Your brand is one of the most valuable assets of your company. Therefore, it is crucial to know the perceptions of your customers about it, your competitors and the industry. And the best way to achieve this goal is through brand health! With the metrics that constitute it, you can understand conversions and strengthen the consumer experience.
Your customers are one of the fundamental pillars of your organization and understanding their perception of your brand is critical. If you have been developing marketing strategies for a long time , you already know the importance of identifying changes in trends in the industry to generate new actions quickly.
With the technological revolution, companies are faced with a dynamic world that forces them to adapt at an accelerated rate to stay competitive in the market.
Faced with this agile reality, how can companies detect and measure these changes to be at the forefront? The answer is simple: through brand health .
In this article, we will tell you all about this concept of Branding and its main metrics. Thus, you will have no doubt about how to apply it in your organization.
In the next few paragraphs we will talk about:
What is brand health?
Brand health metrics
How to evaluate your results?
What is brand health?
Brand health – brand health in English – is a measure that estimates how well a brand fulfills certain attributes of its promise to its customers and how it is perceived by consumers. In general, it helps to estimate the universal performance of your brand and offers a comparison with respect to your main competitors.
Now you are probably wondering what makes a brand healthy ? Well, essentially, three factors:
Brand awareness ( Brand Awareness );
Brand reputation ;
Share of Voice (SOV).
However, for each organization, there will be different priorities as to what you want to measure. Some important elements to consider are: customer experience , positive connections, and negative connections or brand weaknesses.
But how can implementing a brand health tracking benefit you in your company?
Here are some of the main benefits of doing this process:
better understand the perception of your consumers and target audience about your brand;
identify the strengths and weaknesses of your brand;
estimate your overall performance and identify the factors that prevent you from performing better;
establish a benchmark against the competition;
direct your marketing strategies and optimize your expenses ;
spot negative trends and address them quickly.
Brand health metrics
Now yes! Let’s see how to put this into practice using the top brand health metrics.
Net Promoter Score (NPS)
It is one of the favorite metrics to estimate customer satisfaction , as it quickly provides an overview of brand perception.
The NPS is measured on a scale of 0 to 10 points and is based on how likely it is that a customer recommend your brand. Each consumer is classified as a detractor, passive or promoter.
This metric is calculated in three simple steps:
Take a survey
The questions focus on the likelihood that the customer will recommend or rate your service. They can focus on a specific product or even the customer experience.
Classify the responses
Categorize the responses into detractor, passive, or promoter.
Promoters will be satisfied customers who placed a score of 9 or 10.
The liabilities are not fully satisfied and placed a score between 7 and 8.
Finally, the detractors are dissatisfied customers who placed scores below 6.
Measure the results
To calculate the Net Promoter Score you only have to subtract the percentage of detractors from that of promoters. This way you can determine the chances that a client will recommend you
It is suggested that this metric be used in conjunction with other data, since if used individually, it only provides you with your brand’s score and does not provide insights to convert detractors and liabilities into promoters or ambassadors .
Brand health metrics
Now yes! Let’s see how to put this into practice using the top brand health metrics.
Net Promoter Score (NPS)
It is one of the favorite metrics to estimate customer satisfaction , as it quickly provides an overview of brand perception.
The NPS is measured on a scale of 0 to 10 points and is based on how likely it is that a customer recommend your brand. Each consumer is classified as a detractor, passive or promoter.
This metric is calculated in three simple steps:
Take a survey
The questions focus on the likelihood that the customer will recommend or rate your service. They can focus on a specific product or even the customer experience.
Classify the responses
Categorize the responses into detractor, passive, or promoter.
Promoters will be satisfied customers who placed a score of 9 or 10.
The liabilities are not fully satisfied and placed a score between 7 and 8.
Finally, the detractors are dissatisfied customers who placed scores below 6.
Measure the results
To calculate the Net Promoter Score you only have to subtract the percentage of detractors from that of promoters. This way you can determine the chances that a client will recommend you
It is suggested that this metric be used in conjunction with other data, since if used individually, it only provides you with your brand’s score and does not provide insights to convert detractors and liabilities into promoters or ambassadors .
Sentiment analysis
It refers to subjective data analysis, such as transcripts of customer service phone calls and social media posts. All of these can offer valuable information about how your brand is perceived and what are the emotions associated with it .
This analysis is done through natural language processing, however, doing it manually would be costly and impractical. To optimize it, artificial intelligence and machine learning are generally used .
In this way you can extract and analyze the written text and then map the general sentiment that goes from positive to negative.
The result of this analysis is all the data in positive, neutral or negative percentages.
Although this metric will help you understand feelings towards your brand, it does not determine why they are positive or negative, so it will be your job to identify how to improve the customer experience.
For this metric, social listening is crucial.
Brand recognition
Brand awareness or brand recognition helps estimate how much and how a brand is recognized by its consumers . In addition, this indicator helps to analyze whether the company is associated in the consumer’s mind with the products or services it offers.
You can also track the proportion and number of searches for your brand using tools like Google Search Console .
This will allow you to answer questions like:
When do people talk about my brand?
In what countries, states or cities?
Through what channels?
When you estimate the volume of mentions, you can also compare it with that of your competitors with software such as Buzzsumo or SEMRush.
Interviews and focus groups
One of the biggest challenges of measuring the health of your brand is knowing why the metrics are changing and not just estimating the numbers.
For this, it is essential to conduct interviews or work with focus groups – focus groups – to obtain information that enriches the statistics that you obtain through other instruments.
Focus groups are small groups of people, demographically diverse, who are selected to provide insights about a brand, product or service . These are essential to give context to your estimates and you can make them periodically throughout the year.
It is key that there is a follow-up to this strategy, since the needs of the clients are constantly evolving, as well as the way in which the company satisfies their requirements.
How to evaluate your results?
Very good! Up to this point in the process we have already implemented the measurement tools and collected the data , now what can we do with it?
Next, let’s see some basic elements that you need to take into account when analyzing and evaluating your data.
Changes over time
Surveys designed to track the health of your brand should be applied periodically. This will help you analyze changes over time and will help you detect progress or setbacks in your plan.
To evaluate your data, comparing information from past periods will help you measure the success of your marketing strategies.
Competence
When evaluating your results, do so in relation to your competitors as well.
In this way you will know in what aspects they are surpassing you and what are the perceptions associated with their brand and yours. This will help you estimate the health of your brand and how it is performing over time.
Customer segmentation
Classify the information obtained according to customer segments . This will allow you to better understand how your brand performs with your target audience.
Analyzing this information by segment will enrich your marketing strategy and help you understand if you are gaining ground with a particular group.
Other ways of analyzing this data, which may be convenient in certain cases, are:
Driver analysis or analysis of drivers
It is important to determine the consumer experience. Analyze the relationship between drivers and consumer behavior. It can help you estimate which characteristics or perceptions of your brand are most important for organizational metrics.
Perceptual mapping or positioning map
This graph will allow you to identify the position of your brand against your competitors with respect to its most important attributes. It is recommended to build complex models that are not limited to two attributes.
Open question analysis
This is only recommended in case a percentage greater than 15% decided to write in the open response box of your survey. It can provide relevant insights about the brand and to improve the design of future questionnaires.
Conclution
We have reached the end! Now you know the importance of measuring the health of your brand and what are the main metrics to carry it out.
Remember that this research should complement existing strategies and not work on its own. As the monitoring of these advances, you will be able to analyze the data more effectively, creating more advanced evaluation techniques and thus improving the experience of your consumers.
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