Measuring the results of a brand awareness campaign is not a piece of cake. There are many variables you have to take into account while measuring brand awareness. After all, measuring how many people could have come across your brand online is not an easy task to complete.
Probably that’s why many marketers consider brand awareness a vanity metric, which has no relation to marketing ROI.
Another marketing school argues that measuring the effects of a brand awareness campaign is one of the most important marketing metrics.
Many consumers make purchasing decisions based on brand recall.
In other words, the more your potential customers are familiar with your brand, the better the chance they will purchase your product or service.
That’s why many brands put so much effort into brand awareness campaigns. L’oreal, a well-known beauty brand, partners with Cannes Film Festival.
Next time, someone wants to buy a beauty product they will likely recall the name they associate with red carpet looks.
That’s the desired effect of a brand awareness campaign.
The question remains — how do you measure the effects of brand awareness campaign?
Measuring brand awareness could be easy, provided you know what to measure and have the right tools!
All you have to do is follow these steps:
Brand awareness campaign metrics
All of the metrics are based on a media monitoring project.
Media listening tools, for example, Brand24, will gather and analyse all publicly available mentions that contain your keywords.
You can test the tool for free for two weeks. You can set up your trial account without providing a credit card number.
Start with setting up a project.
In the first step, choose what would you like to monitor.
Enter the keywords you’d like to monitor. A keyword can be:
- the name of your company
- the name of your product or service
- your branded hashtag
- your campaign-specific hashtag
In the final step, you can specify the language you’d like to monitor.
I understand that it’s a long process. The main goal of the process is to ensure you’ll see relevant results in your dashboard.
We’re all set. Now, let’s get to the bottom of measuring brand awareness campaign!
Set goals to measure brand awareness campaign
Before we delve into the world of brand awareness metrics and tactics, let’s establish some ground rules.
First, we need to know why we want to increase brand awareness.
What is the ultimate goal of your brand awareness campaign?
What are the goals of brand awareness campaign? Think about:
- increasing brand recall
- increasing traffic to your website
- sparking conversations around your brand
- reaching new audiences that might be interested in your product
Your brand awareness campaign metrics and strategy will depend on the goal you want to achieve.
Track the right brand awareness campaign metrics
Once you know what you want to achieve, it’s time to track the right metrics.
Brand awareness metrics will tell you whether your campaign is delivering the results you need.
1. The volume of mentions
That’s a primary metric when it comes to measuring brand awareness campaign.
The volume of mentions tells you how many times your brand has been mentioned online. You can spot seasonal differences in the number of mentions, which will help you adjust your marketing campaigns.
What is the benefit of tracking the volume of brand mentions with the help of a media monitoring tool?
Social media sites notify you once your handle has been used. And you can browse through your branded hashtags.
Many conversations about your brand happen outside your owned channels. If you want to measure the results of a brand awareness campaign, you have to know about every mention regarding your company.
According to Brandwatch, 96% of conversations around your brand happens outside owned channels.
If you want to measure brand awareness, you need to know exactly who and where talks about your brand. Media monitoring project will make sure you’re aware of every mention.
The sentiment is a complementary metric to the volume of mentions. Sentiment will tell you whether the online talk about your brand is positive, negative, or neutral.
A high volume of mentions with prevailing positive sentiment is a sign your brand awareness campaign is yielding desired results.
On the other hand, a combination of negative sentiment and a high volume of mentions could be an indicator of a social media crisis.
I’m happy to say that our sentiment analysis algorithms are cutting-edge.
Moreover, our R&D department is working hard to improve the sentiment analysis algorithm.
3. Twitter reach
When it comes to measuring the results of a brand awareness campaign, you should also take into account the reach of your posts.
Social media reach shows an estimated number of social media users that might have seen your posts. In other words, social media reach indicates how many people could be aware of your brand.
Does it sound a bit enigmatic?
To make things easier, let me explain how we calculate social media reach. We take into account the number of followers of each author that mentions your brand.
In that case, an account that has 100 followers will generate a lower social media reach than an account with 100,000 followers.
The higher the social media reach, the more people could have heard about your brand.
The fact that people have heard about your brand isn’t enough. In an ideal situation, many people will see the posts and engage with the content.
For many, engagement shouldn’t be a part of measuring brand awareness campaign.
Engagement falls a bit behind the scope of measuring the effects of a brand awareness campaign.
However, the levels of engagement (measured in the number of likes, shares, and comments) will tell you how your content resonates with your target audience.
Engagement is an indicator of the effectiveness of your campaign.
Moreover, many social media algorithms take the engagement levels into account while calculating how high on the social media wall your content will rank.
High engagement levels will, ultimately, boost other brand awareness metrics.
5. The share of voice
And finally, the last metric when it comes to measuring brand awareness campaign — the share of voice.
I’d call the share of voice an auxiliary metric when it comes to measuring brand awareness.
In simple terms, the share of voice is a metric telling you how much people talk about your company compared to your competitors.
Does it sound complicated?
It really isn’t!
All you have to do is take into account two metrics:
- the volume of mentions concerning your brand
- the volume of mentions regarding your competitors
Now all you have to do is divide the number of your mentions by the number of mentions regarding your competitors.
How to assess the results of brand awareness campaigns?
You’ve gathered a lot of insightful metrics. Now, you can assess the results of your brand awareness campaign.
The numbers you’ve gathered won’t tell you much on their own.
You have to compare the numbers with other benchmarks.
You need to establish benchmark metrics. There are two ways of doing that.
First, you could monitor the metrics for some time before you start your brand awareness campaign. The metrics will serve as your baseline.
You will be able to assess whether you’re making progress or not.
The second way to establish a baseline is to take a look at your competitors.
Set up a project and follow the same steps as in the beginning. Instead of typing in the keywords related to your business, think about your main competitor.
Analyse their brand awareness to know how you position against other companies.
Is measuring the results of a brand awareness campaign complicated?
Hopefully, you see not only the importance of measuring the results of a brand awareness campaign but also how easy the whole process is.
At first glance, it seems complicated, as you have to examine many different metrics to get the full picture.
The more people can recall your brand, the better your chance of success. And with media monitoring tools that can provide rich data, measuring the effects of your brand awareness campaign is easier than ever.
HANDPICKED RELEVANT CONTENT