Reach, views, clicks, likes, shares, comments, influencer scores.
is there anything we don’t measure today to get to the bottom of what our investment in marketing delivers?
It is no longer hard or expensive to measure the micro-outcomes of any marketing campaign. Be it for a specific launch or just as likely today, an ‘Always-on’ campaign to keep your brand visible to your butterfly consumer – you are already using ALL THE THINGS to see what is happening moment to moment and are no doubt across the cost of every action you take.
what is the value of all this data if you can’t point to the fundamental shift in behaviour, you want your customer to exhibit?
Moving beyond raw reporting is essential.
You need to point to the real impact you are having on your brand’s bottom line. Here are some crucial intelligence points you must be across when working in rapidly evolving categories – and let’s not kid ourselves, all FMCG categories are rapidly evolving today!
Each of these metrics will show you, without a doubt, your place in the brand sphere. When tracked over time and against other brands in your category, another level of insight becomes clear and the TRUE value of your investment is uncovered.
- Awareness – The number of consumers who are aware of not only your brand but those you need to keep an eye on. You can of course interpret this from other data points in your suite, but what could be better than a direct consumer response to a question like this?
- Identification with brand values – Do your customers understand what you are hoping to communicate? Are you really hitting your marks and resonating how you’d expected?
- Sentiment – How positive or negative consumers feel about your brand? Remember, yours’s is not the only voice the customer hears, how do they feel about your competitors?
- Recommendation – Would your customers recommend your brand? How do you compare over someone else’s and how is that changing based on your activity?
- Value and Quality– Does your customer believe your brand represents the quality and value for money you would expect? Is your spend on marketing improving this figure over the short run of a single campaign and longer-term through your strategy?
- Purchase consideration and Intent – Will all that hard work and investment drive a customer to look at or buy your brand? When tracked over time, these two factors are by far and away the two most impactful measures of marketing ROI you can have.
Remember, it is not all about you! What if you could not only understand these impactful metrics for competitors and maybe relevant brands from outside of your core category too?
By creating a matrix of the above factors, you can score the relative strengths and weaknesses of the brands you need to track. Both in a snapshot, but also over time. When overlaid with the activity and costs incurred, you can really start to see the real returns you are achieving.
How often and how much does all this cost?
The frequency of measuring these essential indicators needs to reflect not only your ‘always-on’ marketing, but you should also be able to analyse specific campaigns to get to grips with what specific actions change behaviours in your customers.
There is of course lots of value in knowing how each of these points change over say, a season, but how about taking this approach to micro analyse the true impact of a regional or topical campaign? Your learnings from this level of detail are invaluable to your future successes.
If you have got to the bottom of this post, thanks for sticking with it. The fact is, this isn’t some moment of enlightenment I came up with over my coffee. These data points have long been the domain of large companies employing high-cost agencies to undertake deep, slow, and infrequent consumer surveys.
Brand tracker service from Vypr “Do They Love Us”
To find out how you can benefit from using REAL marketing ROI intelligence for the first time or if you already have access to this kind of data but need to increase speed to match changing markets while reducing costs, then please contact us today to book a quick demo of Vypr’s brand tracker service “Do They Love Us”.