We have been working with Escalent for years on an annual brand awareness survey aimed at uncovering challenge areas and hidden opportunities. Their work is a key point of departure in the definition of our long-term brand strategy.
Luxury markets can be brutal. Consumer choices are broadening as heritage brands contend with luxury upstarts. A major luxury apparel company was desperate to improve its brand awareness among affluent buyers, expand market share, and increase customer lifetime value. Quickly. The company needed a refined strategy to reach the right audience, optimize advertising spend, and target the right publications and digital media channels. But it could do none of that without a clear understanding of its brand’s equity and how its existing communications strategies performed.
Escalent conducted a brand tracking study to evaluate the awareness and performance of the brand, as well as the effectiveness of the client’s ad campaigns. We conducted online interviews with 2,600 luxury brand buyers across six geographies – Italy, USA, UK, China, Japan, and Hong Kong. Given the time constraints, we designed a unique questionnaire that could be completed in a short amount of time. The data collected from the interviews were analyzed and synthesized in time for a board meeting deadline. The analysis offered insights into the key differences across markets and customers.
We delivered a detailed understanding of the brand’s performance in terms of awareness, ownership, consideration, and ad effectiveness. This included identifying the most relevant ad campaigns and media channels, leading to refinements in future creative development and media mix strategy that increased lift. The insights drove a significant shift in overall brand positioning and messaging. As a result, our client was able to quickly course-correct its ad strategy to align with the latent needs of today’s luxury buyers.