Brand awareness studies are a relatively quick way to check on your brand’s position with consumers in relation to your competition. Done right, these important questions allow you to adapt your marketing strategy to changing market conditions quickly and accurately.
To run a successful brand awareness study you need to be sure you’re making the right measurements, performing the studies in the most cost-effective way possible, and making adjustments to your study as time goes on.
Four Vital Measurements in a Brand Awareness Study
Each brand faces unique challenges that they will need to address in their brand awareness studies — new competition or a product recall, for example — but addressing these four pieces will give you an accurate picture of how your brand stands.
1. General Brand Awareness
This is often tracked through measures of brand recall and recognition. A brand that is easily recalled in certain situations is more likely to be considered for purchase than one that is only recognized when the consumer is prompted.
2. Brand Usage
This can be measured through recency (how recently a consumer engaged with your product), the frequency of usage, and total spending in the brand and product categories. These brand tracking measures reveal insights about consumer shopping behavior and preferences. They are also indicators of market share and share of wallet.
3. Brand Attitudes and Perceptions
These are usually captured through questions related to brand image and associations that consumers develop based on their experience with the brand and exposure to its message through PR, advertising, and promotional programs.
Brand associations include beliefs about product and non-product related attributes and benefits, as well as perceptions related to price and value.
Some brand associations are stronger than others, are more easily recalled, and are appealing enough that they become a driver in a consumer’s decision to buy a brand.
4. Purchase Intent
Measures of likelihood to buy a brand or switch to a competitor are also indicators of brand health that should be part of brand awareness studies. These questions should be asked in the context of a specific product or brand, the reason for the purchase, time, channel, price, and other relevant factors in the purchasing decision.
Without these elements, the questions cannot be predictive of actual purchase behavior.
Save Money By Only Tracking Brand Awareness When You Need To
Brand awareness studies usually involve collecting quantitative data (e.g. number of purchases, the total amount spent, etc.) from consumers on a regular basis. One way to do this is to continuously collect information.
While this provides a more representative picture of how the brand stands and allows us to control for unusual marketing activities, it’s also very expensive and time-consuming.
Fortunately, tracking at specific time intervals (e.g. monthly, quarterly, annually) can be equally effective while saving your valuable budget.
When determining the frequency at which you should collect data for brand tracking, consider these factors:
- Frequency of product purchase. Long purchase cycles can be tracked less frequently.
- Marketing activity in the product category. Product categories with a lot of marketing activity should be monitored more often.
- Level of competition. Highly competitive categories in which new products and competitors are constantly trying to break in should be tracked as frequently as possible.
- Stability of brand associations. Brand with an established image that doesn’t change much over time can be tracked less often.
When to Revise and What to Track
Although for comparison purposes brand tracking measures tend to stay the same over time, they should be revised from time to time to assess their reliability and sensibility.
These regular reviews ensure that they don’t become unable to capture important shifts in the market due to changes in sociodemographic trends, competitive landscape, and economic macro trends.
Another issue with brand awareness measurements is defining what constitutes the desirable level of specific metrics.
Is a 70% level of awareness good enough? It depends on the product category and the competitive environment.
In low-involvement product categories and those with many competitors, it may be difficult to get very high levels of awareness and strong brand associations, so “good” levels for any metric differ across industries and product categories.
Finally, each brand awareness study should be customized to capture the brand associations that contribute the most to brand equity and the marketing activities supporting the brand. The goal is to identify key drivers that make a difference on consumers’ brand choice and purchase behavior and develop marketing tactics that lead to brand growth.
By tracking the right elements, managing the frequency with which you perform studies, and making adjustments to your tracking over time, you’ll be able to use brand awareness studies to steer your marketing effectively.