Complete List of Brand Metrics to Drive Business Growth

Complete List of Brand Metrics to Drive Business Growth

Brand metrics and analytics are the symptoms that can tell you how well your brand is doing and

Understanding and optimizing your brand’s performance is not just looking at sales figures. Brand metrics offer deeper insights into how consumers perceive and interact with your brand.

From gauging customer loyalty to measuring ad relevance, these brand measurement metrics are important in brand monitoring and ensuring your brand health remains robust.

In this blog post, we’ll go over 22 key brand metrics that every business should track, helping you decode the intricate narratives behind the numbers.

Table of Contents

  1. Brand Awareness
  2. Brand Sentiment
  3. Mentions/Engagements
  4. Share of Voice (SOV)
  5. Brand Recall
  6. Brand Recognition
  7. Brand Equity
  8. Net Promoter Score (NPS)
  9. Brand Consistency
  10. Customer Lifetime Value (CLV)
  11. Customer Satisfaction
  12. Purchase Intent
  13. Brand Loyalty
  14. Brand Advocacy
  15. Top-of-Mind Awareness
  16. Conversion Rate
  17. Return on Branding Investment (ROBI)
  18. Branded Search Volume
  19. Brand Positioning
  20. Cultural Impact
  21. Relevance Score
  22. Customer Churn Rate

{Updated on 09/10/2023} 

1. Brand Awareness

Brand Awareness refers to the extent to which consumers recognize and remember your brand either spontaneously or when they see or hear about it. A strong brand awareness means more people are familiar with your brand, its products, or services, which can lead to higher sales and a stronger market position.

Example of Brand Awareness: If you were to ask a random group of people to name a brand of soda, and a majority instantly mentions “Coca-Cola,” that indicates high brand awareness for Coca-Cola.

How to Measure Brand Awareness: One common method is through brand monitoring tools.

Read our complete guide on How to measure brand awareness, in which we throughly explained how you can measure this important metric.

2. Social Brand Sentiment

Brand Sentiment on Social media refers to the feelings, attitudes, and perceptions consumers hold towards your brand. It can be positive, negative, or neutral. Understanding brand sentiment can help businesses gauge public perception and make necessary adjustments to their strategies.

Example of Brand Sentiment: After launching a new environmentally-friendly product, if online discussions predominantly praise the initiative, that indicates positive brand sentiment.

How to Measure Social Brand Sentiment: You can use social listening tools that analyze comments, reviews, and discussions about your brand. These tools often categorize feedback as positive, negative, or neutral.

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3. Mentions/Engagements

Mentions refer to how often your brand is discussed across various platforms. Engagements, on the other hand, represent the interactions people have with your content, such as likes, shares, and comments. Monitoring these metrics can give you insights into the popularity and relevance of your brand.

Example of Mentions/Engagements: If a celebrity tweets about your product and it gets retweeted thousands of times, that’s a high number of mentions and engagements.

How to Measure Mentions/Engagements: Use a mention tracker that track brand mentions across the web.

Respond to Twitter Mention Wendys Example

Source: X (Twitter)

4. Share of Voice (SOV)

Share of Voice (SOV) measures how your brand’s presence or mentions compare to your competitors. It helps in understanding your market position and how much attention your brand gets relative to competitors.

Example of Share of Voice: If in the smartphone industry, Apple gets mentioned 50 times and Samsung gets mentioned 30 times, Apple’s SOV is 62.5% (50 mentions out of a total 80).

How to Measure SOV: You can use media monitoring tools to track brand mentions for you and your competitors. Calculate the ratio of your brand’s mentions to the total mentions in your industry.

Share of Voice in Mentionlytics Reports

Share of Voice in Mentionlytics Reports

5. Brand Recall

Brand Recall gauges how well consumers can remember your brand without any visual or auditory prompts. It’s an indicator of how deeply your brand has penetrated the consumer’s mind.

Example of Brand Recall: When asked about a brand of sports shoes, if most people spontaneously mention “Nike,” that indicates strong brand recall for Nike.

How to Measure Brand Recall: Surveys are the most common method. Ask participants to name brands in a specific category without giving them any clues or prompts.

6. Brand Recognition

Brand Recognition measures the ability of consumers to identify your brand based on visual or auditory cues, such as logos, slogans, or jingles. It’s about immediate brand recall upon exposure to brand elements without the brand name itself.

Example of Brand Recognition: When you see a “swoosh” symbol and instantly think of Nike, that demonstrates strong brand recognition for Nike.

How to Measure Brand Recognition: Use surveys that show participants brand elements without revealing the brand name. Ask them to identify which brand they associate with those elements.

A screenshot of a brand audit feedback survey template by SurveyMonkey

Source: SurveyMonkey

7. Brand Equity

Brand Equity refers to the value and strength a brand brings to a product or service, often seen in terms of consumer perception and loyalty. High brand equity means consumers are willing to pay more for a product with a recognizable brand than its generic counterpart.

Example of Brand Equity: Apple products often command higher prices than comparable tech products. This premium is partly because of the strong brand equity Apple has built.

How to Measure Brand Equity: It can be measured through brand valuation (financial worth), consumer perceptions (surveys), and the premium consumers are willing to pay over generic products.

8. Net Promoter Score (NPS)

Net Promoter Score (NPS) is a metric used to gauge customer loyalty and satisfaction. It’s calculated by asking customers one question: “On a scale of 0-10, how likely are you to recommend our product/service to a friend or colleague?” Based on answers, customers are categorized as Promoters (9-10), Passives (7-8), or Detractors (0-6).

Example of NPS: If out of 100 respondents, 70 rate you as a 9 or 10, 20 as 7 or 8, and 10 as between 0 and 6, your NPS is 60 (70% promoters minus 10% detractors).

How to Measure NPS: Conduct a survey asking the NPS question and categorize responses. Subtract the percentage of detractors from the percentage of promoters to determine the score.

Bonus: Best Customer Feedback Tools to Elevate Your Products and Services

9. Brand Consistency

Brand Consistency pertains to how uniformly your brand is presented and communicated across all platforms and touchpoints, including visuals, messaging, and experience. Consistency reinforces brand recognition and trust among consumers.

Example of Brand Consistency: McDonald’s restaurants, no matter where they are in the world, have a similar look, menu, and feel. This uniformity is brand consistency in action.

How to Measure Brand Consistency: Conduct an brand audit across all touchpoints (website, advertisements, physical stores) to check for uniformity. You can also use customer feedback to identify inconsistencies.

10. Customer Lifetime Value (CLV)

Customer Lifetime Value (CLV) represents the total net profit a company makes from a customer throughout their relationship. It helps businesses determine how much to invest in acquiring and retaining specific customers.

Example of CLV: If a customer subscribes to a service for $10/month and remains a subscriber for 5 years, their CLV is $600 (excluding any additional costs or profits from that customer).

How to Measure CLV: Calculate the average amount a customer spends per transaction, multiplied by the number of repeat transactions, and then subtract the initial cost of customer acquisition.

11. Customer Satisfaction

Customer Satisfaction gauges how content consumers are with your product, service, or overall experience with your brand. High levels of customer satisfaction typically correlate with repeat business and positive word-of-mouth.

Example of Customer Satisfaction: After using a new skincare product, 90% of users report smoother skin and express happiness with their purchase.

How to Measure Customer Satisfaction: Surveys are a common tool, where you ask customers to rate their satisfaction on a scale (e.g., 1 to 5 or 1 to 10). Feedback forms and online reviews are other methods to consider.

12. Purchase Intent

Purchase Intent measures the likelihood of consumers buying your product or service. It’s an indicator of sales potential and helps businesses forecast future sales and strategize accordingly.

Example of Purchase Intent: In a survey of prospective car buyers, 70% state they are “very likely” to buy Brand X’s new model within the next six months.

How to Measure Purchase Intent: Directly ask consumers in surveys about their intent to purchase your product or service in a given timeframe. Responses can be categorized, such as “very likely,” “somewhat likely,” or “not likely.”

13. Brand Loyalty

Brand Loyalty reflects the commitment and repeat patronage of consumers to a specific brand, even when there are other available options. Loyal customers are less likely to switch to competitors, often regardless of price differences or availability.

Example of Brand Loyalty: Despite other coffee shops offering discounts, a group of customers consistently chooses to visit Starbucks for their daily coffee fix.

How to Measure Brand Loyalty: Track repeat purchase rates over time. Surveys can also be used, asking customers about their likelihood to choose your brand over competitors in the future.

14. Brand Advocacy

Brand Advocacy happens when satisfied customers actively promote and recommend your brand to others, often through word of mouth, online reviews, or social media sharing. These advocates amplify your brand’s reach and credibility.

Example of Brand Advocacy: A tech enthusiast purchases a new smartphone, loves its features, and writes a glowing review online, encouraging others to buy it.

How to Measure Brand Advocacy: Monitor online reviews, social media mentions, User-Generated Content (UGC) and recommendations. Tools like the Net Promoter Score (NPS) can also help, as “Promoters” are often brand advocates.

Pedigree-UGC-marketing-on-Instagram

Source: Instagram

Bonus: Here’s a step by step guide to find influencers on social media for your brand that help you to increase your brand advocacy.

15. Top-of-Mind Awareness

Top-of-Mind Awareness is a subset of brand awareness. It refers to the first brand that comes to a consumer’s mind when thinking about a specific product category. This brand typically occupies a dominant position in the consumer’s memory.

Example of Top-of-Mind Awareness: When asked about a brand of fast-food burger chains, if the first name that most people think of is “McDonald’s,” that shows McDonald’s has top-of-mind awareness.

How to Measure Top-of-Mind Awareness: Use unprompted surveys. Ask respondents to name the first brand they think of in a particular category without giving them any options or cues.

16. Conversion Rate

Conversion Rate is the percentage of visitors to your website or users of your platform who take a desired action, such as making a purchase, signing up for a newsletter, or filling out a contact form. It’s a key metric to gauge the effectiveness of your marketing campaigns and website design.

Example of Conversion Rate: If 100 people visit your online store and 5 of them make a purchase, your conversion rate is 5%.

How to Measure Conversion Rate: Divide the number of successful conversions by the total number of visitors, then multiply by 100 to get the percentage.

17. Return on Branding Investment (ROBI)

ROBI quantifies the financial returns your branding efforts yield compared to the costs incurred on branding initiatives. It provides an understanding of how effective your branding investments are.

Example of ROBI: If you spend $10,000 on a rebranding campaign and see an increase in profits of $50,000 attributed to this effort, your ROBI is 400%.

How to Measure ROBI: Subtract branding costs from the financial gains attributed to branding, then divide by branding costs. Multiply the result by 100 for the percentage return.

18. Branded Search Volume

Branded Search Volume measures how often people search for your brand name or branded products on Web or social media search. High branded search volume indicates strong brand awareness and interest.

You should use keywords monitoring set for your brand name (or branded product names) to be the first one to learn if someone talks about you..

Example of Branded Search Volume: If there’s a surge in people Googling “Nike Air Max” after a new release, that’s an increase in branded search volume.

How to Measure Branded Search Volume: Use search analytics tools like Google Trends or Google Ads’ Keyword Planner to monitor the frequency of brand-specific search queries.

19. Brand Positioning

Brand Positioning relates to how your brand is perceived in relation to competitors in the market. It’s about carving a unique space in consumers’ minds, differentiating your brand based on factors like quality, price, usage, or users.

Example of Brand Positioning: Tesla is positioned as a luxury electric vehicle brand, emphasizing innovation and environmental sustainability.

How to Measure Brand Positioning: Conduct market research and surveys, asking consumers about their perceptions of your brand compared to competitors. Analyze how your brand attributes stack against rivals.

20. Cultural Impact

Cultural Impact measures how much your brand influences culture, values, behaviors, or societal trends. Brands with a significant cultural impact often transcend their product or service category and become part of broader societal conversations.

Example of Cultural Impact: Apple’s “Think Different” campaign not only promoted their products but also resonated with a broader message of individualism and creativity.

How to Measure Cultural Impact: It’s subjective and can be gauged through qualitative research, social media sentiment, media mentions, and the extent to which your brand is part of mainstream conversations.

21. Relevance Score

Relevance Score assesses how pertinent your ads are to your target audience. Platforms like Facebook provide this score based on feedback and engagement, helping advertisers optimize their campaigns.

Example of Relevance Score: An ad for snow boots may have a high relevance score among users in colder climates but a lower one among those in tropical regions.

How to Measure Relevance Score: Platforms like Facebook Ads provide a relevance score for each ad, taking into account user feedback and engagement. Monitor and adjust ads based on these scores.

22. Customer Churn Rate

Customer Churn Rate represents the percentage of customers who stop using your product or service within a specific timeframe. A high churn rate might indicate dissatisfaction with your offering or better competitive alternatives.

Example of Customer Churn Rate: If you started the month with 100 subscribers and lost 5 by the end, your churn rate for that month is 5%.

How to Measure Customer Churn Rate: Divide the number of customers you lost during a period by the total number of customers at the beginning of that period. Multiply the result by 100 to get the percentage.

Measure Your Brand Metrics with Mentionlytics

Mentionlytics is a powerful brand monitoring tool designed to help brands navigate their online presence easily.

Mentionlytics Dashboard

Mentionlytics Dashboard

With Mentionlytics, you can effectively measure key metrics that are pivotal in assessing your brand’s health and resonance:

  • Brand Awareness: See how familiar consumers are with your brand.
  • Brand Sentiment: Gauge the overall feelings towards your brand.
  • Mentions/Engagements: Track all social mentions and discussions and interactions around your brand.
  • Share of Voice (SOV): Compare your brand’s market presence against competitors.

But Mentionlytics isn’t just about raw data; it brings intelligence into the mix.

With its AI tool, SIA, brands can benefit from AI-powered recommendations. SIA analyzes the vast amount of data collected and offers actionable insights, ensuring that you’re not just informed, but also equipped to enhance your brand strategy.

With Mentionlytics, you’re not just monitoring your brand, you’re empowering it. Try it for free!

Try Mentionlytics for FREE

Rezvan Golestaneh

About Rezvan Golestaneh

Content manager at Mentionlytics who likes to write about social media! She's a Potterhead, resistant to caffeine overdose, and loves listening to music she's never heard before.

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