Do you think about the overflowing competition in the unstructured market? And how do we overcome this competition?
The most important thing while positioning your brand in the market is to make people remember your product or service. Because if you post rarely, your audiences forget your brand. As you must have heard, “Out of sight, out of mind .” And if you post way too frequently, people might feel you are overcrowding their feeds which may lead them to unfollow.
For this, knowing the specific metrics and keeping track of data is the most important thing. You can recognize trends and patterns and apply them to future ad campaigns or marketing strategies.
Brand awareness concludes everything that has to do with brand recognition and customer knowledge of the brand. Many well-known brands are available in the market that doesn’t need any introduction just because they have invested a lot in positioning their brand. Brands like Nike, KFC, Apple; Amazon, Ikea; Uber and McDonald’s, we don’t have to say anything else, and indeed we have the same image in our heads. That’s called successful, strong brand identity or brand awareness.
How Brand Awareness Leads To A Brand’s Success?
It doesn’t matter if you are a new business or already have a loyal customer base. You will need a brand awareness strategy for both. If you already have one, re-strategizing based on analyzing the metrics might also be needed.
Analyzing brand awareness metrics is necessary if you don’t want your brand’s success to be a fluke. Check the chain given below:
“Brand Awareness -> Consumer Recognition -> Consumer Action -> Lead Generation -> Increased Sales -> Success”
Brand awareness is the first step to the marketing funnel.
The Way you work
The journey from brand awareness to brand success requires a lot of patience, time, and hard work. Apart from all these, it is essential to achieve the three most important metrics; interaction, participation, and engagement. For this, you can use two approaches:
- Trial and error
- Strategic planning
Types of Brand Awareness Metrics
Businesses can grow themselves based on two types of metrics – quantitative and qualitative. Qualitative data helps you connect better with your customers, while quantitative data are numbers.
Regularly checking, analyzing, and improvising upon these matrices will bring more users to your page. Both of these metrics won’t only help you sustain in the market but will help you flourish.
Reasons To Look Out For Brand Awareness Metrics
Below are the reasons to look out for your brand awareness metrics:
Increase in Sales
To generate sales, you have to spread awareness about the product. This only is possible through brand awareness campaigns, and brand awareness metrics give you insights into your viewers’ preferences.
You can analyze which post content has done better by analyzing the traffic. The more viewers your post gets, the more credible your brand becomes. Especially for a B2B business, trust plays an essential part since it’s not just limited to one person but a team of people who need to know about you. This will increase sales because a business will purchase a product only from a trusted brand. Analyzing the brand awareness metrics is directly linked to lead generation. The better you understand these metrics and users’ responses, the more sales you are likely to generate.
Expose to a New Audience
Mentioning the brand, SEO optimization, and link building are some of the easiest metrics for brand recognition. This will drive new users to your product and increase sales. Understanding your audience’s demographics helps you modify the type of users you have. The demographics may include age, location, gender etc.
Gain Insights on Brand Perception
Gaining insights into brand perception is the most important thing. The user’s content reviews tell you a lot about your brand. You can keep in touch by taking regular qualitative feedback through live chat or surveys.
Website traffic lets you know the number of users, but checking the qualitative metrics will give you a more precise knowledge of your user’s perception of your brand.
Know the Consumer’s Demands
The qualitative metrics and quantitative metrics both help you know if your brand awareness campaign needs any change or not. Also, it helps you know about the user’s preferences, such as; what the users like and what keeps gaining new visitors to your page etc.
What metrics do we use for brand awareness?
Below are the metrics, KPIs and tools that we use for brand awareness:
- Website Traffic
- Brand Impressions
- Brand-Awareness Surveys
- Social Media Engagement
- Search engine optimization (SEO)
How do we measure the success of brand awareness?
Below are the ways to measure brand awareness:
- Analyzing growth in direct and organic traffic
- Analyzing referral traffic
- Tracking share of voice
- Comparing earned media value with competitors
- Tracking backlinking success
- Tracking social media content and activities
- Search popularity
Our team of experts will work closely with our real estate clients to plan, strategize, analyze, and deliver the work that is squarely focused on their goals. So, if you’re interested in tracking and speeding up your brand performance compared to the market, contact us NOW!
If you want to grow your business while following the latest digital marketing trends, contact Progency NOW!