How can you measure brand performance and equity?

1 Brand audit

A brand audit is a comprehensive analysis of your brand's current situation, including its identity, positioning, value proposition, messaging, communication, and differentiation. It helps you evaluate how well your brand aligns with your business goals, customer needs, and market trends. A brand audit typically involves reviewing your internal and external data, such as your mission, vision, values, culture, products, services, competitors, customers, feedback, reviews, and metrics. You can use various frameworks and tools to conduct a brand audit, such as SWOT analysis, brand pyramid, brand archetype, brand personality, and brand voice.

2 Brand awareness

Brand awareness is the extent to which your target audience recognizes and recalls your brand name, logo, slogan, or other distinctive elements. It reflects how familiar and memorable your brand is among your potential and existing customers. Brand awareness can be measured by various methods, such as surveys, interviews, focus groups, social media mentions, search engine queries, and website traffic. You can use different metrics to quantify your brand awareness, such as brand recall, brand recognition, aided awareness, unaided awareness, and top-of-mind awareness.

3 Brand loyalty

Brand loyalty is the degree to which your customers prefer and repeat purchase your brand over other alternatives. It reflects how satisfied and committed your customers are to your brand and how likely they are to recommend it to others. Brand loyalty can be measured by various methods, such as surveys, interviews, net promoter score, customer retention rate, customer lifetime value, and repurchase rate. You can use different metrics to quantify your brand loyalty, such as loyalty segments, loyalty ladder, loyalty matrix, and loyalty index.

4 Brand associations

Brand associations are the attributes, benefits, emotions, and experiences that your customers link to your brand in their minds. They reflect how your customers perceive and differentiate your brand from others and how they relate to it on a personal and emotional level. Brand associations can be measured by various methods, such as surveys, interviews, focus groups, word association tests, projective techniques, and semantic differential scales. You can use different metrics to quantify your brand associations, such as brand image, brand personality, brand essence, brand equity, and brand value.

5 Brand performance

Brand performance is the extent to which your brand delivers on its promises and meets or exceeds your customers' expectations. It reflects how well your brand fulfills its functional and emotional benefits and how it creates value for your customers and your business. Brand performance can be measured by various methods, such as surveys, interviews, feedback, reviews, ratings, testimonials, and case studies. You can use different metrics to quantify your brand performance, such as customer satisfaction, customer loyalty, customer advocacy, customer engagement, and customer referrals.

6 Brand equity

Brand equity is the overall value of your brand in the market and in the minds of your customers. It reflects how much your brand contributes to your business outcomes, such as sales, profits, market share, and growth. Brand equity can be measured by various methods, such as financial analysis, customer analysis, competitor analysis, and market analysis. You can use different metrics to quantify your brand equity, such as brand valuation, brand premium, brand strength, brand relevance, and brand differentiation.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?