Building a Relevant Brand - Prophet's Brand Relevance Index
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![Prophet Brand Relevance Index 2016 26Proprietary and confidential. Do not distribute.
KEY
FINDING
Prophet built a custom index for this client, which
highlighted opportunities to drive relevance and growth
Capture and own the
unclaimed Distinctively
Inspired space by
completely reimagining
the in-store experience
Customer
Obsessed
Distinctively
Inspired
Pervasively
Innovative
Ruthlessly
Pragmatic
ILLUSTRATIVE
BRAND RELEVANCE CHARACTERISTICSOVERALL BRAND
RELEVANCE RANKING
1 Target
2 Urban Decay
3 M.A.C.
4 NYX
5 Sephora
6 [BRAND]
No brand currently owns
Distinctively Inspired,
which suggested a unique
opportunity for this client
to create a space for itself
BUSINESS
OPPORTUNITY](https://image.slidesharecdn.com/final-presentation-bri-webinar-161212201024/75/building-a-relevant-brand-prophets-brand-relevance-index-26-2048.jpg?cb=1668148932)
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Building a Relevant Brand - Prophet's Brand Relevance Index
- 2. Speakers Jesse Purewal Associate Partner Prophet @jsp311 Christine Brandt Jones Insights Partner Prophet @cbrandtjones
- 4. We believe there’s a way to grow better 4
- 5. Brand & Experience Digital Transformation Growth Acceleration We help our clients in three ways 5
- 6. We are leading thinkers in a digital, social, and mobile world Brand Relevance IndexPublications Digital Transformation
- 7. Prophet Brand Relevance Index 2016 7Proprietary and confidential. Do not distribute. We measure our success by the impact our clients have in the world
- 9. We believe that great brands are Relentlessly Relevant #ProphetBRI Relentlessly Relevant brands consistently inspire us and move us to action. They make smart, bold moves that amaze customers, push competitors out of consideration, and – at times – define entirely new categories and markets. And they do it while remaining unwaveringly authentic to who they are.
- 10. Prophet Brand Relevance Index 2016 10Proprietary and confidential. Do not distribute. Relentlessly Relevant brands Grow Better MORE PROFITABLE GROWTH Relevance helps drive top-line growth… R COEFFICIENT = 0.5* PROPHET BRAND RELEVANCE INDEX SCORE 10-YEARREVENUECAGR …and long-term profitable growth 6% 12% REVENUES PROFITS TOP 50 BRANDS OF 2015: 10-YEAR GROWTH ABOVE S&P 500 AVERAGE TOP 50 BRANDS OF 2015: 10-YEAR GROWTH VS. RELEVANCE SCORE Source: Prophet Analysis
- 11. Four Dimensions of Relentless Relevance Distinctively Inspired Pervasively Innovative Customer Obsessed Ruthlessly Pragmatic In touch with how consumers live and work, their needs and desires Motivates, has a clear purpose, is trustworthy and authentic Pushes the status quo, commercializes novel solutions, engages in creative ways of working Makes experiences simple and easy, is dependable, available, practical and consistent
- 12. Poll question At your company, when it comes to driving relevance, on which of the four key dimensions do you most need to focus in 2017? #ProphetBRI CUSTOMER OBSESSED RUTHLESSLY PRAGMATIC DISTINCTIVELY INSPIRED PERVASIVELY INNOVATIVE
- 13. Prophet Brand Relevance Index 2016 13Proprietary and confidential. Do not distribute. We are proud to announce Prophet’s 2016- 17 Brand Relevance Index
- 14. Why the Index? Why Relentless Relevance?Q
- 15. We decided it was time to introduce an index based exclusively on customer insight – one that could help business leaders and brand builders improve the relevance of their brands. A
- 16. Prophet Brand Relevance Index 2016 16Proprietary and confidential. Do not distribute. Brand Relevance Index Structure Consumer brands in ~25 categories that make up household spend Included on the basis of business performance (current revenue and 3-year revenue growth) Each region constructed lists 50% global, 50% regional/local 825 unique brands 175 global :: 650 regional 45,000 consumers US 15,000 UK 10,000 Germany 10,000 China 10,000 Sample representative of general populations in each country (Tier 1 and 2 cities in China) Respondents are engaged in the category and familiar with any brands they have rated Respondents rated brands on 16 attributes that define brand relevance, on a 1-7 scale To calculate scores, (T2B% - B2B%) was calculated for each of the 16 attributes 16 numbers then averaged to determine the score Respondents rate 5 brands in total (least-fill methodology) SAMPLE BRAND SELECTION MEASURING RELEVANCE
- 18. Prophet Brand Relevance Index 2016 18Proprietary and confidential. Do not distribute.
- 19. Prophet Brand Relevance Index 2016 19Proprietary and confidential. Do not distribute. Various paths to relevance
- 20. Prophet Brand Relevance Index 2016 20Proprietary and confidential. Do not distribute. Surprises come in two forms
- 21. #ProphetBRI 15 23 29 44 Poll question Which brand’s position on the Brand Relevance Index surprises you the most? ? A different brand?
- 23. Prophet Brand Relevance Index 2016 23Proprietary and confidential. Do not distribute. The Brand Relevance Index is a starting point to continuously improve our clients’ brand relevance We work with our clients in three ways to monitor and improve the relevance of their brands: Develop a custom index to identify and ideate against growth opportunities Integrate brand relevance measures into a dynamic brand metrics system Measure the moments across the customer experience where they have the greatest opportunities to drive brand relevance 1 2 3
- 24. Prophet Brand Relevance Index 2016 24Proprietary and confidential. Do not distribute. Using a customized index, our Insights team helps clients better visualize their drivers of relevance in a variety of ways Analysis of overall performance versus key competitors Understand a brand’s position on specific attributes Breakdown of drivers of relevance overall and in the category Map views to show geographic influences on relevance
- 25. Prophet Brand Relevance Index 2016 25Proprietary and confidential. Do not distribute. Driving brand relevance for a leading cosmetics retailer
- 26. Prophet Brand Relevance Index 2016 26Proprietary and confidential. Do not distribute. KEY FINDING Prophet built a custom index for this client, which highlighted opportunities to drive relevance and growth Capture and own the unclaimed Distinctively Inspired space by completely reimagining the in-store experience Customer Obsessed Distinctively Inspired Pervasively Innovative Ruthlessly Pragmatic ILLUSTRATIVE BRAND RELEVANCE CHARACTERISTICSOVERALL BRAND RELEVANCE RANKING 1 Target 2 Urban Decay 3 M.A.C. 4 NYX 5 Sephora 6 [BRAND] No brand currently owns Distinctively Inspired, which suggested a unique opportunity for this client to create a space for itself BUSINESS OPPORTUNITY
- 27. Prophet Brand Relevance Index 2016 27Proprietary and confidential. Do not distribute. This new focus on capturing and owning the Distinctively Inspired space jump-started their vision for the Store of the Future by guiding how they wanted consumers to experience the brand
- 28. Prophet Brand Relevance Index 2016 28Proprietary and confidential. Do not distribute.
- 29. Jesse Purewal Associate Partner (415) 774-6565 @jsp311 jpurewal@prophet.com Christine Brandt Jones Insights Partner (646) 724-8618 @cbrandtjones cbrandtjones@prophet.com www.prophet.com Thank you for attending.
Notas do Editor
- Onto the main event! The speakers for today’s webinar are Scott Davis and Jesse Purewal. Scott Davis is Prophet’s Chief Growth Officer, and has over 25 years of brand, marketing strategy, and new product development experience having worked with clients as diverse as GE and State Farm to Hershey’s and the NBA. He has published three books on better leveraging brands as assets, is an active contributor to Forbes, is frequently cited in top media publications, and has presented the keynote globally at many of the top branding and leadership conferences. Jesse Purewal is an Associate Partner in Prophet’s San Francisco office. His focus is on leading Prophet’s multidisciplinary teams to develop business strategies, brand strategies, and customer experiences to drive growth. He works across B2B and B2C, technology, retail, and nonprofit sectors with recent engagements at T-Mobile, Oakley, Gap, Inc., The North Face, BMC Software, and Cisco. Welcome Jesse + Scott!
- A summary of our POV on this
- …but we are in the business of driving GROWTH, of helping companies GROW BETTER – so it’s important that we demonstrate that Relevance is a key ingredient / component part of growth. As those of you close to GA will be well aware, we took a look at our first-year’s index, and looked at the relationship between companies’ performance on our relevance index and their 10-year growth. With the r-sq of 0.5 we are suggesting that growth is explained in no small part by a brand’s ability to succeed on the drivers of relevance that we’ve identified thru our 4 dimensions, our 16 attributes. We also found that companies in the top 50 relevant brands outpace the total S&P index by 6% on revenues and 12% on earnings, so we have an opportunity to really link this to growth vs. just talking about brand behaviors. We’ll continue to refine this look over time…
- Our clients often ask for our perspective on the value of the existing brand rankings. And we’ve always said the same thing: They provide solid objective benchmarks, but often leave marketers wondering what they can learn and apply from the “top” brands.
- “Active” has different definition by category. Time basis. Remember that we built this from the region up. We didn’t say, let’s do the 100 Global Brands, and fill in the rest regionally. We built this to drive relevance at the country level for Prophet, first and foremost, and we let the in-country teams partner with country leadership to say, what’s the right mix of Global/Regional/Local brands to include. Generally it’s about 50%, global brands by market and then the balance is regional/global Talk to evolution of T2B to T2B-B2B