Competitive Advantage has developed a Brand Strength Analysis process which uses the Net Promoter Score (NPS) concept to measure specifiers’ loyalty to leading construction brands. By repeating regularly brand strength analysis our construction clients can track their performance, comparing it against communication initiatives, to gauge changes in attitude to their construction brand.
What is the Net Promoter Score?
The Net Promoter Score (NPS) is a loyalty metric developed by Fred Reichheld. In his book ‘The Ultimate Question’, NPS is presented as the most important metric for business. Developed for consumer marketing, the Net Promoter Score tracks how customers represent a company to their friends and associates. It is now widely used in customer satisfaction and perception studies.
How does Brand Strength Analysis work?
We first ask the specifier how likely they are to specify a brand for a construction project. We have found that certain products are more likely to be specified by brand that others where a performance or generic specification is used.
We then ask the specifier to say how likely they would be to specifiy a series of product brands, including our clients, for a category of product.
Benefits of analysing your construction product’s brand strength:
In an industry where companies merge or have a portfolio of brands it is particularly useful to track the impact of new identities. Conducting regular brand strength analysis allows you to:
- Measure return on investment for specification selling
- Measure the strength of your brand, which can be tracked over time
- Get an indication of brand strength for different construction sectors
- To benchmark your brand against other leading, but non-competing, brands
For more information or to participate in the next Net Promoter Score email firstname.lastname@example.org
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