Brand Valuation for Chemical Company
- Branding
- $50,000 to $199,999
- May 2013 - Ongoing
- Quality
- 5.0
- Schedule
- 5.0
- Cost
- 5.0
- Willing to Refer
- 5.0
"The quality is on par and best in class compared to all the agencies that I've worked with."
- Other industries
- Kingsport, Tennessee
- 10,001+ Employees
- Phone Interview
- Verified
Looking for ways to quantify and qualify their brand valuation to investors, the client used Tenet Partners to understand their brand equity in relation to their total company value.
Since working with Tenet Partners, the client has had an invaluable experience learning about the credibility of growing their brand and raising that awareness internally. Tenet Partners has a longevity in the brand valuation space that truly sets them apart.
A Clutch analyst personally interviewed this client over the phone. Below is an edited transcript.
BACKGROUND
Introduce your business and what you do there.
I am the director of global marketing communications and downstream engagement for Eastman. I've been with the company for 10 years, overseeing the leadership of a 50-person team globally for the company. We serve as the inside agency for Eastman, responsible for brand stewardship and brand integration from our large-scale acquisitions.
OPPORTUNITY / CHALLENGE
What challenge were you trying to address with Tenet Partners?
We used Tenet Partners and their brand index modeling to understand familiarity and favorability among the investor audience and understand our brand equity evaluation as a portion of our total company value.
SOLUTION
What was the scope of their involvement?
Tenet Partners first came on my radar about five years ago when they were releasing their annual corporate brand indexes by sector. I noticed that they had a long history—more than 20 years—in tracking the chemical industry, and Eastman is a member of that vertical. Since we were looking for ways we could quantify and qualify investor perception of Eastman over time, I engaged with Brad Puckey, who leads the research practice of Tenet Partners, and they took us through their methodology of how they gain insights through in-person interviews of people within the target demographic.
We spent some time looking deeper into the competitive landscape together and identified four specific target companies that we wanted to track our attribution against. It was a very collaborative, open, and iterative process which now not only results in an annual output deck or playbook for us, but we've also moved to their online portal where we can look at information quarterly and on demand in a very visual way, telling the story of our brand equity and its journey within this specific target audience over time. It's been a great partnership, and I really like that they've added this on-demand visualization tool and portal that allows me to get my fingers dirty anytime I want without necessarily having to wait for the annual review. It's been a win-win.
How did you come to work with Tenet Partners?
I was doing a lot of research on LinkedIn in this space, and we had gone through an RFP [request for proposal] process about five years ago looking at large agencies to help us think about our brand acquisition strategy when it comes to mergers and acquisitions. Core Brand, which was the previous name of Tenet Partners, was on our shortlist, and we worked with them to produce an RFP to help us think through our brand hierarchy strategy.
We ultimately didn't go to Tenet Partners for that work, but through learning about their practice and their specialty in that area, we decided to focus them more narrowly in this space because they had such a long line of equity, relevance, and expertise, and because they had been tracking us since we spun off of Kodak in the 1990s. There was a lot of rearview mirror understanding we could get without having to commission brand new work, so it was the best of both worlds.
We had come to know them through another project. From narrowing our scope there, we discovered that they had this other practice that met a need for us, so we leveraged all of the work together to go into this vein of understanding.
How much have you invested with Tenet Partners?
It’s been under $200,000–$250,000.
What was the month and year you started working with Tenet Partners?
This is our fourth year of working with them for the corporate brand index information. We began working with them in May 2013. Our work is ongoing with them.
RESULTS & FEEDBACK
Could you share any evidence that would demonstrate the productivity, quality of work, or the impact of the engagement?
Their work has raised awareness internally with our key decision makers, and certainly with our investor relations group, about the process and approach to evaluating a brand as a part of a portfolio. In the past, that was seen as something that was very hard to do, and maybe it had a little bit of fluffy science around it. The leadership and practice that Brad has at Tenet Partners have really helped translate this into a credible source of data for our internal team. It has set the base foundation for us to now credibly earn the right to grow our investment in our brand, how we talk about our brand and the evolution of our brand at the company as an asset. It has completely shifted the conversation since the time we began working with them; that, to me, has been invaluable.
How did Tenet Partners perform from a project management standpoint?
I have no issues whatsoever. They meet every deadline. The narratives they provided us and the explanation and foundation of all their data and statistics are excellent. They're very accessible. Dealing with Brad is like naturally talking to a colleague that you've been working with for 10 or 20 years or someone that you went to college with. He's just very easy to understand. Even though his head thinks in big data and analytics, he's able to translate that into a marketer's language and I find that very helpful.
What did you find most impressive about Tenet Partners?
Their longevity in this space is what makes them stand out. I serve on the corporate brand council, and Tenet Partners is often looked to as a leader in this space. We've had them come in and speak on numerous occasions about this practice and their methodology in it. They are at the forefront of brand evaluation when it comes from the investor point of view. Their history of being 30 years in it now is impressive. A lot of companies bring their own flavor, methodology, or "secret sauce" that makes them try to be unique in this space, but Tenet Partners has really backed it up with the longevity. You get so much value from working with them because you're not always having to commission new work. You're able to benefit both from a historical and the forward-looking view, and I think that really sets them apart.
Are there any areas Tenet Partners could improve?
They could have come up with the online portal sooner. That is the only thing. The ability to have this on demand sooner versus waiting for the annual cycle would have been more robust. I'm very thankful that we have it now.
RATINGS
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Quality
5.0Service & Deliverables
"The quality is on par and best in class compared to all the agencies that I've worked with."
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Schedule
5.0On time / deadlines
"No issues. They've never missed a deadline."
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Cost
5.0Value / within estimates
"I haven’t been able to find another agency with a historical view that we could access for this investment level."
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Willing to Refer
5.0NPS
"I've recommended them several times to other companies.