Wider CEP networks win the switch as well as prevent it
PrincipleBrand Strategy
Wider CEP networks win the switch as well as prevent it
CEPs are not only a retention lever. The number of CEPs a buyer links to a brand also increases the likelihood that brand is the one selected when a company does switch supplier, replicating earlier findings in B2C telecommunications and B2B banking.
Source
Category Entry Points In A B2B World - Linking Buying Situations To Brand Sales, The B2B Institute at LinkedIn x Ehrenberg-Bass Institute (2022)
Professor Jenni Romaniuk, Ehrenberg-Bass Institute for Marketing Science, University of South Australia
p13, citing Romaniuk and Sharp 2000, 2003; Romaniuk 2001
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PrincipleMemory-generated brands are the starting point of the buying process, not searchPrincipleCategory Entry Points - the retrieval cues that decide which brands come to mindStatBigger brands are linked to more buying situations by more buyersStatThe fewer buying situations a customer links to your brand, the more likely they are to leaveStatEach extra buying situation linked to your brand lowers defection riskPrincipleOne CEP per execution, many CEPs across the campaign portfolioPrincipleThe seven W's - a prompt set for generating a category's buying situationsPrincipleIn B2B every buying situation has a business motive and a personal onePrincipleBuying committees make 'with and for whom' the highest-leverage B2B cuePrincipleThe 3C's - Credibility, Competitiveness, CommonalityPrinciplePrioritise buying situations by elimination, not by selectionPrincipleExpected score = (column total x row total) / grand total