Brand Health

A company’s brand health is ever-changing, but today’s social media environment has actually made it easier to track.

Forrester Analyst Christopher Stutzman suggests that CMOs must demand a new dashboard to augment classic brand metrics through the following four factors of digital influence:

Volume. Brand perceptions are typically measured using representative samples of consumers. But why settle for a mere sample when more than 81% of US adults use social media to create at least 500-billion influence impressions on products and services?

Velocity. Marketers usually perform brand-tracking studies once a year or quarterly. But that’s too infrequent to monitor the impact of real-time consumer opinion, as Kenneth Cole’s Twitter fiasco demonstrated — resulting in a 64% decline in brand equity scores in just three days.

Visibility. Consumers are now empowered to voice their unfiltered opinions about a brand to the general public. Already, 25% of search results for the world’s 20 largest brands are linked to user-generated content.

Volatility. Brand sentiment can be increasingly unpredictable in this digital age. Gap learned this the hard way with its new logo unveiling, which received such negative consumer response online that it returned to the old logo one week later.

Why Win/Loss

When we walk into a new client’s office, Win/Loss is always our first topic of conversation. Why? We think it’s critical for every company to understand why they are winning or losing business against their competition. And Win/Loss is one of those projects that really can’t be handled internally without an internal and external bias.

Companies spend an average of 30% of their total annual revenue on sales and marketing expenses. When measured as a percentage of revenue from new sales, the average increases to 41%. The data from Win/Loss helps companies spend that money more effectively.

Win/Loss data provides vital information for sales, marketing, and product development decisions. OpenSky investigates and evaluates wins and losses in an unbiased manner, focusing on the many factors that drive purchasing decisions, such as:
- Process (timing, sales coverage, relationships, marketing, knowledge)
- Product (scalability, breadth, ease of use, functionality, differentiation)
- Partnering Strategy (reputation, value, options)
- Price (product or bundle, multi-year, ROI, TCO)
- Viability (brand, market share, vision, financial stability)

With more than seven years of experience conducting Win/Loss Analyses, we’ve found that a combination of telephone interviews and email surveys works best. OpenSky Research deliverables include phone and email questionnaire design, fieldwork, project management, data tabulation and analysis, and a presentation of findings with actionable recommendations.

Through an analysis of direct feedback from wins and losses on a quarterly or semi-annual basis, your company will be able to:
- Increase revenues by turning learning into results.
- Decrease sales cycle times through an improved understanding of the buying process, decision-making criteria and likely issues and concerns.
- Improve product offerings through knowledge of purchasing criteria and customer requirements.
- Continuously increase marketing effectiveness through a better understanding of competitive positioning and key messages.