Brand awareness can change the performance of your company. Find out just what is brand awareness is and how you can measure it in this article.
Picture this: it is a beautiful summer’s day. The sun is shining, the sky is blue, and there is a light breeze allowing for the perfect temperature. It is Friday afternoon and you are sitting at your desk daydreaming about the impending weekend. Suddenly, you are interrupted by a tap on the shoulder. It’s the big boss. She was recently asking what is brand awareness but now she wants to know more about the level of brand awareness the company is currently achieving. She also wants to know how to measure brand awareness and how to increase it - and she would like to know your thoughts on Monday.
Oh no. You are not a brand marketer. You’re not really sure what brand awareness is, let alone how to track it. Is it easier just to resign now rather than admit this to your boss? Hang in there! Latana is here to rescue you. This article will explain what is brand awareness exactly and provide some action points on how you can track it efficiently. Woo!
What is Brand Awareness?
What is brand awareness? Well, brand awareness is one of those “does what it says on the tin” terms. It is basically:
“The extent to which consumers are familiar with the qualities or image of a particular brand of goods or services.”
To put it in simpler terms, you can define brand awareness as follows:
“Brand awareness is how familiar people are with a brand.”
Why is Brand Awareness Important?
Times are changing and you, as a brand, need to be able to adapt. With the mass use of social media these days, it is easy to target customers. And that doesn’t mean your brand simply creates a marketing campaign and pushes it onto your target audience. It also means competing with similar brands also after the same target audience, as well as customer reviews online, which can be positive but also very negative.
See, your once loyal customer base can now be very fickle. They are wide open to other product/service solutions and easily impressionable. Also, they are more likely to listen to their peers about your brand, both positive and negative mentions. These points also stand when searching for new audiences.
How can you rise up against these modern-day challenges? By monitoring your brand awareness, of course! You need to know just how aware your target audience is of your brand. If they aren’t aware of you at all, or at least not to a level that will make you a strong competitor in your industry, you need to change your strategy. Similarly, you need to know how your marketing campaigns are affecting brand awareness. Data from both these aspects of brand awareness will help you develop and maintain a strategy that will build trust and a returning audience and ultimately will encourage repeat purchases.
How to Measure Brand Awareness
This option is quite easy. Log into whatever keyword research tool you are using (in our case, Ahrefs). Checking which keywords people are using to find your website is always interesting but in this case, you want to see how many people are keying in your brand name in order to find your website. Monitor this number over time to see how your brand is performing in terms of brand awareness.
We love Hootsuite for tracking our brand mentions! Another way of monitoring your brand’s level of brand awareness is to find out how many people are talking about you on social media. Tracking mentions is also a good way to see how many people are linking to your site without you asking and how many people are sharing your posts. Track competitor mentions as well to set a benchmark for your brand. If you are more interested in tracking press mentions, Google Alerts is a wonderful free tool.
Specifically, you need to look at direct traffic. This is when people directly type your URL in the search bar to go to your website. This means that they remember your brand and know to go directly to your site when they are looking for the product/service that you offer.
While you are checking the volume of direct traffic, also check the bounce rate for said traffic. The more visitors who like your brand, the longer they should stay on your website. Google Analytics can help you here.
Google, Yelp, Yahoo - get on them all! Review sites are a great way to know exactly what your customers think of you. And, because the information is coming straight from the horse’s mouth, aka real people, you get CREDIBLE information. Review sites will give you insights into many important questions: what do people think of my brand? Do people feel connected with my brand? What kind of experience have people had with my brand?
If there aren’t enough reviews online to garner information, go straight to the source yourself. Surveys are a great way to discover if a certain demographic are aware of your brand. Plus, there is a lot of flexibility with surveys: you can send surveys to a specific target, you can ask the questions you want, and they can be online or offline, whatever suits your product/service best.
Latana takes measuring brand awareness to another level. It has access to more than 40,000 apps and websites. It then leverages these apps and websites to be able to distribute 5 million micro-surveys per month to people living in over 100 countries.
Latana may possibly be the most accurate form of brand tracking there is. It tracks both aided and unaided brand awareness to see real-world impact and the answers garnered come with an unbelievable ~2% margin of error. That means the insights into brand awareness that you get from Latana are trustworthy and actionable. You can use this information to make informed marketing decisions. Plus, you can also use Latana to track brand awareness for competitors!
There you have it - brand awareness. Now you have the answer to two major questions: what is brand awareness and how can I measure it? If not, then we really need to reconsider our life choices. You can meet your boss on Monday with your head held high and a notebook full of easy-to-implement brand awareness measurement strategies. And don’t forget to tell them that brand awareness is a long term KPI. Patience is a virtue here if she wants to optimize it to its full potential.
If you are already using one or more of the resources we mentioned in this article, great! In that case, you might better enjoy our recent article on how to increase brand awareness. If you are at either stage of your brand awareness journey, why not get in contact with us? We’ll have a good ol’ chinwag about how Latana can help with your brand awareness.