The Leading Brands of Spain Association (AMRE) assisted in the organisation of the first “Brand Customer Loyalty Engagement Index”, which was presented in Madrid on 3 November. This index was designed by Dr Robert Passikoff (President of the US consultancy firm Brand Keys) and is published every year in the US. The index deeply analyses the positioning of each brand, looks at customer purchase motivations within each product category and compares the different brands within those categories. The ultimate goal is to increase empathy with existing customers and to attract new ones, thus improving the competitive capacity of brands.
During the event, held in the Club Financiero de Génova, the results were presented of the first study on the leading Spanish brands in ten categories: airlines, banks, fashion chains, supermarkets, service stations, mobile telephony, city hotels, mineral water, television channels and football teams. Representatives from Accenture, the Leading Brands of Spain Association, Positioning Systems (Brand Keys’ representative in Spain), Demométrica (in charge of the surveys) and Dr Passikov himself took part in the presentation.
The presentation went into the specific characteristics of the index, which evaluates the correlation between the brand equity, customer loyalty engagement and their impact on business profitability. The methodology used applies industrial psychology and goes deep into the emotional and rational factors that form strong links between the customer and the brand, also studying the impact of specific communication actions on customer behaviour.
One of the main benefits of this index is that it identifies clear factors to be controlled when a brand loses value, and areas to be improved. This method, a novelty in Spain, is already very successfully used by many Fortune 500 companies – in both the B2C and B2B sectors – in over 26 countries. This measurement system is essential for interpreting and understanding the values, expectations and purchase decision process of customers in relation to a brand of a product or company.
