By James Lawson
Panel and brand research firm Panelteam has launched a new Consumer Lifecycle Brand tracking service which enables clients to keep track of their brand performance online. Results are delivered through an instant-access online reporting tool. It has an intuitive and easy to understand user interface.
Consumer Lifecycle research is a methodology that measures the European performance of brands in the five main stages of the orientation and purchasing process of consumers. Using sophisticated online benchmarking techniques, Panelteam finds out what really matters when consumers buy, says the company.
An unusual element of the tool is the ‘Brand Love index’ which measures the level of emotional involvement consumers have with a brand. Because ‘Brand Lovers’ buy their favourite brands more often, they tend not to switch to competitors and they create new customers. An increase of the ‘Brand Love Index’ ultimately results in more revenue and an improvement in profitability, says Panelteam.
Peter-Paul Laumans, Managing Director of Panelteam, said: “I noticed the growing need for more up to date market information against a reasonable price. That is why we have developed a user-friendly web application for monitoring the performance of brands. Not only for having a real-time picture of your own brand’s, but also that of your main competitors.
“We have integrated the most important marketing and communications aspects like awareness, attributes, usage, buying criteria, loyalty and love into the Consumer Lifecycle methodology. Combining this with smarter and better online research techniques we developed a perfect solution for brand owners. Our integrated approach is the ideal replacement for existing and more expensive research methodologies, because the Consumer lifecycle tool gives you instant access to the most relevant information for running a successful brand”.