Brand Performance Definition
Brand performance is the process of measuring a brand's results against the goals initially set. Brand performance is highly personal and can vary drastically from one brand to another.
Tips for measuring brand performance
It's essential to have brand goals and objectives already set, document them to see if they are relevant to the company and bring success for the business. Here are some tips for measuring brand performance:
- Define KPIs (Key performance indicators).
- Multiple methodologies may be optimal for delivering metrics.
- Be ready to consider new profitability models (before a disruptor aims at you).
- Use a metric that measures the real return on investment: total ROI.
- Think about your growth.
- Collaborate with your retail partners to maximize your consumer knowledge.
- See beyond channels.
- Calibrate your metrics according to the sophistication of measurement.
- Continually search, learn, and reframe the landscape - and always experiment.