Not sure brand health tracking is for you? If you’re a growing business looking to scale, here are six signs to help you decide if you need a brand tracking programme.
1. You don’t know how aware people are of your brand
Brand tracking can help you measure the levels of awareness of your brand among your target consumers. This is the first hurdle you need to overcome before your brand can be part of your target consumers’ consideration set.
Generally, brand tracking assesses two levels of brand awareness:
- Brand recall (or unprompted awareness). This determines whether your brand is top of mind among your target consumers. People can typically recall at three to five brands.
- Brand recognition (or prompted awareness). Provides an indication of whether (and to what degree) your brand is reaching its target market.
For example, if we asked you to name a car brand, what are the first brands that come to mind? Toyota, Mazda, Kia? This is brand recall at work. However, if we shared a list of car brand names or logos and asked which ones you recognised, we are gauging recognition.
2. You don’t know what your brand’s reputation in the market is
While brand awareness is important, reputation is also critical. You can have high brand awareness, but poor brand reputation can hamper any growth you are hoping to achieve. Knowing and understanding how your target consumers perceive your brand and what they associate with it is vital if you want to showcase what your brand does well as well as improve its weaknesses.
3. You’re not sure why consumers buy from you
A large part of brand tracking is understanding what consumers see as important when they are looking to purchase in your category(s). What brand attributes—i.e. criteria—do you need to meet to tip them from awareness and consideration into purchase/usage?
A good brand tracking programme will ask this question across your category and then map out how your brand and competitor brands perform in relation to those important attributes/criteria. With this, you can see what attributes you perform well in and what ones you need to strengthen to further meet consumer needs. Moreover, the map may also reveal attributes that no one is meeting, creating a white space opportunity for you brand to move into.
Related content: How to track, measure and improve your brand health
4. You don’t know how well your brand performs among your target audience(s)
While customer segmentation helps you understand the needs, motivations and attitudes of your key segments/personas, brand tracking will assess the impact of campaigns, promotions, and other market activity that target specific segments/personas. For example, a university may run a campaign focused on driving enrolments across a priority segment, such as school leavers. At the end of the campaign, the university would want to see how their marketing activity impacted the consideration to preference metrics related to this segment only. These insights would then help refine future creative, messaging and positioning.
5. You’re not sure how your brand is helping you to achieve your business goals
While your sales figures might show your bottom line, brand tracking can reveal the critical, but often nebulous, impact your brand awareness and consideration activities have on your marketing and sales funnels. It also helps see how well various elements of your brand are contributing to your strategic goals. For example, say you saw a 10 per cent lift in brand awareness last quarter. Brand tracking could reveal how this increase directly contributed to your business’ goal of 5 per cent revenue growth for the quarter.
6. Your marketing strategy is based on ‘gut feel’
Ongoing brand tracking is a valuable way to see the impact your marketing has on all levels of your brand conversion funnel. With it, you can understand which marketing and sales activities are (and aren’t) effective at moving people through your funnel.
For example, if you have high awareness and high consideration, but very low preference numbers, this could indicate your activities at this part of the funnel are not working as well as they should.
If you’re brand tracking regularly, you’ll also see upticks in your funnel metrics as your marketing campaigns hit the market. By comparing these upticks, you can understand how consumers are responding to your marketing messaging and creative, which can allow you to further test and refine in future campaigns.
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.