Brand Consideration

Brand Consideration KPI measures what share of an audience would consider buying/using your brand vs competitors in your industry in the purchase decision process. Insight into this KPI is mostly relevant for your target audience, seeing as it is so strongly tied to purchase decision behaviour.

• It is less relevant when looked at with a general population vision as consideration will then be skewed by those who are not even considering your wider category.

As this KPI is lower in the brand stage funnel, we do not recommend brands who are earlier in their brand growth to track this KPI: this will only provide noisy and irrelevant data to your brand performance understanding.

Brands who have first established higher levels of Brand awareness and Brand Understanding will inevitably gain more relevant insights from this KPI. Generally we advise that brands gain an awareness level of 35%+ amongst their target audience before beginning to measure and track their Brand Consideration levels. This will also help to achieve more reliable results with lower margins of error.

Brand consideration can also give hint about the experience of the consumer with your brand so far and their likelihood of purchasing next time.

How do we ask it?

Brand consideration KPI question is asked alongside competitor names and logos in a multi-select list format. There are 2 question variations that Latana uses for collecting data:

1. "Which of these {industry} brands would you use?"

2. "Which of these {industry} brands would you buy?"

The list of options is limited to 6 brands in total and additional options "None of these" and "I don't know" that un-check other option selection on the current questions screen.

• The limit of 6 brands is set based on tests performed by Latana research team that identified that this is the optimal number of brands that allows for enough focus on respondents' side.

• Keep in mind, that every different combination of brands in the list is perceived differently by respondents. If the list has all brands with very similar brand logos and names, it can be slightly more difficult to parse and differentiate the visual information and can end up in slightly lower KPI values

The list of brands available in options is defined by the customer based on their main competitors.

What do you see in the app?

Brand consideration is delivered as brand-specific KPI where the range of predictions varies from 0 to 100% for every brand. The highest percentage displayed among the five indicates the top ranking among selected competitors.

Latana's recommendations

There are two KPIs that can provide the most valuable insight addition to this KPI:

Driver associations, when assessed alongside Brand consideration, can provide a crucial narrative of your opportunities and gaps towards being considered at the purchase decision moment for your target audience. If you are missing the mark with your audience on key priorities that sway decision motivations, and furthermore are winning/losing out against competitors here, it can strongly explain why consideration is either high or low.

Brand preference, when assessed alongside Brand consideration, can provide a crucial narrative of the loyalty strength amongst your target audience. These two KPIs highly complement each other, in that they provide understanding of your purchase or usage strength.

• To note, industries vary in the combination of these KPIs due to differing purchase decision motives. Therefore it is complementary to understand the competition level within the industry alongside the consideration and preference of a brand. Especially for those industries that do not foster multi-brand usage (banking, for example)