As there are more analytics for specific activities and projects such as websites, events, apps, social media, newsletters, the need for big picture brand overview is growing. Big picture brand analytics must answer a simple question: where is all this going? Revenue is one way to see an immediate customer reaction, but brand analytics should have the possibility to predict the future performance because brand models analyze customers’ perception and not sales which is a result.
These are the top metrics which together reveal the current and future brand performance:
Funds invested in teams and projects related to product design and content prove that management activity is connected to business results.
How much content is published and where. Ideally, also the quality of content should be measured by documenting which values are promoted in each content.
How does the audience react to the content or in some cases products. This is what has been measured mostly so far by Google, Facebook, and others.
Sales & revenue
Revenue is the best short term metric, but it does not necessarily predict future behavior.
Without comparing all or some of the above metrics to competitors’ metrics can be misleading. A big error would be that category trends are confused as brand performance.
It is quite hard to collect all the above data even for micro, small, and medium companies. For enterprises and multinational brands, it is even harder. But the effort should pay off in insights not available with other metrics and intelligence tools.
Having only some metrics can help analyze current and predict future performance, but it is best to collect all data. In case not all data can be collected then customer reactions and revenue are the highest priority.
|Two times Sir Ridley Scott changed the world of brands||Three levels of business competition|