Brand tracking is about having data that illustrates how consumers recognize, associate, and perceive your company or products.
This data is important for
Without this info, everyone within a company is basically making decisions in the dark and off of assumptions about consumers; how do companies know if the brand identity they are putting out there is A) well received and B) successful?
Having continuous knowledge on the likability/dislike or your company/products, value for money, quality level, brand awareness, etc. should shape the actions that you take, to ensure you meet your goals and recognize potential opportunities.
When choosing your brand tracking supplier there are three key points you should pay attention to in order to make sure you get the best setup for you and for your brand:
If they use a fixed group of respondents, how do they make sure your results keep up with population changes and shifts in the social and cultural landscape. This affects the data quality and though data indicating your brand is improving or doing well is always really nice, the data you need is those who will really keep you in the know of how you are doing.
If your supplier uses a 3rd party provider for the sampling, make sure it does not cost you any delays in getting the insights you need – or choose a provider that don’t work with middleman agencies for sampling.
You already have enough on your plate, so make sure your provider makes brand tracking a walk in the park for you with just one point of contact, an established approach and a dashboard/report setup making it easy for you to implement the results in your work and decision-making.
These are the three main points I often see brand managers struggle with, because they either haven’t researched their supplier well enough or their engagement with their research partner has grown organically over time and it’s now a hot mess of setups, different methodologies across countries, different contact people that they have to coordinate with etc.