What is Brand Tracking?

What is Brand Tracking a.k.a. Brand Guidance?

Brand tracking is a longitudinal study to examine the attitudes toward and awareness of a brand over a set period. It includes what customers think about a brand, and how they act towards a brand, the brand’s position in the market, and the growth potential for a brand.

According to Tom Ewing, brand trackers “look to give a big-picture view of a brand’s fortunes and market position. At the same time, they have looked to provide tactical advice based on movements in the market. In an ideal world, the big-picture metrics would let marketers make strategic decisions.”

Brand tracking “uses multiple sources of data to help understand the impact of marketing on short and long-term brand equity and sales.”

 

How is Brand Tracking conducted?

Methods

• Surveys and interviews (although many researchers prefer to rely on an integrated program focused on newer methods of data collecting)
• Ad Testing
• Predictive Analytics
• Text Analytics
• Social Listening/ Conversation Mining/ Social Intelligence
• Recall Measurement
• Segmentation
• Brand Interpretation
• Trade-Off or Choice Modeling
• Interactive Voice Response (IVR) surveys
• Predictive analytics mapping
• Experience Ethnographies
• Digital Clickstream Patterns

Types of Software Used

• Domestic and Global Brand Tracking software
• Voxco Survey Tools
• real-time market simulators
• AI
• NLP
• Insight News Service (The Hub)
• Fulcrum Mobile Form Builder and Data Collection App
• Adimension® Cross-Media measurement solution

 

The Key Metrics that are tracked in brand tracking studies

• Impact of advertising, marketing, promotions, and product development
• Competitive intelligence
• Conversion funnel performance
• Consumer Insights
• Net Promoter Score (NPS)

 

What kind of questions are best answered with brand tracking

• Questions related to the fame of the brand: “Does our brand readily come to customers’ minds?”
• Questions related to the feelings surrounding the brand: Does thinking about this brand evoke positive feelings for a customer?”
• Questions related to the fluency of the brand: “Do customers recognize the brand?”
• Questions related to audience targeting: “What segment of the population should we be targeting?”
• Questions related to the behaviour of your current consumers: “Are out highest value consumers talking about us on social media? Are they downloading our app?”

 

The Benefits of Brand Tracking

• Gives marketers a big-picture view of a brand’s position in the market
• Provides insights into the competition
• Segmentation insights for receptive audiences that were previously overlooked
• Reputation building among customers and potential employees
• Identify pain points for customers

 

Follow Up

Brand Tracking is most effective when conducted continuously.

 

Additional Tips

• Use always-on brand pulses like social transactional data, experience, and communication to get up-to-the-minute data on media effectiveness
• An ideal Brand Tracking model works in real-time to easily and quickly connect researchers and clients to the voice of the customer by phone, tablet, and computer
• An ideal Brand Tracking model integrates mobile and traditional survey feedback with text analytics to bring structure to the consumer’s voice
• An ideal Brand Tracking model integrates data from digital and social sources to understand the new consumer journey
• Brand tracking automation must reduce cost and management so researchers can get more data for the same cost

 

 

Our best resources for learning more about Brand Tracking

Blog Articles

Behavioral Science" href="https://www.greenbook.org/mr/market-research-methodology/fame-feeling-and-fluency-when-brand-tracking-meets-behavioral-science/">Fame, Feeling and Fluency: When Brand Tracking Meets Behavioral Science

What Happened to Brand Tracking in Market Research?

An Insider Look At Reinventing Brand Equity Tracking

What Is The Future of Brand Tracking?

Traditional Tracking Looks Like a Taxi Cab in an Uber World

What Happened to Brand Tracking in Market Research?

 

Case Studies

Global Brand Tracker for a Financial Firm

NPS and Competitive Assessment for SunPower

Brand Tracker in Financial Services

Bonding Community with Industry

Travel Agent Behavior Study for Booking Hotels

Mediametrie optimizes listener data via centralized interviewing

How Quality, Human Answers Are Powering Transformative Brand Tracking Intelligence

Cimigo interviewers use CAPI to survey 250,000 multilingual Hong Kong tourists

Research Now & Carat track Cross-Media Campaign Effectiveness for Three Power Brands

 

Webinars

Why Future Relevance and Vitality is Critical to Brand Success

How an Agile Brand Tracker Helped Founders Brewing Co. Inform Its Future Brand Strategy

 

Find a company that specializes in Brand Tracking

 

 

Photo by Kristian Egelund on Unsplash