List of salient metrics and KPIs to measure brand performance

By crux creative solutions

July 28, 2020

It is not an uncommon practise for big and otherwise well-managed brands to measure metrics that are not of much relevance and thus ignoring the ones that actually matter.

Measuring your brand’s performance cannot be ultimately relied upon by the number of likes, comments and shares or even the amount of traffic on your website. It is more about the understanding about how your target audience, client and consumers make their purchasing decision and what should be done to make you their number one brand choice.

Today, as a leading branding agency in Delhi NCR, we will take you through the most useful quantitative brand metrics:

Stage 1-

AWARENESS

Is your brand embossed on your potential customers minds?

This feature is also termed as – Top of mind or TOM brand awareness. For example- if you are selling ‘Salt’- which brand or how many brands comes to customer’s mind?

The percentage of respondents that will mention the name of your brand first or unprompted gives your brand TOM awareness. Let us assume it’s 20%.

The percentage of people who mention your brand’s name unprompted but you are not necessarily number one on their list, it will be known as spontaneous awareness. Let us assume it is 60%.

So, the total number of people who recognise your brand will be known as prompted awareness. Which in this case is 80%.

The brand awareness is not an exclusively exhaustive metric on its own, it is there to determine how many people associate with your brand. But this one is important. You must have seen these kinds of surveys on your YouTube ads several times.

Stage 2-

FAMILIARITY

Does your brand come to the mind of buyers and it is recognizable?

This metric is also known as brand salience, it is kind of a less popular metric but a lot more complicated to measure than the TOM.

Salience, if it is to be explained in simpler words by a branding agency in India, it will be the propensity of the brand when there is a buying-situation. This is a little complicated to measure but can be done by presenting the respondents with a randomized list of cues and attributes and then figuring out which brand is being associated the most.

While branding should be taken care of so that your business elements are clearly associated with your brand. It is important to focus your marketing efforts on linking brand elements or assets back to your brand.

Stage 3-

CONSIDERATION

Does your target audience want to buy what you are selling?

This metric is widely known as Purchase intent. This is rather simple to measure by just conducting a survey asking whether people are considering to go all out and buy what you are selling.

This metric is correlated with sales. However, there is a requirement for in-depth analysis for this metric, as so many times people are willing to buy your product but at the end choose a more economical brand over yours.

Stage 4-

PURCHASE

Do people really buy your brand?

This metric is called Sales volume or Sales value. This is the only metric that does not require any in-depth research or survey- it is all your real data and not anything that people can declare.

This is where you do not require any help from branding agencies in Delhi NCR or anywhere in India. In such a metric it is important to know what drove people to go for your brand, whether it was your brand value, changed pricing or extended distribution. This is the calculation that a brand has to do on their own. If your brand is able to get this one right, it will be a game changer.

While branding should be taken care of so that your business elements are clearly associated with your brand. It is important to focus your marketing efforts on linking brand elements or assets back to your brand.

Stage 5-

ADVOCACY

Is your brand being recommended?

This metric is known as Net Promoter Score or NPS. This can be easily measured by asking people on a scale of 0-10 to recommend your brand to their peers. 9 or 10 are promoters, 7 and 8 can be called passives and anything below that is a distraction.

NPS is great for high value products like- cars, home theatre sets etc. In such products people are less likely to act impulsively and rather invest their time in research.

Bottom Line

Once you have cracked these metrics, you can easily manage your branding around it. For more detail and expert marketing, it is important to partner with a best branding agency in India. Crux Creative Solutions is a one-stop-solution for all your digital marketing related queries. For more information, you can contact us or visit our website.

How Consumer Behavior is changing

Why do you need to hire an Agency?