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How do you measure brand success in diverse markets?

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Brand success is not a one-size-fits-all concept. Different markets have different cultures, preferences, behaviors, and expectations that influence how consumers perceive and interact with your brand. To measure your brand performance across diverse markets, you need to adopt a flexible and holistic approach that considers both quantitative and qualitative indicators. Here are some tips to help you evaluate your brand success in various contexts.

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Elliot Lollis

Affirming goodness in brands and people | Brand Strategist for higher ed institutions | Student Engagement | Design…

1 Define your brand goals and objectives

Before you can measure your brand success, you need to have a clear idea of what you want to achieve with your brand in each market. Your brand goals and objectives should be aligned with your overall business strategy and reflect your value proposition, positioning, and differentiation. You also need to make sure that your brand goals and objectives are SMART: specific, measurable, achievable, relevant, and time-bound. For example, you might want to increase your brand awareness, loyalty, or advocacy in a certain market by a certain percentage within a certain period.

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Daniel Schapira
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Setting clear and measurable objectives is the foundation of any successful brand strategy. Aligning these objectives with your overall business strategy ensures that your brand efforts contribute to your bottom line. Remember that setting these objectives is an ongoing process. Regularly review and adjust your goals as market conditions evolve and be prepared to pivot your brand objectives.

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2 Choose relevant metrics and methods

When determining your brand goals and objectives, you must select the appropriate metrics and methods to track and measure your brand performance. Surveys, interviews, focus groups, and online tools can all be used to measure brand awareness, image, equity, and loyalty. Brand awareness looks at the extent to which consumers recognize and recall your brand name, logo, slogan, or attributes. Brand image measures the set of associations, feelings, and perceptions that consumers have about your brand. Brand equity estimates how much consumers are willing to pay for your brand attributes, while net promoter score measures how likely consumers are to recommend your brand to others. Finally, metrics such as retention rate, churn rate, lifetime value, or share of wallet can be used to measure brand loyalty.

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Elliot Lollis

Affirming goodness in brands and people | Brand Strategist for higher ed institutions | Student Engagement | Design Thinking | Wellbeing and Belonging
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Measuring brand is never straightforward. Before you can measure you have to understand WHAT you’re actually measuring and make sure it aligns with your overall goals. And remember, your goals must be be specific— they need to have numbers attached to them. Once you understand what measurement is important for your brand, create a plan on how to measure it within your budget, how often you’ll measure it and how you plan to use that data. Measuring for the sake of measuring is a waste. How will you use this information to grow?

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3 Compare and contrast across markets

Once you have collected and analyzed your data, you need to compare and contrast your brand performance across different markets. This will help you identify your strengths, weaknesses, opportunities, and threats in each market and adjust your brand strategy accordingly. You can use tools such as SWOT analysis, benchmarking, or gap analysis to compare and contrast your brand performance. For example, you might find that your brand awareness is high in one market but low in another, or that your brand image is positive in one market but negative in another. You can then use these insights to improve your brand communication, distribution, or innovation in each market.

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Elliot Lollis

Affirming goodness in brands and people | Brand Strategist for higher ed institutions | Student Engagement | Design Thinking | Wellbeing and Belonging
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Performing a competitor analysis and/or SEOT analysis allows you to see your opportunities, risks, and unconquered space. Pairing this with your unique values will reveal a sweet spot that allows you to create originality in your brand efforts and truly set yourself apart from the competition.

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4 Consider cultural and contextual factors

Finally, you need to consider the cultural and contextual factors that might affect your brand performance in different markets. These factors include the social, economic, political, legal, and environmental aspects of each market that influence consumer behavior and preferences. For example, you might need to adapt your brand name, logo, slogan, or message to suit the language, values, norms, or beliefs of each market. You might also need to consider the level of competition, regulation, or innovation in each market and how they affect your brand positioning and differentiation. By considering these factors, you can ensure that your brand is relevant, respectful, and responsive to each market.

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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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Elliot Lollis

Affirming goodness in brands and people | Brand Strategist for higher ed institutions | Student Engagement | Design Thinking | Wellbeing and Belonging
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The process of measuring brand never stops. There will always be new ways, new factors, and new reasons to measure. But once you have your goals and objectives beside to stick with them so you can understand your strengths and identify areas of growth opportunities.

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How do you measure brand success in diverse markets?

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3

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5

1 Define your brand goals and objectives

2 Choose relevant metrics and methods

3 Compare and contrast across markets

4 Consider cultural and contextual factors

5 Here’s what else to consider

Brand Strategy

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How do you measure brand success in diverse markets?

1

2

3

4

5

1 Define your brand goals and objectives

2 Choose relevant metrics and methods

3 Compare and contrast across markets

4 Consider cultural and contextual factors

5 Here’s what else to consider

Brand Strategy

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