Transformative metrics: A guide to increase brand favorability
December 17, 2020|
6 min. read
“Your personal brand is what people say about you when you are not in the room – remember that. And more importantly, let’s discover why!” – Chris Ducker
Wouldn’t it be nice if you could receive a notification every time a customer had a positive or negative thought about your brand? It would surely help you understand how to adjust to their preferences.
For now, this technology doesn’t exist, but you can still get the next best thing by measuring brand favorability in other ways.
This article will walk you through the ways to measure and then improve your overall brand favorability.
What is brand favorability?
Brand favorability is an in-depth measurement of how a brand is performing, particularly in terms of how well audiences perceive it in different areas. This is often measured by things like emotional closeness, positive or negative changes to the brand and customer relationship and the extent of their brand awareness.
Simple, effective ways to measure brand favorability
The most important part of measuring your brand favorability is to use the right metrics. I’ve come up with the following ways to evaluate favorability optimally.
Remember that none of these measurements will be truly beneficial without first promoting strong brand awareness, which ensures your brand is visible initially.
Evaluate your marketing campaigns
“Start by knowing what you want and who you are, build credibility around it and deliver it online in a compelling way.” – Krista Neher
There are a few things that need to happen in order for you to thoroughly and effectively judge whether or not your marketing campaigns are helping or hurting your brand favorability. First, you need to make sure that audiences are responding favorably to your advertisements. This not only includes liking the content, but also how well they are able to link the ad to your specific brand. The best way to do this is to run tests and take surveys.
As you might have guessed, the next part of evaluating your marketing campaigns is finding out how effective the advertisement was for your brand. Are audiences spreading the message and story of your brand? Are they also now more likely to purchase your products or services?
There are even some tools that offer up-to-date measurements of ongoing marketing campaigns, if you need further assistance in managing this category. For example, some social media sites offer analysis of campaigns directly on their platforms. Facebook’s list tests are one such tool.
Enhance the effort and outreach surrounding your surveys
It’s likely that most brands have some sort of survey system in place to help them determine their brand favorability. However, it’s just as likely that they’re not maximizing the potential of these surveys.
There are different types of surveys, all of which have their own unique benefits. Consider adding some of these to your repertoire if you’re not using them already.
The first approach is to narrow your focus, which creates results that are less likely to extend to unqualified users. The trade-off is naturally a smaller sample size.
The next thing you can do to improve your surveys is extend the outreach of your participants. There are systems in place which make this easier to manage, such as Qualtrics, to guide this step.
Lastly, consider adjusting the different types of questions in the survey, and create a more diverse and comprehensive collection methodology to retrieve more information about your favorability from participants.
Supplement your efforts with brand measurement software tools
Brand measurement systems are designed to give brands a chance to get a more data-driven look at their favorability. It’s ideal for those who need a more in-depth analysis to base their decisions on. It’s also an important tool for anyone who needs to measure brand favorability but is limited in time and resources. Keep in mind your budget when adding these systems so that you maximize the return they have the potential to bring.
It’s also important to find a brand measurement tool that tracks other factors that can feed into brand favorability directly, such as brand awareness and brand image. You’ll most likely want to find a system that is customizable and has the ability to gather a large number of customer responses.
Now that you have some effective ways to measure your brand favorability, let’s look at some methods to help you boost it.
Unique ways to improve brand favorability
The following tips, if followed alongside your data and analysis, will give your brand the best chance to increase its favorability dramatically.
Refer to your metrics regularly
The measurement methodologies I put forth above are meaningless if you don’t use them as a way to increase your brand favorability. In its simplest, the idea is to see where your favorability is lagging behind and try to improve in those areas.
You’ll need to step back and examine all the information and feedback you collected, take a step towards fixing any problems and then once again examine the results. This is definitely not a one-time process, so be prepared to stick with it for the long haul. On top of trying to improve favorability using your measurements, make sure to schedule a re-evaluation of your metrics as well. Without these efforts, you’ll never know if your improvements are working – or what you need to improve next.
Consider your content
Brands often think they have content ‘covered,’ but so many are guilty of missing massive opportunities to improve their brand favorability. There are a few different things you can do to make sure this isn’t a problem for your brand.
First, consider your content outreach. How many different users have legitimate access to your brand’s content? Taking it one step further, how many of these users are the right match for the content you’ve created? In order for your content to be fully absorbed, it has to be read by people who are likely to enjoy it.
Next, think about the type of content you create and determine if it’s as effective as it could be. The most important aspect is your story. Of course, brand story won’t be in every piece of content, but it should be a guiding factor in many pieces that are created.
Revisit your target market research
This is one of the most underutilized strategies in boosting brand favorability. Many brands locate their target market, make a few evaluations and consider the matter settled. This restricts the possibility of improving favorability because it fails to implement new ideas that might be rewarding for audiences.
One way to use your target market research to your advantage is to discover new trends and ideas that might please customers. For example, let’s say that you find out that the majority of your customers would prefer a certain type of product material or service functionality. They might want your brand to move toward a more conscientious direction concerning production of a product. Uncovering this type of information has huge potential for boosting brand favorability.
Find your own unique path to brand favorability
Brands are rightfully concerned with maintaining relationships with customers. Yet, they regularly forget to actively foster their brand favorability.
There’s no reason to disregard such a potentially strong concept, especially with how competitive the world of brands has become. Make sure you have a comprehensive strategy in place.
For more brand-strengthening ideas and strategies, check out my comprehensive branding guide.