Sep

26

Brand Health

A company’s brand health is ever-changing, but today’s social media environment has actually made it easier to track.

Forrester Analyst Christopher Stutzman suggests that CMOs must demand a new dashboard to augment classic brand metrics through the following four factors of digital influence:

Volume. Brand perceptions are typically measured using representative samples of consumers. But why settle for a mere sample when more than 81% of US adults use social media to create at least 500-billion influence impressions on products and services?

Velocity. Marketers usually perform brand-tracking studies once a year or quarterly. But that’s too infrequent to monitor the impact of real-time consumer opinion, as Kenneth Cole’s Twitter fiasco demonstrated — resulting in a 64% decline in brand equity scores in just three days.

Visibility. Consumers are now empowered to voice their unfiltered opinions about a brand to the general public. Already, 25% of search results for the world’s 20 largest brands are linked to user-generated content.

Volatility. Brand sentiment can be increasingly unpredictable in this digital age. Gap learned this the hard way with its new logo unveiling, which received such negative consumer response online that it returned to the old logo one week later.

 

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