Brand Equity Score

How It’s Measured and

How You Can Impact It.

What Is Brand Equity?

• A measure of a brand’s value to its customers expressed as a willingness to recommend the brand and to buy from the brand again.

How Is Brand Equity Measured?

• Two surveys are conducted – one monthly, another quarterly

• Monthly survey is sent by e-mail to any member who has opened a new loan or deposit account the previous month.

• Quarterly survey is sent by e-mail to randomly selected area residents to track awareness (only respondents who identify 1A as their primary financial institution are included in the score).

How Is Brand Equity Measured?

• Monthly survey – member is asked two key questions based on their recent experience.

• Quarterly survey – member is asked two key questions based on their overall experience.

How Is Brand Equity Measured?

• The answers to those questions are tabulated to provide a “score” which can be used to measure how well we are doing delivering a memorable, loyalty-building experience.

The Questions

On a scale of 0-10 (0=Not at all Likely, 10=Extremely Likely):

• Question 1: How likely would you be to recommend 1st Advantage?

• Question 2: How likely would you be to open your next account with 1st Advantage?

How We Get The Score

• The number of those who answered 9 & 10 minus those who answered 0 – 6 give a “net” score for each question.

• Those two scores are divided by 2 and added together to give us our “Brand Equity Score” – the higher the number the better.

Example

• Of 250 surveyed, on Question #1, 210 answered 9 or 10 and 15 answered 0-6: 210 – 15 = 195

• That is divided by 250 for the “net promoter” score: 195 / 250 = 78%

Example

• On Question #2, 200 answered 9 or 10 and 25 answered 0-6: 200 – 25 = 175

• That is divided by 250 for the “net loyalty” score: 175 / 250 = 70%

Example

• The two scores are divided by 2 and added together for the final Brand Equity Score:

(78 / 2) + (70 / 2) = 74%

How Can We Affect The Score?

• Any interaction we have with a member has the potential to add or subtract from the score.

• At the department/branch level just one or two members could have a big impact on the branch/dept quarterly brand equity score.

How Can We Affect The Score?

• Make sure every member we serve has a current e-mail address on file.

• Let them know they may receive a survey request from 1st Advantage by e-mail.

• Provide friendly, professional member service.

The Results

• Consistently Improving Scores

• 23% Increase in Brand Equity score from end of 1Q2008 to end of 1Q2009.

• Slight increase (5%) in 90-day Products per Household for new households.

Thank You!

• Contact info:Jim Craig

VP-Marketing

1st Advantage FCU

jcraig@1stadvantage.org

http://www.linkedin.com/jimncraig

http://www.twitter.com/jimncraig