BRAND BUILDING IS CORE TO THE GROWTH OF ANY START UP
In this case study for LUNYA, A LUXURY SLEEPWEAR START UP, we helped them to gather critical information about THEIR brand. COMPETITORS In their category, evaluate the true threats AND IDENTIFY AREAS OF FOCUS FOR THE NEXT PHASE OF GROWTH.
BEYOND THE INSIGHTS IT ALSO CHALLENGED ASSUMPTIONS & ALIGNED TEAMS ON THE VISION FOR THE BRAND
Where to start?
CUT YOUR LIST
You probably know your core competitors well. But you might have a long tail of other possible contenders to benchmark against.
Start with a quick brand awareness poll to cut down the list. It is a quick and inexpensive way to come armed with some basic facts that help you make informed decisions.
This is what we did for LUNYA, reducing a long brand list by around 50%!
WHAT DO YOU REALLY NEED TO KNOW?
BRAND - MARKET?
Knowing that X% of people are aware of your brand is useful to set a benchmark and set some initial growth targets. Knowing consumer perceptions of your brand, and why they buy the category helps put some strategy around reaching those targets.
Working with LUNYA, we balanced brand and market to gain an understanding of category buying behaviours and used this to help interpret brand perceptions and preferences.
This enabled them to create brand and marketing plans that would help them further differentiate from their competitors in a compelling way.
WHAT’s MISSING?
CUSTOMER VIEW
While you are driving growth, it is critical to understand what your target audience think of your brand, but don’t overlook understanding what your existing customers think!
As the final stage of the branding research project, LUNYA learned how their customers perceptions differed to that of the general market.
Since existing customers had a closer view of the brand and category, it helped shine a light on valuable perspectives that would have been missed at the market level.
It aligned views across teams on where the strengths of the brand and re-confirmed their focus.