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How To Measure Brand Awareness: A Guide For Marketers

How to Measure Brand Awareness

How to Measure Brand Awareness – If you’re a marketer, you know how crucial it is to measure your brand’s awareness.

Understanding how well your target audience knows your brand can help you make informed decisions about your marketing strategy, from creating campaigns to choosing the right channels to promote your brand.

However, measuring brand awareness can be tricky, and it requires the right tools and techniques to get it right. In this article, we’ll guide you through measuring brand awareness and provide tips and tricks to do it effectively.

Introduction

A brand’s awareness can be measured by how well it is known by your target audience.

It encompasses both brand recognition, which refers to the ability of your audience to identify your brand from its visual elements, such as logos or packaging, and brand recall.

Which refers to the ability of your audience to remember your brand from memory cues, such as brand names or slogans.

Measuring brand awareness is essential for businesses of all sizes and industries. It helps you determine your marketing efforts’ effectiveness and identify improvement areas.

Moreover, it can help you track your brand’s growth and adjust your strategy accordingly.

What is Brand Awareness?

Brand awareness can be defined as your target audience’s familiarity with your brand. It’s the level of recognition and recall that your audience has for your brand.

It’s an essential metric for measuring the effectiveness of your marketing efforts and understanding how well your brand resonates with your target audi ence.

Why is Brand Awareness Important?

Why Brand Awareness Is Important (What To Do If You Can't Afford It)

Brand awareness is critical for building a successful brand. It’s the foundation of your brand’s reputation, and it affects how your audience perceives your brand.

Strong brand awareness can lead to increased sales, customer loyalty, and a competitive advantage in the market.

Measuring your brand awareness can help you:

  • Identify gaps in your brand awareness
  • Determine the effectiveness of your marketing campaigns
  • Measure the success of your brand-building efforts
  • Monitor your brand’s growth over time
  • Identify areas for improvement in your marketing strategy

How to Measure Brand Awareness?

Measuring brand awareness can be challenging, but there are several methods you can use to do it effectively. Here are some of the most effective ways to measure brand awareness:

Surveys

Surveys are one of the most popular and effective methods of measuring brand awareness.

You can conduct surveys to measure your audience’s familiarity with your brand, their perceptions of it, and their likelihood of purchasing from it.

Depending on your audience and marketing goals, you can use both online and offline surveys.

Social Media Metrics

Social media is a powerful tool for measuring brand awareness. You can use social media metrics, such as reach, impressions, and engagement, to track how your brand is performing on social media.

Moreover, you can use social media listening tools to monitor your brand’s mentions, sentiment, and share of voice.

Website Analytics

Your website is another valuable source of data for measuring brand awareness.

You can use website analytics tools, such as Google Analytics, to track how many visitors are coming to your site, how long they stay, and what pages they visit.

Moreover, you can track your traffic sources to determine how well your marketing efforts drive traffic to your website.

Search Engine Data

Search engine data can provide valuable insights into your brand’s awareness.

You can use search engine data to track how many people are searching for your brand or related keywords, how high your brand is ranking on search engines, and what types of searches are leading people to your website.

Sales and Customer Data

Your sales and customer data can also be a valuable source of information for measuring brand awareness.

You can track the number of sales and the demographics of your customers to determine how well your brand resonates with your target audience.

Best Practices for Measuring Brand Awareness

Brand Awareness: How to Measure It the Right Way - CoSchedule

To measure your brand awareness effectively, here are some best practices to keep in mind:

Use Multiple Methods

Measuring brand awareness using multiple methods can help you get a more comprehensive understanding of your brand’s awareness.

Use a combination of surveys, social media metrics, website analytics, search engine data, and sales and customer data to get a more accurate picture of your brand’s awareness.

Keep Consistent Metrics

When measuring brand awareness, it’s essential to keep consistent metrics across all methods. Consistent metrics can help you compare data across different methods and make more informed decisions.

Segment Your Audience

Segmenting your audience can help you measure brand awareness more effectively.

Divide your audience into different demographics or psychographics to determine how well your brand resonates with different groups of people.

Regularly Monitor and Adjust

Measuring brand awareness is an ongoing process.

Regularly monitor your metrics and adjust your marketing strategy accordingly. Use your data to identify areas for improvement and adjust your campaigns to better resonate with your target audience.

Conclusion

How to Build Brand Awareness and Why it's so Important

Measuring brand awareness is crucial for businesses of all sizes and industries.

By measuring your brand‘s awareness, you can make informed decisions about your marketing strategy and improve your brand’s reputation.

Use the methods and best practices outlined in this article to measure your brand’s awareness effectively and adjust your marketing efforts accordingly.

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PepsiCo Reduces Revenue Projections As North American Snacks And Key International Markets Underperform.

Pepsi

(VOR News) – In the third quarter of this year, Pepsi’s net income was $2.93 billion, which is equivalent to $2.13 per share. This was attributed to the company.

This is in stark contrast to net income of $3.09 billion, which is equivalent to $2.24 per share, during the same period in the previous year. The company’s earnings per share were $2.31 when expenses were excluded.

Net sales decreased by 0.6%, totaling $23.32 billion. Organic sales increased by 1.3% during the quarter when the effects of acquisitions, divestitures, and currency changes are excluded.

Pepsi’s beverage sales fell this quarter.

The most recent report indicates that the beverage and food sectors of the organization experienced a 2% decline in volume. Consumers of all income levels are demonstrating a change in their purchasing habits, as indicated by CEOs’ statements from the previous quarter.

Pepsi’s entire volume was adversely affected by the lackluster demand they encountered in North America. An increasing number of Americans are becoming more frugal, reducing the number of snacks they ingest, and reducing the number of times they purchase at convenience stores.

Furthermore, Laguarta observed that the increase in sales was partially attributed to the election that occurred in Mexico during the month of June.

The most significant decrease in volume was experienced by Quaker Foods North America, which was 13%. In December, the company announced its initial recall in response to a potential salmonella infection.

Due to the probability of an illness, the recall was extended in January. Pepsi officially closed a plant that was implicated in the recalls in June, despite the fact that manufacturing had already been halted.

Jamie Caulfield, the Chief Financial Officer of Pepsi and Laguarta, has indicated that the recalls are beginning to have a lessening effect.

Frito-Lay experienced a 1.5% decline in volume in North America. The company has been striving to improve the value it offers to consumers and the accessibility of its snack line, which includes SunChips, Cheetos, and Stacy’s pita chips, in the retail establishments where it is sold.

Despite the fact that the category as a whole has slowed down in comparison to the results of previous years, the level of activity within the division is progressively increasing.

Pepsi executives issued a statement in which they stated that “Salty and savory snacks have underperformed year-to-date after outperforming packaged food categories in previous years.”

Pepsi will spend more on Doritos and Tostitos in the fall and winter before football season.

The company is currently promoting incentive packets for Tostitos and Ruffles, which contain twenty percent more chips than the standard package.

Pepsi is expanding its product line in order to more effectively target individuals who are health-conscious. The business announced its intention to acquire Siete Foods for a total of $1.2 billion approximately one week ago. The restaurant serves Mexican-American cuisine, which is typically modified to meet the dietary needs of a diverse clientele.

The beverage segment of Pepsi in North America experienced a three percent decrease in volume. Despite the fact that the demand for energy drinks, such as Pepsi’s Rockstar, has decreased as a result of consumers visiting convenience stores, the sales of well-known brands such as Gatorade and Pepsi have seen an increase throughout the quarter.

Laguarta expressed his opinion to the analysts during the company’s conference call, asserting, “I am of the opinion that it is a component of the economic cycle that we are currently experiencing, and that it will reverse itself in the future, once consumers feel better.”

Additionally, it has been noted that the food and beverage markets of South Asia, the Middle East, Latin America, and Africa have experienced a decline in sales volume. The company cut its forecast for organic revenue for the entire year on Tuesday due to the business’s second consecutive quarter of lower-than-anticipated sales.

The company’s performance during the quarter was adversely affected by the Quaker Foods North America recalls, the decrease in demand in the United States, and the interruptions that occurred in specific international markets, as per the statements made by Chief Executive Officer Ramon Laguarta.

Pepsi has revised its forecast for organic sales in 2024, shifting from a 4% growth rate to a low single-digit growth rate. The company reiterated its expectation that the core constant currency profitability per share will increase by a minimum of 8% in comparison to the previous year.

The company’s shares declined by less than one percent during premarket trading. The following discrepancies between the company’s report and the projections of Wall Street were identified by LSEG in a survey of analysts:

SOURCE: CNBC

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Old National Bank And Infosys Broaden Their Strategic Partnership.

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Old National Bank And Infosys Broaden Their Strategic Partnership.

Infosys

(VOR News) – Old National Bank, a commercial bank with its headquarters in the Midwest, and Infosys, a firm that specializes in information technology, have recently entered into a strategic expansion of their link, which has been in place for the past four years.

This expansion is more likely to take place sooner rather than later, with the likelihood being higher.

For the purpose of making it possible for Old National Bank to make use of the services, solutions, and platforms that are offered by Infosys, the objective of this expansion is to make it possible for the bank to transform its operations and processes through the application of automation and GenAI, as well as to change significant business areas.

This lets the bank leverage Infosys’ services, solutions, and platforms.

Old National Bank Chairman and CEO Jim Ryan said, “At Old National, we are committed to creating exceptional experiences for both our customers and our fellow employees.”

This statement is applicable to Old National Bank. Infosys is carefully managing the business process innovations that it is putting us through, putting a strong emphasis on efficiency and value growth throughout the process to ensure that it is carried out efficiently.

This is a routine occurrence throughout the entire operation. Because of Infosys’ dedication to our development and success, we are incredibly appreciative of the assistance they have provided.

Old National has been receiving assistance from Infosys in the process of updating its digital environment since the year 2020, according to the aforementioned company.

Ever since that time, the company has been providing assistance. The provision of this assistance has been accomplished through the utilization of a model that is not only powerful but also capable of functioning on its own power.

Infosys currently ranks Old National thirty-first out of the top thirty US banks.

This ranking is based on the fact that Old National is the nation’s largest banking corporation.

It is estimated that the total value of the company’s assets is approximately fifty-three billion dollars, while the assets that are currently being managed by the organization are valued at thirty billion dollars.

Dennis Gada, the Executive Vice President and Global Head of Banking and Financial Services, stated that “Old National Bank and Infosys possess a robust cultural and strategic alignment in the development, management, and enhancement of enterprise-scale solutions to transform the bank’s operations and facilitate growth.”

This remark referenced the exceptional cultural and strategic synergy between the two organizations. Dennis Gada is the one who asserted this claim. This was articulated explicitly concerning the exceptional cultural congruence and strategy alignment of the two organizations.

We are pleased to announce that the implementation of Infosys Topaz will substantially expedite the transformation of Old National Bank’s business processes and customer service protocols. We are exceedingly enthusiastic about this matter. We are quite thrilled about this specific component of the scenario.

Medium-sized banks operating regionally will continue to benefit from our substantial expertise in the sector, technology, and operations. This specific market segment of Infosys will persist in benefiting from our extensive experience. This phenomenon will enable this market sector to sustain substantial growth and efficiency benefits.

SOURCE: THBL

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American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

water

The largest regulated water and wastewater utility company in the United States stated Monday that it had been the target of a cyberattack, forcing the company to halt invoicing to consumers.

water

American Water, The Largest Water Utility In US, Is Targeted By A Cyberattack

American Water, based in New Jersey and serving over 14 million people in 14 states and 18 military facilities, said it learned of the unauthorized activity on Thursday and quickly took precautions, including shutting down certain systems. The business does not believe the attack had an impact on its facilities or operations and said employees were working “around the clock” to determine the origin and scale of the attack.

water

The corporation stated that it has alerted legal enforcement and is cooperating with them. It also stated that consumers will not be charged late fees while its systems are unavailable.

According to their website, American Water operates over 500 water and wastewater systems in around 1,700 communities across California, Georgia, Hawaii, Illinois, Indiana, Iowa, Kentucky, Maryland, Missouri, New Jersey, Pennsylvania, Tennessee, Virginia, and West Virginia.

SOURCE | AP

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