What are KPIs for brand awareness? In business, brand awareness is critical for a successful marketing strategy. KPIs, or key performance indicators, can be used to measure the effectiveness of a company’s efforts in building brand voice and identity. These indicators help businesses track progress towards their goals and make data-driven decisions to improve brand recognition and association with specific products or services.
Whether in finance, HR, marketing, or sales, KPIs can help you move forward strategically and maximize your efforts. Ultimately, KPIs help keep everyone aligned and focused on achieving the same objectives.
Let me first explain the difference between KPIs and metrics because while they’re related, they’re not the same.
KPIs are particular goals you want to track to maximize your strategic business outcomes. They support your overall strategy and help your teams focus on what’s important.
A brand awareness KPI example could be “increase monthly exposure by 10% within the next six months.” This KPI supports the overall goal of growing the business and provides a specific target for the team to work towards. Other examples of KPIs might include “improve customer retention by 15%”, “increase website traffic by 20%”, or “reduce product defects by 5% in the next three months”. KPIs are high-level targets that help you focus on what you want to prioritize in your business. For this reason, KPIs are often used to help grow brand awareness.
On the other hand, metrics are the specific data points you use to track progress toward your KPIs. They are the individual measurements that provide insights into how well your brand resonates with your target audience. Some examples of brand awareness metrics include “number of followers” or “CTR.”
In short, KPIs are the big-picture goals you aim for, while metrics are the specific units you measure to help you achieve those goals.
The Importance Of Brand Awareness
Brand awareness is critical to the success of any business. The foundation of this success is in building trust and credibility with customers. Brand awareness is a crucial component of achieving this goal. Based on a survey done in 2022, consumers are 46% more likely to purchase a product from a brand they trust. By consistently promoting your brand, you can create a sense of familiarity and reliability with your target audience.
Through various marketing strategies, such as advertising, public relations, and social media, you can showcase your brand’s unique qualities, values, offerings, and establish yourself as an authority in your industry.
By building this trust and credibility, you attract new customers and retain existing ones who value their relationship with your brand.
How KPIs Help Measure And Improve Brand Awareness
Key Performance Indicators are essential for measuring and improving brand awareness. By identifying areas of improvement and monitoring progress and results, businesses can make data-driven decisions to optimize their marketing strategies. KPIs provide a clear picture of how effective a company’s branding efforts are, from website traffic and social media engagement to conversion rates and customer loyalty. By tracking KPIs, businesses can uncover valuable insights into how their target audience perceives their brand and what they can do to improve it. With KPIs as a guide, companies can make informed decisions, and tailor their branding efforts to better resonate with their audience.
KPIs are beneficial because they help you:
- Identify what’s working in your branding efforts and measure how well it is working.
- Discover why what you are doing is working well.
- Decide which strategies aren’t working well and how to change your approach.
Top 10 KPIs For Brand Awareness Campaigns
Now, let’s delve into the meat of the matter – discovering the top KPIs to measure brand awareness. It’s essential to keep in mind that every business is unique, and what works for one may not be necessary for another. Consider which KPIs may work best for the campaigns you have chosen.
Social Media Engagement
Social media engagement measures the level of interaction between your brand and your social media followers, which can help increase brand awareness and drive customer loyalty.
Social media platforms offer valuable metrics and analytics tools, especially for ads and sponsored posts.
Whether you’re building brand awareness organically or through paid options like native ads and influencer partnerships, measuring the following social media metrics can be a phenomenal way to assess brand awareness.
- Likes, shares, and comments: We can all agree that it’s exciting to see a higher number of likes, shares, and comments on our posts. Measuring how these numbers fluctuate depending on the campaign or content you post can give you a lot of valuable insight into what strategies resonate with your customers and which are falling short.
- Follower growth: When people follow a brand’s social media account, it means they are interested in the brand’s products, services, or content. This interest can stem from exposure to the brand through various marketing efforts, such as advertising, influencer partnerships, or content marketing. By tracking follower growth over time, you can determine if your brand awareness campaigns are effective and make adjustments if necessary. High follower growth rates can also increase engagement and sales, making it a valuable KPI to track.
- Hashtag usage: Monitoring the usage of branded hashtags is an effective way to track the impact of your brand awareness campaigns on social media. Branded hashtags are unique to your brand and can be used by followers to share content related to your brand, allowing you to track your audience’s engagement. By analyzing the number of times your branded hashtag is used, you can measure the level of interest and engagement your brand generates on social media. Increased usage of your branded hashtag can indicate improved brand awareness and customer loyalty, while decreased usage may indicate areas where you need to adjust your strategy.
Website traffic
Google Analytics offers a variety of trusted metrics for monitoring these crucial factors and provides actionable data for retargeting ads. Take advantage of the opportunity to leverage these essential brand awareness measurement tools whenever you run brand awareness campaigns.
1. Unique visitors: Suppose you’re currently running an awareness campaign for your website. One of the critical indicators of success is the number of unique visitors checking out your website. Increased traffic is a solid indication that your digital marketing campaigns are working and more people are discovering your brand.
2. Bounce rate: This indicates the percentage of visitors who leave a website quickly without taking action or engaging with the content. A high bounce rate may imply that the visitors were uninterested in the content or that the website failed to meet their expectations. This can be a sign that the brand awareness campaign may not effectively target the right audience or that the content needs improvement. By analyzing the bounce rate, businesses can gain valuable insights into their audience’s behavior and optimize their campaigns and content to keep visitors engaged and interested in their brand.
3. Time spent on site: The longer visitors stay on your site, the more likely they are to engage with your content and take actions that lead to conversions. By monitoring the average duration of a visitor’s session, you can gauge how engaging and relevant your content is to your audience. If visitors spend less time on your site than you’d like, it could be a sign that your brand message isn’t resonating with them. Alternatively, if visitors are spending a significant amount of time on your site, it could indicate that your brand awareness campaigns are effective in attracting the right audience. Tracking this metric is essential to optimizing your website’s user experience and ensuring visitors stay engaged with your brand.
4. Pageviews per session: This indicates how many pages visitors view during a single session on your website. A high number of page views per session shows that your audience is interested in your brand and find your content relevant and valuable. It also suggests that your website is user-friendly and easy to navigate, contributing to a positive user experience. As you track this metric, you can identify which pages and content are most popular among your audience, enabling you to create more content they enjoy and promote your brand further.
Search Volume
1. Branded keyword searches: Refers to the number of times users search for your brand name in search engines. Many branded keyword searches indicate that people are interested in your brand and actively seeking out your products or services.
2. Ranking for non-branded keywords: By ranking high in search engine results for industry-related terms, you increase your visibility to potential customers who may not yet be familiar with your brand. This metric helps measure the effectiveness of your content marketing strategy and overall brand awareness. By regularly monitoring your rankings for non-branded keywords, you can adjust your SEO strategy and improve your search engine visibility.
Media Mentions
1. Press coverage: Press coverage is a crucial brand awareness KPI that measures your brand’s visibility in news articles, blogs, and other media outlets. By monitoring press coverage, you can gain insights into how well your brand resonates with your target audience and how it is perceived in the public eye.
2. Influencer collaborations: Influencer collaborations have become an increasingly popular strategy for boosting brand awareness in recent years. You can increase your brand’s exposure and credibility by partnering with social media influencers with a large following in your target audience. Metrics such as the number of influencer posts, reach, engagement, and conversions can help measure the success of these collaborations.
3. Brand mentions on forums and blogs: This metric tracks the frequency of online conversations and discussions about your brand and how people are talking about it. It can reveal insights into your brand’s reputation, perception, and sentiment among your target audience.
Surveys And Market Research
1. Unaided and aided brand recall: Unaided recall refers to how well consumers can remember your brand without any prompts or hints, while aided recall involves providing a hint or prompt to help them remember. By measuring these KPIs, you can determine how well your brand sticks in consumers’ minds and how effective your marketing efforts are in creating brand awareness. Unaided recall is particularly important as it measures how top-of-mind your brand is to consumers, which can lead to higher brand preference and loyalty. On the other hand, aided recall can provide insight into which marketing tactics are most effective in increasing brand awareness.
2. Brand preference: Brand preference is a key performance indicator (KPI) that measures the percentage of consumers who prefer your brand over your competitors. This metric is critical in determining the effectiveness of your brand awareness campaigns, as it provides insight into how well your brand resonates with your target audience. Additionally, by analyzing why consumers prefer your brand, businesses can identify key strengths and areas for improvement to enhance their brand image further and increase customer loyalty.
3. Net promoter score (NPS): Net promoter score (NPS) is a key performance indicator that measures customer loyalty and satisfaction.
It involves asking customers a simple question, “How likely are you to recommend our brand to others?” and asking them to rate their answer on a scale of 0-10. Based on the responses, customers are classified into three categories: promoters (9-10), passives (7-8), and detractors (0-6).
To calculate the NPS, the percentage of detractors is subtracted from the percentage of promoters, resulting in a score that ranges from -100 to 100.
A high NPS indicates that a significant number of customers are willing to promote your brand to others, which is a strong indicator of brand awareness and customer loyalty.
How Do You Measure Brand Awareness KPIs?
As you will recall, KPIs and metrics are similar, but distinctly different. Given that they share a certain commonality, you will notice some metrics are the same as various KPIs. Remember, KPIs are large long-term goals such as “Increasing followers by 20% in 5 months”. However, the best metric to measure the success of this KPI is tracking the number of followers on social media.
Here are a few more common metrics to measure KPIs:
- Analytics tools: Use tools like Google Analytics or social media analytics platforms to track website traffic, engagement, and click-through rates.
- Surveys: Conduct brand awareness surveys to gather feedback from your target audience on their awareness and perception of your brand.
- Market research: Use market research to gather data on your brand’s position within the market and how your target audience perceives it.
- Campaign tracking: Track the performance of specific campaigns or initiatives by monitoring metrics like reach, impressions, and engagement.
- Sales data: Analyze sales data to determine the impact of your brand awareness efforts on revenue growth.
How To Choose The Right Brand Awareness KPI Metrics
Choosing the right brand awareness metrics can be challenging, but there are a few key steps you can follow to make the process easier:
- Define your objectives: First, identify what you want to achieve with your brand awareness campaign. Do you want to increase overall brand recognition or drive more traffic to your website? Understanding your objectives will help you select metrics that align with your goals.
- Consider your audience: Think about who your target audience is and how they interact with your brand. Consider which metrics will help you measure the impact of your brand awareness efforts for this audience.
- Look for relevant metrics: Once you have identified your objectives and target audience, research the available brand awareness metrics. Look for metrics that are relevant to your specific industry and business needs.
- Identify leading and lagging indicators: Leading indicators predict future performance while lagging indicators reflect past performance. Identify a balance of leading and lagging indicators to comprehensively view your brand awareness efforts.
- Focus on actionable metrics: Choose metrics that you can use to make informed decisions and take action. Metrics that are too general or difficult to interpret may not help drive your brand awareness strategy forward.
Choosing the right brand awareness metrics requires strategic thinking, audience research, and data analysis. By following these steps, you can identify the metrics that will be most useful in measuring the success of your brand awareness campaigns and driving your business forward.
Final Thoughts
Brand awareness KPIs are essential for businesses looking to grow and increase visibility. Choosing the right KPIs and metrics requires strategic thinking, audience research, and data analysis. By implementing brand awareness KPIs and tracking them, businesses can improve customer engagement, loyalty and drive revenue growth.If you need help identifying the right KPIs for your business or measuring their success, consider contacting the experts at Ad Science Lab. Our team can provide tailored solutions to help you improve your brand awareness and attract a more qualified audience. Take advantage of the benefits of using brand awareness KPIs – contact us today to learn more about our services.
