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B2B Brand Management Brand & Marketing Updates Brand Management Market & Economy News

Why Audit Your Brand With Brand Auditor? How Does It Work, and What Insights Can You Get From It?

We launched Brand Auditor in 2020, and by 2021 our market research-based system became the leading brand feedback solution for startups and small-medium businesses on the internet. It was created to offer an industry-standard, significantly better alternative to essay-like, opinionated, traditional brand audits.

Why did it become so popular, why is it so good, and how can your business benefit from doing a brand audit with us? Let’s get started. 

Transparent, industry-standard feedback collection procedure

Our streamlined and cost-effective data collection system is the reason for Brand Auditor’s success.

We use random-device engagement to deliver micro-surveys to target respondents via various audience networks that include Google’s Audience Network, SurveyMonkey Audience, and Facebook Audience Network. These micro-surveys will pop up in ads, YouTube videos, mobile apps, and various other places.

Our system uses micro-surveys for various reasons, primarily because these are very fast to complete (few seconds) and have a high response rate – this will keep our research costs low. The second reason is that our system optimizes question delivery to get equal responses for each question.

All responses are saved in a designated database and automatically visualized afterward. This is our process – simple, straightforward, and transparent.

Brand Auditor is a fast and cost-effective market research system

As certified brand and market research professionals, we know that speed, cost-effectiveness and reliability are key factors of any market research campaign. Brand Auditor is streamlined for that in every step of the market research process.

  • Prompt, near-instant communication
  • Fast report delivery – we can process over 2,000 responses daily per audit
  • The average cost per response is $0.27 (USD)
  • Audits are starting at $500 only
  • Unbiased insights – reports are entirely based on score ratings from your target audience 

Our early survey distribution system has developed a lot from the beginning. Today, we can acquire valid responses in almost any region worldwide for not more than $0.4 (USD) per valid response, with an average CPR (cost per response) at $0.27 (USD).

Audits with low responses targets are often delivered within 2-3 days from placing an order.

Three auditing solutions for every business need

Flexibility and serving our brand audit customers on their terms is at the core of our business model. At the moment, we offer three ways of getting a brand audit or market research done with us.

Specialized snapshot brand audits

Currently, there are 8 specialized audit types that offer a conventional market research solution. Focusing on various purposes, each audit has user-selectable research scopes and insights relevant to the type of research.

Each audit is fully customizable, clients can specify their industry, target audiences, research region, and the number of responses they need for their audit.

Audits are starting from $500, audits with maxed-out configurations cost around $3,000-$4,000 (USD). Pricing mostly depends on the number of audit scopes and response count.

Continous brand awareness and brand perceptions analysis

In September 2021, we introduced a new concept in brand awareness measurement and brand perceptions analysis. 

The new system enables companies to measure how known and popular their brand is among their target customers. All it takes to start a continuous brand measurement campaign is specifying the target audience, target region, and a daily market research budget.

Our system distributes micro-surveys to your target audience and saves all responses to a campaign-specific database. Your daily insights will be available 24-7, on an online dashboard similar to Google Analytics.

The continuous brand measurement solution provides vital brand-related information, such as:

  • Brand awareness – what percent of your respondents were familiar with your brand?
  • Brand perceptions – what do respondents think about your brand and business?
  • What do people like about your business? 
  • What do people dislike about your business?

Clients can manage multiple brand measurement campaigns and set a daily budget for each. Our system will automatically optimize survey delivery to get the most responses for your daily budget.

Clients are billed at the end of every month. 

Custom research, based on your specifications

We understand that you might have special requirements for your market research, that are not covered with our pre-set audits. 

If you like our brand audit and market research solution but need special arrangements for your audit, we will be more than happy to accommodate your needs. 

Please feel free to contact us to discuss your audit and research requirements so we can check the feasibility and cost of your request.

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B2B Brand Management Brand & Marketing Updates Brand Management Market & Economy News Marketing Communications

How to Measure Brand Awareness With Brand Auditor

Brand awareness is known to be a tricky thing to measure. Especially for startups and small-medium businesses with limited budgets and business intelligence. There are many misconceptions and partial solutions on the internet about measuring brand awareness, and regarding how to measure it.

Popular marketing platform company AdRoll released an article about seven ways to measure brand awareness. It’s just scratching the surface, with no real solution offered.

Based on common sense, to measure brand awareness, you need to know the ratio of people who know about your brand among your target customers. That’s it. How to work that ratio out accurately? The answer is simple: with market research.

What is brand awareness and why does it matter?

According to the definition, brand awareness is the extent to which customers can recall or recognize a brand under different conditions. 

Brand awareness is one of two dimensions from brand knowledge, an associative network memory model. The other dimension is brand perceptions. Both can be measured accurately and reliably with your brand awareness & perceptions audit.

According to Taboola, brand awareness is a prerequisite for driving performance marketing, which includes leads and sales. The more people are aware of your brand, the easier you can to generate sales and capitalize on the existing demand. This assumes that your brand is familiar to relevant, high-quality audiences.

Strong brand awareness is linked to market penetration, which is vital when launching new products and services. 

Brand awareness is the ground basis of brand trust, credibility, customers listening to your marketing communication, and practically anything that an “established business” means to most customers.

Small business challenges – why most startups and small businesses can’t measure brand awareness?

To measure brand awareness, one needs to take a large enough sample from the target audience and calculate what percentage of the respondents in the sample group meet the criteria of knowing your brand. 

There are various statistical approaches to determine a reliable market research sample size to measure brand awareness. Most of these calculations involve probability, confidence interval, and other advanced statistical variables that might be too complicated to work out for most small business marketers. More can be found about these calculations here.

Even if a business can accurately estimate its potential market size and determine the necessary quantity of responses to work out brand awareness, collecting feedback will remain a costly challenge.

If a market segment has 1,000,000 potential customers, then you might need to collect around 50,000 responses to take a sufficient sample. Using traditional survey distribution methods like email, social media or retail SurveyMoneky would cost somewhere in the $40,000-$60,000 range. Not too many small businesses have so much money to invest in this brand awareness measurement or business intelligence in general.

So how can a business with a limited budget measure brand awareness based on actual market research?

Brand Auditor offers two affordable, and straightforward brand awareness measurement solutions

Here is how to measure brand awareness with Brand Auditor.

Snapshot brand awareness & perceptions audit

One of our best-seller brand audit products is the Brand Awareness & Perceptions Audit. This audit can get you a 50,000 response brand awareness audit for around $2,500 (USD) and a 250,000 response brand awareness measurement for roughly $10k (USD).

Brand Auditor makes brand awareness and brand perceptions focused market research fast and affordable. During the auditing procedure, we will survey up to 1,000,000 people per segment to find out what percent of them are aware of your brand, and what do they think of it.

Our solution lets you accurately measure your brand awareness, popularity, and customer perceptions in various regions, benchmarked with other companies or competitors of your choice.

Continous brand awareness and perceptions monitoring

For companies that want to monitor the development of brand awareness continuously, we also offer an attractive solution.

The new Continous Brand Analysis is very similar to the Brand Awareness & Perceptions Audit but instead of giving a static snapshot, this solution provides day-to-day insights.

The solution is simple. Our market research system collects as much daily responses as you configure, and visualizes all feedback data on a straightforward dashboard. 

The insights include everything you would like to know about your brand awareness and brand perceptions:

  • Daily brand popularity score
  • Brand awareness percentage
  • Daily score and feedback breakdown
  • Positive and negative feedbacks
  • Popularity benchmark against your industry

You can start a continuous brand awareness and perceptions monitoring campaign for as low as $10 (USD) daily, which will get you around 30-50 responses – based on your target audience and survey region.

Brand monitoring campaigns can be fixed or indefinite terms, and during the process, you will remain in full control of target responses, target audiences, and the daily market research budget.

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B2B Brand Management Brand & Marketing Updates Brand Management Market & Economy News

How to Measure Brand Awareness and Brand Perceptions? Here Is What You Need to Know.

As a business owner or stakeholder in business development, your primary goal is to make the products and services of your brand available to as many buyers as possible.

There are countless tools to build market penetration and brand awareness, such as advertising, PR, building distribution chains, affiliate marketing, cross-promotion campaigns, and so on. 

The most important metrics you want to know when managing a brand are the following:

  • What percentage of your target customers are aware of your brand?
  • Do they like or dislike your brand, based on what they know about it?

Regardless of your choice of marketing tools and approaches, your brand building will be all about building awareness and shaping perceptions among selected target customer segments.

These two are called brand awareness and brand perceptions. Let’s start with defining what brand awareness and brand perceptions are.

Brand awareness

Brand awareness is the extent to which customers can recall or recognize a brand under different conditions. Brand awareness is one of two dimensions from brand knowledge, an associative network memory model.

Brand perceptions

Brand perception is what customers believe a product or service represents, not what the company owning the brand says it does.

These two dimensions can define the state of almost any brand. Niche-brands are only well-known in select customer segments, but they enjoy great perceptions among their small number of target customers. Other companies might have broader brand awareness but are not associated with the qualities they wanted to be known for.

Important brand management insights from Bain & Company

According to Bain & Company, consumer products companies in every part of the world are coming to terms with a profound insight: the best way brands can grow both short and long term is to grow their number of buyers.

There is a lot of misinformation from online marketing gurus about “nurturing leads” and growing an audience. These might theoretically make sense but have little to no business relevance in real-world brand management scenarios.

Bain & company confirms this. According to their insights, most brand management plans typically call for tapping into a well-segmented group of shoppers, getting them to try the brand, and progressively converting them into avid consumers who buy larger and larger quantities over time. 

While this approach may seem to make sense, ample evidence shows that it just does not work.

Pressured by quarterly and annual goals, only a few companies choose to lay plans for longer than the next 12-18 months, and marketing decision-makers who take on a new brand will tend to change everything from the types of SKUs to the advertising strategy – rather than staying the course.

This leads to inconsistent brand and marketing communications, broken brand perceptions, and a lack of focus on building awareness in customer segments confirmed to be valuable earlier.

Companies that keep switching everything risk losing out to rivals that stick with a plan for slowly and steadily increasing penetration.

How to manage brand growth by optimizing brand awareness and brand perceptions?

Depending on the available brand building and marketing budget, a company can accurately estimate the size of the audience they can reach and communicate to. 

As part of sales, marketing, and brand-building efforts, the company will target various forms of communications to introduce products and services to their selected target customer segments.

The three key questions are:

  1. Who to reach? Which groups of people are the most likely to like your brand and buy from you?
  2. How many of these people got to know about your brand?
  3. What to communicate to them to influence brand engagement and sales?

Don’t report brand development based on ad performance and web stat insights

Advertising platforms such as Google Ads, Facebook Ads as well as social listening tools like BrandWatch or Brand24 offer plenty of metrics and insights. If your marketing is outsourced to a marketing agency, they will also provide various metrics in their reports. These include views, impressions, clicks, ad coverage, and similar. 

These metrics are intended to measure campaign performance and ad delivery – and these have little to do with evaluating brand building performance. In many cases, these metrics are not even reliable. In 2020, over 25% of ad clicks and interactions were done by bots, providing zero value for advertisers.

Reporting and analyzing ad delivery and campaign performance metrics in a brand management context can be misleading and counterproductive.

As mentioned before, the two metrics you need to optimize for when developing brand awareness and shaping brand perceptions are how many people know about your brand, and what those people think about your brand.

How to measure brand awareness and brand perceptions?

To measure brand awareness, one needs to collect feedback if target customers are aware of the brand in question. There are no shortcuts around this. 

Social listening tools can not provide an accurate representation of brand awareness levels, as not all potential customers express their opinion online in form of social media content or reviews. In fact, according to recent research, only less than 20% of consumers will go online to talk about products or services they purchase.

We offer two cost-effective and scalable solutions to measure brand awareness and brand perceptions anywhere around the world, targeting any consumer segment or audience you want to analyze. 

Continuous Brand Analysis

Our system continuously collects feedback from your target customers, providing detailed and precise daily insights about your brand awareness and brand perceptions.

The solution enables you to control your daily market research spend of each brand audit campaign by setting daily budgets. You will be billed monthly, based on the number of responses your campaign received.

You can target your brand research to your potential customers who matter – by selecting regions, demographics, specific areas, and relevant in-market interests.

Your daily brand insights are displayed on a dashboard. Brand awareness and brand perception scores alongside other insights are updating daily.

Brand Awareness & Perceptions Audit

This snapshot audit can collect up to a million responses from your target audiences. During the auditing procedure, we will survey up to 1,000,000 people per segment to find out what percent of them are aware of your brand, and what do they think of it.

Our solution lets you accurately measure your brand awareness, popularity, and customer perceptions in various regions, benchmarked with other companies or competitors of your choice.

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Brand & Marketing Updates Brand Management Market & Economy News

Introducing the Continuous Brand Auditing and Analysis

The continuous brand option is now available. Based on our robust market research system, we have designed this solution to enable companies to monitor their brand awareness and brand perceptions daily.

Brand Auditor makes it easy, effortless to collect daily feedback from your target customers if they know or brand – and if they know it, what do they think about it?

What can you measure with the continuous brand awareness and perceptions audit?

As indicated in the name of this audit type, the system enables you to measure brand awareness and brand perceptions.

Brand awareness is the extent to which customers are able to recall or recognize a brand. The consumer’s ability to recognize or recall a brand is central to making purchase decisions. Improving brand awareness and share of voice are critical components of demand generation.

Brand perception is what customers believe a product or service represents, not what the company owning the brand says it does. Brand perception comes from customer use, experience, functionality, reputation, and word of mouth recommendation – on social media channels as well as face to face.

Primary insights are:

  • Daily rand popularity
  • Daily rand awareness
  • What people like and dislike
  • The daily ratio of positive and negative perceptions
brand analysis

How does it work?

In a nutshell, our system distributes micro-surveys based on random device engagement technology to audiences defined by you – collecting as much as daily feedback you placed an order for. Depending on the size of your audience, our system can collect up 100,000 responses daily for each campaign. The results are summarized and visualized on a dashboard that you can access online.

Your target respondents are reached primarily on their mobile devices, when they use apps, watch YouTube videos, or browse the internet.

This first-hand data collection guarantees significantly better quality insights compared to wild guesses and social listening tools.

Who is this for? Which companies can use continuous brand awareness measurement?

Continous brand monitoring is for any company that would like to keep an eye on brand performance. This is necessary when marketing, brand building, and advertising functions are outsourced to marketing agencies – and the management wants to measure how marketing investment contributed to brand awareness and perceptions.

Another typical use of continuous brand monitoring is to track brand awareness in multiple regions and target customer segments. Brand Auditor makes it easy to set up dashboards for each brand measurement campaign.

Our solution has been optimized for small and medium-sized businesses. With reasonably low market research investment, Brand Auditor offers focused information, flexibility, and helpful support for any company that wishes to measure brand awareness and perceptions.

How much does it cost? What payment methods are available? 

The cost of continuous brand auditing is based on how many responses you acquire. At any time, clients can adjust their daily market research budget and targeting. However, for new target segments, we recommend setting up a new campaign and dashboard.

Similar to Google Ads and Facebook Ads, response prices will vary based on the target audience, target location, and response rate. Typical response cots in North America and Canada are between $0.2 and $0.5 per valid response. In Europe, the average CPR (cost per response) is between $0.3 and $0.6.

The minimum daily budget is $10 (USD). Calculating with the lowest average CPR, this will be sufficient to collect 40-50 valid responses daily.

Continous brand audit customers will be billed monthly, based on the volume of responses they acquired. In the first few days of every calendar month, clients receive an invoice for their usage in the previous month. Payment options are credit card, PayPal, or bank transfer.

To prevent the abuse of the system, and avoid financial risk, we might issue an invoice before the end of the month if excessive use is detected.

Can I pause or cancel the continuous market research campaigns?

Yes, you can pause or cancel any time. Should you cancel a campaign, you will be billed immediately for your outstanding market research costs.

In case you pause a brand audit campaign, you will be invoiced for the monthly usage at the beginning of the next month.

Are there any upfront fees?

$250 (USD) is payable upfront for each dashboard and campaign. This will be deducted from the first invoice.

How to get started?

Visit this page to learn more about continuous brand auditing and fill out the form at the bottom of the page to indicate your industry and number of monthly responses. We will get back shortly with further information and the next steps.

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Brand Management Market & Economy News Personal Brand

Personal Branding Tips for Consultants. Why Consultants Need a Personal Brand?

Before talking discussing personal branding tips, let’s pause for a second and ask the most important question. Why do you need a personal brand as a consultant?

Because people don’t like to work with assholes. When a team chooses a consultant to work with, they will not only evaluate their professional background but also how the person will fit into the culture of their company. Not everyone is a good fit, so they will definitely check out who they want to work with.

Your personal brand communicates who you are as a consultant, your work philosophy, way of doing things, and core values. Having these pronounced in your personal brand and marketing communication will not only help you to attract more clients but also attract clients with who you will enjoy working.

You might want to check out two of our audits that can help you to understand what people like and dislike about your personal brand.

Most people confuse marketing with branding. Marketing tools focus on connecting with the target audience to convince them to purchase products or services. The main aim of marketing is driving sales. Branding is all about defining who you are. It also entails communicating your mission and values to influence the public perception of you. Personal branding drives recognition and loyalty. As a consultant, you need both. Better even, you have to start with personal branding strategies that will foster trust with prospective clients and help you in your marketing efforts. Let us look into some personal branding tips for consultants:

Tell your story

As humans, we desire connection. One of the best ways to connect with your prospective clients is by telling your story. Create an authentic narrative that speaks about your passions and the various adversities and uncertainties you have endured getting where you are now. Your audience wants to know that you are human. You can share your story on social media platforms or your website. Consider your profession and identify the people that you would want to reach. Identifying their interests and motivations will help you know what things about yourself they will find relevant.

People buy from people, and your potential clients want to work with someone they feel they know well. The only way you can let them in and make them understand your prospects is by telling your story. Talk about the formative experiences that have molded you into who you are and the challenges you have overcome to serve your clients better. Your narrative does not need to look like a resume. Make it engaging and authentic. You could create a simple elevator pitch that captures your experiences in a few words.

Have a Unique Value Proposition

People notice the things that stand out. Out of all consultants in your field, why should a client pick you? Your distinctiveness is what makes you memorable. Create a Unique Value Proposition (UVP). Your UVP should highlight the unique characteristics that make you stand out from the crowd of consultants. You can start by identifying your strengths and your distinct abilities. What are the achievements you have enjoyed as a result of those strengths? What do people compliment you for mostly? Your unique feature could be your personality. You do not have to be bubbly, gregarious, and outgoing to build a positive public impression. Some people prefer to work with people that are quiet and self-effacing. That could be your unique selling point. Your distinctiveness could either be in what you deliver or how you convey it. You are more likely to draw more people and build credibility with your authenticity.

Establish a solid social media presence

People need to be able to find you. The increasing number of social media users makes it the best place to grow your brand. People go to social media when researching people, products, or services. Your target clients will not trust you if they cannot find anything online about you. You can conduct a personal brand audit to know what your potential clients think of you and the services you offer. It will help you optimize branding, content, and communications to boost your reputation.
Potential clients are more likely to trust your expertise when you have a consistent brand offline and online.

Use testimonials

You can always say nice things about yourself, but it is always better to have someone else sing of your praises. In this social media era, testimonials and recommendations are critical for building a powerful personal brand. People trust recommendations even if they are from people they do not know. They want assurance that they are not the only ones using a product or service. No one wants to go alone when making a decision. To build your personal brand, you need to gather testimonials from clients.

Testimonials will build trust and validate your credentials. You can ask for feedback at the end of successful projects. Your clients are more likely to leave enthusiastic and glowing reviews when they are still thrilled with the results of your work. Ensure that the process of submitting feedback is simple. Your clients are busy and may not have the time to sit in front of a blank page to leave a testimonial. You can use online forms that are less intimidating or time-consuming.

Create a personal website

A website is an excellent touch for building your personal brand online. Your website can be the place where you talk about your services and your Unique Value Proposition. You can also have a portfolio of your work on the website. Create content that is relevant to your industry and post it on your website.

Creating content will establish you as a top expert in your field and boost your credibility. You can even build a community by asking people to sign up for your newsletter and join the mailing list to get your articles. Ensure that your website is user-friendly and visually appealing. You can use Squarespace or WordPress to build your website. 

Niche down!

If you wish to become a successful independent consultant, you need to find a specific area within your domain of expertise and own it. Having a niche gives you a competitive advantage since it differentiates your offers from other consultants in your field. Narrowing your focus not only differentiates you in a crowded market but also gives you the potential to dominate an entire segment of the market.

A narrow focus demonstrates expertise in that particular sector. It shows that you have an in-depth understanding of your client’s unique needs. To carve a niche, you should start by brainstorming all the areas you could offer consulting services. After brainstorming, evaluate your experience and expertise against three factors- joy, money, and expertise. Which one gives you the most pleasure? Which is more profitable? Finding a balance between these three factors will help you determine your unique niche.

Wrap up

As a consultant, you represent both yourself and the business. An authentic and consistent personal brand is essential for the growth of your career. Your personal branding strategies should be the guiding light for all your decisions and behavior as a consultant.

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Market & Economy News Personal Brand

Personal Branding Tips for Speakers and Coaches

Before getting into this article, let’s address the elephant in the room. As a professional speaker or coach, your personal brand and reputation are everything. The demand for your involvement depends mainly on these two factors, so managing your personal brand well is a top priority.

Sought-after speakers are in demand because people want to see and listen to them. Is it because of what they say? Partially. Is it because of their professional competencies? Maybe. Or is it because they simply like them? Most definitely. This is the power of personal brand management.

You might want to check out two of our audits that can help you to understand what people like and dislike about your personal brand.

Whether intentional or not, everyone has a personal brand. Yes, your personal brand constitutes your unique skills and core values. It is what the world around you thinks of you. Any interactions you have, be it online or offline, are the building blocks for the reputation people will have of you. Therefore, it is necessary to intentionally put your best foot forward and grow a positive personal brand, especially if you are in business! As a speaker or a coach, you need a solid personal brand if you are to grow your client base. Keep in mind that if you are not intentional with developing your brand, people will fill in for you with whatever information they gather from friends, internet searches, and social media. So, how do you do it?

Well, here are some personal branding tips for speakers and coaches:

Ascertain your unique value proposition

Developing a good brand involves bringing out the best version of yourself-not creating a new persona or masquerading as someone you are not. To build your personal brand, you need to leverage the things that set you apart from other speakers and coaches. Take advantage of those differences. People tend to remember the things and people that stand out. And that is why you need to have a Unique Value Proposition (UVP).

A Unique Value Proposition is a statement that highlights the unique things that only you offer. If you are unsure of how to create a UVP, you could start by understanding your strengths. What are the areas that you have excelled in the past? What do people compliment you for often? What talents do people say you have? Answering these questions will help you identify things that you are outstanding at and also lays a foundation for determining your UVP.

Ensure that the statement you put out is clear and in a language that resonates with your target clients.

Carve a niche

The world of coaching and speaking is vast. There are several things you can coach or speak about. But the only way to separate yourself from the crowd is carving a niche and specializing in that. What things are you passionate about? Do you prefer solving problems? What problems do you enjoy solving? Is it relationships, spirituality, or career? Do you like making connections? Know what you are good at within the coaching or speaking field.

When developing your personal brand or even marketing yourself, you will angle your messaging towards that specialty. Don’t allow yourself to fall into the background where people do not find anything special about you or your delivery angle. If you do not know what your niche could be, you can start by looking at your area of expertise. If your area of specialization is a bit broad, carve a niche for yourself with how uniquely you work or present yourself.

Tip: Remember, you can always rebrand. You are not tied in perpetuity to that niche that you create now. If you realize that your interests have shifted along your coaching journey, you can reinvent yourself in the new field.

Increase your visibility

You might be the Mozart of coaching and speaking, but if you do not have a solid online presence, you may fail to achieve your professional goals. Put yourself out there where your target audience can find you.

In this digital era, you cannot afford to miss out on having an online presence. Start by creating a good website if you do not have one. Your website should have information about you, your past accomplishments, links to your social media accounts, your UVP and testimonials from your former clients. Your website and social media platforms should not only be about yourself. Try to find a way to add value to your audience.

Develop a content strategy and churn out helpful content in line with your field. Ensure that your content is engaging, insightful, and intentional. You can do a personal audit to gauge what people think of you and your overall brand. You may think, why would I give it all away for free?

Now, providing genuinely helpful content shows your expertise. People will trust you with their money when they see that you are a trusted authority in your area of specialization. Try to share different types of content such as podcasts, webinars, online courses, and infographics. It will pay off in the long run.

Try out video marketing

Talking of boosting visibility, try to showcase your portfolio of work. No one wants to get a coach or listen to a speaker that is not worth their salt. People want to work with people who have a track record of excellence. Platforms like YouTube are perfect for showcasing your previous speeches.

Video content is burgeoning, with YouTube garnering billions of views every day. It is understandable why most people love to consume video content. Videos are engaging, and the format is easy to digest. Incorporating videos in your marketing strategies will grow your credibility immensely.

Network!

Networking plays an integral role in career success in all fields. When you form connections with other people within your industry, you are more likely to improve your skillset and be in the loop with current trends in your area of expertise.

When you grow your networks, it will become easier to get more speaking and coaching engagements. That is because people know you. Your peers are more likely to recommend you to people who need help in line with your area of expertise. As you connect and network, you also get to build your personal brand as a respectable speaker or coach. 

Wrapping up

Your personal brand is your most valuable asset as a speaker and coach. It is a competitive space, and the only way to present yourself in the best light is by creating a sturdy and consistent personal brand. That will build your reputation and grow your credibility with your peers and target clients, as well as help you achieve both your professional and personal goals. It will help you get more opportunities, inspire trust with your audience. You will stand out as a speaker or a coach in your niche.

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Brand Management Market & Economy News

Continous, Day-to-Day Brand Perceptions Monitoring Is Coming in September 2021

We have exciting news for our current and future clients. In late September 2021, we are going to release a new feature that enables continuous brand auditing. Why is it useful and why is it a milestone for Brand Auditor?

Before Brand Auditor, traditional brand audits were nothing more than opinionated essays with minimal research. These documents were practically nothing more than the elaborated opinions of a brand-marketing professional.

In 2020, we revolutionized brand auditing

In December 2020, Brand Auditor introduced a whole new way of evaluating brand effectiveness, based on the opinion of target customers. The market-research-based system enabled to visualize crowdsourced feedback and opinion, turning consumer insights into beautiful reports. 

Our next-generation brand audit solution eliminated subjective opinions and guesswork from the process. This enabled startups, SMEs, and SMBs to optimize their brand positioning and marketing communications efficiently.

Once we started to get clients, it soon became apparent that there is a need for a continuous brand auditing solution. Occasional brand audits can only give a snapshot. Our current system is unable to visualize changing trends caused by the evolution of consumer expectation, competitor behavior, and other dynamic factors.

During our first year of operation, we kept receiving requests for a continuous brand auditing solution, so we started to work on it. The good news is that the prototype is already functional, and it is amazing.

What is continuous brand perception monitoring?

Rolling brand monitoring enables anyone to measure how various segments of target customers and audiences perceive various aspects of a brand.

Our new, continuous brand monitoring system can be used to:

  • Measure how people feel about your company
  • Notice if your brand starts to become unpopular
  • Measure brand awareness in various regions
  • Measure brand awareness among different segments of customers
  • Evaluate if changes in marketing communication had any effect
  • Evaluate if your brand building campaigns contribute to the growth of brand awareness

How much will continuous brand monitoring cost?

Dynamic cost per response

Customers pay per response. The cost of responses varies between $0.1 and $0.3, depending on the user-selectable targeting options, such as region, industry, or age group. The system is somewhat similar to the dynamic bidding system of Google Analytics, where the cost per click (CPC) depends on the interaction rate, bids of other advertisers, and other factors. 

In the case of Brand Auditor, the cost per response (CPR) is also dynamic, depending on the actual cost of acquiring responses.

Daily market research spend 

Brand Auditor customers can limit their daily market research spend. This means predictable monthly costs. Daily budget limits can be applied to each campaign individually and can be updated on request.

The minimum daily spend for each campaign is 10 euros, which equals $12 (USD). For this daily budget, the campaign can collect somewhere between 30 to 60 responses in a day. The Brand Auditor system will always optimize itself to collect good quality responses at the lowest possible cost.

Daily cost calculation, monthly billing

Daily costs, responses count, and average CPR (cost per response) are displayed on each dashboard. Customers receive an invoice in the first days of every new month for their accumulated market research costs of the past month.

Sign up for free testing

The system is still under development, but for testing purposes, we welcome companies who would like to try this system. The expected commercial launch will happen in late September 2021 or October 2021, so anyone can apply to test the system meanwhile.

Testing is entirely free of charge and does not require any account access or to exchange sensitive information.

Contact us to sign up.

Categories
Brand Management Market & Economy News Personal Brand

New Brand Audit for Social Media Influencers, and New Targeting Option to Choose Specific Regions

The past months were quite exciting here at Brand Auditor. The business has been going better than expected, and we have taken strategic steps to establish ourselves on the market by expanding our referral and reseller network. We have also launched a new audit for social media influencers and added new features to our report config tool.

Brand Auditor just turned one year old

We are happy that our market research-based brand evaluation system that we prototyped a year ago has become the go-to brand audit tool for SME-s around the world. Today, reputable marketing consultants recommend Brand Auditor, and various media outlets wrote about our system. But most importantly our customers are very satisfied with our audits. 

Back in the beginning, the concept of Brand Auditor was based on a much more simplistic idea – one that was built to rate various aspects of social media pages. It was called “Rate My Pages”. You might still be able to find some references online. 

As you see, the concept became much more versatile and elaborate since then. Today, Brand Auditor can be used to measure brand awareness, as well as to get crowdsourced consumer feedback of over 60 aspects of brand and marketing communications. In addition, we created a whole new self-service audit configuration tool, so people can configure audits to get the information they truly need. 

Someone called Brand Auditor the “McDonald’s of market research”, as our system brings professional-level market research to an affordable price point, making it available for startups and SMEs regardless of their budget.

Introducing the Social Media Influencer Audit

As mentioned a minute ago, the original idea of Brand Auditor was to let people give feedback on social media pages. We already had an audit aimed at brand and corporate social media pages, as well as a personal brand audit for professionals, but we started to get requests from artists, musicians, influencers, and public figures.

So in September 2021, we have launched a brand audit specifically for social media influencers, called the Social Media Influencer Audit.

We are well aware of the available social media measurement tools, such as Hype Auditor and similar software services – that’s why we designed our social media profile audit to give insights one cannot get elsewhere.

This audit lets you collect tens of thousands of feedback regarding your:

  • Physical qualities 
  • Style & fashion 
  • Personality 
  • Content qualities 
  • Artistic qualities

During the audit configuration, you can define your target audience, target age group and gender, your profile type, and industry – making sure that the responses and ratings you will receive are relevant. Audit prices are starting from $75 for basic configurations, but large audits will cost more based on the number of feedback you want to get.

New targeting feature: choose specific market research regions

Since the launch of Brand Auditor, we have been receiving requests to offer a more specific and precise geographical targeting system for our market research campaigns.

Most people wanted to drill down to city-level, or even Zip codes. This is okay, however estimating the number of valid market research responses is nearly impossible. 

Let’s say a company would like to survey 18-24-year-old sports fans in a small town with a population of 100,000. This sounds like a valid criterion, but estimating the true available respondents who will actually respond to the survey is statistically challenging. We might be talking about 4000-5000 people. 

Such estimates make more sense in regions with high populations, such as Asia, Middle East, and other urbanized locations.

We are working on creating a dynamic demographical database of regions we frequently audit, so our audit configuration tool will be able to offer reliable estimations in real-time.

As a temporary solution, we made it optional to specify your target location. Please use this feature considerately, and do not try to configure audits that seem statistically impossible. Let’s say do not order and an audit of 20,000 respondents surveying a town with 25,000 inhabitants. That will not work.

As usual, we are always happy to manually check and confirm if your market research configuration is feasible – so before ordering an audit please feel free to contact us.

Categories
Brand & Marketing Updates

Prepare Your Company for the Next Economic Boom

A boom is coming. With the economy awash in cash from fiscal and monetary policy, savings stored away due to pandemic inactivity, and a burst of optimism with Covid fading, consumers are starting to open their wallets – big time. Business spending is following. We can’t say how long this will last, but we can know for certain that it will transform companies ready for this moment. How should you prepare your brand or business for the boom?

Questions To Ask Of Your Business

Before you take steps to prepare, you need to assess your situation and your industry’s links to this economic cycle. Among the questions to ask yourself are these five:

How will a burst of business and personal spending affect us?

This isn’t limited to just buying new products with excess cash. Both business and consumer confidence have feedback loops, and in a boom that feedback is consistently positive. As confidence grows, how does that affect when people will buy, how premium their purchases will be, and how ready they are to experiment with new offerings? Will they fund their spending differently, taking on more cheap debt while rates are still low? When people eventually start over-spending, how will that first show up?

Where will shortages affect you?

Booms create shortages. In our last boom, during the 1990s, skilled labor was in particularly short supply. That could happen in this boom too, but what else affecting your industry might start getting constrained? How will you deal with that? Can you have a Plan B to maintain resiliency when it occurs?

What changes has the pandemic created for your growth opportunities?

Undeniably, the world is different now. What changes will stick? How is the competitive playing field different? Now that companies are shifting en masse from defense to offense, what does that mean for your offensive plan as you prepare for the coming boom?

What’s your plan for sudden changes and disruptions?

Clayton Christensen coined the term “disruptive innovation,” but he never thought our current time would be titled the Age of Disruption. Yet we see the term more and more. As it becomes ever-easier for entrants to upend industries, what steps can you take to become more flexible to respond? If we needed proof of the need for resiliency, the pandemic delivered it in spades.

How much should you invest in growth options, how broadly, and where?

Without a portfolio plan of how to invest for growth, it’s easy for firms to gravitate towards a bimodal strategy: lots of small bets close to the established core, and a tiny number of big initiatives. Think of your retirement portfolio; I hope your investments don’t look like that. Neither should your company’s. Rather, think carefully about how broadly to spread your investments, what the right mix of aggressiveness should be, and what payback periods are realistic. What’s your plan?

Steps To Take Now

To get ready, here are four steps you can take to get moving. Do them fast but in sequence.

Separate the Facts from the Assumptions

What are you certain of, what are known knowledge gaps, what other relevant knowledge might exist elsewhere in the organization, and what are the hidden icebergs – the unknown unknowns? Use the Uncertainty Matrix to organize your thinking and the action implications. You don’t want to run into planning with a jumble of assumptions, facts, and blind spots. Bad inputs will yield bad outputs.

Determine Coming Behaviors

How will your world be different in your planning horizon? Between the pandemic and its aftereffects, e.g. greater comfort with changing behaviors or doing anything online, much has happened to shake up business-as-usual. Add in the impacts of industry disruptions, and our vulnerabilities to future shocks, and it becomes clear that you can’t drive ahead through looking exclusively in the rearview mirror. Get specific about what will be different. Break your thoughts into categories and try to lay out at least three ways that purchase and usage behavior will be different going forward. You can use tools like Jobs to be Done to get you thinking in new ways.

Develop Alternative Futures

While we can plan for the boom, we can’t assume omniscience. The world is moving in too many directions all at once. Instead, you can develop clear alternative futures for your industry. These are not worst/middle/best case scenarios (people always choose the middle one) but rather detailed views of how business dynamics could work in very different ways. Then determine what you would need to do today to thrive in each one. Try to find what action implications might be common across these alternative futures, so you’re prepared no matter which way your industry evolves.

Create your Portfolio Plan

Now that you have a clearer view of the future, and the actions you should take now to succeed tomorrow, you can decide the shape of your portfolio plan. How many investments should you be making? How diversified should they be? What type of risks are you most comfortable taking on? How can you neutralize the biggest hazards to your success? How prepared will you be to double-down on winning bets? Know this now, before the swirl of events in a boom inevitably skews your perspective.

Booms can create fortunes, but they also produce rapid change which can trip up the unprepared. Plan ahead!

Contributed to Branding Strategy Insider by Steve Wunker, Author of JOBS TO BE DONE: A Roadmap for Customer-Centered Innovation

Categories
Brand Management Market & Economy News

The Best Way to Do a Brand Analysis, as Fortune 500 Companies Do

When you look up “brand audit” or “brand analysis in Google, you find tons of nonsense written by people who never did a proper brand analysis in their life. Entry-level brand consultants, self-proclaimed digital marketing gurus, and social media enthusiasts will tell you about various strange brand analysis methods. Most of those are trivial, obvious generalities, but some are downright nonsense that can even harm your brand.

Let’s see some of the most common theories.

Debunking popular, but useless brand evaluation methods

Before discussing the industry-standard brand audit framework that is used by Fortune 500 companies and leading brands around the globe, we need to address the typical analysis “methods” that you should not use for brand auditing. Here is why.

Basic digital marketing metrics provide very limited information. If your marketing campaign had 1,000,000 views, 10,000 clicks, and 1,000 conversions, then it means that you could only record 1% of the information. The 99% of information that you could not record is holding answers to lingering questions, like “why people did not engage with your brand”? 

Optimizing based on 1% of the recorded information and 0.1% of people who converted seems like driving blindfolded, doesn’t it?

Social media analytics based brand analysis (don’t do this)

Reach, engagement, conversion, and view statistics cannot be used as a basis of a brand audit. The reason is simple: there are too many variables in each metric that can make the evaluation unreliable. First of all, social media is full of bots, fake accounts, and people who click accidentally while scrolling. 

On Facebook, a “video view” is defined as a view of three seconds or more and will appear for all videos, including those that come to life as people scroll through News Feed. All advertising platforms will do their best to report the highest possible reach and engagement statistics, even if those are meaningless to your business.

Benchmarking social media reach and engagement against the stats of your competitors as a brand audit can be equally misleading. 

Social media analytics are meant to evaluate social media performance and have little to no use for a brand audit.

Brand audit with Google Analytics stats (useless)

Some digital marketing experts claim that they can read out brand strength-related information from Google Analytics. It is true that some insights are highly indicative, but these do not answer brand-related questions.

Increased web traffic, especially from organic search can be a sign of a developing brand. But it will not tell you why more people started to visit your website, it will not reveal the emotional connection between your brand and website visitors and will definitely not tell how your visitors perceive your brand.

While certain metrics like bounce rate, session duration, and behavior-flow can indicate if your brand and customer experience are right or wrong, but they will not reveal:

  • Why people stayed on your website?
  • Why did they abandon your website?
  • Why they did not return?

This is why Google Analytics is not a reliable brand analysis or brand auditing tool. But it was never even meant to be used for brand auditing.

Brand evaluation based on SEO performance (don’t bother)

Another popular, yet largely unreliable brand awareness evaluation method is analyzing search engine performance results. Similar to Google Analytics and other website stats, SEO figures can be indicative, but should not be used as the basis for brand auditing.

Trust flow, citation flow, Moz rank, and other SEO mathematics mean nothing to your potential customers or people in your target audience. What matters from a brand management perspective is to get more and more people exposed and connected to your brand. While search engines are an excellent channel to appear for your target customers, impressions, CTR and clicks tell very little about why people clicked on your SERP, and most importantly why not.

It is understood that optimizing search engine page results (SERP) will increase your click-through rate and get more traffic to your website, but once again this leaves too much space for assumptions. 

SEO analytics is to measure search engine performance, and while impression stats can indicate the level of brand awareness, it is not to be used as a basis for brand audits or brand strength analysis.

Expert opinion, and “in-depth” brand analysis by an individual (don’t pay for it)

There are thousands of self-proclaimed brand experts out there, who will be happy to charge thousands of dollars for an essay about your brand. Despite the best intentions, such brand audits are practically useless. Why? The reason is simple.

Brand audits from a single expert will only reflect the opinion of one person. Unless she is a psychic, she won’t be able to relate to your brand, products, or services as your customers would. 

Brand audits from branding and marketing consultants usually take lots of time to compile (which makes it expensive) and despite the years of experience and best efforts – these audits will not reflect what your true target customers might think about your brand.

Do a favor for yourself, as well for the dear brand consultant, and do not ask her for a brand audit. Ask your target customers about what they think about your brand. They know best.

The industry-standard brand audit method, that is used by the largest brands globally

If you ask any brand and marketing people in companies like Hilton, BMW, or Gucci, they will tell you that their brand management and brand evaluation strategy are based on continuous market research.

Market research is the only way to collect relevant real-world information regarding what potential customers like or dislike about a brand. These corporations have established data and feedback collection channels, getting in millions of feedback data daily.

The continuous brand analysis typically consists of:

  • Brand awareness measurement – how many people know about the company?
  • Brand perceptions measurement – what do people think about their brand, products, and other aspects?
  • Marketing communications analysis – how do people in their target audience see their marketing efforts?
  • Benchmarking against competitors – how do they perform compared to similar companies?

These are the most important questions a brand audit needs to answer, so the company can prepare informed decisions based on real-life information from its target audience.

Why most startups and small businesses don’t do market research-based brand audits?

For new, small, and growing companies, brand management is not always a priority. However, management teams of established small businesses would agree that having a recognized and popular brand is an important asset of their company.

As market research is expensive, time-consuming, and requires professionals who understand the methodology, the industry-standard way of brand evaluation is not an option for most businesses.

This is the reason why small business owners, startup marketers, and new entrepreneurs tend to get lured into alternative techniques we discussed before: trying to read brand insights out of social media, Google Analytics, or SEO scores.

Brand Auditor offers an industry-standard, affordable brand audit solution for startups and small businesses

Brand Auditor makes brand awareness and brand perceptions focused market research fast and affordable. During the auditing procedure, we will survey up to 1,000,000 people per segment to find out what percent of them are aware of your brand, and what do they think of it.

Our solution lets you accurately measure your brand awareness, popularity, and customer perceptions in various regions, benchmarked with other companies or competitors of your choice.

Leave basic web and social media statistics behind and upgrade your brand management with professional brand awareness measurement insights. Brand Auditor is trusted by Fortune 500 companies, tech startups, travel and hospitality brands, e-commerce stores, and SMEs in various industries worldwide.