Brand strategy expert Jenni Romaniuk discusses the importance of brand health and brand tracking using survey tools, highlighting the different metrics and common pitfalls. She emphasizes the significance of starting early with brand tracking and offers alternative metrics for measuring brand health. The conversation also touches on the potential challenges of relying on self-reported data and the upcoming projects and research at the Earnberg Bass Institute.
Brand health tracking helps brands understand consumer perceptions and identify areas of improvement.
Metrics like mental market share and share of mind provide valuable insights for tracking brand health.
Deep dives
The Importance of Brand Health Tracking
Brand health tracking provides valuable insights into consumer perceptions and the competitive landscape. It allows brands to understand their performance in the buyer's mind and identify areas of improvement.
Defining Brand Health and Category Entry Points
Brand health primarily focuses on the thoughts, feelings, and memories people have about a brand. Category entry points are crucial markers that reflect a brand's relevance and presence in the market.
Metrics for Brand Health Tracking
Metrics such as mental market share, network size, single mental penetration, and share of mind can provide meaningful insights for tracking brand health. The relevance of these metrics can vary depending on the size and goals of the brand.
Getting Started with Brand Tracking
Small brands can begin tracking brand health by focusing on metrics like prompted brand awareness and specific category entry points. It is important to start early and gradually scale tracking efforts as resources allow.
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