Brand Health Tracker (BHT) is a tool used to measure your brand performance over time on different metrics such as awareness, usage, brand positioning, market share and brand equity etc. Akademos deploys a Brand Health Tracking model based on credible research which allows businesses to manage their brands and performance on a forward-looking basis .
What is Brand Tracking?
Why is brand tracking important?
How Do I Develop a Brand Tracking Platform?
What is premium brand status?
What are the key metrics for brand health?
What is brand perception?
Why is it important to adapt your brand strategy?
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What is meant by brand health?
Brand health can be defined as a measure of how well a company or brand delivers on certain attributes of a product or service that it promises its customers, especially how those attributes are perceived by customers in terms of quality and delight.
What is a brand health check?
A brand health check will help you determine the current state of your company and implement necessary improvements. It tells you whether your brand is OK or not. Measuring brand health on a regular basis will help you stay one step ahead of your competitors.
What is brand tracking and why is it important?
Brand tracking is essentially a process where you can follow the changes of your brands perception over time. By continuously measuring your brands health, consumers opinions, momentum and associations, you will be able to adapt and overcome problems in real-time, not when it's already too late.
What is a brand tracker survey?
The purpose of a brand tracking study, also referred to as a brand tracker survey, is to collect information over time (monthly, quarterly, yearly) by means of generating and measuring data on an ongoing basis. This allows organizations to; Regularly identify trends. Make comparisons to competitors.
How is brand health score measured?
There are three common ways to measure brand health: Social listening. Focus groups and surveys. Customer feedback.
How is brand tracking done?
Brand tracking is a longitudinal study to examine the attitudes toward and awareness of a brand over a set period. It includes what customers think about a brand, and how they act towards a brand, the brand's position in the market, and the growth potential for a brand.
Why is brand health important?
Tracking brand health is about developing an all-encompassing picture of a company or brand, allowing it to make smart, profitable decisions that can be attributed to data. It delivers insights that help map opportunities on ways to differentiate the brand, expand brand awareness, and influence brand preference.
Why is brand assessment important?
A brand assessment provides an opportunity to evaluate the strength of your brand, to underscore the value of your brand with customers, and to reposition the brand, if necessary, to reflect changes in the marketplace. What's more, it helps you and your staff recommit to the vision and goals of the business.
What are the benefits of tracking tools?
9 Advantages of Task Tracking Software that Can't be IgnoredManage all your work/accounts in one place. ... Prioritize tasks. ... Team collaboration. ... Share the workload. ... Eliminate geographic barriers. ... Manage deadlines. ... Track time spent on tasks. ... Save more time on follow ups.More items...•
What is the use of tracking?
A tracking system, also known as a locating system, is used for the observing of persons or objects on the move and supplying a timely ordered sequence of location data for further processing.
Why is tracking data important?
Why is data tracking important? Data tracking is useful for businesses looking to better understand user behaviors. It provides businesses with insight into customer behaviors on their web pages, landing pages, blog articles, and more so they can deliver targeted, personalized, and delightful experiences.
How do you create a brand tracking survey?
How to start Brand ResearchStep 1: Establish a Brand Position and Target Segment. ... Step 2: Choose the Brands that you need to Track. ... Step 3: Choose Metrics. ... Step 4: Collect Data. ... Step 5: Analyze the Results. ... Step 6: Adjust Strategies. ... Step 7: Repeat Data Collection at Certain Intervals.
How much does a brand assessment cost?
Most agencies charge anywhere from $150–$300 per hour for creative and strategic services. This should include ideation for your company name, tag line, brand positioning, brand story, and messaging. The range is typically $1,000 to $5,000 for these services.
What is a tracker in marketing?
The definition of tracker In mobile measurement, a tracker is a campaign tracking link. A mobile advertiser must insert a tracker into a campaign to allow them to measure performance. This includes reporting on how many clicks and impressions a campaign generates, showing how efficiently users convert.
What is a good brand health score?
The results could be from -100 (if every customer is a “Detractor”) to +100 (if every customer is a “Promoter”), therefore, a positive NPS is considered a good result. However, the score should be 50 and more to clearly show that the word of mouth is working for you.
What is a good brand score?
7The IELTS scaleBand scoreSkill level8Very good user7Good user6Competent user5Modest user6 more rows
How is brand KPI measured?
Brand KPIs you should measure in 2020Sentiment. Sentiment can tell you your overall brand health by informing you what people know and feel about your brand. ... Social mentions. ... Top-of-mind brand recall. ... Share of voice. ... Purchase intent. ... Bounce rate. ... Conversion rates. ... Cost-per-acquisition.More items...•
What are the 4 steps of branding?
If you are part of a marketing team tasked with building your company's brand, you can follow these four steps:Determine your target audience.Position your product and business.Define your company's personality.Choose a logo and slogan.
What are the 5 steps of the branding process?
Branding: 5 steps for building your company's brandConduct effective market research. ... Focus on a unique value proposition. ... Choose a brand name that delivers your message clearly. ... Create an emotional connection. ... Deliver consistent communications.
What are the 3 stages of the branding process?
From the successful ones, I've templated a process that helps bring clarity and progress when branding gets overwhelming. I've broken it down into 3 phases: mapping, making, and marketing.
What is brand health audit?
A brand audit is a checkup that evaluates your brand's position in the marketplace, its strengths and weaknesses, and how to strengthen it.
How much does a brand assessment cost?
Most agencies charge anywhere from $150–$300 per hour for creative and strategic services. This should include ideation for your company name, tag line, brand positioning, brand story, and messaging. The range is typically $1,000 to $5,000 for these services.
How do I check my brand reputation?
Metrics to consider when measuring brand reputationSentiment analysis. The first place to start is sentiment. ... Share of Voice (SOV) We just touched on volume – but do you know how much share of voice you've generated? ... Reach. ... Key messages. ... Tier 1 media and top publication penetration. ... Spokespeople mentions/quotes.
13 Brand Health Metrics You Need to Track in 2022 | Latana
1. Brand Awareness. Brand awareness is the foundation of any successful brand strategy. Which is why, time and time again, we seem to circle back to it. And because it’s such an important metric for all things brand, we’ve already numerous articles on it — from measuring brand awareness to high-level tips for marketing executives.. The main takeaway?
What is brand health?
The term “brand health” tends to confuse people. Is it just another buzzword? Does it have anything to do with the viruses? Should you be worried?
What is the most important brand health metrics?
Mentions' growth (brand awareness) is one of the most important brand health metrics. Screenshot from Awario
How to assess brand health?
Social listening shows brand awareness, brand reputation, and share of voice – the most demonstrative brand health metrics. All these metrics are measured on social media (social networks, news sites, blogs, forums).
What is social media monitoring?
A social media monitoring tool shows how the number of brand mentions has grown over time. It shows the volume of conversation online and its dynamics, as well as where and when the conversations happen.
Why is brand awareness important?
Measuring brand health helps you get precious marketing insights. For instance, you take increased brand awareness as a good sign. However, brand awareness can be either positive and negative. When Facebook users are scolding your new product or service, you will get a big number of brand mentions, and with them – gain notoriety.
Why is a strong brand important?
A strong brand is important for the company’s success – I am sure you agree. It boosts sales, attracts talent and free publicity. So, where’s your brand at? Do people know about it? How do they perceive it? What is your brand associated with? How does it stand in relation to its main competitors?
How to gather customer feedback?
To gather customer feedback, most companies turn to interviews. Conducting regular interviews provides marketers with detailed insights into brand health. You can get the information on what the customers like and dislike about the brand, how their perception of your brand has changed over time, why they chose your brand and not your competitors’ brand, and so on.
What is brand health tracking?
Brand health tracking can measure how your brand is performing on awareness and usage, brand positioning and brand performance. It will show what aspects of the brand funnel need bolstering, whether the brand position is correctly aligned with brand objectives, and where strengths and weaknesses lie in order to improve brand investment.
What is involved in Brand Health Tracking Research?
Most of our brand health tracking research is carried out amongst a representative sample of your target audience, rather than interviews exclusively with customers. It is just as important to know how your brand is perceived amongst potential customers as it is amongst existing customers. This can present problems in a very fragmented market where companies have a small market share, in which case we would boost the interviews with users of the brand.
What is brand delivery?
Brand delivery measures the overall satisfaction with your brand and the likelihood to recommend it to others
Why is brand health important?
Strong brand health is therefore crucial to maintaining competitive advantage.
What is advanced online survey?
Advanced online surveys to high-quality, targeted respondents which offer cost savings, time savings and improved data accuracy.
How is brand health measured?
Brand health is essentially measured by how effective your brand is in helping you to achieve your aims. That effectiveness can be measured in a number of ways, such as: Brand Reputation. Brand Awareness. Brand Equity.
What is brand health?
Brand health measures how effective your brand is at helping you achieve your aims. We explain how to measure and track it effectively. There are various definitions of brand health. Each includes a collection of metrics and approaches, but they all lead to the same thing. Brand health is essentially measured by how effective your brand is in ...
How to measure brand awareness?
You can measure brand awareness by looking at volumes of mentions around your organisation and products. You can them compare that to your competitors to see how you how you’re doing comparatively. From there you can also measure sentiment around those mentions. In other words, whether they’re positive or negative.
What happens if your brand is unhealthy?
If it’s unhealthy, your brand is actively damaging your organisation. Using the metrics you’re tracking you’ll be able to see why this happening and how to stop it. When it’s thriving, you can find out how to keep this going. And when it’s fine you can look for improvements.
What is brand awareness?
Essentially it’s about getting a full understanding of your brand and how you can use it to your benefit.
What can you do to give your customers insight into your brand?
Similar to focus groups and surveys, conducting regular interviews with your customers can give great insight into brand health.
What does it look like when you've chosen your metrics and collated the data for each?
So when you’ve chosen your metrics and collated the data for each, what’s next? It’ll mostly look like a range of unrelated numbers with widely different contexts. The best bet is to visualize this information that quickly shows when things are changing.
What is a Brand Tracking study?
Brand tracking is a continuous measurement of brand health that empowers companies to make better decisions. Trackers enable strategic planning by measuring brand performance in relation to competitors, spotting industry trends, and capturing competitive intelligence.
Why Does My Brand Need a Brand Tracker?
In today’s fast-paced world, it’s critical for brands to be agile and run brand trackers to identify and predict market changes and trends. It is more crucial than ever to frequently gather intelligence to be able to make the most informed business decisions.
What is Needed to Start a Brand Tracker?
Ready to start your own tracker? PureSpectrum can help. Here are a few preliminary questions you should be asking at the start of your research:
Why Should I Use PureSpectrum for My Brand Tracker?
PureSpectrum combines a quality first sample marketplace with an easy-to-use insights platform, all supported by a professional services team of seasoned market researchers. This innovative synergy allows anyone the ability to program studies, quickly source respondents within a global marketplace, and analyze data all on a single dashboard.
What is Brand Tracking?
Brand tracking is the process of monitoring brand metrics over time to measure the health of a brand.
Why is brand tracking important?
Customer Understanding – One of the most important things brand tracking does is provide deeper insights into the interests and behaviors of your customers.
How Do I Develop a Brand Tracking Platform?
Your platform includes a clear strategy for your brand tracking efforts, as well as the brand metrics you want to track. There are four essential steps to developing a brand tracking platform.
What is premium brand status?
Premium Brand Status – With customer loyalty and trust come an increase in the premium status of your brand. Premium brands are more strongly differentiated—and able to charge more than competitors for similar products and services.
What are the key metrics for brand health?
Research shows that six key metrics capture the full picture of brand health: awareness, perception, usage, preference, purchase intent, and advocacy. These six metrics roughly mirror the marketing funnel and work together ...
What is brand perception?
Brand Perception – How customers think and feel about your brand and which other brands they associate with it. Research into brand perception can help you identify weaknesses in your products or services as well as better understand the expectations customers have of your brand.
Why is it important to adapt your brand strategy?
The market these days is more dynamic than ever. Adapting your brand strategy to ensure your brand remains relevant to the needs of your customers is crucial for continued business growth.
What Exactly Is A Brand Health Tracker?
- If you’ve ever heard terms like “automated brand health” before, that probably means you’re trying to come up with ways to monitor how your company is performing. Many metrics allow you to do that. Obviously, sales are the most prominent one. Whatever service you provide or items you sell, if you’re selling them at a pace that works for you, you’re...
Assessing Brand Vitality
- You usually rent these services on a monthly basis using the software as a service business model, or SaaS. You pay a fee so you can access an entire list of analytics-based services. The one you want should be easy to use and understand since it won’t do you much good if it has poor UX. You can use these suites to assess brand visibility. This refers to how well you are getting y…
Other Considerations
- When you start to use your brand health tracker, you might also look at future relevance. Future relevance calculates how much staying power your brand has based on various market considerations. If you have products that people are going to need in the future as well as the present, that should contribute to a strong future relevance score. Trust matters too. If everyone …
What Else Can Your Brand Health Tracker Do For You?
- While it’s useful for you to utilize analyticsto track your brand to see how your company is doing in various ways, the best brand health tracker can do even more than that. It can also make concrete recommendations as to the best course of action in particular areas. It will carefully study your niche and let you know what marketing methods, new products, and community outreach effort…