Brand Health Tracking- The Road To Consumer Loyalty
Having a strong brand in good health will keep you one step ahead of the competition. What is brand health, how can you measure it and what can you do if your brand is weak?
In essence, brand health is how a company or brand delivers on its promises to customers. The more delighted customers are with the product or service, the better the brand’s health.
Healthy brands have better awareness, are easily recognizable, and have loyal customers. Their positioning allows them to charge more, a footing over their competition.
“In short, the closer a customer experience is to the brand promise, the healthier the brand.” Rob Rush of Deloitte & Touche LLP.
Or, in other words; a healthy brand delivers consistent, positive, and polished experiences for customers, employees, and everyone in-between. Being ‘healthy’ across a range of key metrics and measures is how we assess a brand’s success.
Why Track Brand Health?
While you can measure your company’s financial success using sales figures, measuring your brand health needs a different set of tactics, with the intent being:
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What do people think of your brand? (brand perception and brand reputation)
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How memorable is your brand? (brand recall)
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How do people interact with your brand? (brand attributes)
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How do people buy and use your brand? (brand purchase and brand positioning)
Brand health tracking empowers;
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Effective target audience communication.
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Successful marketing strategy and plan.
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Crisis and negative trends mitigation.
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Keeping an eye on the competition.
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Informed advertising strategies.
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Amplifying brand advocates.
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Achieve brand equity.
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Effective brand performance evaluation.
By continuously measuring brand performance, you will be able to adjust brand and marketing strategies to improve performance.
Looking to track your business's most valuable asset? We’re reachable at info@reelanalytics.net