A Better Way to the Knowledge You Want
Let’s be honest. While many businesses use brand tracking to chart their performance with consumers, few really like the practice. That’s because most organizations struggle to track the right things or to make the results actionable. Executives often feel, rightly enough, that brand tracking doesn’t go far enough. It paints a current picture of your company by analyzing past performance. But that leaves key questions unanswered — like why you performed that way or how to improve.
That’s why we believe in a more comprehensive and dynamic method — one that underpins our Brand Builder approach to brand tracking. We’ve learned that brand tracking is most effective when it’s holistic and nimble and draws from a range of tactics. It allows brands not only to measure where they’ve been, but also to address future performance and growth. More than a report card on traditional marketing and business metrics, holistic brand tracking uncovers and explains the relationship you have with your customers.
Make Sure to Measure the Right Mix
When you measure the right mix of brand health indicators and go deeper into the full experience consumers have with brands, you get a much richer picture of customer relationships. That means:
- Identifying what brand health metrics relate to business success — dependent on industry and context.
- Defining which aspects of the consumer experience to measure, both in the moment and over time.
- Linking to other consumer-focused data sources — especially first-party data. Additional sources of insight well-suited to tracking studies can include social analytics, cultural analysis, and other second- or third-party data that allow a brand to identify and respond quickly to consumer shifts as they happen.
Put It All Together and You Get a Proactive Plan for Action
Consider a grocery chain that has traditionally tracked weekly sales, store traffic, and other standard measures. Holistic brand tracking approaches like Brand Builder go further — discerning details about customer experience and customers’ emotional attitudes towards its stores. A grocer might find that its target consumers increasingly value short checkout lines over all other factors or that they spend more money at stores with the most attractive produce selection. This would point toward building more registers or stocking more fresh goods from local farms.
Get Detailed and Be Data-Driven
When you look into the details that traditional brand tracking misses, the results lead to a data-driven strategy for building future success. This is the power of brand tracking that’s holistic and nimble and multi-modal. More than the “window to the past” that traditional brand tracking provides, you get a 360°, forward-thinking, and actionable view.
We’d love to share more about how our unique expertise and solutions can help your business move forward. Drop us a line here, and we’ll be in touch!