If your company wants to increase its long-term value, you have probably already begun to make branding investments. In the end, excellent branding is a guaranteed approach to connect with your audience and associate your brand with particular qualities or ideas.
However, marketers may determine how a brand campaign affected customer views by assessing brand lift. The ability to connect those perceptions to potential purchasing patterns will enable you to assign a precise monetary value to your efforts. Interesting, huh? To find out more about measuring brand lift, continue reading.
Brand lift measures the actual enhancement of your brand’s overall perception that a particular touchpoint has. Beyond clicks and impressions, a brand lift study should gauge its success using marketing indicators like brand awareness, ad recall, and purchase intent. This provides marketers a deeper understanding of how specific actions affect the value of their brand.
How do marketers measure brand lift?
Brand lift studies are how marketers gauge brand lift. These are often carried out by comparing two target audience segments: one that was exposed to your messaging and another control group. You may learn more about the variations between these two categories and how a certain message affects customers. Marketers utilize a variety of analysis and surveys to gather this data, including:
- Ongoing and Custom Panels
- Consumer Research Surveys
- Brand Impact Surveys
- Sentiment Analysis
Consumers are given a few questions during these surveys and analysis to reveal their subconscious views of your brand.
Best practices for performing a brand lift study
A brand lift study is conducted using one of two major methodologies. They could hire a third party or conduct the study in-house using a cutting-edge marketing performance measuring tool. Whatever strategy you choose, your research must deliver insights while your campaigns are running and must be able to immediately link branding to income.
Once you’ve decided on a method, follow these best practices to conduct a valid study:
Choose an audience and control group: Start by compiling a list of all the customers in your target market. Then, create a small control group that will not be exposed to your campaign.
Choose your channels: After you’ve selected a target audience, look at the channels where they’re most responsive. Then, for that channel, design a branded campaign.
Collect high quality data: While your campaigns are running, make sure you have proper systems in place to collect and get your data. Your insights will be untrustworthy unless you have high-quality data.
Use marketing metrics to measure success: Use marketing metrics like brand awareness or purchase intent to contextualize the data you’ve gathered about an audience’s perception of your brand. Use these brand measures as sales-linked leading indicators for the best results.
Communicate results: The most critical stage in performing a brand lift research is informing senior teams about your results and how they will impact your bottom line. “This campaign increased brand recognition by 10%,” for example. Based on past and expected results, this will increase our overall yearly revenue by 1%.”
Adapt your strategy: The most successful marketing teams learn from their mistakes and build on their previous triumphs. Always leverage prior brand lift study insights to drive future initiatives.
Following these steps will provide you with the foundation for developing a strong brand lift research. Regularly conducting these surveys will guarantee that all members of your organization completely grasp the significance of a strong brand.
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