Brand health is essentially a set of standardised metrics that are used to measure how your brand is currently performing in the hearts and minds of consumers against your competitors. This is usually done at a category level including all the major and minor brands that play in that space.
Why measure brand health?
Measuring brand health is an important component of understanding how your campaigns and marketing activities are impacting on your brand over time within the context of the competitive landscape.
When to measure?
Ideally you would firstly create a benchmark measure of your brand’s health prior to any significant marketing or product activities such as an ad campaign, a new product launch or a brand identity or positioning relaunch, and then again after the activity. This is commonly referred to as a pre-post measurement.
This will allow you to effectively track the impact of these activities on the brand. Some brands prefer to incorporate brand health as part of an ongoing program measuring annually, every 6 months, quarterly or even more often depending on activity.
Brand health typically covers three broad areas:
Brand funnel metrics to understand the brand’s current performance across several consideration
Brand equity scores to understand the value the brand brings against competitors
Brand image to understand what associations consumers have with the brand that can help with purchase decisions
With a brand tracking survey, we can take your brands’s vitals by asking
How aware are consumers of your brand and whether they’re customers
What they feel about your brand
What they expect from you and your competitors
Whether they plan to purchase your product or service.
Of course a brand tracking survey can also help with advertising campaigns and when you conduct a brand tracking survey in conjunction with your advertising campaigns, you can get a much better sense of the overall impact–and get customer insights to help inform future campaigns. The key is to find out how consumers feel about your brand before you launch your ads–then to reassess after. That way, you can see if (and how) your new brand strategy is affecting your target market.
Additionally, you can set benchmarks to measure your brand health over time.
What we will cover in a brand tracking survey
1. Brand awareness:
Brand awareness is how familiar consumers are with your brand. If, for example, someone is asked to recommend a great running shoe, which brand will they suggest? Will they recommend Nike simply because it’s one of the most well-known athletic brands? You may be missing out on sales if your brand isn’t present in consumers’ minds. Find out where you stand with consumers with a brand awareness survey.
2. Brand usage:
How frequently do consumers purchase your product or service? Are they purchasing from your competitors? If runners recommend Nike to all of their friends–and you’re trying to break into the market–how can you show consumers you’re a better brand? Understanding consumers’ brand usage will help you see where you stand, and enable competitive analysis to help you find the right niche.
3. Brand attributes:
What do consumers think your brand should do for them? Are you meeting their expectations? What benefits and pitfalls do they associate with your product category? A part of the reason consumers may think positively of your brand is not based on convenience or price, but how well you fulfill their needs. Getting consumers’ opinion about your brand attributes can help you understand where you’re doing well, and what you need to improve your message.
4. Purchase intent:
We can uncover whether consumers are planning on purchasing your product or service in the future. Comparing purchase intent before and after an advertising campaign is a great way to see how you’re doing.
Abacus Research can then tie all this together to create a vital insights report.