What is a
It’s a concept to describes stages in customers’ relationship with brands. Whilst different people quote slightly different stages they typically include awareness, consideration, purchase and loyalty.
What are the aims of Brand Funnel research?
The brand funnel is a concept designed to help brands understand how to grow. It suggests that brands grow by ‘pouring in’ new customers at the top of the funnel and minimise leakage between each stage.
How is Brand Funnel research undertaken?
Brand funnel research is typically undertaken via usage and attitude studies – either amongst a nationally representative or target market sample. Towards the start of the survey respondents are asked about the brands they are aware of, consider, use and favour. After this they are asked about their views of key brands of interest. Putting these two bits of information together allows you to understand how many customers exist at each stage of the funnel as well as the actions a brand might take to move customers onto the next stage. When undertaking brand funnel research it is important to establish a set of benchmark brands you want to compare yourself to. It’s advisable to ensure that some of these are a similar size to yourself - especially in terms of physical footprint. In addition, it’s worth including a brand which you aspire to in terms of sales growth mix as this will allow you to know what ‘good looks like’ in terms of converting shoppers from one level of the funnel to the next.
What’s an example of a Brand Funnel in action?
Brand funnel questions are a permanent feature of every tracking study we run. They are often also included in ad hoc studies as it ensures a commercial focus to the findings. As it’s possible to ascribe £-values to people at each stage of the funnel, the concept can also be used to ground findings in terms of monetary opportunities.
Whilst not always the case, newer brands tend to struggle for awareness whereas established brands who are struggling to grow are weak in converting awareness into consideration.
What is a Brand Funnel?