4 Ways to Measure Brand Awareness
Brand awareness is the foundation of any successful marketing strategy.
This article will go over how to measure brand awareness, giving you the tools you need to understand and improve your brand's market visibility.
How to Measure Brand Awareness
To measure brand awareness: use brand recall, brand recognition, brand favorability, and brand engagement.
1. Brand Recall
Consumers' capacity to remember your brand without prompting is known as brand recall.
It serves as a real test of how consumers will remember your brand.
For instance, if a customer can recall your brand when asked about a specific product category, you've achieved strong brand recall.
According to a study, around 60% of global consumers prefer to purchase a new product from a brand they recall rather than change to a new brand.
To measure this, conduct surveys asking consumers to list brands in your industry. If your brand is frequently mentioned, your brand recall is high.
2. Brand Recognition
Brand recognition refers to the ability of consumers to identify your brand based on visual or auditory cues.
For example, McDonald's golden arches or Intel's distinctive chime are instantly recognizable.
To measure brand recognition, use methods like surveys or quizzes with visual or auditory prompts related to your brand.
According to a Harvard Business Review study, consumers believed that airlines with names they recognized were safer than unidentified carriers.
3. Brand Favorability
Brand favorability is the positive perception and preference for your brand over others.
For example, if consumers prefer Nike over other sports brands due to its quality and design, Nike has high brand favorability.
To measure this, use surveys asking consumers to rate their preference for your brand over competitors.
Globally, 94% of consumers said it is important that the companies they engage with have a strong purpose.
Additionally, a survey found that more than 85% of consumers would reduce or stop purchasing from a brand if it advertised hate speech, malware, or illegal content.
4. Brand Engagement
Brand engagement is the level of interaction consumers have with your brand.
A high number of likes, shares, and comments on Coca-Cola's social media posts, for example, indicates high brand engagement.
To measure this, track metrics like social media engagement, website interactions, and email open rates.
According to a Gallup study, fully engaged customers outperform the average customer by 23% in terms of share of wallet, profitability, revenue, and relationship growth.
Alternative Ways To Measure Brand Awareness
1. Word-of-mouth Marketing
Word-of-mouth marketing happens when customers share positive experiences about your brand, thereby influencing others who may become future customers.
For example, if a customer recommends Tesla to their friends due to its innovative features, that's effective word-of-mouth marketing.
To measure this, use Net Promoter Score (NPS) surveys to ask how likely customers are to recommend your brand.
According to Nielsen, 88% of global respondents trust recommendations from people they know more than any other channel.
2. Content Marketing
Content marketing involves creating valuable content to attract and engage your audience.
For example, HubSpot's informative blogs on marketing strategies increase its brand awareness among marketers.
To measure this, track metrics like blog views, content downloads, and time spent on your content.
According to a recent survey, 88% of marketers have successfully reached their goals of creating brand awareness and building credibility and trust through content marketing.
3. Event Marketing
Event marketing involves hosting or participating in events to increase brand awareness.
For example, Apple's product launch events generate global awareness for its new products.
To measure this, track event attendance, social media mentions during the event, and leads or sales generated from the event.
According to the Event Marketing Institute, 74% of event attendees have a more positive opinion of the company, brand, product, or service being promoted after the event.
How to Measure Brand Awareness: The Path to Success
Understanding and measuring brand awareness is not just about knowing how many people recognize your logo or recall your name.
It's about gauging the strength of your brand's presence in the consumer's mind and the market at large.
You can effectively measure brand awareness through the following methods:
Brand recall
Brand recognition
Brand favorability
Brand engagement
Insights from these methods will allow you to fine-tune your strategies and steer your brand towards success.
