How to Measure Brand Awareness: 12 Top Strategies

To be successful, your brand needs to be recognizable to buyers. It builds credibility and later develops trust – all of which are essential to customer retention, and for encouraging brand advocacy. Here’s how to measure brand awareness to make sure it’s growing!

The importance of market insights for brand strategy

Brand awareness is the first step toward creating memorable experiences and establishing a brand’s identity. Brand identity can be powerful because it reinforces all the features of a business in the consumer’s mind, including what sets it apart from the competition. It’s important to make an impression, as this increases the probability that consumers will buy from a  brand, And being top of mind when consumers decide to make a purchase is precisely where a brand wants to be, after all.

But – how do you know if your efforts are working?

Measuring brand awareness can feel elusive. It is not like customer volume which you can get straight from your logs. Nor is it like revenue, which is easily calculable over any period of time. But there are many avenues to explore when it comes to how to measure brand awareness – and we have 12 of them below.

1. Share of Voice

Consumers are constantly discussing products, services, and brands. Topics range from the problems they are engaged in solving to the options they are considering or their past experiences with various products and brands.

The totality of these conversations across various avenues is the voice of the market. Share of voice refers to the amount of conversation that is directed to a particular brand. And since consumers only talk about brands and products they are familiar with, it’s a good sign to have a significant share of that conversation directed toward your brand.

allergy-and-sinus-share-of-voice

However, you must also consider the amount of conversation that is about you, especially compared to the competition – as we can see above. This is how share of voice helps you determine your brand awareness in the category.

2. Hashtag Volume

There are different ways that social media users find what they want; oftentimes, it’s as simple as scrolling down their newsfeed or timeline. They can also find things using the search function on a platform, with a quick way to sort through the noise – hashtags.

The hashtag is one of the cleverest social media inventions. Initially found on Twitter, it has long since gone mainstream an is found on all social networks including Facebook, Instagram, TikTok, LinkedIn, and Pinterest. And even when it’s not searchable on a site, people still use them out of habit. And then we see brands use them to join or start their own conversations.

You can use it to gauge how users are engaging with a topic whether originated by you, an influencer, or a competitor. Accurately measuring hashtag volume is important – as is doing so consistently over time:

trending-hashtags

3. Net Sentiment Surrounding the Brand

So far, we have been concerned with how much consumers are discussing or engaging with a brand. However, it matters if they feel positively or negatively in their interactions. This positive or negative (or neutral) attitude of consumers towards a brand is referred to as sentiment.

Sentiment can fluctuate over time depending on various factors such as crises or improvements in customer service. Net sentiment ranges from -100 to 100 and is helpful when evaluating different time periods or campaigns. Measuring it can reveal not only the changes in consumer attitudes but also fluctuations in brand awareness.

summary-metrics-and-sentiment

4. Target Audience Indicators

Consumer conversations have certain tells that brands can use to find their target audiences. It could be the words or slang they use, the influencers they follow, or the other, similar brands they engage with. These are target audience indicators – they point you in the direction of a segment. And these segments can be known or unknown.

Target audience indicators can be a measure of brand awareness in a number of ways. First, if your brand-specific language has seeped into the market, this is a clear indication of brand awareness and influence. Second, by tracking them across different networks, target audience indicators can tell you the most popular platforms with your target audience. This can help you decide where to focus your marketing efforts.

And once you have a sense of who they are, you should also dig into the terms they use and whether that language is found more often in their conversations (as measured against the general Twitter population, as seen below – or against whatever standard you’d like to apply) and if it has positive, negative or neutral connotations. Tracking this over time helps brands determine if their efforts are impacting these conversations, and how they’re perceived:

over-indexed-audience-conversations

5. Target Audience Sentiment

The target audience sentiment can be negative, neutral, or positive. It is calculated on a scale of -100 to 100. This shows you the aggregate of the feelings of your target audience.

The process of finding out your target audience sentiment at any particular time can also help you measure brand awareness. If you have a large dataset to work with, that’s good because it tells you people are talking about your brand. Secondly, your intelligence tool may be able to reveal more than just the aggregate. For instance, the NetBase Quid sentiment analysis tool returns results in a word map of top emotions color-coded to show you the distribution of sentiment e.g. love is coded green while hate is red. You can use this to see the share of brand awareness whether positive, negative or neutral.

6. Channel Engagement

Different brands have their target audiences distributed unevenly across various social media channels. Similarly, the audience may be more active on a certain platform than on another. For example, a fashion brand with a broad social media presence may get more messages on Instagram DM than anywhere else while an ecommerce store may find most of their customers enquiring through Facebook Messenger.

Understanding your audience’s preferences can help you engage better with them. Similarly, differences in the rate of engagement across channels can signal to you where your brand is best known. You may then decide to improve your visibility on other channels or focus your efforts on the largest sources of engagement.

engagement-across-social-channels

7. KOL Interaction or Alignment with Brand

KOL or key opinion leaders are the people on social media who have a great influence over the opinions of other users in a given category – and hence, influence over their consumption decisions.

A KOL is typically an expert who has earned credibility through their profession, using social media to share ideas and opinions without necessarily promoting specific brands. However, it is not unusual for KOLs to inadvertently promote brands. Their main interest being the wellbeing of their followers, they will often mention brands that they believe contribute to this end.

Being mentioned in the context of a KOL is sure to bring a boost to your brand awareness. You can measure just how big by calculating impactful metrics from the conversation including post reach and engagement.

8. Influencer Engagement 

Unlike KOLs, influencers mention brands deliberately with a specific aim: To improve the brands’ visibility to consumers. Influencers are capable of both fueling the conversation around your brand as well as persuading others to buy from you. Their power over consumers is based on perceived knowledge, position in your organization/society, or authority on the subject.

The amount of engagement generated by an influencer on behalf of your brand can tell you two things: How good they are at their job and how well-known your brand is among their audience. A really good influencer will not just boost engagement with your existing audience but also grow it. Brands hire influencers who have a connection with their target audiences and then use their AI-powered analytics tool to track success!

9. Media Mentions

Media coverage is still one of the most effective traditional ways to gain brand awareness amid the modern techniques. Even a mention in the traditional media such as TV and radio can expose your brand to a diverse audience and enhance its credibility. Well, that is assuming you’re mentioned positively.

Tracking media mentions requires tracking a mix of paid and earned opportunities. And throwing in the amplification your earned channels provide is a neat metric to track as well:

owned-earned-paid-media

10. Post Impressions and Reach

Even before engagement, it helps a brand to know that its social media content is being displayed, even better, that it is being seen by users.

Most social media platforms have a metric on all posts referred to as impressions. Post impressions are an indication of how many times your content has been displayed. There is another metric known as reach. This refers to the number of users who saw your content. While impressions don’t consider whether the user clicks on the post or not, reach does. This may be opening a video, clicking on a photo to see the full size, or clicking on a post.

Both of these metrics can help you measure your brand awareness, but they should not be taken in isolation, as the numbers can be heady and distracting.

11. Website Traffic

As a company’s headquarters, measuring website traffic is a must. Every visit is a virtual calling card that should be folded into your analysis to better understand which pages are holding visitor’s attention the longest and where they’re exiting. Google analytics is the gold standard for the metric, of course – and the intel it offers should be folded into your overarching analysis to better understand what is resonating. Combine it with consumer and market data to pinpoint who it is resonating with and where they’re finding your website to being with. The ‘source’ data that advanced AI-powered analytics offers will reveal this info.

12. Customer Feedback

Last but not the least, customers have all the information about whether they’re aware of a brand’s existence and how they feel about it. Brands would therefore do well to ask their customers directly or capture their insight online, rather and not bother them with a bunch of questions they don’t have time to answer!

Everything about social media analytics revolves around revealing consumer intelligence that will inform every aspect of your organization. You can fold in blog and comment data, forums, review sites and even slang and emojis that are relevant to your search.

popular-terms

Consumers are online sharing something about their latest experience with your products, and you need to be there to capture them, consistently and in real-time.

Collecting the right type and amount of data is key to how to measure brand awareness. Reach out for a demo today and we will show you how to use next generation AI to enhance any brand’s awareness efforts!

The importance of market insights for brand strategy

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