A brand is way more than just a logo. Brands encompass the look and feel of products and services that businesses offer. Brand perception is now influenced by customer opinions more than ever.
Most brand owners feel confident that they understand their brand perception and exactly what their brand represents to their customers. However, owners may not have an accurate understanding of the reality of public opinion related to their brand. According to Forbes, marketing analytics are absolutely essential
Who Owns A Company’s Brand Perception?
Most owners believe that they own their brand’s perception. This is not accurate. In reality, brand perception is fully owned by consumers. What matters is what consumers are saying about a business’s brand, not the message the business is trying to deliver. Marketing analytics can help a company understand what consumers think about the company’s brand and what is contributing to this brand perception.
Over time, marketing analytics can reveal how brand perception changes with consumers. Analyzing the marketing analytics of a business’s competitors can help a company better understand their own strengths and weaknesses of their brand perception.
Measure The Consumer Perceptions of Your Brand
The internet is an invaluable source of important information related to how consumers perceive various brands. Social networking sites are extremely traceable and many social networking sites have built-in analytics for shared content. This means that a company can start with zero information about their customers and then harness social media to quickly and accurately build a detailed picture of the company’s brand perception among consumers.
It is important to understand how a company’s brand is perceived by consumers. A solid understanding of this perception can help positively inform business decisions as well as help guide strategic growth directions for any company.
Click Precision said, “An appropriate analysis of various social conversations is vital to understanding and changing a company’s brand perception with consumers.” Listening to the social conversations of consumers can help any brand better understand the various factors that contribute to the company’s brand perception. The insights extracted from the analysis of social conversations can be used in the future in order to help develop effective marketing campaigns. Analysis of consumer perceptions of a company’s brand can help reshape the brand perception as well as increase it.
Know Your Market and Your Customers Well
It’s pretty hard to have an impact on brand perception without knowledge of customer demographic information. A company must know about their customers in order to know what shapes their opinion of a particular brand. Different people will have different experiences of a brand, but marketing analytics can help identify common themes and pattern of consumer experience that have an impact on a company’s brand perception. Fortunately, most social listening tools are already equipped with the ability to pull demographic information related to the conversations a business listens to online.
Measuring Unmet Needs
Analytics related to a consumer’s needs can help a company determine if a product or service is not meeting the needs of its consumer. Identifying unmet consumer needs can help businesses meet those needs and increase consumer satisfaction and positive brand perception. Product reviews and qualitative surveys are very useful tools to measure unmet needs.
Connecting Analytics to Action
The value of marketing analytics goes well beyond marketing. Analytics also can help shape product development, uncover new markets, uncover new consumer niches, and other areas for new development as well as increase brand awareness, shape brand perception, and increase overall consumer satisfaction with a particular brand. Social signals from consumers have a major impact on a company and should be taken seriously.
Opinions about a brand that are expressed on social media play major roles in consumer purchasing decisions. Social media is a powerful source for content advertising. According to Nielson, most consumers (77%) purchasing decisions are heavily influenced by their friends and family.
Proper analysis of social media conversations is the most natural way to reach an audience in order to change and shape a company’s brand perception. Analysis and action are dependent upon one another in order to change and reshape a company’s brand perception.