To determine whether the advertising is effective and worth the cost, you’ll need to take measurements. Sales numbers can be tracked through quantitative data, but how do you measure people’s impression of your brand?
It turns out that you can measure people’s subjective feelings and impressions of your brand by measuring your brand equity.
Using brand equity surveys before and after campaigns serves multiple purposes: it allows you to understand people’s impressions of your brand before you advertise – which may influence the messages you create for your campaign – and it illuminates whether the advertising shifted people’s perceptions of your brand following the advertising.
How much value does your brand have? Is it memorable and impressionable? Brand equity seeks to measure how impactful your brand is. When you assess brand equity, you’ll be accounting for metrics that include:
Developing creative strategy for a campaign can be a time-consuming, expensive process, and you may not even be sure whether your efforts are improving your brand equity. To illustrate what we mean, let’s imagine that you have a pasta sauce brand called “Nonna’s”. You want to create a campaign that will increase brand awareness and advertise your brand attributes.
One attribute may be that your brand is “unique” (based on the ingredients you use and the product sourcing). How do people currently see Nonna’s? Do they view it as more unique than, for instance, Dolmio sauce? How much equity does your brand currently have?
You decide to send out a brand equity survey prior to launching the campaign. You want to understand people’s current impressions of your brand and use some of this feedback to shape your messaging strategy. Following the campaign, you’ll again send out a brand equity survey, which will gauge whether people’s impressions of your pasta sauce have changed after seeing the messaging. In other words, does your brand have more equity following the campaign?
When measuring brand equity through surveys, you’ll ask questions that directly measure whether people’s impressions of your brand change before and advertising, and you’ll use some of the questions to influence how you shape your campaign.
To measure overall brand equity, you’d ask a question like:
On a scale of 1 to 7, how familiar are you with each brand?
You’ll then list both competitors’ brands and your brand. In our pasta sauce example, you’d list some of the popular pasta sauces, such as Dolmio and Ragu, plus your sauce brand.
These types of questions will set external benchmarks before a campaign starts. If you find that people aren’t very familiar with your pasta sauce brand before the campaign, but following the campaign people are more familiar with your brand, then you’ll have evidence that your brand equity has lifted as a result of the advertising.
The types of questions that will help shape your campaign strategy more directly ask for people’s associations with brands. For example:
Which types of characteristics describe the following brands? Match the words that you would associate with the following brands:
You would then list brand-association adjectives such as “distinctive” “unique” and “best in category” to see whether people make any of these character associations with your pasta sauce brand.
The second brand equity survey that you send out following the campaign will help you understand whether the advertising changed people’s impressions of your brand’s character – such as its “uniqueness”. And, from the survey results, you’ll also have a measurement that will tell you how much brand equity your pasta sauce has.
The combination of the pre- and post-campaign brand equity surveys will give you measurable data that you can use to determine how much equity your brand has, whether your messaging strategy is working and whether your advertising is worth the budget you’ve invested.
At SurveyMonkey, we have articles, surveys and plenty of tips to help you study people’s impressions of your brand. In addition to brand equity surveys, we’ve created surveys to measure brand awareness and brand loyalty. And visit our branding resources page to get a head start on discovering, identifying and strengthening your brand identity.
Do you want to know what your customers are saying about you? Customer satisfaction surveys can help you find out what people think of your company, obtain feedback about customer service, and more.Visit Page
When you listen to your employees, you can make decisions that make for a happier workplace. Do you want to measure performance? Do you want to engage or motivate your employees? Then employee surveys can help.Visit Page
Organising an event is by no means easy. Who’s coming? What’s their schedule like? Event surveys can give you a clearer picture. When you’ve finished, receive post-event feedback so that you can improve for next time.Visit Page