By Alex Birkett
The logic is so simple, it’s almost circular: before someone buys from you, they must know about you.
In ecommerce, where it is often difficult to truly differentiate purely on product features, we often have to fight for mind share and an emotional connection.
The question, though, is how do we actually measure brand awareness? Hint: there are many different, sometimes conflicting methods.
Additionally, can we correlate brand awareness campaigns to actual dollar sign business goals?
We’re going to help you try to answer those questions here. First, let’s get a grasp on the terminology so we’re on the same page.
What is Brand Awareness, Anyway?
Brand awareness is “a measure of a brand’s relative cognitive representation in a given category in relation to its competitors.’
In essence, it is a quantitative measure of how well your brand is known by your target market.
The typical academic methodology used is the “brand recall survey,” in which a group of consumers are asked to name as many brands as they can in a given product category (say, live chat software). If they recall your brand at higher rates than others in that category, you have good brand awareness.
Brand awareness is sometimes confused with other brand metrics such as brand equity—the overall value of a brand and its assets—or brand loyalty—the extent to which your customers would stay with you in the presence of competing offers.
We can really put this into concrete terms when we think of a specific ecommerce product category; let’s say direct to consumer tea sellers. If you were to ask a sample of people shopping for tea which tea brands they could remember, a hypothetical break-down could be that 55% knew The Republic of Tea, 40% knew Teavana, and 25% knew Pique Tea.
However, things get more complicated when you begin to ask questions about the methodology.
How many people do we need to ask? Which people? What if we expanded our product category to “health drinks,” or even just “beverages?” Then Pique Tea is suddenly competing in the same category as Kombucha or Coca-Cola, respectively, which just doesn’t seem right.
These are complicated questions, but there is a short answer: brand awareness as a metric should track as narrowly as possible against your target market. Everything else is noise. Your findings should be actionable, and you should be able to track them over time and against competitors.
As you’ll see below, there are many methods marketers currently use to track brand awareness. I’ll outline them and we can …read more
Read more here:: B2CMarketingInsider