If a tree falls in a forest and nobody’s around to hear it, does it make a sound? Similarly, if a new product is launched, but the brand doesn’t resonate with consumers, does anybody notice it?
Put simply, no. A brand is measured, mainly, on its success in speaking to, and subsequently winning over, consumers. If the brand is failing then the product it promotes will also fail to reach its targets.
In crowded markets, a company can succeed or fail on the strength of brand alone, especially when there are competitors offering similar products and the main differentiation is the messaging and style of your brand.
So brand is clearly important, but why do we at Attest think tracking your brand is one of the most important consumer intelligence projects you can undertake?
Why is tracking your brand important?
A successful brand both attracts new, and retains existing, customers. Though quantitative metrics such as days to close and repeat custom can be important KPIs for your team, it’s also vitally important to understand the customer motivations driving these metrics in order to take control of the data (the ‘Why’ behind the ‘What’.) And the only way to understand these motivations, is to ask consumers.
It can be disarming to receive real feedback that is contrary to your internal perception of the brand, and a hard thing to get used to, but it’s only by understanding consumer attitudes that you will have the insight required to influence them.
By understanding the consumer attitudes towards your brand, and competitor brands, you can action responsive strategies that places real-life insight in the driving seat.
Understanding consumer attitudes should inform you as to the health of your brand, whether the messaging received is that which you intended, and whether it’s resonating with consumers. But these metrics can’t be viewed in isolation; in order to be fully informed as to the fluid relationship between your brand and the opinions of consumers, and to understand your role within this relationship, the adjustments you make need to be tracked over time.
The healthiest brands operate on a tight full feedback loop, where consumer insights drive change within the brand, which in turn influences consumer opinions, repeating over and over again. Consumer priorities can be fickle, changing constantly, but a feedback loop, informed by regular brand tracking, allows you to stay on top of those changes, and benefit from it rather than losing out to those who are informed.
How do you run a brand tracker?
Now you know that running a brand tracker is a great idea, where should you start?
Running a full brand audit can have huge benefits, including ensuring your branding efforts are directed appropriately to increase ROI by resonating with customers, but this ambitious task can be daunting to undertake. Especially if you’re aiming to recreate this once, twice, four or even more times a year.
Thankfully, at Attest we’ve created a Brand Tracker survey template, which you only need to add a few simple details to in order to run complex surveys that gather insightful data that can be easily analysed.
The metrics recorded within the Brand Tracker survey include:
- Unprompted and prompted brand recognisability compared to other brands in your sector
- Current market share
- The impact of recent media content on your brand health
- Purchase intent and key purchase drivers
- Level of consumer understanding around your key messaging
- Net Promoter Score (NPS)
This comprehensive report allows you to identify the weaknesses within your brand health as a whole, whilst also allowing you to toggle key demographics on and off to see where your brand is well-known and liked and where work is needed.
These metrics are also provided for your closest competitor, to give your data context and unique intelligence.
A Brand Tracker survey works as a leading indicator for the health of your brand based on your recent marketing efforts, and the impact of any media attention (positive or negative).
In addition, there is a wealth of intelligence that can be collected from a building bespoke brand trackers aimed at pre-testing a new strategy, campaign or creatives.
You can use bespoke surveys to test, predict and alter the impact of a new campaign, as well as using your quarterly brand tracker to provide consistent baseline data on the actual results.
Using Attest you can also exclude those who’ve answered a previous brand tracker for your company from answering any future ones. This Exclusive Audience feature ensures that you’re speaking to fresh respondents each time you run a brand tracking survey - meaning they’re not unduly influenced by a previous survey.
How to use the Brand Tracker template
The Attest Brand Tracker survey template requires just a few simple details from you, which are then plotted into a pre-designed survey, crafted to get high quality, actionable data from respondents and fulfil the metrics above.
By entering just 5 details about your brand and your competitors you can have your survey up and running in a matter of minutes, and over a thousand unique responses in just a few hours.
Enter details, for instance…
And our template will automatically design your survey to produce engaged, high quality responses…
We created a comprehensive guide to walk you through your next consumer intelligence project - download the full checklist here to be well on your way to tracking your brand, understanding consumer attitudes and having the tools you need to make beneficial changes to your business strategy.
Learn more about the Attest Brand Tracker survey template by getting in touch with us.