Brand health tracking is a key component of any successful marketing strategy. Strong brands can lead to increased customer loyalty, improved customer experience, and ultimately, greater sales. But how can businesses measure and understand their brand health? Enter brand tracking.
Brand health tracking involves monitoring and analysing various metrics related to a brand. These metrics can include brand awareness, customer engagement, share of voice, net promoter score, purchase intent and more. Tracking selected metrics over time enables businesses to gain valuable insights into their brand’s strengths and weaknesses, and make data-driven decisions to improve their marketing strategy and customer experience.
One of the most significant benefits of brand tracking is its ability to measure both conscious and subconscious customer perceptions. Tracking both types of perceptions, means that businesses can gain a better understanding of both prospective and existing customers perceptions of their products or services. Brands can then use this data to adjust their marketing strategies, create new content, and improve customer service to better meet their target audience needs.
Another benefit of brand tracking is that it allows companies to measure the impact of their marketing campaigns. Brands can get a sense of how their marketing efforts resonate with consumers. This information can be used to fine-tune marketing campaigns and ensure that they are effective in driving brand awareness and sales.
Brand tracking can also help companies identify trends and opportunities in the market. The analysis of data over time, enables companies to spot shifts in consumer behaviour and preferences, and adjust their marketing strategies accordingly. This can help companies stay ahead of the competition and capitalise on emerging trends before they become mainstream.
Brand tracking can also help companies evaluate and measure brand equity over time. Companies can get a sense of how their brand is perceived by consumers and how it stacks up against the competition. This information can be used to make strategic decisions about brand positioning and messaging and to ensure that the brand is positioned for long-term success.
Brand tracking can also help businesses understand how their products and services are performing in the market. Tracking purchase intent and market research data provides businesses with insights into their target audience’s preferences and purchasing habits. Businesses can then adjust their product offerings and marketing strategies to better meet their audience’s needs.
Another benefit of brand health tracking is its ability to measure brand reputation. Tracking share of voice and net promoter score, allows businesses to measure how their brand stacks up against the competition. They can also track changes in these metrics over time to measure the success of their marketing efforts and customer experience.
Social listening is another important aspect of brand tracking. Monitoring social media platforms means that businesses can track brand mentions, understand customer sentiment, and respond to customer feedback in real time. This can help businesses improve their customer service and build stronger relationships with their audience.
Tracking customers sentiment via brand mentions on social media and other online platforms is useful but omits vital demographic groups. Not all customers are vocally sharing their opinions online so you may be missing the perceptions of a large segment of your target market if you are only performing online market research.
At CARD Group Research & Insight, our brand behaviour tracker is incredibly effective at tracking brand health. Our system provides valuable insights into a brand’s performance and enables data-driven decisions to improve a brand’s marketing strategy.
Measuring and tracking brand health is crucial for any business looking to build a strong brand, improve its customer experience, and increase sales. Brands can gain valuable insights into their audience’s preferences and adjust their marketing strategies accordingly. If you’re looking to improve your brand’s performance, get in touch with us today.