Brand metrics are measurable values that indicate how well a brand is performing in the market. They help in understanding how a brand is perceived, if (and how much) it’s trusted, and how desired it is by consumers.
More importantly, these metrics guide marketing strategies, highlight areas for improvement, and ensure your brand stays aligned with consumer expectations.
Before checking them out, remember that all the metrics below are strong indicators of a healthy brand and you We mean that you should consider them all to conclude that your brand is healthy or needs some extra care.
1. Brand Awareness
Brand awareness is an important brand health metric as it gauges how many people are familiar with it. There are plenty of brand awareness metrics that can help you paint the whole picture of it.
A good starting point is to collect your total brand mentions and analyse their volume and reach with a brand monitoring tool. You can extract meaningful information about how many people know your brand, in which location, in which channels people talk about you mainly, and more.
Regarding brand health, higher brand awareness often correlates with a significant market presence. This means the more customers you have; the more people are talking about you online. Of course, that awareness can also be generated by negative comments and reviews, that’s why you need the next metric as well.
2. Brand Reputation
Brand reputation is what matters at the end of the day. You can have thousands of people talking about your brand. But what if they’re complaining about it?
That’s why brand reputation is a must-have brand health indicator. It shows how well your brand is perceived by your audience and how they communicate this perception to the world.
To measure your brand reputation, you can begin with online brand monitoring. Do the same for brand awareness but now go beyond the surface. Dive into sentiment analysis and see if your positive mentions prevail over your negative ones. That’s a sign of a good brand reputation.
3. Share of Voice (SoV)
Now, Share of Voice is basically a brand awareness metric but it’s also necessary for brand health measurement.
In short, it compares your brand’s visibility to your competitors and shows your slice of the audience attention pie. The higher your Share of Voice, the more people are seeing your brand online, which results in higher brand awareness and, in most cases, a better reputation.
4. Brand Recall
Brand recall measures a brand’s memorability. If people can spontaneously recall your brand without prompts, it shows that your brand is on top of your customers’ minds.
5. Brand Association
Brand association and brand positioning go hand in hand. This metric serves as a means to understand the mental connections of a customer between your brand and a feeling, image, or concept.
6. Purchase Intent
Purchase intent is a predictive metric that gives you a glimpse into future sales potential. If more consumers express an intention to buy your brand’s products and services, it hints at strong brand health.
To measure it, you can run another online survey asking questions like:
“On a scale of 1 to 5, how likely are you to buy [product] if it were available in the stores that you regularly visit?”
7. Brand Loyalty
Brand loyalty is one of the ultimate brand strengths that marketers crave, as it indicates the degree of customer commitment. In fact, high loyalty suggests that customers see unique value in the brand, leading to repeat purchases and a lower likelihood of switching to competitors.
You can track down the loyalty of your customers by monitoring the user-generated content pieces they create regarding your brand. Furthermore, to measure your brand loyalty you have to count your repeat customers, check out your reviews, and keep an eye on referrals.
8. Brand Advocacy
Brand advocacy is directly tied to brand loyalty and word-of-mouth marketing. You know, satisfied customers often become brand evangelists who can increase your conversion rates, through referrals and recommendations.
However, brand advocates can also be your employees. Especially, professionals with strong personal brands, talented in networking and thought leadership. Employee engagement plays a huge role today in increasing brand trust and cultivating a positive brand image. Who wants to buy products from companies that abuse their employees after all?
9. Brand Equity
Finally, there’s no brand health tracking without understanding the equity of your brand. Brand equity reflects how much your revenue is growing because of the brand. You can sell a non-branded smartphone for less N100,000, but not an iPhone. That’s the true power of branding. Strong equity means consumers are willing to pay a premium price and choose it over competitors.
Last line
Individual metrics can also be used together with other forms of sales data, to identify and address specific challenges and opportunities at different stages in the relationship between brand and customer.
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