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Superior Branding requires ongoing measurement1

Superior Branding requires ongoing measurement

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Table of Contents

In today’s business market customers are at the center. To improve your brand’s overall experience you need to continuously measure the customer data. Keeping an eye out on brand metrics and customer experience at various touchpoints is the only consistent way to grasp the otherwise rapidly changing market. 

Marketers need to make sense of the evolving brand landscape in real-time to manage their branding. The best way to do it is by taking advantage of the data that customers provide. 

Social conversations, reviews, web searches, ratings, and many other sources are the storehouse of customer data. Customers willingly share their preference and their purchase intent every day using online channels. Marketers leverage the reservoir of customer insight, make informed strategies, and apply them to brand management practices.

Brand Awareness Guide

To make the best use of the data left behind by your customers you need to: 

  • Fine-tune your strategy about which data is important for your purpose. You don’t need to waste your time on the noise that excessive data makes. Utilizing the best tools can help you uncover and make sense of the story among the relevant customer data and help you identify actionable insight.
  • Develop a broad and inclusive action plan to harmonize the data sources. You may be gathering customer data from multiple channels but this will create a problem if you are not able to keep a track of it. Creating a systematic action plan can help you harmonize the diverse data and help you in processing through them. 
  • Identify the emotional drivers of your brands that act as your differentiators. You need to understand which emotion of your brand resonates with your customers. Airbnb gives you a space- to belong anywhere and Coca-Cola spreads happiness and aims to make you happy. Figure out which emotion influences your audience and sets you apart from your competitors.

4 Brand Metrics you Must Measure

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Brand Health: helps measure how your brand is performing in the marketplace. It measures awareness, intent to purchase, consideration, etc, to examine the strength and potential of the brand. 

Brand Satisfaction: examines how satisfied your customer base is with your brand, its performance, and its offering. You can monitor customer satisfaction, brand loyalty, and the likelihood of recommendation, to assess brand potential. 

Brand Health and Satisfaction can provide you insight into how customers perceive your brand and the impact of the perception on brand experience. 

Brand Equity: describes how your customers differentiate your brand from your competitors. It helps you understand that unique attribute and personality associated with your brand. This can be used to define how your brand can own a place in your customer’s mind. 

Brand Value: measures the worth of your brand. This metric quantifies your brand in terms of its financial value. This is used for financial reporting, to define the value of the acquisition or the price for licensing.

Three Aspects for Brand Management

With all the tools and technologies present and the gold-mine of customer data available you can make strategies that align with the Brand and lead to its growth. 

Surveys, the traditional way of data collection

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Surveys are the traditional and the oldest way to gather customer insight. You can use the methodology to measure the needs, expectations, preferences, attitudes, and intent of the customers (existing, and prospects). 

Surveys as well have evolved from pen-paper into online surveys (website or mobile app). Online surveys are convenient to fill for the customers and also time-efficient. According to Lightspeed, a research firm, there has been a 16% increase in survey panelists who have completed surveys using a mobile app. The surveys included only extremely relevant questions, interactive and iterative design. 

In this digital world, you have to re-imagine and adjust the usage of surveys. The volume of customer data and the speed of receiving the data can be challenging for survey-based tracking. At this time and age, you need to capture the data quickly by aggregating various data sources. 

You need to ensure that your survey practice brings you meaningful insights. Design a survey that eliminates any redundant questions, is not too long, and yields informative data. Use traditional brand surveys to monitor brand health to gather valuable data.

Social Listening, to check the pulse of brand’s health

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According to Forrester, 56% of adults in the US post content on their social media weekly. Social listening gives access to a wide range of unaccounted data in real-time. It helps a brand learn about its pulse on a granular level. 

Social listening can help marketers to learn and analyze customer’s conversations around their emotional needs, product/ service category, or cultural needs. Social listening looks at the holistic picture of what your customers are saying about you. 

It tracks:

  • brand mentions 
  • customer’s feeling about your brand and your competitors
  • positive or negative emotions directed towards your brand

Social media conversation is a big piece of the puzzle that can help you develop a strategy for your marketing campaigns. Social data offers an extensive read on customer’s emotions and the shift in trends. 

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Neuromarketing, future of data collection

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Neuroscience is a measurement tool that provides insight into how customers perceive and experience their journey with a brand. It helps marketers to understand the core of human behavior. 

Neuroscience offers sophisticated technologies to deep dive and explores the subconscious of your customers. Along with traditional methodology, the data from neuroscience gives you a clear picture of the customer-brand relationship. 

Neuroscience can be used to gain insight into different aspects of your business process – ad testing, package design, product development, customer’s decision. The resulting insight can be used to align your brand with the sentiments that drive customer perception and influence their purchase decision. 

The neuromarketing toolkit offers several beneficial technologies to peek into customer’s brains; eye-tracking heat maps, EEG, and FMRI. 

Brand Examples

Customer Survey

Taco Bell: 

Quality of food and service is the topmost priority for the fast-food franchise Taco Bell. Taco Bell encourages its customers to fill out a survey about their dining experience. The survey is easy and quick to fill, allowing customers to share their views about the quality of food and service. 

The best feature of the survey program is that they print every receipt with survey information. Customers can also take online surveys. Moreover, customers enter into a Sweepstakes by filling out the survey. 

Ford:
Automotive companies have a very competitive marketplace, with so many models and dealers in the industry. To be at the top of the competition the automotive companies need customer feedback about customer experience with their cars, expectations for future cars, and many more. 

Ford utilizes its customer survey program by asking its customers for their insight on all important attributes. This allows them to respond back to their customers about any problem they have with the car and rectify it. Ford utilizes customer expectations to develop plans for innovation on future projects. 

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Social Listening

TOMS: 

Shoe brand, TOMS used data from social listening that led them to a big-time sale. During their research, they discovered a conversation around “My Little Pony”. This led to the idea that customers who favor TOMS are highly interested in My Little Pony. 

Upon discovery, the brand created themed shoes on “My Little Pony”. It took only 48 hours for their new product to be sold out. 

BMW:

The luxury car brand BMW used social listening to find out their customer’s favorite features of their car. 

The brand tracked the sentiment and passion level every year to understand their customer’s perception and opinion about the new features. After comparing the social data, the brand discovered that their laser-guide headlights had high conversation volume. 

Social listening revealed to the luxury car brand that customers of BMW were impressed the most by the car with laser-guide headlight.

Brand Tracking

Neuromarketing

Yahoo: 

Yahoo evaluated the impact of a 60-second TV commercial using Neuromarketing. The ad featured happy people from around the world dancing. It was a part of a branding campaign to bring more users to the Yahoo search engine. 

Yahoo ran tests using the technology of EEG before they decided to air it on TV and online channels. The EEG test for the ad scored well and showed stimulation in the area of the brain responsible for emotional thought and memory. 

PayPal: 

PayPal used neuromarketing tools to influence more e-shoppers to use online payment. The brand uncovered that commercials focusing on speed and convenience are the USPs that triggered higher responses among the audience. 

Customers are digitally enhanced. They know what they want and who can give it to them, moreover, they are not shy to share their thoughts. Leveraging traditional and advanced methodology to measure customer data makes it easy to create strategies that align with your branding management. 

Explore Voxco Survey Software

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+ Omnichannel Survey Software 

+ Online Survey Software 

+ CATI Survey Software 

+ IVR Survey Software 

+ Market Research Tool

+ Customer Experience Tool 

+ Product Experience Software 

+ Enterprise Survey Software 

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