In New York, brand research consultancy Brand Keys is launching what it claims will be the world's largest and most continuous database of predictive brand loyalty metrics.
Founded in 1984 by former ad agency exec Robert Passikoff (pictured), Brand Keys uses an independently-validated methodology - including the ARF's 'First Opinion Review' - which combines emotional and rational aspects of categories; identifies four category-specific path-to-purchase behavioral loyalty drivers; and pinpoints the expectations consumers hold for each driver, the values that form the components of each driver, and their percent-contribution to engagement, loyalty and profitability. In 1997, the firm launched its first Customer Loyalty and Engagement Index, providing a detailed picture of the category drivers that engage customers, engender loyalty and drive profits.
The firm's new database will comprise 4.3 million customer assessments, including loyalty and engagement analytics for 1,624 brands in 142 categories. According to Brand Keys, these brand assessments correlate highly (0.80+) with positive, in-market consumer behavior.
Passikoff comments: 'After 25 years conducting the Customer Loyalty and Engagement Index, it seemed an apt time to allow brands access to where brand loyalty has come from and, more importantly, where it's going. Loyalty - how to earn it, grow it, and keep it - will be one of the most important performance indicators that brands measure in the next decade'.
The company, which also has offices in has offices in Dublin, Dubai, London, Madrid, Sydney, and Tokyo, is online at www.brandkeys.com .
All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.