Brand tracking metrics enable organizations to make critical business decisions informed by robust data and provide a greater return on marketing efforts by boosting overall brand health and communication. At SIS Global Marketing, we enable successful brands by building and monitoring meaningful metrics that establish well-defined, actionable marketing initiatives – positioning brands for the future while boosting their current success.
What is brand tracking?
Brand tracking informs an organization about its overall brand positioning and helps them make better decisions surrounding new and existing customer groups. Painting a transparent image about a brand’s strengths, weaknesses, competitive positioning, marketing objectives, and long-term strategies provides companies with a greater preparedness as they navigate through their rapidly shifting industries.
How is brand tracking performed?
Traditionally, brand tracking relied on costly market studies or customer surveys to inform business decisions.
Brands can still use these surveys to understand their overall brand health or the effectiveness of a particular campaign. Still, many have found great success by executing their brand tracking strategies through modern technologies. Many current approaches to brand tracking rely on data pulled from digital engagements – whether through social media, service providers, or elsewhere. Brands looking to reposition themselves or assess their immediate brand position may not benefit from lengthy studies or research initiatives, so having access to brand data through these channels has significantly shifted how brands understand and leverage their positioning.
What are the critical metrics in brand tracking?
Every brand tracking strategy will vary in its execution depending on organizational needs, access to information, and long- or short-term goals. While every scenario is different, there are several metrics that brands work to understand regardless of procedure as they help with competitive positioning and campaign strategy development. Our team of experts at SIS Global Marketing can help brands identify and manage their most influential brand tracking metrics – ultimately driving tremendous success through their marketing efforts.
Brand Awareness – Brand awareness is a vital metric when understanding an organization’s current competitive positioning and helps inform marketing efforts that promote increased sales and revenue. Brand awareness tells an organization how familiar audiences are with their brand name or image. If we look at organizations with high brand awareness, they often possess significant unaided brand recall with consumers. Unaided brand recall refers to the likelihood of an individual recalling a particular brand when asked to associate companies with a specific product category. Aided brand awareness refers to the probability of an individual recognizing a particular brand amongst a list of competitors in the same industry. While both metrics are helpful to understand, unaided brand recall is a more robust indicator of purchase intent amongst consumers. Furthermore, if unaided individuals can associate a brand with a specific product category, it is known as brand equity. Creating more significant brand equity will ultimately mean more business as an organization builds rapport with new and existing customers.
Having significant brand awareness does not always guarantee success for a particular organization. While it is an important metric to monitor, brand usage helps organizations understand the bigger picture by comparing their brand with the competitive landscape. Organizations use brand usage metrics to understand how frequently customers are purchasing from them versus their competitors and why they choose one over the other. While it may be challenging to enter or remain within a particular industry, leveraging brand usage data can help an organization differentiate itself even in the most crowded markets.
Brand attributes include the associations that individuals have with a particular brand or product. With a product, brand attributes can consist of items like quality, value, reputation, etc., and are commonly used as purchasing criteria by consumers. Brand attributes at an organizational level can include occupational environments, political affiliations, mission statements, authenticity, and more. Companies that remain proactive in strengthening and maintaining their brand image can leverage brand attributes to increase sales, attract new talent, foster change in the community, and give back. Crafting a positive, consistent, and truthful set of brand attributes will help organizations remain successful long-term and avoid any issues down the road.
Brand lift refers to the perceived changes around a brand experienced by target consumers. Understanding brand lift is no easy task for any organization. Still, with the proper guidance and the resources offered by SIS Global Marketing, companies can paint a transparent image about how their brand perception is changing over time. To effectively understand brand lift, organizations must have a clear message they would like to convey and a baseline understanding of what message they are currently sending. With these items established, a brand can utilize marketing or consumer research to assess how audience perceptions have changed before and after a marketing campaign. For some organizations, this metric can be valuable to evaluate marketing efforts at a smaller scale before a full launch. This process sometimes referred to as a soft launch, can inform a brand how their image may change if they move forward with a particular campaign. Without access to market or consumer research, however, organizations may fail to capture insights that could hurt their brand image in the long run.
While each of these metrics involves different KPIs (key performance indicators) and qualitative markers, our team of experts can guide organizations towards the metrics that will make the most significant impact on their overall brand image and success. As aforementioned, each scenario is different, and that’s why organizations can’t afford to “do what they’ve always done” when it comes to brand tracking.
What are the benefits of brand tracking?
Brand tracking provides significant benefits to organizations of all shapes and sizes. Whether an organization wants to scale from the ground up or re-strategize its current brand image, brand tracking provides a way to do so and ensure that resources are not going to waste. Without an effective means of measuring success, it’s anyone’s guess as to how successful a particular campaign or communication is. Brand tracking enables clearly defined, visible, and actionable metrics that tell a brand whether what they are doing is working or not. It saves them cost on wasted efforts and allows brands to switch paths if they find negative associations with their current efforts. Brand tracking enables preparedness, where operating without a standardized method of brand tracking can be detrimental to a business’s overall success.
How can SIS Global Marketing help?
SIS Global Marketing helps companies establish robust brand tracking systems that enable long-term success and foster innovative marketing techniques. These brand tracking metrics help businesses form authentic relationships with their consumers and develop sustainable marketing initiatives. Our team of experts has decades of combined experience pushing brands to be the best version of themselves possible. From the very first point of contact, our professionals will sit down and take the time to understand a business’s strategic goals. Once a well-defined set of business goals has been established, our team works diligently to build a brand tracking system that enables complete transparency over an organization’s brand image and success criteria. To help businesses reach and manage their most ambitious of goals, our brand tracking, and customer success group offers services that include, but are not limited to:
- Brand goal identification
- Brand tracking metrics establishment
- Short- or Long-term brand tracking services
- Brand auditing (Awareness, Usage, Attributes, Lift)
- Market Campaign and Brand Strategy Consulting
- Re-branding Consulting
Reach out today to see how SIS Global Marketing can bring your brand to the next level and help establish long-term growth around your most vital brand(s).