How to Measure Brand: 10 Key Metrics to Track
Are you wondering how to measure brand awareness, brand equity or even brand loyalty?
With all the complexities of brand, it can be notoriously difficult to measure a brand’s value or recognition in the market.
Thankfully a marketing professor at Harvard, Kevin Keller, put together this ‘Brand Report Card’ (Harvard Business Review, 2000) to help with that task.
Keller states that we can score a brand’s equity, strengths & weaknesses based on the traits outlined below.
How to Measure Brand
These are the ten characteristics that the world’s strongest brands share and brand mangers can use these in a systematic way to grade a brand’s performance.
- Delivers benefits consumers truly desire
- Stays relevant
- Is priced based on consumers’ perception of the brand’s value
- Is consistent
- Fits sensibly into your brand portfolio
- Has an integrated marketing strategy
- Has meanings that managers understand
- Receives sustained support
- Is constantly monitored
- Is properly positioned
These brand measurement metrics are explained further below.
Brand Measurement: 10 Metrics to Score
1. Delivers benefits consumers truly desire
You identify key desires in your market and create an engaging experience for consumers based on them.
2. Stays relevant
Elements of the brand, such as imagery or the type of person who uses it, and the perception of the brand as a whole, are modified to fit the times.
3. Is priced based on consumers’ perception of the brand’s value
The nature of the product in the customer’s mind (premium vs. household staple) influences the price.
4. Is consistent
Marketing communications don’t send conflicting or confusing messages over time.
5. Fits sensibly into your brand portfolio
Brands work logically together, with minimal conflict and overlap in market segments and consumers.
6. Has an integrated marketing strategy
All marketing activities and channels consistently communicate the same message about the brand.
7. Has meanings that managers understand
Managers know consumers’ different perceptions, beliefs, attitudes, and behaviours associated with the brand.
8. Receives sustained support
You consistently invest to ensure consumers have the proper awareness and strong, favourable, and unique associations with the brand in their memory.
9. Is constantly monitored
You use a formal brand equity tracking system, such as in-depth brand audits and ongoing brand-tracking studies.
10. Is properly positioned
It clearly communicates its similarities and differences from competing brands.
The Brand Report Card
You can score and measure your brand using this handy brand report card template, put together by Ian Bernard.
To measure your brand:
- Enter a score between 1 and 7 for each question, where 1 is “Strongly Disagree”, 4 is “Neutral”, and 7 is “Strongly Agree”.
- Add up the scores and use the chart to get your grade.
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- Brand Strategy Courses
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