Totally False: “You can’t measure brand awareness advertising.”
Brand awareness is just like any advertisement: it can -- and should -- be measured.
If you don't see results soon after you start the advertising, then it’s not likely going to work long term. The opposite is also true. Quick results are a good indicator of long-term success.
Here are some basic strategies:
✅ DO: Look for changes in where customers are coming from. Hopefully, you’re using data science or surveys!
✅ DO: Track sales changes over a period of 1 to 3 sales cycles. This period can vary enormously between companies and products.
✅ DO: Estimate customer acquisition costs early; any positive benefits that come later are a bonus. Remember – it’s better to be conservative than optimistic.
✅ DO: Remember that humans typically only remember advertising for a short period of time (generally a few days). Sometimes it’s longer, but not often.
✅ DO: Make sure to have a large enough sample size in both advertising spend and customers to draw conclusions. If your advertising spend is $2M per month and you spend $2K, you’re unlikely to measure the difference (unless you’re *really* good at measuring).
If you need help with measuring brand awareness advertising, our marketing data science firm can assist: www.andcounting.io.
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