One of the most valuable company assets is its brand. Therefore, it is important to measure satisfaction, awareness, and perception. There is no better way to achieve this than to implement brand tracking into your marketing plan.
A brand tracking study is a useful market research tool that actively measures the health and strength of your brand’s performance over time. It is used to collect and analyze real-time feedback from customers in order to improve and make critical business decisions for the future.
A tracker survey is known to provide businesses with a plethora of benefits, including eliminating guesswork from strategy planning and providing concrete evidence to help your organization flourish.
In this blog post, I will outline what brand tracking is and the positive impacts it has on successfully marketing your brand, products, and services.
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What is Brand Tracking?
The purpose of brand tracking in marketing is to continuously collect quantitative data relating to your brand in order to analyze how consumers perceive the success of your brand. The data is obtained from surveys that gauge consumers’ awareness, loyalty, and attitude toward the brand.
This information provides a company with a 360-degree view of its brand, which is later used to determine how the brand is performing in the marketplace.
Brand tracking studies can be used:
- Identify trends
- Make comparisons
- Gather customer feedback
- Measure performance and awareness
- Evaluate new opportunities
- Detect warning signs
3 Ways Brand Tracking Impacts Marketing
Brand tracking is a powerful tool that harnesses the capability to determine the next move for an organization.
This study can not only evaluate a brand’s performance, but it can also provide in-depth insight into the level of awareness, attitude shifts, and gauging the success of your brand’s next marketing campaign.
Important marketing elements brand tracking measures:
- Brand awareness
- Changes in brand perception
- Determining the success of a marketing campaign
1. Brand awareness in brand tracking
This element is composed of two measurements, including brand awareness and brand recall.
Firstly, brand awareness tests a consumers’ capability to recognize a brand, which can be measured by conducting an aided awareness or unaided awareness survey.
Aided awareness is measured by presenting a brand logo to the participant, and unaided awareness is measured by presenting a series of logos and asking respondents which they are aware of. Both measures are used to gauge a participant’s recognition.
Secondly, brand recall evaluated consumers’ ability to remember your brand. This measurement can be used to understand how your company’s marketing efforts have contributed to the awareness of your brand.
2. Changes in brand perception
The world is always changing, and so are your customer’s perceptions and attitudes toward your brand. Therefore, your company needs to adapt to the changing environment by using a brand tracking study to stay up-to-date with our consumers would describe your organization.
By surveying your customers on a consistent basis, your company can obtain the feedback needed to make necessary adjustments to their marketing strategy to align with the customer’s needs. In the survey, you can tailor questions to uncover how consumers genuinely think and feel about your brand.
3. Determining the success of a marketing campaign
Brand tracking is essential to understand how the public will perceive your next marketing campaign.
As mentioned previously, brand tracking can be used to reveal the full story of your brand by gathering information to test out strategies and implement tactics that will appeal to your target audience.
Lastly, this type of study can give your company a full 360-degree view of your brand’s performance among its target market. Many digital advertising platforms only provide high-level insights such as link clicks and impressions. A tracking survey can provide insight to how a marketing campaign improved brand awareness, perception, likelihood to purchase, and more.
Overall, brand tracking is useful in predicting the success or failure of your sales or marketing campaign launch and its lasting impression on your customers.