We all know that our own physical and mental health is important, but did you realize your brand also has a lot of the same components? We’re not talking about just being Happiness or Successful - these values can quickly turn into something less than desirable if left unchecked.
"What kind?" people might ask; Well, there's an easy way to find out! Symptoms include low productivity/performance at work (or home) and lacklustre relationships with others, both internally AND externally oriented towards one another.
So, it is essential that you diagnose your business and make sure that it doesn't fall ill due to any unforeseen circumstances. Thus, you have to take care of your brand health.
What Is Brand Health?
Brand health is about how well your company performs overall. If the brand helps you achieve all of the goals that you have set for yourself, then it's successful and a healthy one! Healthy brands are those that have a high brand score!
Why Is Brand Health Important?
Brand health is important because it can help your company achieve its goals. If the brand provides value and helps you reach all of these objectives, then that would make them successful! And as we know from the previous discussion about how healthy brands are those which have a high brand score - so this means having an effective marketing strategy will always lead towards optimum profitability for any business venture.
Benefits of knowing your brand health :
- To determine what's working for your branding strategy and what isn't
- Take an honest look at the performance of all elements that make up a cohesive whole.
- Identify strengths and weaknesses - This will help you correct any problems before they get out of hand or worse yet, become irreparable!
Brand Health Metrics Every Company Should Keep a Track Of
Now that you know what is brand health and why it is important, here are a few brand health metrics that you need to take care of.
1. Brand Awareness
When it comes to marketing, brand awareness is a fundamental metric that should never be overlooked. Marketers can track their progress by conducting surveys or extrapolating engagement information from social media platforms.
The best way for them to get started on this journey toward growing their own value as an organization starts with assessing how easily recognizable they are within consumers' mindsets and determining if there's room left under those perceptions (or not).
Brand Awareness has been shown time after again as being one of the most important factors when deciding who will thrive in today’s marketplace so don't leave yours behind!
2. Brand Consideration
Brand consideration is a great metric of brand health, as it measures how popular you are in comparison to generic or competing brands. You can get this information through surveys and by paying close attention to market share following branded campaigns--marketing that helps your company stand out from competitors!
3. Brand Association
This metric is a ranking of how closely your customer base associates you with certain brands. This mapping can help identify competitors and potential partnerships because it outlines who their "brand neighbours" are - meaning that this data could be used in targeting new customers or pairing up with existing ones for cross-marketing opportunities!
4. Customer Satisfaction
The customer satisfaction survey is a great way to measure how your customers feel about their experience with you. If they aren't satisfied, then it's likely that future purchases won’t be either and may speak negatively of the brand as well!
5. Brand Perception
Your brand perception is the first impression your customers have of you. It's important because it helps them decide if they want to buy from your brand or not.
There are many ways for people in general communities that allow online surveys like Google Consumer Experience (GCE) which provides data on companies' behaviours based on these opinions as well feedback collected via smartphone applications available at both iTunes store and Playstore corners respectively.
6. Brand Salience
When it comes to building a brand, you need the right tools for measuring your success. Brand salience helps determine if customers will remember and favourable opinion of what makes your brand different from others.
For example, A quick-service restaurant could ask people in their target audience which restaurants popped into mind when they thought "quick service." If this was one that consistently came up on lists near or at the top (based on responses), then it is likely pleased with how well it's doing thus far.
7. Brand Loyalty
Brands have always known that there is something special about loyalty. It's the reason why many companies strive to maintain their customer base, and it can be assessed through methods like brand health surveys or repurchase data.
8. Brand Sentiment
With the help of sentiment analysis, marketers can identify how their campaign is shaping overall perceptions for a brand. This information could be tied to ROI as customers who like and trust your company are more likely than ever before in recent history (or perhaps any) to purchase from you regularly on an ongoing basis!
9. Net Promoter Score
When it comes to determining a customer's likelihood of recommending your brand, the Net Promoter Score (NPS) is often used. This metric helps you see whether or not they're advocates for what yours has going on and how well-loved/known an organization might be in its niche market segmentation terms--whether people would tell others if these were available or good to use.
10. Brand Equity
Your brand equity is a measure of how much your company overall means to you, both socially and financially. By generating awareness for the things that matter most in life through promises delivered on time with great quality control over what speaks volumes about who we really want our audience to be - this will increase values which then leads us up towards having even higher metrics than before!
Alan Joseph
Conclusion
Branding is a strategic process that takes time and effort to develop. If you are looking for the benefits of branding without putting in all this hard work, metrics can help provide an estimate on how successful your strategy was by providing some basic information about its impacts such as traffic or revenue numbers.
It's important not only to understand what these numbers mean but also to use them efficiently because if Brand Analytics doesn't give us enough data then there may be other ways where brands aren’t maximizing value from their brand strategies. So, always take care of your brand metrics and keep monitoring them to make sure your brand is healthy and well-functioning.
FAQ
What are brand health metrics?
Brand health metrics are metrics that help you track the performance of your company.
What are examples of brand metrics?
Net Promoter Score, Purchase Intent, Unprompted Brand Recall, Prompted Brand Recall, Brand Uplift, and Share of Voice are some of the examples of brand metrics.
How do you measure brand metrics?
Website Traffic, Brand Awareness, Search volume, and Social Media Engagement are metrics you can track to measure brand metrics.
Source :- https://startuptalky.com/ Author :- Diksha Sinha Date :-February 28, 2022 at 06:13PM