You’ve probably heard of brand tracking by now. If you aren’t familiar with the term, “brand tracking” refers to the process of monitoring your brand’s vital signs in real-time by assessing how customers are engaging with your product and what they think of when your company is mentioned.
Most companies and brand managers make the mistake of not keeping thorough records of brand activity, making it impossible to determine the efficacy of any one branding effort. But your company is an exception to that rule. If you know what you’re doing, tracking brands has never been easier.
Fortunately, you have come to the right place because We plan on outlining the most salient aspects of brand tracking that you can use to your advantage.
Boosts your business’s marketing efficiency
Tracking the popularity of your brand might help you narrow down your ideal customers. You may get more personal with your message if you take the time to learn about your audience’s likes, dislikes, and demographics. Keeping an eye on your favourite brands will give you access to a new world of customisation.
Learn how people now perceive the brand.
Strategic actions are planned by leaders who think ahead and use new ideas. Knowing what people in Australia think of your brand with a quick online survey can give you up-to-date information on which to base choices and actions. Data can be gathered in just a few weeks, allowing for quick reactions to crises, large events, or other situations in the media that could affect your business.
Listen well to lead wisely.
To effectively convey your vision as a leader, you must be forthright and honest with your audience. Having an attitude of active listening, however, will equip you to lead in these challenging times confidently. Leaders may deal with uncertainty more calmly if they embrace change and begin or maintain brand-tracking studies. Opportunities can be found in learning about the wants, needs, opinions, and aspirations of your key stakeholders during this special time by actively listening to them.
Determine the Sources of Poor Performance and Take Action to Improve Them
If you keep tabs on your brand’s performance consistently, you can identify and address weak spots far more quickly than if you had no brand health insights or just collected data at random intervals. Measuring the health of your brand regularly allows you to see how people feel about your company at different times, in response to campaigns, or in light of recent events.
By analysing large amounts of data from the past, you may immediately spot trends that indicate a decline in brand popularity, consumer confidence in the brand, and customer loyalty. Next, you can work on tactics to raise awareness of your brand and keep your company at the forefront of the minds of both new and existing clients.
The most effective and analytical method for learning how your brand is doing is through a solid brand strategy and brand tracking. Focus groups are a great way to hear directly from consumers about their experiences and thoughts on your brand. If you do this once a quarter with a small focus group, you could learn something useful that you can put into practice. If you combine this with brand tracking, you’ll get incredible results.