Brand Metrics Key to Digital Marketing Success

As organizations devote more of their budgets to digital and social marketing, marketers find themselves wrestling with the need to demonstrate to senior management and their board that these efforts are resulting in tangible payback. Stakeholders want quantifiable results from their brand building investments and brand metrics are considered key.

As digital and social marketing and consequent brand metrics are becoming increasingly prioritized by global organizations, the need has built for developing more broadly accepted methods of evaluating brand performance. To this end, Brand Matter has been asked to lead the development of a new ISO for global Brand Evaluation representing Canada globally. 

Brand evaluation is defined broadly as it includes not only the detailed metrics of brand performance but also some of the softer management decision making factors.  As Brand Matters develops our Canadian perspective for the development of this new ISO, the following provides a summary of what some of the experts have to say:

• It is important to consider brand evaluation in the context of competition. Often this form of equity measurement is done comparatively, for example share of desire to purchase this brand over another.
• We need to bring it back to some kind of dollar value in the brand and take a look at the factors that influence that value as equity changes. Also along the same lines, attitudinal, what are the factors driving the appeal of the brand relative to its competition.
• We need to keep in mind what is the societal benefit of brand evaluation and the investment being made.
• We are not just evaluating brands per se but rather the processes underlying the development and ongoing management/support for the brand.

At Brand Matters we employ a variety of research methodologies to evaluate brands across marketing platforms to ensure effectiveness, including brand tracking and every aspect of brand management.

Effective brand metrics place more than a dollar value on the brand and help guide brand strategy and marketing campaigns over time. To learn more on this topic please feel free to reach out to us for a consultation at contact@brand-matters.com.

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