If your company is interested in increasing its long-term value, you've probably already begun to invest in branding. After all, good branding is a surefire way to build a strong relationship with your target audience while associating your brand with specific characteristics or ideals.
Great brand marketers will always ensure that their campaigns target the right audience with the right message. However, once their campaign is launched, many are left with no choice but to hope that it has the desired effect. This is because measuring brand equity is extremely difficult, and tying brand equity to sales is even more difficult.
However, there is a solution. Marketers can determine how a brand campaign influenced consumer perceptions by measuring brand lift. The perceptions can then be linked to future purchasing behaviour, allowing you to put a monetary value on your campaigns. Sounds intriguing? Continue reading to learn more about measuring brand lift.
Brand lift is a measurement of how your marketing, advertising, or customer experience efforts affect consumers' brand recognition, perceptions, and behaviour. It is frequently the most important key performance indicator (KPI) of a branding campaign or branding function within a marketing team.
Brand lift quantifies the direct positive impact that a specific touchpoint has on the overall image of your brand. A brand lift study should look beyond clicks and impressions to assess success using marketing metrics such as brand awareness, ad recall, and purchase intent. This provides marketers with a better understanding of how specific activities affect the value of their brand.
There has never been a greater interest in brand creation than there is today.
Despite this, only 3% of marketers report measuring the impact of their branding efforts.
What you don't measure can't be improved. That is why measuring brand lift is critical.
Brand measurement and lift helps in the alignment of branding efforts with marketing goals, resulting in better long-term business outcomes for the company.
Brand lift studies are used by marketers to measure brand lift. These are typically carried out by assessing two segments of your target audience: one that received your messaging and another that did not. You can better understand the impact of a message on consumers by studying the differences between these two groups. Marketers obtain this information through a variety of analyses and surveys, including:
Consumers are asked a few questions during these surveys and analyses to uncover their latent perceptions of your brand. Here are some examples of brand metrics and related questions to assist you in tracking brand performance:
Brand Awareness - Do you recognise this brand?
Brand Recall - Which of these brands sells a specific product?
Brand Loyalty - Are you likely to buy from this brand again?
Brand Experience - Do you find this brand's products to be useful?
Brand Usage - How frequently do you use the products of this brand?
Brand lift studies are essential for tracking how your brand campaigns influence consumer attitudes. However, keep in mind that this is only one side of the story. To get the most out of your brand campaigns, you must link customer attitudes to behaviour, preferably the type of behaviour that drives sales.
This article aimed to provide clarity on how to maximise each of those elements to achieve the greatest level of success, but every brand and situation is unique.
Our Holistic Branding solution assists clients in developing strategies for each of the key elements of brand lift—context, objectives, budgets, tactics, and ROI.