How do you measure "brand building?"
Are you planning to “build a stronger brand” in 2021? (Who isn’t?) But that goal is kind of fuzzy… how do you actually measure it?
You could use complicated (expensive) solutions… custom “share of voice” tracking for press and social mentions, etc. Or you can get a 90% good enough answer using the tools you probably already have.
Measuring Brand Growth
A strong brand basically means people use your product or service, form an emotional connection (aka really like and trust it), and tell their friends about it. So let’s just measure those things:
Do people like your product? Check for high retention or repeat purchase rates. Do you have a high “likely to recommend" score? Great! That’s half the battle.
Do they tell their friends about it? Is “direct” traffic from referral sources growing? What about people searching for your brand name? (check Search Console or Google Trends). That’s the other half of the battle. 😏 Are you winning it?
Check those metrics and use them to set your “brand strength” target. I hope this helps give more specific metrics to your 2021 planning.