How do you benchmark your brand awareness against your competitors?

3 How to measure brand awareness?

Measuring brand awareness is essential for understanding the success of a business, and there are various methods and metrics to do so. Brand recall is the capacity of an audience to name a brand when asked about a product or service category. This can be evaluated through surveys, interviews, or focus groups. Brand recognition is the ability of an audience to identify a brand when presented with a list of options or a visual cue. This can be tested through quizzes, tests, or online tools. Brand search volume is the number of times a brand name or related keywords are searched for on search engines. This indicates the level of interest and curiosity that an audience has about a brand, and can be measured through tools such as Google Trends, Google Keyword Planner, or SEMrush. Lastly, brand mentions are the number of times a brand name or related terms are mentioned on social media, blogs, forums, news, or other online platforms. This indicates the level of buzz and word-of-mouth that a brand generates, and can be measured through tools like Mention, Brandwatch, or Hootsuite. Therefore, it is important to consider the various methods and metrics available to measure brand awareness in order to gain a better understanding of a business's success.

4 How to measure brand perception?

When it comes to measuring brand perception, there are various methods and metrics to consider, depending on your objectives and sources. Brand sentiment, for example, is the tone and emotion that your audience expresses when talking about your brand, such as positive, negative, or neutral, and can be measured through tools like Sentiment Analyzer, Social Mention, or Sprout Social. Brand attributes, on the other hand, are the specific characteristics that your audience associates with your brand, such as quality, innovation, reliability, or fun, and can be measured through surveys, interviews, or focus groups. Lastly, brand associations are the other brands, products, celebrities, or events that your audience links to your brand, such as competitors, partners, endorsers, or sponsors, and can be measured through tools like Brand Association Map, Brand Collage, or Brand Archetype. Ultimately, these metrics can help you determine the level of satisfaction, loyalty, differentiation, value, relevance, and influence that your brand creates.

5 How to use the insights to improve your marketing strategy?

Once you have evaluated your brand awareness and perception, and compared them to your competitors, you can use the insights to refine your marketing strategy. For instance, you can identify your target segments and personas based on your brand recall and recognition, allowing you to better understand their needs, preferences, and behaviors. Additionally, you can define your positioning and differentiation by analyzing your brand attributes and associations, enabling you to emphasize your competitive advantages and create a unique brand identity and voice. Furthermore, you can enhance your customer experience and loyalty by assessing your brand sentiment and feedback, allowing you to identify your strengths and weaknesses in delivering value and satisfaction to your customers, and consequently improve your product or service quality, customer service, or loyalty programs to retain and delight your customers.