Your brand is one of your company’s most valuable assets. That’s why it’s crucial to understand your customers’ perceptions of your brand, your competitors, and the industry. And the best way to achieve this goal is through brand health! With brand health metrics, you’ll be able to understand conversions and strengthen the consumer experience.
Diana Salazar
Jul 8, 21 | 7 min read
The importance of the brand health concept
Reading time: 5 minutes
Your customers are one of the fundamental pillars of your organization and understanding their perception of your brand is critical. If you have been developing marketing strategies for a long time , you already know the importance of identifying changes in industry trends to generate new actions quickly.
With the technological revolution, companies face a dynamic world that forces them to adapt at an accelerat pace to remain competitive in the market.
Given this fast-pac reality, how can companies
detect and measure these changes to stay ahead of the curve? The answer is simple: through brand health .
In this article, we will tell you everything about this branding concept and its main metrics. This way, you will have no doubts about how to apply it in your organization.
In the next paragraphs we will talk about:
What is brand health?
Brand Health Metrics
How to evaluate your results?
What is brand health?
Brand health is a measure of how well a brand list of moldova consumer email delivers on certain attributes of its promise to its customers and how it is perceiv by consumers. Overall, it helps estimate the overall performance of your brand and provides a comparison to your main competitors.
Now you’re probably wondering, what makes a brand healthy ? Well, essentially, three factors:
Brand awareness ;
Brand reputation ;
Share of Voice (SOV).
However, for each organization, there will be different priorities as to what to measure. Some important elements to consider are: customer experience , positive connections, and negative connections or brand weaknesses.
But how can implementing brand health monitoring benefit your business?
Below we analyze some of the main benefits of carrying out this process:
better understand the perception of your consumers and target audience about your brand;
identify your brand’s strengths and weaknesses ;
estimate your overall performance and identify the factors that prevent you from performing better;
establish a benchmark against the competition;
direct your marketing strategies and optimize your expenses ;
detect negative trends and address them quickly.
Brand Health Metrics
Now, let’s see how to put this into practice
using key brand health metrics.
Net Promoter Score (NPS)
It is one of the favorite metrics to estimate customer satisfaction , as it quickly provides an overview of brand perception.
NPS is measur on a scale of 0 to 10 points and is bas on how likely a customer is to recommend your brand. Each consumer is classifi as a detractor, passive or promoter.
This metric is calculat in three simple steps:
Take a survey
Questions focus on the likelihood that the hosting market in spain continues to grow the customer will recommend you or rate your service. They can focus on a specific product or even the customer experience.
Classify the answers
Categorize the responses as detractor, passive or promoter.
Promoters will be satisfi customers who gave a rating of 9 or 10.
Passives are not completely cmo email list satisfi and gave a score between 7 and 8.
Finally, detractors are dissatisfi customers who gave scores less than 6.