Marketing Minute- Josh on Brand Awareness ROI19 June 2017 by Brookside Studios
Posted in Marketing Minute Monday
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Josh: Hello welcome to the MMM, today we’ll be interviewing a special guest, my good friend John.
John: Hey everyone, thanks for having me.
Josh: Yeah, thanks for being here. So, the question of the day is how can you measure the ROI of a brand awareness campaign?
John: That’s a great question, and a really important one to answer
Josh: So for starters, let’s talk about what a “brand awareness campaign” is.
John: A brand awareness campaign is a campaign that’s designed to basically let your customers know that you exists and what your products or services offerings are. They say it takes an average of seven touches before a new customer will do business with you, and that’s where brand awareness comes in.
Josh: right, and those seven could be your website, a social media post, a billboard, an email, just really anything with your logo or company branding. And typically the goal of brand awareness is to establish top of mind awareness, which means when a customer thinks about buying something from your given industry they automatically think about your company.
John: So I say, “fine dining” you think-
John: It’s sad but true. A great way to figure out if you need a brand awareness campaign is to make a pie chart of all your competitors and include customers that just don’t know about you. If that segment of customers make up a big piece of the pie, brand awareness might be the quesadilla explosion salad you’ve been needing.
Josh: I’m getting hungry just thinking about it. Now that we know what a brand awareness campaign is, when to use it, and what the goal is, how do you measure it?
John: Well there are generally 4 ways to track the ROI of brand awareness: traffic, backlinks, social media engagement, and sales. So before you start doing anything, get as much historical data on those 4 metrics as possible. That way you know where you’re starting and when you’re improving.
Josh: Well said, so let’s dive into those metrics.
John: Let’s do it. So traffic, Google Analytics is your best bet for one. Look at your average monthly traffic prior to the campaign and when it starts going up, it’s a good indication the campaign is working. Next is backlinks.
Josh: We should clarify, a backlink is a link on someone else’s website that points to your website.
John: You know that’s a great point, and you look good saying it.
Josh: stop it
John: So the more backlinks you have the better you’ll rank in the search engines, and it means that more people are talking about your brand, which is exactly what you want. There’s a number of SEO tools you can use to track your backlinks: SEMrush, Raven Tools, Moz, or if you don’t feel like paying you can just use google search console.
Josh: Not paying is the best, especially when it comes to honey chipotle chicken crispers. You know what I’m saying.
John: This guy. You know me too well. Anyways, social media is also a great metric. The more followers, likes, comments, and shares you’re getting, the better the campaign is working.
Josh: Boy I’d love to share a big old plate of baby back ribs right now.
Both: with BBQ sauce
John: Lastly, there’s sales. Like with any other kind of marketing campaign, when sales are up you’re doing something right.
Josh: So that’s all great, but how do you actually crunch the numbers and determine the hard numbers of a brand awareness campaign?
John: So therein lies the rub. Unlike other styles of campaigns, you can pick apart a brand awareness campaign and determine an ROI for each segment. You have to look at the entire campaign. It’s also important to understand this kind of thing will take a lot of time and some money toward ads. Doing brand awareness organically, without paying for any ads, is really hard to do. SO make sure you set up your budget correctly.
Josh: It sounds like brand awareness needs to be examined from a holistic perspective instead of piece by piece. Looking at the sum of the parts, not the individual parts.
John: Right again.
Josh: Well John, thanks for the help today
John: Anytime, hope this helps. Just remember, this is a brief overview of brand awareness, there’s a lot of little details we didn’t have time to go into today.
Josh: Maybe we’ll get to those details next time. For now, what to you say we head to Chili’s?
John: You read my mind.
Both: Hampton Inns and Suites, Arkansas Razorbacks, Rubber Soul was the Beatles best album, red leather yellow leather.