9 KPIs To Measure A Brand: Types And Examples
Learn 9 essential KPIs for tracking and improving brand awareness and positioning effectively.
Average Reading Time: 6 Minutes
KPIs are measurable values that denote the performance of a certain organization, which shows how well the organization is performing in achieving its objectives regarding projects, products, departments, or even business strategies as a whole. A particular set of such monitored KPIs enables an organization to track its progress toward the realization of its objectives and enable it to make relevant adjustments toward the best outcome possible.
KPIs for brand awareness are not a one-size-fits-all metric; they are very carefully selected based on the unique goals of each company and regularly reviewed to keep them aligned with objectives. It is in this regard that this paper examines what a KPI is, why they are important, and the various types available for use in business to understand and improve their impact.
Types of KPI and examples
The nature of the project and the type of objectives to be measured will define the type and example of KPIs that SmartyAds will use.
Some common types with their example indicators would be:
- Financial KPIs: This example of an indicator is in place to measure financial performance, as in the case of a company, by such things as profit margin, return on investment, liquidity, and solvency.
- Sales or commercial KPIs-for example, conversion rate, average ticket, sales cycle. Operational KPIs that appraise internal processes as regards their efficiency and effectiveness, using average response time, error rate, and customer satisfaction. Human Resources KPIs that measure the performance and satisfaction of the staff with fikfap. Examples of this aspect include personnel turnover rate, absenteeism rate, and satisfaction among the people working in an organization.
- Marketing KPI: To this effect, ranking indicators could be measured in terms of the success of marketing strategies on audience reach, click-through rate, and conversion rate.
- Technology KPIs: These include the performance of systems, such as system availability, downtown, and speed of processing.
Now that you have a more general idea of the types of brand awareness campaign KPIs samples that can be taken into account, let's focus on the positioning indicators that most affect the brand: e-commerce marketing KPIs.
Marketing KPIs to measure a brand
The diffusion of a brand is the result of the success of its marketing strategies.
Here are some examples of the different KPIs or brand positioning indicators that you can use to measure brand awareness:
Brand identity
On the other hand, brand awareness is the degree of awareness about a brand in the market. It's how many people know about the particular brand and how many don't. In fact, it is a binary variable; either it is known, or it is not known. To know how to measure brand awareness, we can have a series of spontaneous questions, such as, "Tell me some shoe brands that you know.
It may turn out that 47% of people surveyed
recognize your brand compared to other brands in general, or even 76% compared to other competing brands. Another interesting brand awareness KPI is an understanding of the reach of the audience. That is the number of views or interactions the brand's content gets. In this respect, it can be measured with the help of social media analytics tools, such as Facebook Insights or Google Analytics.
Esteem
It's the degree of satisfaction that a brand provides. Does it meet what the customer wants? Has it been able to keep the brand promise? In case the answer is positive, the brand would have a high level of consideration. The opposite is a case of dismissal or subtraction: that your product or service does not comply with what your brand conveys. This generates a lot of distrust among the public, which lowers regard for your brand. An example is this: if your product or service is on a free trial and gets converted to a paid product, if 80% stay, then the estimate is quite high.
Social media diffusion
The more a brand's content is shared across social media, the more interested and involved the audience is with the brand. This may interest you: how newer social networks are evolving.
CTR - Click-through rate
The number of people reacting to paid posts and advertising campaigns needs to be measured. In the case of ads,
CTR or click-through rate represents the percentage of people clicking on those brand ads across various online advertising platforms, including Google AdWords and Facebook Ads.
Conversion Rate (CR)
A high number of clicks is necessary; even more important, though, is how many people take an action that's desired. Of those clicks, how many go from being strangers to followers, subscribers, customers, etc. That depends, of course, on what the required action is-be it purchasing having seen a brand ad or post or subscribing to an email newsletter. Whatever that may be, this too is a KPI that really does need measuring and certainly does not hurt to look at conversion optimization, or CRO, which could improve this KPI.
Differentiation
The level of compliance in the brand concerning the brand territory. Whether or not the area is "Strategic Business Consulting", we have to be sure our client recognizes us in that territory. Or better still, as the greatest exponent of it. When 68% of respondents in a survey placed us into the business of territory corresponding to our main activity, that means that our differentiation KPI is yielding moderately high metrics.
Familiarity
One brand has high familiarity if the customer knows what a brand can do for him. For example, if the service company brand has 10 different services and he knows 9 of them, it will have high familiarity. On the contrary, if a shoe brand has heels, sneakers, and boots but its customers know only the boots, the brand has low familiarity.
Involvement
Engagement is the degree to which that person can be an ambassador of the brand, or at least talk well about it. There are brands that you use but you will not advertise, because there isn't a large degree of involvement. A large degree of involvement means that the brand is potentially viral, and influencer marketing can bring a lot of joy if you learn how to use it.
To conclude
In all, KPIs remain indispensable tools in the measurement of brand awareness and positioning, as they develop a proper understanding and improvement of a business concern in the light of competitive performance. From brand awareness to social media diffusion, conversion rate, and involvement, monitoring appropriate KPIs provides valuable insights into perceptions and engagement by an
audience. These KPIs help a brand make informed decisions, thus creating strategies that anchor a brand's reputation and long-term success.
