Do you know that brand value can be measured? Brand awareness is a long-standing buzzword in the world of marketing. Every marketer knows what it means, has probably executed some form of brand awareness campaign but few truly know how to measure it. We understand the pains of measuring something as intangible as brand awareness and that’s why we’ve compiled this essential guide for you. Read on to find out more!
1️⃣ Why is measuring brand awareness so important?
In today’s digital age, it has become ever more imperative to increase brand awareness so as to stand out from the clutter and intense competition. A survey done by HubSpot found that 47% of social media users report seeing more spam in their feeds. In addition, as businesses increasingly turn to social media to connect with their customers due to the COVID-19 pandemic, we have started to capture the digital customer footprint for our clients so that they can transcend the noise and strike a chord with their target audience. Brand awareness has also traditionally been pivotal in signalling the health of a business, impacting metrics such as website traffic, social media engagement rate, sales, revenues and market share. Therefore, it is critical to keep abreast of your brand awareness so as to determine the efficacy of your marketing strategy, reaping maximum returns on your marketing investment.
2️⃣ How to measure brand awareness?
Now that we’ve discussed the importance of measuring brand awareness, you must be eager to discover how exactly you can go about doing this. Sit tight and get ready to feast your eyes on the following tips that have worked wonders for many of our clients:
✅ Google ads
With Google being the most visited domain in February 2020 with 74.17 billion hits, it is without a doubt that so many businesses have capitalised on the search engine to reach out to their target audience. Although there isn’t a direct way to track brand awareness, some common metrics used to signal an improvement in brand awareness include: Impressions, clicks and bounce rate. Impressions refers to the number of times your ad is shown, clicks correlates to engagement and bounce rate ensures that your ad is appealing to your target audience. At VK Transformation, we have invested a significant amount of time in planning for our clients’ Google ads campaigns through extensive keywords analysis and crafting a media plan which involves the identification of key metrics across our marketing funnel.
✅ YouTube ads
Brand Lift provides insights on the direct impact of your YouTube ads on perceptions and behaviours throughout the customer journey so that you can optimise your campaigns in a fast and efficient manner. These insights are gathered through conducting surveys and analysing the organic search results on both Google.com and YouTube. By using such rigorous methodologies and a large number of data sets in real-world settings, Brand Lift ensures the provision of accurate and meaningful data.
✅ Google Analytics
Google Analytics is a data analytics tracking tool which is free for businesses and individuals to use. You can use the tool to analyse the sources of your site traffic so as to derive a deeper understanding of the proportion of visitors from direct traffic. This would mean that this group of visitors already had your brand name in mind when they visited your site. Through our Google Analytics analysis, we have helped one of our clients achieve a click through rate (CTR) of 23.82% for their remarketing campaign which remarkably surpasses the industry average CTR of 0.7% for retargeting ads.
✅ Social media reach
An astounding 3.96 billion people around the world use social media - that makes up 58.11% of the world’s population! Chances are, your business has probably leveraged on at least one social media platform to make yourselves known amongst your target audience. Tracking social media reach would thus be a good way to measure brand awareness. This is especially pertinent for Instagram where the likes count are hidden for users. Hence, users no longer feel the need to like posts anymore, rendering engagement rate a less accurate measure of brand awareness today. By using a combination of organic growth strategies, we have helped one of our customers grow their organic reach on Instagram by 42%.
✅ Brand mentions
Google Trends allows you to track online conversations about your brand. By tracking brand mentions, you can uncover useful information such as the locations of the people who are talking about you, what they think of your brand as well as how your competitors fare when benchmarked against your brand. With this data, you will be able to determine the effectiveness of your brand awareness campaigns and/or ways to improve them.
To ascertain if your target audience is aware of your brand, you can administer surveys. Conducting your own surveys allows you the flexibility to choose specific segments to disseminate your survey to, types of questions to ask and mode of reaching out to your target audience (online or offline). Having a clear and comprehensive strategy to execute your survey is paramount. You would also need to select the relevant target audience to distribute your survey to and ensure that your questionnaire is concise, easy to comprehend and optimised for mobile view. Doing these would encourage your respondents to complete your survey and reduce the non-response rate. Through conducting surveys, we have helped one of our clients diagnose the issue of low brand awareness and discovered the ideal branding for the company. From this, we have derived a holistic branding strategy that would appeal to our client’s target audience.
VK Transformation has effectively helped both B2B and B2C brands with our branding framework and programme. Chat with us here: https://www.vktransformation.com/contact-us to learn more about how we can help you accelerate your digital branding, marketing and sales.