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4 brand health metrics every brand should know

Posted by Nikky Lee - 26 April, 2022

The best brand health metrics are those relevant to your business. With that in mind, here are the most common metrics we track along with the ones that ambitious brands should know. 

1. Funnel metrics: awareness, consideration, preference

C20-Brand-FunnelsAwareness, consideration, preference are the core metrics of most brand health tracking programmes. Each of these stages represents a stage in your brand’s conversion funnel. However, some brands may have additional steps, such as Trial, Usage and Research, to reflect the journey their customers take. By monitoring these metrics, you can better understand how effective your marketing activity at moving people through the brand conversion funnel.

 

Related content: Learn how to track, measure 

and improve your brand health with our free guide

 

2. Brand attributes

Brand attributes are certain criteria consumers are looking for in a product or service. Let's use the Snap Fitness gym brand as an example. This brand is likely to be perceived as having “24-hour access” and “convenience”, while other gym brands might be more linked to attributes such as “range of classes” or “premium facilities”. However, not all attributes are equal in the mind of the consumer. Some outweigh others in terms of importance, particularly when we take specific customer segments into consideration. For example, having a gym with 24-hour access may be a non-negotiable for a shift worker, therefore this attribute would likely be of high importance to this customer subset.

Within a brand tracking programme, we can use attributes to map your brand and your competitors to see the strengths and weaknesses of your brand and its performance in your market. For example, we can create a brand perception map of your brand and your competitive landscape to identify any white space opportunities. Meanwhile, a priority for action map can reveal what attributes are most important to your customers and how well you perform on them.

 

Read more: Brand attributes: what are they and how do we measure them?

 

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3. Brand personality (also known as brand association)

While brand attributes are about the criteria a consumer uses to assess a product or service, brand personality is the thoughts, symbols, images, and emotions customers associate with your brand. For example, a car sales company might have important brand attributes of “allows trade-ins” and “offers finance”, while its brand personality might be friendly, innovative, or fun, along with symbols, images and impressions consumers associate with your business, such as family-friendly (Toyota) or high-performance (Mazda) or an advertising jingle (for example, Toyota’s ‘Oh, what a feeling’ and Mazda’s ‘Zoom, Zoom’). Just like brand attributes, it is important to keep track of your brand personality elements as they provide real insight into how the market perceives your business rather than how you think they perceive it.

 

Read more: Brand personality: what is it and how do we measure it?

 

4. Competitor tracking

Few brands exist in isolation, which is why it is essential to know how your competitors are tracking to understand the market at large. Competitor tracking allows you to understand where your competition is performing well—and where they aren’t. With it, you can identify opportunities to further develop your products or services and uncover gaps in the market where neither you nor your rivals are occupying. This is crucial information to have on hand when strategising the direction for your business and brand.

Whether you’re new to brand tracking or an old hat at it, it is vital to consider the metrics you’re tracking and how well they align with your business. With the right metrics providing insights on your business performance, competitor performance and market as a whole, you can make smart and strategic business decisions backed by evidence.

 

A healthy brand is a profitable brand. Learn the ins and outs of brand health with our complete guide to tracking, measuring and improving the performance of your brand.

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Topics: Brand Health


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