LOVEQUOTIENT® UNLOCKS THE SECRET TO UNDERSTANDING THE HEART OF THE CONSUMER AND ITS CONTROL ON THE PURSE STRINGS
LoveQuotient is the first-of-its-kind tool that quantifies how much consumers love brands. Love as in the way Bostonians love the Red Sox or greenies love Tesla. Whether at the human or brand level, love is comprised of three primary components: Chemistry, Needs Fulfillment and Compatibility. LoveQuotient examines all three key components and utilizes Coherency's proprietary algorithm to measure, assess and predict the impact of consumer love for a brand. "We understand that love is a four-letter word in some companies, too soft and fuzzy," said Jeff Meleski, CEO of Coherency. "What we are talking about is the biochemical process of affinity in people, how we relate to what we enjoy."
The innovative methodology was developed by the firm's SVP of Marketing Sciences, Nelson Tao, in conjunction with Dr. Gian Gonzaga. The two applied their professional research experience from the online dating industry along with the proven principles of compatibility matching and relationship science to create this quantitative measure of consumer love for a brand which is a confirmed predictor of consumer behavior.
Previously, marketers were limited to examining rational drivers of consumer behavior when trying to quantify consumer affinity for a brand. LoveQuotient however, delivers large-scale, data driven insights around consumer emotions to help inform a host of commercial strategies, from brand positioning and communication architecture to product development. "LoveQuotient captures consumer responses on a broad level, empowering brands with the confidence that they are solving business challenges using data-backed insights," says Meleski.
From toothpaste to credit cards to television networks, category leaders Colgate, Citi and NBCUniversal Lifestyle Networks are just a few of the brands that have already turned to this breakthrough research tool to gain a better understanding of how their consumers are driven by emotion. For Citi, Coherency helped identify the core emotional attributes to drive love for its brand across different markets. "Like many global companies, the Citi brand meant different things to different audiences in different countries," said Donn Froshiesar, Director, Consumer Insights, Global Experience Team, Citi. "Coherency uses an innovative approach towards brand building based on human psychology and attraction. This approach enabled us to identify the core elements that drive brand affinity in our category, to engage consumers and our employees in the process, and to create a strategy and communication plan that leverages these insights to strengthen our global brand."
Coherency's key to collecting relevant emotional feedback from consumers on a widespread scale is its highly interactive survey tool. Unlike a standard five-point scale, LoveQuotient utilizes a series of visual exercises that yield nuanced responses that tap into a consumer's feelings. For example, participants might be asked to rate a brand by dragging its logo closer or further from a heart to indicate their emotional connection to that brand. "This method yields better quality responses and higher participation rates," notes Tao, co-creator of LoveQuotient. "If you ask a consumer to rate their emotions on a rational scale you'll get a rational answer."
The LoveQuotient methodology has been validated across industries through a multi-year study involving more than 250 brands and 6,000 respondents. The findings demonstrated a strong statistical model fit (R-square>0.70), confirming how brand love predicts consumer behavior.