Brand awareness is a crucial component of any business strategy. It ensures that the consumers know and understand the product and goals of the company. A brand awareness study enables you to know the percentage of target customers aware of your brand.
To form a complete marketing strategy, brand recognition and brand recall is the first step. It creates the top portion of your sales funnel. The more your brand is recognizable; the better lead generation happens in your sales funnel.
Therefore, giving brand recognition studies proper importance is a must for every company. In this article, we will discuss various aspects of brand recognition studies.
What is Brand Recognition?
Brand recognition is the ability of the customer to identify and recognize a particular brand.
When people are exposed to several products, they tend to recognize some of them immediately. This is a likely situation in supermarkets where the consumer is presented with a selection of brands. In this situation, the customer tends to choose the most recognizable brand that comes to their mind.
On the other hand, some brands come automatically to the consumers’ minds even when they aren’t presented with choices. For example, whenever you think of luxurious cars, Mercedes, Rolls Royce, BMW comes to mind.
The most successful recognition comes when the consumer is aware of your brand without being explicitly exposed to the name. If the consumer recognizes your brand by visual or auditory cues, such as jingles, packaging, or logos, it adds more value to branding.
Brand recognition is crucial for new companies that still need to solidify their presence to their target audience. It allows them to reach their target customers and market their products effectively.
Brand Health Study
Brand health study allows you to determine how people know your brand. It is very crucial to form your market strategy and uphold your brand’s image. While conducting your brand health study, you should consider the following studies:
- Brand Image Study: In this study, you gather feedback from both external and internal sources to know how your consumer’s perception matches your brand’s identity.
- Brand Trust Study: Trustworthiness is a great asset to have in your corner. There are numerous businesses online. Therefore, if you want your consumers to come back to your business, you will need to build a strong trust-based relationship with them.
- Brand Loyalty Study: Brand loyalty enables your loyal consumers to transform others into your consumers. However, you will need to know the frequency of customer transformation by calculating loyalty levels.
- Customer Profile Study: Change in your customer base determines where your business is going. According to your customer change, you will need to pivot your product or message or both accordingly.
How to Conduct Brand Recognition Studies?
There are mainly two ways to conduct your brand recognition study, online survey, and telephone survey.
More and more companies are now leaning towards online surveys for convenience. As more people are now using electronic devices, smartphones and accessing online for a prolonged time, online surveys are becoming more efficient.
However, if a company can assure high convenience, talking through the phone can bring more personalized results.
Pros and Cons of Online Survey
Pros:
- Online surveys are more convenient as the customers can respond at any time.
- Online surveys cost less than traditional telephone and in-person surveys.
- You can sample faster with online surveying.
Cons:
- Most online forums maintain anonymity. Therefore, some vital information gaps can be presented.
- You cannot get further clarification in an online survey.
- Online surveys require a certain amount of technological expertise. It can make some audiences unavailable to participate in the survey.
Pros and Cons of Telephone Survey
Pros:
- You can target people of specific demographics and locations for your survey
- Telephone surveys allow you to gather in-depth information about your branding
- Telephone surveys are more personal than online surveys
Cons:
- Telephone surveys are costly and time-consuming
- With telephone surveys, it will take a longer time to generate and sort samples properly.
When to Run Your Brand Recognition Study?
Conducting brand recognition studies once a year gives you a perspective of what you are doing right and what needs more work. However, it is also a good practice to run the study before launching a new marketing campaign.
Your brand recognition survey is a benchmark of your branding initiatives. It works as an indicator of the performance of your branding initiative. With proper analysis, you can increase your branding success and have better results in the future for your company.
With new marketing strategies, you are reaching new prospective customers. Therefore, you need to make sure that your branding resonates with your company’s morale. Also, it allows the consumers to find and learn about your products and services.
Without proper study, your branding opportunities fail. When your branding fails, it hurts your company severely.
Final Words
Branding recognition studies show you how easily you can reach your consumers with your product. For any business, this is a crucial metric for success. Therefore, careful surveys and evaluations are essential for this initiative.
The goal of brand recognition is to make your customer think about your product whenever they need it. And for successfully doing that, there is no alternative to thorough research. You can also look for online survey software to help you conduct these surveys.
