The Designer Pages Brand IndexThe availability of data provides a shift away from anecdotal conclusions towards data-driven metrics, and at DesignerPages.com, we've recently developed the DP Brand Index, the first metric that steers clear of what designers say and focuses on the reality of what designers do. “Our data is taken from designer activity, not in the abstract, but as it relates to actual work,” says Chris Taylor, President of Designer Pages.
The Designer Pages Brand Index
The DP Brand Index identifies the top contract interior brands with respect to two factors: popularity and intent. Popularity considers the activity a brand is receiving and intent weighs the efficiency in which brands move designers from a neutral state to a state of action. We combine the popularity and conversion values to equal a numerical value that we call the DP Brand Index.
Calculating the Index
Two key figures are averaged to create the DP Brand Index, a score for brand Popularity and a score for brand Intent. Both of which are calculated by looking at all the user activity on DesignerPages.com, a virtual picture of the relationship between designers and brands painted in strokes by each designer's interaction with every product on the site.
A brand's Popularity score looks at all the interactions that happen between designers and each product that the brand has listed on DesignerPages.com. Some examples of relevant interactions include products returning in search results, products being viewed, images downloaded and products saved to a users favorites, collection and/or project folders. We've accounted for the importance of each interaction by assigning appropriate relevancy scores. A product showing up in a search result, for example, would be considerably less relevant than a product saved into a project folder. These scores across all of a brand’s products are tallied to determine brand popularity.
A brand's Intent score takes the same online interactions, but instead of coming up with a sum, a ratio is calculated between "neutral" behaviors (products in search results and product views) and "intent" behaviors (downloading products’ cut sheets and contacting vendors). The same consideration of interaction relevancy is taken in this calculation.
The average of these two numbers is what makes the DP Brand Index. To account for anomalies (cyclical online events such as promotion and unexplained bumps in traffic), brands that are not in the top 90 percentile in both Popularity and Intent are eliminated.
An Index for the Industry
Design brands are hungry for these insights, and how they relate to the bottom line. Ryan W. Menke, Sr. Vice President - Sales and Marketing at OFS Brands says, "There's no doubt that Big Data will serve as the next most transformative force in our industry, as it has similarly operated in nearly all other professional markets. As an industry, our challenge will be to refine data into knowledge.
“The DP Brand Index is a very practical example of knowledge, using a large sample size and wide array of touch-points to give us true insight into the preferences of the design community. It demonstrates that brand awareness and brand saliency are not the same thing. As makers, we should all aspire more for deeper brand saliency."
The DP Brand Index is the first metric that measures all brands in the contract interiors space relative to one another. As DesignerPages.com evolves, the DP Index will as well, building upon a foundation of data-driven metrics to create a clearer picture of our industry, both by brand and as a whole. Brands will now be able to examine how they rank versus direct competitors, but also gain insight into how they compare to others in the contract interiors space.
For more information about the DP Brand Index, please contact firstname.lastname@example.org.
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