How brand tracking helps make better marketing decisions

How brand tracking helps make better marketing decisions

Let’s be honest, marketing doesn’t have the easiest solution when it comes to accessing data. Or, at least, data that really matters in the grand scheme of things.

Of course, we have data on the behavior of users of our websites, as well as data collected from our customer journeys, but what about users in your target audiences that you do not have still captured as customers?

How do you know what they want, what they think and what they think of your brand?

For years the answer has been to put together the data you have and ‘use your gut’. But, luckily, we have a better answer for you in 2022: advanced brand tracking software.

Brand tracking software is exactly what it sounds like – software used to track your brand’s performance. It provides precise, statistically significant and fully representative data of your target audience. Plus, it provides a reliable and durable way to monitor your brand’s most important KPIs.

Ultimately, the main goal of brand tracking is to help you make better marketing decisions, informed by nuanced data and trusted consumer insights. But how does it work and what kinds of information should you expect?

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This article will dig deeper into what brand tracking software is and explain why it’s the best option for brands looking to grow. Additionally, provide a few examples of how brand tracking software can improve your marketing strategy.

What is brand tracking software?

Before you can dive into brand tracking software, it would be helpful to understand the concept of “brand tracking”.

In short, brand tracking is the ongoing monitoring of the health of your brand over a period of time. Short and sweet.

It allows you to understand how your target audiences perceive your brand, as well as how they react to your brand communication. As we’re sure you’ve guessed by now, brand tracking Software is the tool you can use to track your brand’s performance.

But advanced brand tracking software provides more than data on consumer response to your own brand – it also allows you to track competing brands, compare your brand’s performance in all markets, identify new ones. audiences to focus on and even determine which ones are struggling.

Essentially, brand tracking software gives you the information you need to make better marketing decisions.

Previously, the brand’s performance has proven to be somewhat difficult to quantify precisely. However, with the right tools at your fingertips, it’s easier than ever to track your brand’s health and performance, and use the data gathered to shape your branding strategy going forward.

So, now that we all understand what brand tracking software is, let’s tackle the next problem: How is it going to help your brand grow?

How will brand tracking software help your brand grow?

Having access to consumption data provided by Brand Tracking will help you in multiple ways.

But since we’re trying to keep it concise, we’ll stick to the two main ways that brand tracking software can help your brand grow.

1. Brand tracking software enables audience segmentation

Tracking what consumers think about your brand as a whole is a great start – it’s always good to have basic metrics of the general population. But you’ll be hard pressed to find a brand that considers everyone be their target audience.

So, to have brand tracking data that really matters, you need to be able to track your unique target audiences. Now, we can’t speak for all brand tracking tools, but high quality ones should enable the creation of personalized target audiences.

Why is this important? Well, personalized audience segmentation allows you to zoom in on the important niches, the ones that are truly of interest to your brand. When you know how your marketing campaigns and activities are received by the consumers that matter, you can refine your campaigns in the future.

This in turn will help you grow your business, as focusing on what drives positive responses from consumers is bound to generate more profits.

For example, let’s say you’re the Brand Manager for a mid-size clothing company and you’ve been tasked with driving brand awareness among your top three target audiences over the next two quarters.

To put yourself in the best position for success, you first need to understand where your brand stands in relation to the KPIs that will measure you: brand awareness, brand consideration, brand associations, and brand preference.

You will also need to access a tool that allows you to track these KPIs for your specific target audiences. With the right brand tracking software, it will be a snap. Next, you’ll need to set up at least three waves of data: one at the very beginning, one at the end of the first quarter, and one at the end of the second.

This way, you can see how your brand’s performance is progressing with your target audiences and more accurately measure growth.

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2. Brand tracking software helps identify which campaigns work (and which don’t)

To be successful in building your brand, you need to know which of your campaigns are winning and which… need to be improved.

Depending on the medium you choose, there are of course certain metrics that you always have access to when running a new campaign. For example, if you run a paid advertising campaign on Google Ads, you will be able to see important metrics like clicks, impressions, conversions, etc.

But a top-notch branding campaign will also bond emotionally with your target audience, increase important brand KPIs, and improve brand loyalty and trust.

So how do you know if those are the boxes checked? You are using brand tracking software.

For example, consider the following scenario: You are the brand manager for a new financial app aimed at female audiences. You’ve run a myriad of different campaigns, some paid, some organic.

So far, you are seeing decent stats from the platforms you use to run said campaigns, but what you really care about is how your target audiences respond to them. After all, it’s great if a campaign gets clicks, but it’s best if you know it connects with your target audience members and improves important brand associations.

For that, you decide to try some brand tracking software. While you want to measure standard KPIs like brand awareness and brand awareness, as a new brand with a specific target audience, you’re especially interested in the brand associations you’ve chosen.

As a brand that tries to accommodate women in the financial world, you want to make sure that certain brand associations are strong. This is why you choose to follow: “accessible”, “informative”, “innovative” and “inclusive”.

In order to see which campaigns are performing well, you schedule a first wave of data to get a referral base, and then another shortly after launching a massive brand awareness campaign.

With this second wave of data, you can see how your target audiences are reacting to your recent branding campaign – that is, whether you are going in the right direction or if you need to make changes.

You need to analyze your data and ask questions such as:

Are the brand associations I have chosen working the way I want them to? Has brand awareness among my target audiences increased? Have there been any significant changes in brand awareness?

These types of questions will help you determine the degree of success (or failure) of a campaign, outside of impressions and clicks.

Final thoughts

When it comes to understanding how your brand is performing, there is a lot to consider. While analyzing the data of the platforms your campaigns run on is always a good idea, to be truly effective you will need more than that.

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Brand tracking software delivers the data you need to make better, more informed marketing decisions, delivering information you can trust. With the ability to tailor your target audiences and tailor your questions to your needs, you can rest assured that you have all the data you need to grow your brand.

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