Building and maintaining a powerful brand requires time, investment, and, above all, data. That’s why more than four out of five companies have conducted brand health measurement research in the past year.
Strong brands command higher prices, boast reduced customer acquisition costs, and enjoy lower customer churn. But conditions in today’s market mean that brands must work harder to maintain their brand strength.
In this report, you will discover the impact of brand health measurement, including:
How poor brand health can harm your company
How brand measurement can be incorporated to support business goals
How to develop a holistic framework for measuring brand health
When to measure your brand’s health
Which metrics to measure for an in-depth view of brand health
Customers are demanding more from their brands.
Supply chain shortages and market inflation have tested buyers’ patience and loyalties. The result? Brand health measurement has never been more critical. In fact, we found that nearly half of customers are willing to switch brands or products.
Your brand is present in every aspect of your business from visuals and messaging to offerings and services. That’s why failing to assess and apply brand health insights into your business strategies has widespread consequences, including:
- New products that don’t align with key customer needs and preferences
- Marketing messaging that alienates customers or feels disconnected from their expectations
- Prospects lost to competitors whose brands are perceived as more valuable
“Brand health measurement research provides a return of 10x the investment“
Your company’s brand has a powerful impact on its success.
Even brands with overall positive sentiment and loyalty can benefit from brand health measurement. It’s easier, after all, to maintain a healthy, strong brand than to repair a damaged one. And the risks associated with a damaged brand are too significant to ignore.
A strong brand is not only valuable, its vital. A weak brand, however, can undermine strategies, cost you customers, and harm your bottom line. To protect your brand, you need to manage the factors that can impact it. And doing so means successfully measuring brand health data.
Brand measurement data evaluates the health of a brand, allowing companies to address declining metrics, gauge the strength of their brand, and uncover opportunities to enhance and leverage their brand value. While measuring brand health is complicated, the rewards are worth it with companies that perform brand research securing a 10x ROI. Without brand health data, companies are blind to how their brand is affecting their business.
Learn why brand health measurement is critical — and how to get started.
Ongoing brand health measurement is a valuable tool for marketers to prove ROI and protect their bottom lines by ensuring their brands continue to generate the best possible outcomes. By identifying strengths and weaknesses, brand health measurement research empowers businesses to seize opportunities, get ahead of any brand risks, and outshine their competitors. That’s why companies are increasing their investment in brand research by 18% next year.
In this guide, we will walk you through the core components of brand health measurement and show how you can leverage brand insights to improve customer satisfaction, optimize products, and increase market share.