Managing and planning for the future with point-in-time snapshots of the brand.

Situation

Humana, one of the country’s largest healthcare insurance providers, was looking to better manage the implementation of their brand in an industry fraught with change and confusion. They also knew that by understanding the financial impact of their brand, they could optimize opportunities to grow and strengthen the brand, making it better able to withstand industry changes.

Solution

In order to gain a descriptive point-in-time snapshot of the current state of the Humana brand, CoreBrand conducted a CBR – CoreBrand Review. This report examined brand reputation (its Familiarity and Favorability ratings — Humana’s Brand Power) and Brand Equity data, within a competitive context (4 peers). The benchmark review showed Humana:

• Was second among peers in Brand Power, and on an upward trend, growing both Familiarity and Favorability over time
• Had the strongest Favorability against peers, but lagged in Familiarity
• Had the second largest brand contribution to equity, behind category leader Aetna

These findings indicated that those who knew the brand viewed it favorably, and that the brand was working harder than most peers to create value for the company. Recommendations were made for Humana to build its awareness and increase corporate exposure, and to leverage the brand’s growth and relative strength by creating differentiation among peers.

A subsequent tracking wave showed slight decreases in Brand Power, mainly due to drops in Familiarity. Equity percentage had also slipped, but the dollar value remained stable due to increased share price. Recommendations were made for Humana to better understand the drivers of Familiarity in the marketplace so as to not lose ground, and to help maintain its relative strength, against peers.