Is your brand tracking fit for purpose?
Your brand is your most valuable intangible asset. A strong brand helps you to grow your business and helps to ensure profitability through justifying a higher price. As Mark Ritson says, ‘if you’re not tracking your brand then you’re not managing your brand’. So, it’s perhaps no surprise that the majority of businesses have some form of brand tracking in place. Without tracking, how will you manage, steer and course correct your brand?
So what does a good tracking study look like?
We have put together what we are calling our Top 10 of brand tracking. 10 posts, that in combination aim to provide the most valuable advice we can based on our combined experience.
8. Use modules for deeper diagnostics
A common trap fallen into on tracking studies, is to try to measure everything (or at least as much as possible) all the time. This is costly, boring for respondents, risks damaging the data quality as people pay less attention to the questions and even jeopardises people taking part in research surveys in the future.
If you’re running a continuous tracking study, think carefully about what you really need to measure on a continuous basis. In our experience 8 minutes of questions is often enough. Doing this, leaves you space to add modules to the tracking to evaluate campaigns when they run, address live business questions, or to understand things like market effects (more about this in tip no 4).
In keeping a lean core and running a rolling programme of modules, you have the opportunity to transform a tracker into an insight platform – bringing new learnings to the business regularly as well as a constant monitor on key brand KPIs.
