What are the key metrics of brand tracking?
Brand tracking goes much further than simply measuring the awareness of your brand. Yes, this is an important factor in brand tracking but there are different measurements that you need to consider to gain a full picture of how well your brand is performing in the marketplace.
By combining all of these elements together; you’ll be able to understand your customers better, whilst also gaining an insight into potential customers.
If you’re unsure as to why brand tracking is important, our guide to brand tracking can give you an overview of everything you need to know to get started.
Brand Awareness
The one that we’re all familiar with is brand awareness. This allows you to understand to what extent people recognise and identify the name of your brand and what you do (or sell). It’s an important part of the brand tracking process, as you’re able to analyse if your brand is top of mind during the customer’s buying process.
If people aren’t aware of your brand, they are less likely to purchase from you. Therefore, continual tracking of your awareness, allows you to monitor how this changes over time.
There are two main types of brand awareness that can be measured; Spontaneous and Prompted.
Spontaneous
‘Spontaneous’ (or unaided) awareness measures the percentage of people who are aware of your brand, product or campaign advert without being prompted with cues. This gives a clear indication that your brand is the preferred choice amongst your target audience, whilst also understanding how you compare to your competitors.
Prompted
‘Prompted’ (or aided) awareness looks at how many people recognise your brand when shown a list of names or logos in relation to the question they are being asked.
When used together, you’ll be able to gain a full picture of where your brand sits within the market and how your target audience thinks about your brand during their buying journey. The ultimate goal is to be a market leader in your category, so tracking brand awareness will help you to stay at the forefront of your customers minds.
Brand Loyalty
One of the main goals for any brand is creating brand loyalty, keeping your target customer engaged so they continue to buy your products in the future, instead of from your competitors.
Creating a positive association with your brand is the main driving factor behind brand loyalty. By ensuring your customers always have a positive experience when shopping with your brand, you’ll inevitably create repeat customers (customer loyalty).
To understand why a customer is loyal to your brand, you need to monitor your customer satisfaction levels - asking for direct feedback means you can see first hand what it is about your brand the customer likes e.g. excellent customer service or quality of product.
Remember, Positive Memories = Brand Loyalty
NPS (Net Promoter Score)
To understand how your customers feel about your brand is through a NPS (Net Promoter Score), which provides a numerical measure of how likely your customer would recommend your brand or product to their friends, family and colleagues.
Using a basic scoring system of 0 to 10, with 0 is not likely at all and 10 being very likely to recommend you - these can then be broken down into:
Promoters
Passives
Detractors
Promoters
Promoters are the respondents who provide an answer of 9 or 10, meaning they’re more likely to be loyal and speak positively about your brand.
Passives
Passives are the respondents who provide an answer of 7 or 8, although they shop with you, they’re unlikely to recommend it to their friends and family.
Destractors
Detractors are respondents who provide an answer between 0 to 6, suggesting they’re unhappy with your brand and wouldn’t recommend it to anyone else.
By implementing a NPS score into your marketing strategy, you can understand how customers feel about your brand and if they’re likely to become an evangelist.
Brand Affinity
Brand Affinity is when the brand and consumer perceived values are aligned with each other. Your target customer believes that your brand values are shared with their own values, which in return creates loyalty amongst customers.
Brand affinity plays on the emotional side of your customer, creating connections between the two. By tracking this metric, you can understand if your brand resonates with your target customer how you intended it to.
Brand Usage & Purchasing
To measure the brand usage and purchasing is to understand how often your customers are buying from you and using your product or service.
It helps you identify those who are already purchasing from your brand but also allows you to target potential customers by asking them ‘would you buy from us?” This then gives you an indication of who you can be targeting in your marketing campaigns.
Brand Perceived Quality
When looking at brand perceived quality, you need to remember this focuses on how your customer actually perceives your brand, and not how you say or position your brand to be.
Perceived quality is more likely to lead to a purchase, as if the customer thinks you’re the best for them, then of course they will continue to buy from you. It’s important to know how your brand is being perceived by your target audience through continual branding tracking activity.
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