Research can be invaluable for brands—an effective study allows marketers to see the both big picture and the details. But it needs to be the right research, conducted at the right time, asking the right questions. Otherwise, you’ll get statistics, but not the insights you want (and need) to build a brand.
Brand benchmarking and measurement/ad effectiveness studies offer marketers a better understanding of how their brand is perceived by consumers, but many marketers don’t know when, or how, to use each effectively. Essentially, brand benchmarking measures brand health and measurement/ad effectiveness measures media performance. Have questions? Good! I’ll explain a bit more about how each of these studies work and when and why you should use them.
Brand Benchmarking: Allows marketers to monitor consumer attitudes and perceptions and establishes key metrics, such as awareness, trial, usage, and sentiment over time. Marketers can also measure loyalty, and gain a deeper understanding of the demographic and psychographic profile of your target consumers—you may even discover that insights that challenge your consumer assumptions. This data helps brands—and their agencies—iterate and optimize to reach those consumers who are more likely to buy and understand how consumers think and feel about your products so you can address any negative perceptions before they hurt your brand or, on the flip side, play up attributes customers love.
Measurement/Ad Effectiveness: Helps marketers understand the effect media has on key brand measures, adding dimension to traditional KPIs and allowing marketers to accurately gauge awareness, purchase intent, ad recall, and demographics. Ad effectiveness studies answer key questions for marketers and offer real insight into whether their ads were effective in driving awareness, purchase intent, and ad recall.
Benchmarking and effectiveness studies can yield outstanding results for brands and should be part of the conversation in the early stages of strategy and planning. Retro-fitting a study is never a good idea and won’t produce quality results.
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