how much of a customer's overall spending in this domain goes to us). At Molecular we run an analysis to show which drivers and brand attributes are most closely correlated to share of wallet, and thus where to prioritize brand efforts. The result is evidence about which brand attributes are most likely to lead to increased revenue when improvements are made.