Can your brand get sick? Not really — but it can suffer from bad customer reviews, unfavorable PR, and more. That’s why it’s vital to measure brand health.
According to a report by Edelman, 81% of consumers need to be able to trust a brand before buying from it. Consistently tracking and analyzing your brand health can help you generate and maintain trust with your audience, including existing and new customers.
In this article, we explain in detail what brand health is, how to track it, and how to safeguard it. Let's break it down.
What is brand health?
Brand health is a collection of metrics around your brand used to represent the customers’ perception of your brand, products and services, public image, and communication. In simple terms, it helps to examine if people are happy with your brand, what aspects of it they highlight, and in what way.
It’s important to note that brand health goes beyond customer satisfaction with your products and services and encompasses your branding as a whole.
Brand health metrics provide an insight into the efficiency of your brand, and answer questions like:
How does your brand affect your business?
How reliable is it?
How does your brand connect with your customers?
How strong is it against your competitors?
By getting these answers, you can better understand if your brand is thriving or ailing. Your task as a marketer, online reputation manager, or PR specialist is to detect and solve issues before they’re fatal.
Why is measuring brand health important?
The better people feel about your brand, the more customers turn into brand advocates and devoted followers on your social networks. They want as many people as possible to know about your products and services and help boost your brand awareness.
On the flip side, dissatisfied consumers publish angry reviews on Yelp, dislike your posts on Facebook, and mention your brand in hot discussions on Reddit. This also boosts your brand awareness — and the notoriety of your company.
That’s why you need to detect any spikes in your brand mentions online. It helps you prevent reputation crises and also provides feedback for how you can improve your products, services, and overall brand.
Brand Health Metrics
NET Promoter Score (NPS)
Share of Voice (SOV)
There is no one formula to check your brand health quickly and easily. Instead, it’s like being an air traffic controller looking at a dashboard with dozens of indicators. You must track them all at once in order to detect any problems.
Below let’s look at what indicators you need to have on your dashboard.
1. NET Promoter Score (NPS)
NPS shows whether your brand is “healthy” or not by comparing the number of positive and negative online mentions dedicated to your company. Here is a formula:
Net Promoter Score = % of positive mentions - % of negative mentions
For instance, you want to determine your NPS on Yelp. First, you need to know how many positive and negative reviews your brand earned in absolute and percentages. Then, subtract positive from negative to get your NPS.
The higher number you have, the better your online sentiment is. It means people would rather like your company than dislike it.
If you get a negative number, take steps to save your reputation! Primarily you can start searching for all negative comments and reviews on the web and replying to them.
Manual measuring NPS is a bit of a tedious task. You need to read and analyze all comments and reviews where your brand is mentioned on forums, social networks, and review sites. Sometimes, your customers’ attitude is not the scores you earned.
2. Share of Voice (SOV)
You don’t understand how much of the market your brand takes up without benchmarking your metrics to your competitors. That’s why you need to track the competition and analyze their results, too.
SOV is the percentage of your brand mentions over the Internet compared to other companies in the industry. This metric indirectly points to your brand awareness and reveals how many people know about your products or services.
For instance, Oatly and Alpro have 26.8% and 73.2% of mentions on the web, respectively. The SOV of Alpro is bigger. However, it doesn’t mean that plant milk lovers prefer Alpro against Oatly products. That would indicate that more people recognize this brand and write something about it online.
3. Brand Reputation
It’s hard to measure this metric by numbers since brand reputation contains many aspects of your company’s image. Measuring brand reputation means analyzing different metrics that give you an idea of how your brand is perceived by customers.
Pay attention to the volume of your mentions online. How many people know about your company? Have you any mentions in influential blogs, news sites, and social communities? Where in the world is your product or service known better?
SOV and NPS (or online sentiment) are important indicators, too.
Tracking PR campaigns helps you measure how often content about your brand is being shared or written about in media outlets.
Finally, you can count how many followers on social pages and visitors of your website you have. Regularly monitoring your success with emails, PPC, newsletters, YouTube clips, and landing pages is a reliable way to look at your brand reputation as well. In the end, brands from customers’ bad books hardly can earn many views and likes on video platforms.
4. Purchase Intent
It is another complicated metric in the list. In simple words, purchase intent is a customer’s readiness to buy from you.
Usually, selling your products or services, you deal with four different groups of customers. They are on different stages of a customer journey. Take a look at the table to understand what I mean.
What are customers doing?
Purchase intent status
Search for products or services they need on the web, read blog posts, how-to articles, watch interviews with experts and infomercials.
Informational — “What options do I have?”
Having a couple of brands as options, customers look for reviews dedicated to them, read comparison pages, download white papers from your webpage or even sign up for a trial.
Navigational — “What is an optimal option for me?”
Add items to cart, book demos, check pricing pages.
Transactional — “How much does the best option cost?”
You can ask: where is the fourth group? The point is all customers described above are active. However, there are passive ones who have not yet started their journey as your potential buyers. This is a group with passive purchase intent. For now, these customers are not going to buy your product because they don't need it. But they might do it in the future.
Of course, the fewer prospects in the passive group you have, the better your brand health is. To check this indicator, pay attention to how many people don’t buy from you after they used the trial, how many clients with expiring contracts you have, what your customer’s churn rate is (the number of people who bought from you just once and move out from the list of your customers).
On the flip side, unsatisfied’ competitors’ customers are buyers with passive purchase intent, too. However, this is another marketing story.
5. Brand Equity
This complex metric shows the value of your brand. Financially, this is the value that you gain from your brand name recognition compared to a generic equivalent (Investopedia). Simply saying, it reveals how much more you earn thanks to the brand. Selling just sneakers, not Nike, or just laptops, not Apple, will hardly bring you a million-dollar profit.
Brand equity is a blend of several ingredients such as consumer perception, familiarity, quality, consideration, and the resulting value.
On the web, you can find a lot of lists with the most valuable brands or the brands of the year that consulting, trend watching, and research firms provide. For instance, here is the Harry Polls list for 2021 (you can find there the results for previous years).
Measuring brand equity is a fascinating task indeed. Primarily, it is because of a plethora of approaches you can use. For example, you can calculate the total amount of money you spent on building a brand from the start till date (a historical method). Also, you can take the price difference between the branded product and a generic one and then multiply it with the total branded sales volume (price premium method).
Additionally, all the metrics described earlier give you an idea of your brand equity. When your company’s online sentiment is OK, your share of voice is bigger than your competitors have, and you have enough customers, your brand performs well.
Brand Health Tools
Unfortunately, there’s no single tool that lets you measure brand health with the click of a button. However, there are plenty of tools that can automatically gather and display the mutliple metrics related to brand health.
Take a look at some of your best options below. By the way, you can sign up for a free trial for any of them!
Awario is a social listening and media monitoring tool that provides all the data you need to check your brand health. Awario scans social platforms (e.g., Twitter, YouTube, Reddit), blogs, news sites, and other online sources, turning this information into easy-to-read analytics.
Simply type in your brand name, choose your language, location, and date range to start. Additionally, you can use industry-related keywords or your CEO’s name to expand your search. There is also a Boolean mode for advanced search fans. Then, wait for a couple of minutes and enjoy the stats.
For instance, you can check Topic cloud to understand what keywords and hashtags your brand is associated with. The Sentiment graph indicates whether your customer perception of your company is good or not. You can also dive into all brand mentions to reveal where on the web people are talking about you, who they are, and what they are discussing. Finally, go to the Alert comparison tab to benchmark your results against your competitors (including Share of voice).
Pricing: $39/mo for the Starter plan, $119/mo for Pro, and $399/mo for Enterprise. You can save up to 40% with a yearly plan.
Brand24 provides similar features to Awario. By analyzing your mentions — an industry-related keyword or brand name — on Twitter, Instagram, Facebook, podcast, news sites, and forums, this tool gathers various analytics around brand health.
To navigate the data, you can use filters such as sentiment, influencer score, the mention importance based on the popularity of a source, and the engagement rate of a post. Also, Brand24 estimates your brand reach on social and non-social platforms, and calculates the number of user-generated posts, videos, and likes. Additionally, the tool indicates how much money you would have to spend on ads promoting your company.
The comparison feature enables you to analyze your competition. You can see what company earned more online mentions (including negative and positive ones) on various online platforms.
Pricing: Plus is $59/mo, Premium is $119/mo, Business is $179/mo, and Max is $299/mo. You can get two months free with a yearly plan.
Mentionlytics provides informative charts around your brand mentions everywhere on the Internet. Mentionlytics searches for your brand name or keywords on Instagram, Facebook, LinkedIn, Reddit, YouTube and shows the results on a dashboard with graphs and pie diagrams dedicated to different sources.
You can use filters to see all Twitter replies or YouTube comments only. Also, you can sort the data by source, country, sentiment, relevance (normal or strict), language. The Share of voice metric is available as well.
The Mentionlytics reporting feature helps you get marketing insights around your brand. For example, the tool detects significant articles and posts in terms of reach, engagement and sentiment, social profiles with suspicious behavior, and popular hashtags.
Pricing: $99/mo for the Essential plan, $199/mo for Advanced, $299/mo for Pro, and $450+/mo for Agency. You can save two months with a yearly plan.
Keeping Your Brand Healthy
Regularly checking your brand health indicators works is like health screening: it helps you detect the first signs of dangerous diseases and heal chronic illnesses. These preventative measures are always cheaper and more effective. If you start today, you can ensure your brand is OK and ensure it’s strong and prosperous in the future.
Originally published Mar 2, 2022 7:00:00 AM, updated March 02 2022