What is it?
People don’t buy products or services they are unaware of & even if they are aware of your product they may still not buy it if they fail to grasp your marketing message (or if they think your competitors have a stronger message).
Market research can help you understand how well known you product is and how this changes over time. By tracking awareness levels overtime you can monitor the impact of marketing and advertising as well as identifying areas where awareness is particularly strong/weak and targeting your marketing campaigns appropriately in response to this information.
What’s the benefit of it?
Poor awareness of your product / service and poor brand image can act as the most significant barrier to sales and market share growth. To understand your position, awareness tracking and brand mapping research can help you:
- Measure awareness of your product in the market
- How this changes over time
- Measure the impact of marketing campaigns and advertising
- Understand what the market thinks of your products/services
- Understand your position relative to your main competitors
- Develop your marketing plans for future campaigns
When you might use it?
Many people find it is useful to monitor brand awareness and brand image on a regular basis. Other people may wish to monitor the impact of a particular campaign, so that they have some objective measures of ROI – by taking a measurement of where things stand pre and post campaign and comparing the two to see what change has been effected.
Whether you need to focus on measuring awareness levels or brand image or both, depends very much on your needs as a business. If there is low awareness of your brand then monitoring how awareness is changing may well be critical. On the other hand if you know your brand is very well know but might have issues with its image and/or market perceptions of the brand, then brand mapping and competitor comparisons of brand image are likely to be a lot more important.