Remember that every business has a brand regardless of whether you take an active role in its management or not. The question is how to manage it so that it is consistent and coherent with your values and positioning, so that you convey the right associations in the minds and hearts of your audience. The health of the brand is something that starts from within the organization, through the proper transmission of its essence, and reaches the outside, thanks to the action of employees and communication. A healthy brand is something that is achieved over time, as there is a cumulative effect on each of the actions that are undertaken. Undoubtedly, the current digital and multichannel environment represents a major challenge in the health care of the brand.

Why It’s Important to Measure Brand Health

The health of the brand is based on more than just its image, it involves a set of interrelated elements that derive in the result of the business. Measuring it means getting a 360º view of your position in the market, your customers and your competition. It will be necessary to identify and isolate the different elements that affect it, measure them and link them to the performance of the business itself, combining the short and long term, investment and return.

In this blog I already talked about the 5 key elements that allow you to evaluate the health of the brand:

  1. Leadership. It measures the perception of the brand across multiple touchpoints. Answer the question.
  2. Commitment. It assesses the vulnerability of the brand, its weak points, the reluctance of consumers.
  3. Attractive. What is the brand’s map of positive associations. What drives customers and prospects to the brand?
  4. Distinction. It calculates perceived relevance, how it stands out from its competitors.
  5. Satisfaction. In itself, it is a measure of performance against expectations.

8 Relevant Indicators for Brand Health Monitoring

On this occasion I am going to highlight 8 relevant indicators for the control of the health of the brand:

1. Brand Consistency (BC)

Brand consistency implies a qualitative assessment of all the elements of the visual and verbal identity contrasted with the way in which they collaborate to reflect the brand’s DNA. It can be achieved by repetition or by parallelism (the same idea expressed repeatedly, in different ways as long as they do not alter the essence of the brand).

2. Net Promoter Score (NPS)

It’s a measure of customer satisfaction and loyalty. It’s based on a single question: How likely are you to recommend the brand? This question is graded on a 10-point scale. Responses between 0-7 are classified as detractors and responses between 9 and 10 as promoters. It can be combined with the Staff Advocacy Score (SAS), which measures the extent to which employees are brand ambassadors.

NPS = % of Promoters – % of Detractors

3. Purchase Intent

Identify the likelihood that people will buy the brand in the near future. It pairs well in conjunction with NPS, because it’s no use if people speak well but then don’t buy.

4. Customer Retention Rate (CRR)

Customer retention rate is an indicator of customer loyalty (or the degree to which a company is able to keep acquired customers).

CRR = Number of customers at the start of a period / number of customers who were still customers at the end of a period.

5. Spontaneous Recall

It measures how many people remember the brand, within their industry, spontaneously. It’s a true indicator of leadership in the industry because it ultimately means that the brand is top of a consumer’s mind when they’re thinking about making a purchase.

Spontaneous recall = (sum of brand mentions / total number of people surveyed) x 100

6. Market Share (MS)

Market share provides a measure of the relative volume a brand has in a given market compared to its competitors.

Relative market share (%) = market share of the organization / market share of the largest competitor.

7. Online Share of Voice (OSOV)

It measures the relative proportion of online mentions of a brand relative to the competition.

OSOV = (Number of Brand Mentions / Number of Brand Mentions next to all of your competitors) x 100

8. Klout Score (KS)

It’s an indicator of social media influence. Taking into account Facebook, Twitter, LinkedIn, YouTube, and other forums, it provides a score between 0 and 100 that is based on a number of criteria, including the size of your network and the level of interactions.

Remember, brands live in people’s hearts and only those who are in great health have the strength to stay there.

If you want to know the health of your brand, we invite you to take our Brand Health Quick Test.

Carlos Puig Falcó

CEO of Branward®

Photos: Shutterstock

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