Performance of a brand points out how successful a brand is in the market while aiming to evaluate the strategic success of the brand. Most companies believe that the performance of the brand can be evaluated in two parts, brand market performance and brand profitability performance. The companies believe that brand profitability performance is an index of the financial share of a brand in the relations with the profits and is evaluated using the margin of profit whereas the brand market performance considers the market demands and evaluates sales levels and market shares.
Many businesses do not focus on the performance of their brand as they are focused on making money while sitting back and developing the company and allowing the staff and management to conduct meetings themselves. It is important for businesses to realise that it is essential to conduct research, look and learn from different business models to attain success. To ensure that the business is goingto be a success and is performing well in the market it is important that there is someone to mentor or guide the company.
Just as there are coaches in sports who prepare them to perform well on the field or coaches who prepare musicians on how to conduct themselves in front of the media, businesses also require mentors to assist them. A good brand strategist is someone who can help the brand with important elements of the industry and look at the brand locally while taking the brand through issues, fix them and create a good brand strategy with worthy imagery, voice and brand awareness with key points of where to target it, how to target and how it should be perceived.
Financial guidance is also very important when growing a business as it shows where the company is spending and the expenditure of the company. Hence how a company approaches and manages a business is important as it helps figuring the performance of the business and how the systems work which can help in exceling and paying attention to all areas equally. A business can set three goals per day, per week, per month, per year , three goals for life which will help them achieve all their aims.
Digital marketing has never been more important and with the growth in mobile technology to access brands and businesses, making complete use of the digital content available is vital for a successful marketing strategy. The best way to improve a brand’s performance is to work on short-term improvements to create a boost not just to the business but also enthusiasm and confidence for working with the brand. A brand should be clear on what they are communicating to the audience. The brand cannot perform at its best if the company behind it does not have a clear view on what they want to say.
It is important to take time and make sure that everyone knows what they want to communicate and how. It is essential to ensure that the brand is aligned across ever platform, regardless how they want to communicate with the customers. Brands should keep an eye on their social media platforms and other avenues of communications. It is important to keep in touch with what the customer base is trying to say and why. Brands should use the reports from social media to guide strategy on enhancing performance in the short to mid-term.
While it is important to use analytics, it is also necessary to use tracking. It is important for marketing to talk to the digital teams in the company as information such as app usage, website analytics and other key measurements will not be missed out. By missing important information regarding digital analytics will not allow the brands to determine which areas are working and which could improve. By keeping clear communications in place amongst departments will help spread essential information in all areas that are needed.
Search Engine Optimization can make a huge difference to a brand’s performance. Google’s changes to how search results are ranked have meant that content and SEO needs to be carefully curated in order for the company pages to hit high enough in the result pages. Search engine optimization, awareness of how it works how it impacts and improves digital performance is key to a strong brand to achieve results. It is vital that a brand takes time to evaluate their website, the content on it while making sure everything still works as it should.
Updating the site regularly is an important factor as it will help in the brand awareness which will directly help in increasing the ranking on search engine ranking. Customer experience reflects their attitude towards the brand and company, and the overall look and feel of the website can have a great impact on how the brand is perceived. Brands should take the time to test their pages that are critical for conversion whilst optimizing as much as they can. The rise of technology such as smartphones and tablets means that customers are viewing the brand’s content from not just a variety of different places but also different platforms.
Brands should take the time to investigate how their brands works on all platforms the customers use while ensuring that the mobile features are correct. Public relations is also an important aspect for the company’s online presence as it generates good articles and news. Using good strategy, by putting across good articles which increases the knowledge of readers towards a particular subject is very important. The articles should be linked to the brand’s social media platforms to have a better reach and engagement with the customers.
It is important that brands have someone to mentor them in marketing strategies, someone who knows Google Adwords and knows how to use it to increase the reach of the brand to the customers. Other social platforms such as Facebook, Instagram, LinkedIn, Twitter, Youtube, Pinterest are important elements of social media and assistance from an expert will help a brand function better and can be implemented into the brand strategy.
There are three key elements that are required to be addressed which are the website, brand and staff/project managers. Each element is assigned a subtask which is followed by additional sub tasks. So as a business you will know that you have three areas that require attention and it could be broken into smaller tasks. Dividing the tasks helps in completing them and achieving the set goals while not missing out on something important. If the company enjoys the task they are conducting they will enjoy it and be able to achieve it sooner.
It is important for a company to develop themselves in terms of performance, actions, disciplines and daily routine. At BrandYou, we can help your brand improve their performance in the market. We can help you break down the important elements to achieve better brand performance while tackling them on a stage by stage basis. We help brands adapt their business how they like along with giving them guidance on how to conduct their business in the market. By monitoring the brands daily performance and reviewing how they did to achieve the set goals.
If a company is unable to get external help from agencies they can educate and coach themselves through online videos and they can learn new skills such as marketing, branding, development strategy and even skills such as Google Adwords, Facebook AdManager which will help them excel in their business.
Brand You Creative
Creator – Lee Kavanagh on Apr 20, 2020