As part of your brand’s social strategy, it’s key that you use a brand monitoring tool. This way, you’ll be able to de-escalate a situation or possibly even prevent a negative comment from gaining any momentum whatsoever.
To determine how well your business is doing, you need to understand your revenue and your profit reports. In order to create a business that lives a long, healthy life, you’ll have to look into brand health metrics that delve into a brand sentiment rather than focusing just on sales. However, you need the right tools to measure it. Below we will have a look into brand tracking, and the types of software, you can use to keep track of your brand.
First, let’s have a look – What is brand tracking software?
Brand tracking refers to the marketing efforts used to quantify the effects of brand-building campaigns on sales and conversions. A brand tracking software tool can help you gather information on important brand health metrics—from reputation management to brand awareness.
There are many business benefits to brand building and tracking:
Creating and aligning a brand message that your consumers can relate to at an emotional level increases consumer loyalty. Strong branding means that organizations can charge a higher brand premium, as it acts as a differentiator from similar products other than price. Additionally, investing in building a known brand will make it easier to introduce new products later on down the line.
Brand tracking benefits organizations by giving them firsthand insights into the behavior, interests, and purchase patterns of their consumers. This, however, depends on how data on brand perception and associations are collected. Also, organizations can hear direct feedback from those buying their products on what they liked or disliked about the product itself and the purchase experience. Take, for example, the consumer panels. Consumer panel is a popular method of brand tracking and allows marketers and other stakeholders to engage with and learn from their customers in person. Similarly, surveys offer access to various segments of target audiences. Additionally, assisting in enhancing consumer experiences, these brand tracking efforts can help marketing teams to get a sense of where they stand among the competition, as well as purchase trends that are not obvious through digital channels, and visualize them on a recurring timeline. These marketing intelligence tools allow organizations to create and optimize products and marketing campaigns for the best consumer experiences in order to elevate their brand.
Steps to Track Your Brand
The first step you need to take to track the success of your brand is to determine your goal, collect your data, analyze, optimize, and then repeat the process. Then you need to establish a target segment and an agreed brand position: Before you can determine whether your brand is building a strong reputation among consumers, you also must determine what you want your brand message and associations to be, and among which consumers.
Step 2: In addition, you need to decide which brands to track: You have to determine which brands you want to be measured against. Then select the method you will use to collect your data and select the types of studies that will provide the data needed to obtain these metrics. Once the methods have been selected, you can begin collecting the data.
Step 3: Moving to the 3rd and most important step. In the 3rd step, you need to analyze the results: Data analysis provides insight into brand trends, consumer behavior, and brand perception. This data will indicate where to adjust and optimize to ensure the success of brand-building tactics.
Step 4: Then, you need to Adjust and Repeat: From here, adjust strategies and continue to track progress to further optimize marketing opportunities. Brand tracking software delivers results in real time. Having brand tracking software in place with neat dashboarding and reporting features means that you have instant access to real-time information on your brand.
Brand tracking tools: Below we will have a look at 3 brand monitoring tools:
Brand24 is one of the older brand monitoring tools on the market. Brand24 has been trusted by a big brands like Twitch, Uber, and Intel. Brand24 is one of the most successful leading tools for brand monitoring. Brand24’s list of features continuously gets updated. In addition to brand monitoring, it also offers first-class analytics to help you boost your marketing and branding strategies. Also, it can help you make sense of those mentions’ impact such as the engagement stats on comments and shares. Whether you want to monitor more than one brand or specific campaigns, its setup is flexible enough.
Brand24 Key features:
With Keyhole, you can track when the name of your brand, its offerings, or its competitor is mentioned across all the major social media sites as well as millions of other websites.
With Keyhole you can also able to get an overview of data relating to post volume, engagement volume, number of impressions, and reach volume. This basic data will give you a good starting point. Additionally, Keyhole offers hashtag analytics. it’s useful for curating content and helping your content reach more people.
Keyhole Key features:
The ultimate brand monitoring tool to go for. Awario focuses on social listening and other mentions on the web, and it’s very thorough with the listening. Awario crawls over 13 billion web pages daily, in addition to APIs. Add its competitive brand monitoring skills to that, and you are well underway to measure your brand’s online reputation.
Awario Key features:
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