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In today's digitally linked world, businesses rely more than ever on brand awareness generated through public relations, content marketing, and social media.
FREMONT, CA: Brand awareness refers to the target audience's familiarity with the brand. It is widely considered the first and most critical stage in the purchasing process—without awareness, consumers will not consider purchasing a brand.
The following are some of the metrics marketers need to gauge brand awareness.
Coverage: Each quarter, marketers examine total coverage, segmented by feature articles, bylines, mentions, and syndicated coverage. This enables them to track the type of coverage they obtain, whether a feature story or a byline they place. They follow coverage and social shares for each coverage item using a social media management solution.
Share of Voice: Share of voice is a widely used metric in public relations. It is defined as the proportion of coverage and dialogues about the brand (in the news, blogs, and Twitter) that the brand receives compared to its competitors. SOV quantifies simply the quantity of coverage, not the quality of coverage. To solve this, marketers examine the share of impressions—the proportion of total persons exposed to a company's coverage—compared to their competitors. The coverage quality may be determined when the two are compared side by side. If a firm has a low SOV but a high SOI, it may not receive as much coverage as its competitors but will receive articles in outlets with a larger audience and a higher quality standard.
Message Pull-Through: Measuring message pull-through enables marketers to gauge the coverage's quality. By securing critical company messages in media coverage, the company profits directly and indirectly. If messages are not being picked up, they are either not striking a chord with the media or are not the types of pieces a company likes to be featured in.
Mentions: Mentions include any time a company is mentioned in the media or on a blog in a way that does not have a byline or an entire piece about the company. Mentions can include reporters and articles marketers suggested, as well as instances where a writer incorporates a company into a larger story. Marketers monitor the number of mentions over quarters to gauge awareness and buzz.