01 Sep Tri-Forces of Digital Brand Predisposition™
Millward Brown’s model adapted & integrated to Social Channels
Brand equity is ultimately a brand’s value which is determined by consumer perception of and experiences with the brand. Good brand equity means companies can charge more for the product, equity can be transferred to line extensions and the company’s stocks can increase.
Millward Brown’s model speaks about 3 elements of brand equity being:
The brand is attractive to the consumer and meets their needs and wants. Word of mouth increases as consumers are more likely to tell others about the brand.
The brand stands out in comparison to competitors, usually due to an emotional connection between the brand and consumer and the values of the brand.
When a consumer is searching for a certain category of product the brand quickly comes to mind and is remembered.
Millward Brown’s Brand Power Score Matrix can’t be directly measured using Social measurements or statistics. However, our research has discovered that by adding social measurement to brand value scores, we’ve managed to create our own digital brand equity model to measure the effect of Social Marketing to Brand Predisposition.
TNNG Tri-Forces of Digital Brand Predisposition™ model incorporates the following 3 elements:
This segment lies between difference and meaningful, and can be measured as it shows consumers, not only been reached a brand but that they actively have shown an interest in the brand
Similarly to engage we can also measure brand equity via the reach. This lies between difference and saliency and emphasises that the more times a brand reaches a consumer the more the consumer engages, and can recall that brand.
Lastly, used to measure meaningfulness and saliency we refer to fans and following. Ultimately the greater the following of the brand, those consumers will recall and have an affinity to that brand.
We recommend that when a company tries to measure digital brand equity, the better way would be through our enhanced Social Brand Equity Model, together with Millward Brown’s Brand Equity Model. The results are easier to recognise and collect for measurement of social performance and translate beautifully to Brand Predisposition.