Consistent brand representation can increase your revenue by up to 23%.
Wondering whether or not your efforts in brand representation are working? The first question you should ask yourself is whether or not you have a brand marketing strategy in place.
If you’ve been investing time and money into building brand equity then it’s time to look at the metrics. Here are a few ways you can know whether your company is doing branding and marketing right.
Clients Can Describe Your Brand
What three words describe your brand? If you can’t answer that then you need to go back to the branding drawing board.
If you ask one of your customers how to describe your brand in three words, can they do it? If they can, then your branding efforts are working.
Anybody should be able to describe a strong brand in three words or less. In fact, as part of your brand marketing strategy, you should try to include this as part of your planning.
What three words do you want your brand to embody and exude? When people interact with your company, what three emotions or sensations should they take away from the experience?
Understanding this from the beginning will help you measure your marketing efforts later down the road. It’s also a great way to ensure that you yourself understand how you’re branding your business.
You’re a Leader in Your Industry
You know you’ve reached success in forming your brand’s identity when you’re considered as a leading authority in your industry.
If you constantly publish blogs that other companies link back to or are being sought out as a strong voice when it comes to anything business-related, then you can bet your branding is working.
This means that other brands are looking to you as the standard to model after. With that comes the fact that you enjoy strong loyalty from customers and a strong influence over the market.
To accomplish this, make sure you’ve created a strong, clear voice. Is your company humorous or informative? Make sure this voice is clear in all of the content you publish.
Consistency is key here. The more consistent you are, the more reliable you will seem to other companies.
Other Brands Want to Work with You
Building successful relationships in business is key to longevity. If you’re not sure whether your branding and marketing efforts are working, take a look at your business relationships.
Do other brands call to work with you? Are you offering your services and expertise to others in a similar industry as a way to form beneficial partnerships?
Working with mutually beneficial companies can help you form partnerships that increase reach and revenue. Adidas saw a 57% boost in brand value thanks to the partnerships they formed.
Instead of talking about who you are as a company, form a partnership with another organization that can help show what your brand is all about.
If you offer car cleaning services, for example, you can partner with an eco-friendly cleaning product company. This will show your target audience that you walk the walk when it comes to your eco-friendly branding.
Positive media in the form of co-marketing videos can help increase this effort. It’s also a great way to take advantage of shared resources such as their audience base and the confidence they’ve built with them.
You’re Reaching Your Desired Market
You can measure the growth of your online market reach by measuring the number of followers you have on social media. You can also measure your campaign reach with metrics like conversions, signups, or sales.
However, when it comes to how to build brand equity, you can measure your work by whether or not you’re reaching your desired market.
Experts note that for a branding campaign to truly be successful, it should both:
- Increase the exposure of your company
- Provide you with measurable and continued engagement
If you’re not seeing increases in these two areas, then it’s time to revisit your strategy. Take a look at why people aren’t sustaining their engagement with your brand. Perhaps it’s because you’re targeting the wrong market.
If you have reached your desired market, congrats! This means that your value branding is paying off and that you’re sending clear, consistent messages to the people who want to interact with you.
People Are Talking About You
Look on social media. Are people talking about you? Are they using a special hashtag that’s specific to only your company?
If so, then you’ve developed strong branding skills.
Whenever you see a healthy discussion of your brand online and on social media platforms, it means that your marketing and branding efforts are working. You can measure this by taking a look at how users are commenting, referencing and interacting with your company online.
One of the most important aspects of strong branding is consistency in messaging. This is true of the way you present your company as well as how you run social media campaigns.
Focus on adding value while still keeping your product or service the star. This will help you create authenticity and ensure you’re not getting overly promotional as you increase your awareness of metrics.
Branding and Marketing Feels Easy
If you’ve built a great branding and marketing strategy, then you’ll know it’s working when it feels easy to keep building it.
Be sure to stay on top of this from the beginning. Develop a strong mission statement and work to cultivate a branding strategy that you can follow as your company scales and grows. Tweak this as you receive results and metrics based on your marketing campaigns.
If you have created a solid strategy from the beginning, it will begin to feel easier with time to get the results you need.
Knowing where you want to go will help you get there. If you’re not sure where to start, take a look at our marketing services. We’ll work with you to understand your company’s specific needs and goals.