What is Brand Health?
Brand health is a term that applies to a suite of metrics that describe the market strength of your brand in the marketplace. There are three components to it.
Provides the fundamentals of brand health, awareness, trial, and adoption (usage). When paired with conversion effectiveness provides a wealth of insightful strategic and tactically marketing data.
What are the underlying motivations that make a brand in a category desirable. Sometimes called drivers research, image research, positioning research, this section tells you what the important decision-making factors are and how your brands rate on them relative to your competitors.
How well your brand performs against the consumer expected outcomes. How satisfied are they with your products?
Why measure brand health?
Brand health measurement reveals a wealth of marketing data and powerful insight that enable you to grow your brands. Unshackled from the dangers of anecdotal evidence myBrandHealth will help you…
- Understand the effectiveness of your marketing activities over time
- Develop strategic and tactical directions with confidence
- Identify potential threats quickly and react to them
- Identify new markets and opportunities and act upon them
- Adjust marketing spend and direction depending on market conditions
- Benchmark against your competitors with confidence
Awareness to Adoption
Tracking the customer journey, from awareness to adoption means measuring the key consumer milestones on that journey. myBrandHealth measures these crucial steps incorporating them into one effective model.
These are the brands that are recalled by consumers without any aid when asked about a category. It indicates a high degree of cognitive processing and is correlated with strong brand equity and brand choice.
The brands that a consumer can remember having seen before when shown the logo or the name. An important measure for impulse products where the point of purchase can be influential.
The brands that a consumer has used before, either by purchasing the brand or by other means such as sharing or sampling. An important measure where the product performance is under investigation by the consumer.
Adoption is a difficult measure for some products. Some categories are driven by the consumer need for variety such as salty snacks, others are easier because they embody personal identification. The myBrandHealth adoption score addresses this issue.
Awareness to Adoption
These measures are calculated metrics. They are obtained not by asking the consumer questions but by using the results from asking the above questions. They are important because they tell us how well our products are performing as they transition to adoption.
This measure is calculated by dividing those who have tried a brand by those who are aware of it. It describes the ability of the brand to convert consumers to try the brand after having become aware of it. High scores here indicate a brand offer that is desirable, that has appeal amongst the target audience.
This measure divides those who have adopted a brand by those who have tried it. It is important because it demonstrates how well the brand has performed in meeting the needs of the customer. If the product underperforms then this score would be low and of concern to a marketer, suggesting a clear marketing response.
The segmentation of your data across demographics is the most important part of the product. All markets segment and your brand’s performance in any or all of these segments is crucial to the decisions you make as an organisation and as a product manager.
The demographics included in the standard myBrandHealth product include; gender, age, occupation status, main grocery buyer, state, education, income, marital status, home composition.Other segmentations can be added on a bespoke basis – separate pricing applies.