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What are the best brand metrics and tools for your industry?

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Brand metrics and tools are essential for measuring and improving your brand performance in your industry. They help you understand how your brand is perceived, valued, and engaged by your target audience and stakeholders. But how do you choose the best ones for your specific goals and challenges? In this article, we will explore some of the most common and useful brand metrics and tools for different industries and scenarios.

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1 Awareness metrics

Awareness metrics measure how well your brand is recognized and recalled by your potential and existing customers. They include metrics such as brand awareness, brand recall, brand recognition, and brand salience. These metrics help you assess how effective your brand communication and promotion strategies are, and how you can increase your brand visibility and relevance in your market. Some of the tools you can use to measure awareness metrics are surveys, interviews, focus groups, online quizzes, and social media analytics.

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Curt Johnson

Growing Brands Leveraging Marketing, Partnerships, Technology and Salesforce | Brands | Partnerships| Technology | CRM | Content | Communications
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For a deeper dive, look at both unaided and aided awareness. These are vastly different measures using both familiarity of your brand and total recall of your brand as primary metrics. Aided would measure familiarity and if your brand is “on the radar” overall or by market. Unaided would measure if anyone considers you at all in a given subset or industry.

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Rukevwe Toka, MBA

Global Payments & Technology Executive | Champion of Collective Genius | 12 Years Experience Building Iconic Brands, Driving Revenue Growth & Market Leadership at Visa, Nestle, Coca-Cola, Unilever & Heineken
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Brand Health Tracking which is very common in the consumer goods industry as well as among big brands is a tried and tested method for measuring brand awareness and brand associations from a consumer perspective, however, it is expensive. Social media listening on the other hand comes in handy especially for brands with smaller budgets. The popularity of your brand and its trend month on month can be easily tracked through social listening coupled with the sentiments wether positive or negative as well as signals for purchase intent.

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Shella Idrees

Positive Influential ? LinkedInner & Growthster ??? Facilitates Brands with Advanced Deal Techniques and Amplified Lead Acquisition
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Some common brand metrics include brand awareness, brand perception, customer loyalty, and Net Promoter Score (NPS). Tools like Google Analytics, Brandwatch, Mention, and Socialbakers can help track these metrics. However, for the most up-to-date information, I recommend checking industry resources or consulting with experts in the field.

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2 Equity metrics

Equity metrics measure how much your brand is valued and preferred by your customers and stakeholders. They include metrics such as brand equity, brand loyalty, brand advocacy, brand satisfaction, and brand differentiation. These metrics help you evaluate how strong your brand associations and relationships are, and how you can enhance your brand value proposition and competitive advantage. Some of the tools you can use to measure equity metrics are net promoter score, customer lifetime value, customer retention rate, brand personality scale, and conjoint analysis.

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Agnes R.

Product & Brand Marketing I Business Mint 30 under 30
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Would like to highlight the case of Techurate, a leading fintech provider to businesses, which improved its branding equity metrics by 15% through a strategic rebrand communication initiative. a. Consistency in Messaging: A unified and consistent messaging framework was established, ensuring that all communications reinforced the brand's key attributes and values. b. Content and Thought Leadership: Techurate began actively sharing industry insights, thought leadership, and educational content through various channels to position itself as an authority in the field. c. Customer Engagement: They implemented customer engagement programs, including feedback mechanisms and loyalty incentives, to build stronger relationships.

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3 Performance metrics

Performance metrics measure how well your brand delivers on its promises and goals. They include metrics such as brand sales, brand profitability, brand market share, brand growth, and brand innovation. These metrics help you monitor how efficient and effective your brand strategy and execution are, and how you can optimize your brand performance and profitability. Some of the tools you can use to measure performance metrics are sales reports, financial statements, market research, benchmarking, and SWOT analysis.

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4 Impact metrics

Impact metrics measure how much your brand contributes to your social and environmental goals and responsibilities. They include metrics such as brand purpose, brand sustainability, brand ethics, brand reputation, and brand social media engagement. These metrics help you demonstrate how your brand aligns with your mission and vision, and how you can create positive change and value for your stakeholders and society. Some of the tools you can use to measure impact metrics are stakeholder feedback, sustainability reports, corporate social responsibility audits, online reviews, and sentiment analysis.

The best brand metrics and tools for your industry depend on your specific objectives, challenges, opportunities, and resources. You should choose the ones that are relevant, reliable, valid, and actionable for your brand situation. You should also use a balanced mix of quantitative and qualitative data, and compare your results with your competitors and industry standards. By doing so, you can gain valuable insights and feedback to improve your brand performance and impact.

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5 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?

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What are the best brand metrics and tools for your industry?

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1 Awareness metrics

2 Equity metrics

3 Performance metrics

4 Impact metrics

5 Here’s what else to consider

Brand Management

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What are the best brand metrics and tools for your industry?

1

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1 Awareness metrics

2 Equity metrics

3 Performance metrics

4 Impact metrics

5 Here’s what else to consider

Brand Management

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