Brand Leadership and Differentiation
What is the Brand Fame metric?
Brand Fame measures brand clarity, stature and differentiation and how well both these elements are integrated into the brand.
It should be noted that Brand Fame is not about a brand’s size or stature. It’s also unrelated to metrics such as Brand Awareness, Momentum or Popularity. Indeed many disruptive or high-growth brands have some of the highest Brand Fame scores.
The are many ways to be different. For many decades brands have often focused on creating a single USP (Unique Selling Point). USPs are still important, but there are many other ways to stand out from the competition. For example Being the market leader (#1 Sales), a thought leader, an authority or iconic, or simply being new and disruptive.
There are two key aspects to Brand Fame: Uniqueness and Leadership. Brands that have neither of these attributes tend to struggle, with little to set them apart from their competitors.
The impact of a high Brand Fame score
Strong Fame starts with a clear brand identity, proposition and positioning. Brands that fail to have a clear purpose or focus on who they are, often fall into no-man’s land – a state which we call ‘Characterless’.
From day one, all brands and the entrepreneurs behind them have ambitions to become the next Apple or Amazon of their market. However, as brands grow and try to appeal to a wider audience, they inevitably become increasingly ubiquitous, boring and run out of steam (Momentum). Whilst brand growth is undoubtedly the goal for most brands, it is essential this is done without diluting the brand and its Brand Fame.
Balancing your leadership and distinctiveness will ensure you stay on the straight and narrow.
Essential Brand Metrics
Running brand tracking surveys over time will allow you to spot trends over time and allow you to take action quicker. But you’ll need to measure more than brand metrics if you want truly actionable research, so Welcome to BrandVision.
Welcome to BrandVision
Metrics to Turbo Charge Your Strategy
BrandVision is our flexible brand evaluation system that can be fully customised to your requirements. From self-serve to fully managed BrandVision offers tracking for brands of all shapes and sizes.
Awareness & Mindshare
The Battle for the Mind
Many marketers believe Brand Awareness is a single metric – in truth, it’s a lot more complex than that! As experts in brand awareness measurement, we’d like to explain why.
Behavioural Economics has shown the importance of Availability Bias and that winning customers’ choices means being front of mind. Brand Awareness metrics include; Prompted Brand Awareness, Brand Recognition and Brand Recall. Together we call it Mindshare.
Awareness alone is pointless if your brand doesn’t possess Brand Magnetism.
Part of the Brand Funnel, Magnetism refers to the attraction your brand has with the target market.
There are two aspects to brand Magnetism. Firstly the strength of appeal and interest in the brand. Secondly, it is about the segments and groups interested in the brand. Understanding who and who isn’t interested in your brand are the first step in creating a strong marketing and brand strategy.
Brand Magnetism is the holy grail for many brands as it is often associated with some of the best and most iconic brands in history.
Net Promoter Score
The Recommended Metric
Net Promoter Score was initially developed in 2003 by Bain & Co to help companies earn customer loyalty and inspire employees,
NPS is an important part of consumer research for many companies as it is a measure used to gauge customer loyalty, satisfaction, and enthusiasm for a company
Further research carried out by Nielsen has supported the metric, confirming that word of mouth is the most influential element of consumers’ purchasing decisions.
Creating Strong Relationships
Branding is much more than just a brand name, logo or strap line. Successful branding is far deeper than that.
The best and strongest brands form an emotional relationship with their customers. We call this Emotional Branding and along with Brand Love these forms a pivotal part of our BrandVision approach and our Brand Equity Wheel.
Developed by Robert Plutchik, the Wheel of Emotion helps to explain how emotions work.
The Power of Love
The concept of Love in brand relationships has been receiving immense and escalating attention. It is considered by many experts as the essential ingredient for capitalising in today’s new order.
Brand Love underpins the consumer-brand relationship. It’s not an emotional or fluffy metric but rather the holy trinity of brand metrics, combining three powerful metrics: Relevance, Need and Trust.
Evaluation of brand tracking data has taught us, time and time again, that Relevance is arguably the most important metric of all – and is highly correlated with consumer behaviour.
Discover the power of Brand Momentum.
Momentum refers to the growth potential for your brand and its likely future trajectory. Momentum measures the extent to which your brand is seen to be growing or declining.
Momentum is a complex KPI and is driven by your marketing activity and spend, product availability, brand image and your brand proposition and positioning.
Brand Momentum is a better indicator of growth than virtually any other consumer metric. Its role is far more important than the highly regarded Net Promoter Score (NPS) because it is a better predictor of consumer behaviour than any other brand metric.
8 Secrets to a Healthy Brand
The 8 Essential brand image metrics are:
- Brand Identity -Does your Brand identity have Clarity?
- Brand Noise – is your brand Grabbing people’s Attention?
- Newsworthy – Is your brand worth talking about?
- Outstanding – Do you offer exceptional Quality or Value?
- Variety – Is your brand flexible or have multiple uses or benefits?
- Accessible – Is your brand Readily Available and Convenient?
- On Trend – Is your brand Topical & Current?
- Ethical – Are you seen to be doing the right things?