Brand Strategy Research for a Rental Truck Company
A top American rental truck company (with hundreds of locations throughout North America) was looking to separate itself from the competition and understand the drivers of brand consideration. Specifically, the B2B company was looking to see how to increase the number of customers and the frequency of rentals. In particular, the goal was to grab market share from the competition and increase and those using more than one rental company. Subsequently, Provoke Insights was commissioned to develop a two-phase market research plan.
Market Research Solution
1. In-depth Interviews Among Fleet Decision-Makers
The research evaluated the target audience’s attitudes and perceptions of the rental process. To clarify, these interviews also aimed to uncover which elements drove a rental company’s selection and the difference between prospects, current customers, lapsed customers, and dual rental company users.
2. Quantitative Research among Fleet Decision-Makers
The survey phase utilized the in-depth interview findings to develop a questionnaire that evaluated the truck rental process regarding expectations, awareness, consideration, satisfaction, and needs.
As a result, a max diff technique was used to understand which attributes are most influential to the buying process. In short, the Max Diff is an alternative to a standard rating scale that often leads you to believe every claim is essential. Especially, this questioning forces respondents to make choices between attributes, which results in a more robust data set.
For example, with 20 attributes selected, there is a possibility of 3.2 million combinations. The analysis predicts what the response will be for each possible combination. The research ultimately tells you the exact amount an attribute influences sales.
Results of the Research
Provoke Insights garnered insights to develop a brand strategy based on the research results. The plan guided the development of a full multi-channel advertising campaign. The rental truck company was able to create a campaign based off of learning the following information:
- The brand’s unique selling proposition;
- Identification of key drivers to increase the number of rentals;
- What traits/combo of traits lead to rentals, both compared to the competition and what’s relevant to consumers;
- Customization based off of the needs of the company requiring the fleet;
- Brand perception and consideration versus the competition.
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