Brand tracking is a method to measure the health of a business brand on a continuous basis. Under this method, brand health is monitored on the basis of consumers’ usage, and the opinion of customers about it.
Brand warmth, momentum, attributes, etc. are some of the aspects that help in forming opinions of the customer about any brand. If you own a business, then you must understand the right to monitor your brand’s health. Regular execution of this activity will enhance the success perspective of a brand.
The objective of Brand Tracking
A strong program for >tracking brand health supplies an authoritative measurement of the progress of the brand at the macro level. It helps in an efficient diagnosis of the changes that deliver improvement in the business.
Ovation MR is a worldwide provider of 1st party data to people who seek solutions that need data for forming informed business decisions. This company is a leader in offering high-end B2B research and customer research, and authentic data across various industries throughout the globe.
Important components of brand tracking
Brand warmth expresses the love and emotional attachment that customers have with respect to any brand. It is a relatively lesser form of rational evaluation as compared to brand metrics like satisfaction ratings, and NPS.
Brand warmth is an important factor that refers to the general sentiment of people in place of individual customer experience. One of the best means to measure a brand ranking is by the use of implicit methods. Scores that a business gets on the basis of this attribute, is less likely to change.
Brand momentum helps in the evaluation of scores of brands at two different points in time. Your brand is the topic of conversations among customers, and brand momentum is a useful “lead indicator” to watch the performance of a brand in terms of mental availability.
Brand tracking is another important characteristic feature that is linked to a brand. It is crucial to select the right aspects of brand image to track. Every brand has got different attributes and unique selling features that give it a competitive edge over its competitors.
It is important for a business to identify its own brand attributes and measure them with the help of implicit research methods.
How is brand tracking done?
Brand tracking is generally performed with the help of usage, attitude studies, or a target market sample. The first step to perform brand tracking is in deciding what brands can be tracked. Ideally, around four to eight brands are identified and followed.
It enables robust samples to achieve while staying in a reasonable budget limit. This procedure involves setting up the survey questions that enable the brands to modify without impacting back data.
Brand tracking is very important to measure the progress of a brand from time to time basis. By understanding all these important components of brand tracking ensures its best implementation in the business.