The Brand Conversion Pyramid is a visual representation of the levels of conversion a business has attained among its entire target group of potential customers / consumers. The pyramid steps up from awareness of a brand, to consideration through trial, repeat and loyalty (multiple repeat). Levels on the Pyramid:
- Awareness – have heard of and remembers the brand name.
- Consideration – have a need for the benefit of the brand and believe that the brand would be an acceptable choice among others.
- Trial – have made a purchase.
- Repeat – have made a second purchase (signaling they like the product).
- Loyalty – choose the brand over others on a consistent basis.
B2B businesses can use the pyramid in the same way by tracking percentages for these same levels. Market research and surveys to potential customers can provide a projectable sample. The result will pinpoint opportunities to improve product offering and selling approach. Sales professionals instinctively use “pyramid-thinking” for sales tracking – (e.g. lead generation, prospect development, qualification, proposal, sale, repeat order). Using the brand pyramid, however, provides a broader view of the buying decision and when compared to the competition, can be very revealing.
Looking at the two examples below, the pyramid on the left shows a sharp drop from consideration to trial, then high level of repeat and loyalty among those who try. This points to a potential barrier to purchase such as price or poor positioning. One marketing approach is to increase trial with sampling and introductory offers. The pyramid on the right points to a problem of low repeat, which may signal poor product performance or competitive entries stealing share. In this case, one marketing approach is to improve the product or offer incentives to make a repeat purchase.
Identifying Target Conversion Issues
While understanding the target consumer takes measurement, the brand pyramid pinpoints issues that can be missed. The brand or business can then maximize the impact of marketing and sales programs by focusing them on the right levels, making it easier to build products, programs and communications tools to sales results.
4 comments:
Supermarkets usually offer products at low prices by reducing their economic margins. To maintain a profit supermarkets attempt to make up for the lower margins by a higher overall volume of sale.
Field Merchandising Services
Based on what I am witnessing, the loyalty game is heating up.
It is very important for sales people to use this brand pyramid. It is really useful for increasing sales. Thanks for sharing this brand pyramid which is very useful for sales people.
I think you’ve made some truly interesting points. Not too many people would actually think about this the way you just did. I’m really impressed that there’s so much about this subject that’s been uncovered and you did it so well, with so much class. Good one you, man!
Marketing Research Firms
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