Is It Possible to Objectively Measure Brand Awareness?
Marketers want to quantify their results as much as possible. That often means calculating your return on investment (ROI) by rounding up all the costs associated with your campaign and comparing them to the benefits your campaign returned to you. In some contexts, this is easy; you can calculate how many leads you got, the average value of those leads, and fairly estimate a return.
However, there’s one element to most marketing strategies that’s harder to objectively measure than the others: brand awareness. Is it possible to objectively measure this elusive, yet all-important element of your campaign?
What Is Brand Awareness?
Brand awareness, at its simplest, represents how familiar people are with your brand. You may choose to measure how many people, on average, within a given demographic are aware that your brand exists, or measure how acquainted people are with your brand. For example, you might gauge whether a person is simply familiar with your name and logo, or whether they’re able to name your bestselling products and services.
Brand awareness matters because customers will be more likely to buy from you once they’re more familiar with you. When someone is aware of your brand, your marketing messages will be more memorable and more effective, and they’ll tend to have more positive feelings toward your brand (as long as those aren’t compromised by bad experiences along the way).
Estimating Brand Awareness Value
Before you get too worried about measuring the brand awareness effects of your campaign, it’s a good idea to take inventory of how much a role brand awareness plays in your campaign overall. Campaigns that heavily rely on brand awareness will need to calculate and consider brand awareness as part of their ROI, while some less prioritized campaigns can ignore it entirely.
For example, if your strategy heavily revolves around using microinfluencers to spread the word about your brand, you can consider your campaign to be heavily reliant on brand awareness. If you’re using an email outreach campaign to drive leads to an onsite form, brand awareness doesn’t play as much of a role.
Key Measurement Methods
Now for the critical question—can you measure brand awareness?
The simple answer is yes, though you may need to employ multiple methods to do it. The simplest question you can ask is binary: have you heard of this brand (or have you seen this logo) before? Conducting a survey, through whatever channel you prefer, can help you ballpark how many people are familiar with your brand.
As for the more qualitative aspects of brand awareness, like whether customers associate your brand with positive or negative sentiments, and just how familiar they are with your brand, things get more complicated. In your surveys, you could ask customers a series of more intensive questions about your brand iconography and products, or you could ask them to rate your brand on a scale of 1 to 10. Unfortunately, it’s tough to tie the results of these familiarity surveys to real consumer actions. For those purposes, it’s better to attach a questionnaire to the end of a completed action, like a filled-out form or a checkout.
If you’re interested in calculating the ROI of your marketing campaign more precisely, or if you just need an outlet to design and execute better-personalized marketing experiences, make use of SAP’s marketing and customer experience software. You can improve brand awareness, as well as brand engagement and sales, while making your marketing software interface easier to understand and manage.