If your company is operating only with digital products you probably already have a lot of analytics data gathered through your website. In this article we will explore a few different contexts in which you can frame that data in order to assess your brand\u2019s performance.<\/p>\n\n\n\n
We’ll\u00a0go through each stage of the consumer\u2019s decision-making process and correlate the digital metrics you already have with your brand\u2019s health.<\/p>\n\n\n\n
Awareness<\/strong><\/p>\n\n\n\n Do your customers remember your brand?<\/p>\n\n\n\n The first metric to look at in order to gauge brand awareness is direct traffic<\/em> to your website. The percentage of people who arrive at your site by typing your URL into their browser is a fair indicator of how strong your brand is. Established digital brands can source more than 50% of their traffic through direct hits.<\/p>\n\n\n\n The second metric to consider while assessing brand awareness is how many people arrive at your site via a search engine<\/em> by searching for the name of your brand.<\/p>\n\n\n\n As with all these types of analyzes, it is important to make them regularly in order to track your progress.<\/p>\n\n\n\n Familiarity<\/strong><\/p>\n\n\n\n Do your customers know what your brand stands for?<\/p>\n\n\n\n How people behave once they arrive on your website will indicate if they are familiar with what your brand has to offer. The two metrics you should analyze in this case are\u00a0time on site<\/em>\u00a0and\u00a0bounce rate<\/em>. If people leave your site immediately, it probably means that they thought your brand was offering something differently. On the other hand, if they spend more time on your website it indicates that their visit is intentional and that they have found what they were looking for.<\/p>\n\n\n\n In order to assess brand performance (and not the sales-funnel), the analysis above should be carried on a group of people who are aware of your brand, meaning direct traffic or brand-name searches.<\/p>\n\n\n\n Consideration<\/strong><\/p>\n\n\n\n Do your customers want to buy your brand?<\/p>\n\n\n\n Depending on your specific business model, there might be a number of metrics that will show a user\u2019s willingness to buy from your brand. Generally, the metrics you should be tracking are visits<\/em> to your pricing page and clicks<\/em> on “buy” or “add to cart” buttons.<\/p>\n\n\n\n If there is a big difference between the people who show purchase intent compared to how many do finish an order, a more detailed analysis of this behavior is worth doing, usually with regard to your pricing model or trust indicators.<\/p>\n\n\n\n Purchase<\/strong><\/p>\n\n\n\n Are people buying your brand?<\/p>\n\n\n\n Tracking the number of sales and their value is something you are already doing. But because we are looking at brand performance, you might want to analyze how important was the brand factor in the buying decision.<\/p>\n\n\n\n Comparing conversion rates<\/em> coming from different traffic sources will show if your brand plays a significant role in the process. For example, consider the case where people defined as aware of your brand are more likely to buy than those who arrive on your website by accident.<\/p>\n\n\n\n