In an article published in the February 4, 2013 issue of Advertising Age, Bob Liodice, President and CEO of the Association of National Advertisers, identified five core areas he thinks will play a crucial role in advancing the business of marketing this year.
- Accountability and measurement
- Building the agency of the future
- Solve [sic] mobile
- Organizing marketing for growth
The Turnkey Insights department loves #1, Accountability and MEASUREMENT! In this area, Turnkey’s clients are ahead of the game, with many teams conducting brand studies. These studies are designed to help teams develop a well-rounded understanding of how fans perceive and connect with the brand over time by identifying the following:
– How fans developed an affinity for the team
– Perceived value of tickets
– Opinions of brand assets (fans, coaches, management, logos, mascots, slogans)
– Perceptions in comparison to the competition
– Feelings on the gameday experience
Measuring brand equity year after year allows a team to cultivate its brand thoughtfully and intelligently, and gives the team the tools needed to protect and elevate the brand even when the on-field product may be suboptimal.
Example #1: The perceptual map below comparing attributes of Team A to Teams B, C, and D indicates that Team A should look to differentiate itself from its competitors by focusing on “traditional”, “local”, and “authentic” themes in their marketing efforts. Also, knowing that Team A fans consider Team D to be more “reliable” and “successful” and Team B to be more “fresh” than Team A enables Team A to address those perceptions strategically.
Example #2: In 2012, Team A saw scores for the metric “team approach” drop 17 percentage points from 2011. What could possibly explain the drop? In this case, it’s likely because Team A’s marketing approach in 2011 focused on individual players, leading to a drop in fans’ perception of a team effort. Without measuring perceptions on a yearly basis, Team A would have had no idea as to the impact of those marketing slogans.
These are just a few examples of the myriad of helpful data that can result from a brand study done right, especially if that study is repeated over time. They clearly illustrate the value of measurement, and demonstrate how a proactive approach to brand assessment can help teams identify the impact of their marketing programs over time.
Read Bob Liodice’s full article, “Five Items Every Marketer Should Have on the Agenda”, here.