#USA #New York #marketing metrics #quantilope #Mental Availability

quantilope Unveils Innovative Mental Availability Norms

In an era when understanding consumer behavior is paramount, quantilope has taken a significant step forward with the launch of the world’s first Mental Availability Norms. This pioneering initiative enables brands to benchmark their marketing performance against competitors across various industries and regions, potentially revolutionizing how brands strategize their marketing processes.

Mental Availability refers to how readily a brand comes to mind when consumers are in a purchasing situation. The new Norms introduced by quantilope span four key regions: North America, Europe, Asia-Pacific (APAC), and Latin America (LATAM), and cover six vital industries, including Consumer Packaged Goods (CPG), Food & Beverages, Fashion, Durables, Retail, and Services. This comprehensive approach ensures that brands can glean insights tailored to their specific market dynamics.

The Mental Availability Norms consist of three primary metrics:
1. Mental Market Share – This indicates the percentage of Category Entry Point (CEPs) associations tied to a brand compared to its competitors.
2. Mental Penetration – This metric measures the percentage of category buyers who can associate a brand with at least one CEP, establishing its potential for growth among non-buyers.
3. Network Size – This reflects the average number of CEPs that a brand is linked to.

With nearly 8,000 data points sourced from thousands of brands in over 35 countries and grounded in the reputable methodology of the Ehrenberg-Bass Institute for Marketing Science, these Norms are set to provide marketers with a data-driven framework to evaluate their positioning in the market.

For instance, if a brand’s Mental Penetration falls within the bottom 40% of its category, it signals a challenge in reaching non-buyers. In response, marketers might need to adjust their campaigns, focusing on broader audience reach rather than frequent targeting, to strengthen their Mental Availability and foster growth.

Madita Brandhorst, Associate Director of Tracking Solutions at quantilope, emphasized the critical importance of these Norms: “We know from scientific, peer-reviewed research as well as our own experience that Mental Availability correlates strongly with business outcomes. These Norms provide essential context for marketers, helping them establish what constitutes success within their respective categories and how to set achievable targets for these metrics. By linking tracking metrics to marketing planning, brands can ultimately drive growth and success.”

To effectively harness the power of Mental Availability metrics, quantilope recommends a layered goal-setting methodology. First, they propose conducting a correlation analysis to understand the relationship between Mental Availability and business success, followed by applying quintile-based norms that account for the brand’s market size.

The application of these Norms reveals some intriguing insights:

• - Higher Competition in Mature Markets: In regions like North America and Europe, Mental Market Share quintiles are noticeably lower and more evenly distributed, highlighting a more robust competitive environment.
• - First-Mover Advantage in Emerging Markets: In contrast, brands in markets like APAC and LATAM see their Mental Market Share potentially tripling, thanks in part to lower category maturity and advantages for early entrants.
• - Growth Ceiling for Established Brands: Brands within the top 20% of Mental Availability often find their growth plateaued, necessitating a focus on expanding overall category consumption rather than just competing for existing customers.
• - Consistency Across Industries: Notably, the study showed that core Mental Availability metrics remained stable across different industries, challenging initial beliefs that marked industry-divergent behavior.

quantilope’s significance has only magnified since the release of the influential book “How Brands Grow” by Professor Byron Sharp of the Ehrenberg-Bass Institute, prompting increasing curiosity among brands regarding the power of Mental Availability. By adopting standardized methodologies, quantilope now offers comprehensive performance comparisons across markets and brand competitors.

Since the inception of their automated tracker for these metrics back in 2023, quantilope has witnessed a staggering tenfold increase in new tracker setups. This was soon followed by another doubling over the next two years, indicating a monumental shift away from opaque metrics toward clear, standardized indicators that correlate strongly with tangible business success.

A recent meta-analysis of over 100 brands conducted by quantilope corroborated the solid relationship between their survey-based Mental Availability metrics and brand sales, explaining about 69% of the variance in sales performance. This validates the assertion from the Ehrenberg-Bass Institute that Mental Market Share and Mental Penetration are closely linked to sales outcomes.

“Marketers from various sectors once questioned the applicability of this approach outside traditional CPG categories. Our Norms showcase that the significance of Mental Availability extends far beyond commonly purchased goods,” Brandhorst noted. “Now, clients from various industries, including Services, Durables, and even B2B sectors, are effectively utilizing this data to uncover crucial Category Entry Points for their growth.”

For more insights or inquiries, reach out to Johanna Azis at quantilope. As a company dedicated to empowering brands with actionable intelligence, quantilope continues its mission to facilitate growth across the global market with innovative automation and strategic solutions.