3 Ways To Know If Brand Awareness Gets Your Marketing on Base
How should you measure the value of brand awareness?
I’m asked that frequently by B2B marketers, but they aren’t really asking how to measure it. That answer, of course, involves analytics.
What they want to know is how to connect brand awareness efforts to business value. (And they equate value with more revenue or lower costs.)
It’s tricky.
Connecting brand awareness to revenue or expenses is not unlike figuring out how a baseball player’s statistics relate to the team’s wins. So many other things must happen that pinning wins on a player’s batting average involves a tenuous connection at best.
The value of brand awareness comes from influencing the customer’s perception of your brand. To measure the impact, you’d need to track how your efforts improve that perception over time. And then, even more specifically, you’d need to connect how that improved perception translates into actual business value (e.g., cost savings or revenue).
