3 ways to evaluate the strength of your brand
3 ways to evaluate the strength of your brand.
A brand is challenging to measure.
It’s challenging to quantify because it’s an abstract idea.
But, as with anything in a company, it’s crucial to develop metrics for measuring growth.
Now, I like to think of a brand as a connection between your company and your target market.
Additionally, a relationship could appear to be intangible.
However, if you think about the objective—to attract customers for your company—you can start to gather data that you can use to gauge the power of your brand.
1. Create a list of all the touchpoints for your brand.
The points of interaction between you and your audience are your brand touchpoints.
Your marketing initiatives, the content you provide, and all interactions.
Your brand touchpoints as a whole determine the experience you provide to potential customers.
Several touchpoints in your company might be:
- The Website
- Instagram and Facebook ads
- Social Networking Sites
- Facebook groups,
- Business Cards,
- Emails/ Newsletters,
- Videos and Podcast Episodes
- Proposal Documents
- Pricing Lists
- Lead Magnets
- Landing Page
2. Create a client journey map
You should start thinking about where and when your prospective customers will interact with each touchpoint now that you have a list of them.
What are the steps your ideal clients take between discovering you and ultimately hiring you? How are you establishing a connection with your audience so they may learn more about your company and decide whether to hire you?
Your touchpoints should be categorized into roughly four stages:
- The awareness stage is when your target market is first exposed to your brand. It might be done, for example, by advertising or content marketing.
- The consideration stage is when prospective customers are learning about your business and how they may use your services to their advantage. You need to be able to explain why they should choose your company above others because they might still be considering their options. Creating a rapport with your audience during this stage can entail using a closed Facebook group, a regular email newsletter, and low-cost offerings.
- The conversion stage : At this point, your prospective customer has chosen to proceed and take the next step with you. That could entail submitting an application, scheduling a call, or formally paying for your services. However, with higher-ticket offers, the conversion is probably delayed by at least one call. Consequently, this is the phase that transitions from marketing to sales.
- The stage of loyalty: After someone becomes a client, remember to look out for them. The best attention and brand experience you can give should be given to those who are actually paying you money. In order to foster a lasting connection, you want to keep developing your relationship with them. Your biggest supporters are your most devoted customers.
Your brand touchpoints must be guiding your audience in some way. Make sure you’re thinking of approaches to achieve your objective of gaining clients. Building stairs that don’t truly lead anywhere is not what you want to do.
If you discover any, use this chance to modify them or remove them totally. Spending time or effort in areas that don’t advance your audience through these stages is pointless.
3. Create a list of the steps your clients must take.
Here is where you may begin to gather analytics so you can gauge the success of your brand.
Search for conversion rates, engagement rates, or other data at each stage of your client’s journey. How many individuals, for instance, visit your website each month? How many people are members of your Facebook group or email list? How many of them have ever scheduled a call? How much money do you invest on marketing? What is your return on that investment, then?
When making these kinds of measurements, you must take timeframes into account.
Because it relies on forging relationships with your audience, building a brand is an ongoing approach.
Try to keep track of the travel time for the clients you bring on.
You could, for instance, time how long it took someone to go from signing up for your email list to scheduling a call with you.
Knowing how long your client journey is will help you estimate how long it will take before you start to see the effects of any branding adjustments you make.
How to keep score with metrics
For a start, you should unquestionably install Google Analytics on your website. This will give you access to information such as the number of visitors to your website, the most popular pages they browse, and much more. To track conversions, you may also define goals.
You may track your activities and the level of engagement you receive from your audience by using the statistics that are frequently incorporated into your email marketing service, business social media accounts, and other business tools.
Just a brief reminder that a lot of external factors will have an impact on your stats. Algorithm changes, for example, can abruptly skew your data and affect conversion rates much later in the client journey (funnel) than you might anticipate. But as long as you keep an eye on your stats, you’ll be able to see changes.
How to use your metrics
The most crucial thing is to track your data once you begin to understand them. Attempting to compare your figures to those of another company is useless. Only over time can you compare them to your own outcomes in order to determine whether or not things are getting better.
You might not know what is “good” or not when you first start keeping track of your stats. That’s alright! You currently have a baseline. You can determine whether your numbers have increased or decreased as you keep an eye on them. You can observe what transpires if your messaging is modified or a sales page’s appearance is altered.
Things to look for
You can begin to identify the strategies that have actually performed effectively and those that haven’t as you track your stats.
Did you publish a blog post that received a lot of comments?
Is there a welcome email that gets a lot of unsubscribe requests?
Do not forget that your brand is a relationship.
You must pay attention to what is happening from their perspective and pay attention to how they react to you and what you are doing.
As long as you continue to do that, your brand will develop and become stronger over time.
Here are the three steps you must start with in order to gauge the power of your brand. List all of your touchpoints first. Next, create a journey map for your clients. Track the numbers, third.
You won’t be able to assess if your company is moving in the right path until you have a way to gauge the power of your brand. You can decide what modifications to make based on reasoning, as opposed to making changes based on assumptions. And I fully support tha