As marketers, you want to keep an eye on the health of your brand. Brand measurement allows a snapshot of the brand’s position today relative to its competition. Tracking your brand dives into collecting information from consumers on a routine basis regarding performance measures for several key dimensions identified by the brand team.
You want to be able to track the Brand Value Assessment, Brand Health Assessment, and tracking. The Brand Amplitude states that the goal is to provide an ongoing view of the brand’s health and competitive strength to inform decisions for driving business and brand value and growth.
Brand equity measurements are challenging to measure, so the recommended types of measures are the following:
– Market Share
– Market Trend
– Marketing Support
– Price Premium
These measurements will allow a company to look at the psychological and emotional equity. This will provide a perception that will enable tonality statements that will benefit the “how it makes someone feel” and “how they will use your brand.”
Key Considerations for tracking:
In using these tips and skills you will be able to track the equity of your brand.