Building brand awareness is one of the main goals of every marketer, as once people know and trust your brand, they are far more likely to convert. There are all sorts of tricks and tips for both designing and promoting your brand, but how do you know whether you’ve been successful?
While increased traffic and sales are a good indicator of brand awareness, there are much more in depth ways to measure your success, and find areas of improvement. We’ve explored some of these methods below!
Why is Brand Awareness So Important?
When people are looking for a specific product or service, ideally, your brand would be the first one that popped into their head. For instance, if you were looking to buy some form of sports wear, you’d probably immediately think of Nike, Adidas or Reebok.
Basically, brands matter. People are willing to pay more money for a branded item, because they trust that it will be superior to other options. This may not even be the case – sometimes the cheaper options are on par or outrank the brands in terms of quality, but due to the brand awareness the company has built up, they are respected on the market.
A brand isn’t just about the name or creating an eye-catching logo either. These are important elements of your brand, but it’s also about attracting the right demographic and sending the right message. You need to build a level of trust with your audience, so that they’ll believe yours is the best option. While every company receives some negative feedback, you need the vast majority of your customers to support and promote your brand.
Why Are Detailed Metrics Important?
When it comes to measuring brand awareness, this is not just an exercise you’re performing simply because you think you should. There are various reasons as to why evaluating the success of your brand is important.
Internally, these metrics are something you can present to your board of directors or other shareholders in order to give definitive facts about your brand. If your campaigns have been successful, you’ll be able to demonstrate that the company’s increased brand awareness is due to your efforts and not random chance. You should also be able to justify further spending for marketing campaigns.
And if brand awareness has not increased, and the business is not getting a good ROI, the statistics you’ve gathered can help you find the reasons for this. You can then make changes to your next campaign, and hopefully see better results.
Which Metrics Should You Focus On?
There are various ways to measure brand awareness. While it may not be as straightforward as other measurable metrics, you should be able to get a good indication of how your brand is performing by looking at the following things:
One of the best ways to measure brand awareness is by using Google Analytics. You can easily monitor your traffic sources (click on ‘Acquisition’, then ‘All Traffic’ and finally ‘Sources/Medium’) and therefore know the audience that is best engaging with your brand.
Google Analytics can also show you the amount of direct traffic you get. These are people who have remembered your brand enough to go directly to your website, rather than those who have stumbled across it while searching for similar products.
Your social media statistics are another useful tool to gage how well known your brand is. For instance, you can find out how often posts about your brand are shared or liked, by using an API like SharedCount.
You can track how often your brand is mentioned on other platforms, such as your customers discussing your brand in blog posts and similar channels. The two main services that offer this functionality are Google Alerts and Mention.
It’s essential that you don’t get complacent when it comes to measuring your brand awareness. Although it’s unlikely that the figures will change that quickly, even a small dip could make a big difference in terms of sales.