Brand momentum refers to the quality of the brand’s market position and the ability to grow over the competitors. Brand momentum should be perceived as the general view that the company is exciting and is a company with products that must be tried and watched for.
There are three components of the brand momentum:
- Mass is the relevance of a product’s value position.
- Speed is the company’s agility to keep up with the field changes and adapt to them.
- The direction is equivalent to what the consumers understand from the brand, such as vision and brand integrity. This factor means the brand reputation in the customer’s eye, how well the company is doing to satisfy the buyers.
Six elements can impact brand momentum:
- How important are your promises to a customer?
- Do you help your customers gain money?
- How important is the category of your product to customers?
- How well can you deal with the changes in the market?
- Does the CEO brings life to the brand?
- Do you practice what you preach?
Brand momentum can get a high score by these measures:
- I’ve heard a lot more about this brand lately
- I think this company is evolving
- It has become more dynamic and progressive