7 Branding & Rebranding KPIs To Measure Your Success
Are you looking to boost your brand’s presence and reputation? Investing in your branding (or even a total rebrand) can be an incredibly effective way of doing this, but it is important to measure the success of any branding effort.
That's why we've compiled a list of key performance indicators (KPIs) that will help you determine if your branding (or rebranding) efforts are paying off.
We know how intimidating KPIs can seem, so we'll make sure to explain each one in detail and provide examples of how they can be used. We want you to feel empowered when measuring the success of your rebranding strategy!
So let's get started exploring what branding & rebranding KPIs are available for measuring success.
The ROI of branding & rebranding efforts
The main number likely on your mind when it comes to branding and rebranding is likely the return on investment (ROI). This core KPI measures how much of your original investment you’re getting back in terms of increased sales or other benefits.
Traditionally, brand-building ROI has been measured by merely subtracting the cost from profit and dividing it by the total value. However, this doesn't provide the full picture of your brand performance.
The truth is, to measure your branding ROI, you need to have a good picture of all the other key performance indicators that highlight branding success. This way, you can get the clearest - and most holistic - view of how your brand is performing and what improvements you could make, where.
So, we've broken down several other KPIs that can help you get the most out of your branding & rebranding efforts in the sections below.
7 branding and rebranding KPIs to measure success
Understanding Customer Lifetime Value
Customer lifetime value (CLV) measures the total amount of money that a customer is expected to spend with your business over their entire relationship. Estimating CLV can help you plan for the long term, as it gives you an idea of how valuable each customer is and what kind of budget you should assign for marketing activities.
To measure customer lifetime value, you can use the below equation:
CLTV = Customer Value X Average Customer Lifespan
To action this data, assess how your branding efforts have impacted customer retention over time. For example, by refreshing your branding and marketing campaigns, have you extended customers’ lifespans? How has branding improved the overall value of each customer?
This data can help you develop long-term branding and marketing strategies that best suit your unique customer base, and develop your customer value proposition where needed.
Analysing Sales Revenue & Bottom-Line Growth
Obviously, sales revenue and bottom-line growth are great indicators of how your branding is performing. This data can help you measure the impact of specific campaigns, or assess how successful new product launches have been in terms of overall branding efforts.
To action this data, assess how your branding efforts have impacted sales levels, both short-term and long-term. Have any campaigns seen an instant spike in sales? Or has there been a steady increase over time?
By understanding the impact of your branding on sales revenue and bottom-line growth, you can gain a better insight into what types of branding efforts are most successful for your business.
This will help inform future plans and ensure that your entire branding strategy is optimized for success.
Tracking Website Traffic and Goal Completions with a Google Analytics account
While you may think Google Analytics is just a tool for SEOs, it’s actually a great tool for analyzing the performance of your branding or rebranding efforts.
Using a Google Analytics (GA) account, you can track website traffic and goal completions, as well as user engagement to see how your customers interact with your website over time. This data can help provide you with insights into which campaigns are resonating with your customer base, and how successful they are in terms of website conversions.
Furthermore, integrating your CRM with Google Analytics can offer even more powerful insights. By combining data from your CRM system, which holds information about your customers and their interactions with your brand, with the data from Google Analytics, you can gain a comprehensive understanding of the customer journey from initial engagement to conversion.
To action this data, assess how your rebrand has impacted website traffic, user engagement, and goal completions. Which campaigns have seen the most success in terms of website visits? How does user engagement compare before and after a new campaign launch? Are you ranking for keywords that fit your brand values and identity?
Using GA data, you can track the overall performance of your branding efforts and make adjustments where needed.
Leveraging social media channels to measure Brand Awareness
Another key performance indicator is your level of brand awareness.
One great way to measure brand awareness is through social media channels. With the help of tools like Hootsuite, or even just the tools within LinkedIn or Meta themselves, you can track mentions of your brand name or keywords related to your product and service offerings.
You can also use these social media channels to reach out to prospective customers who may not have heard about your business before great way to measure the success of your branding efforts is by seeing how many people actively engaging with your brand.
Track reactions, shares and comments on your posts and analyse which type of content works best for increasing engagement. Many pages artificially increase their followers andlikes, however it has a negative impact. To ensure genuine growth, becautious and spot bots on Twitter, Instagram and other social media.
How has your engagement fluctuated with branding changes?
Are people engaging more with your brand now that you’ve changed your logo or slogan? How many new followers are you gaining per month?
Using social media data can help paint a clearer picture of how your branding efforts are performing and whether they’re resonating with your target audience. Implementing automated lead generation strategies alongside social media monitoring can further enhance your brand’s reach and engagement metrics, ensuring a more effective overall marketing strategy
Analysing Customer Retention Rates & Brand Loyalty
Loyal customers are often forgotten when it comes to assessing ROI from branding efforts, but they’re actually one of the most important performance metrics to track.
Customer retention rates and brand loyalty are incredibly valuable when it comes to evaluating your overall branding strategy. Measuring how many customers you retain after a set period of time can give you insights into how effective your branding is at creating customer loyalty.
To measure brand loyalty, use returning customer data or subscriber metrics to identify customers who keep coming back after a set period of time. You can also use customer surveys to ask your existing customers what they think about your branding and if it influences their decision to purchase from you again.
Monitoring Net Promoter Score to measure brand health
Net Promoter Score (NPS) is a key customer satisfaction metric used to measure how likely customers are to recommend your product or service. It helps you understand how loyal your customer base is, and what kind of improvements you could make to increase the likelihood of them recommending your brand.
This data can be a great measure of overall brand health, as it reflects customers’ overall perceptions of your brand and how likely they are to remain loyal.
To measure NPS, you must first survey your customer base, asking them a question such as “On a scale from 0-10, how likely are you to recommend our product/service?”
To action this data, assess how your branding efforts have impacted customers’ loyalty. Do they respond more positively to your revamped branding? Are they more likely to recommend you based on their new perceptions of you?
Using NPS data can help inform the direction of future branding efforts, and give you an idea of what is resonating with your customer base.
Assessing Brand Recognition through your marketing efforts
Your marketing campaigns are often the most useful way to measure brand awareness and ongoing brand recognition. In fact, your marketing strategy is actually one of the key components of a successful branding strategy.
Using tools such as Google Ads and Meta Ads, you can track impressions and clicks for each of your campaigns over time. This data will help you identify which campaigns and landing pages are resonating with customers the most and generating brand recognition. You can also use retargeting campaigns to achieve higher click-through rates and conversions.
You can also use surveys or focus groups to measure how customers perceive your brand. Ask them questions about the brand messaging you’re sending out and what they think of your overall branding strategy.
This will help you gain valuable insights into how successful your branding efforts have been so far and whether they are impacting your brand recognition.
Introducing brand KPIs to your organisation
When your organisation is aware of the KPIs that matter, you can use them to measure the success of your branding efforts. But how do you introduce them to your organisation? Who's responsibility is it to track them? Here are some final tips:
- Onboarding & Aligning Goals: By setting the right expectations and aligning all stakeholders on the same goals, you can ensure that everyone within your organisation is aware of exactly what’s expected.
- Integrating & Automating Processes: You can use tools such as Dashboards or Google Analytics to help automate processes and make it easier to track data in one place.
- Comparing Results to Industry Averages: Market research and comparison tools are essential in helping you understand your performance relative to industry standards.
- Regular Reporting & Analysis: Regular reporting and analysis are necessary to ensure that all stakeholders have the latest updates on how the business is performing. By introducing KPIs to track brand success, you can gain invaluable insights into what works and what doesn’t.
- Continuous Improvement & Optimisation of Your Branding Efforts: Once you’ve established a baseline using KPIs, you can continuously monitor and fine-tune your branding efforts to ensure they’re always meeting their targets. By using metrics and analytics, you can easily measure the success of your branding efforts and make informed decisions about how to optimise them in the future.
And finally...
At Huddle, we understand that branding and rebranding are essential components for any successful business. We know how to craft truly transformative branding that captures the attention of your target audience, makes a lasting impression, and ensures your brand promise stands out from the competition.
But beyond just creating effective designs, we also understand the importance of measuring success with key performance indicators (KPIs). That’s why we specialise in helping businesses develop KPIs that accurately measure their brand’s success over time.
With our expertise and years of experience in this field, you can trust us to provide reliable insights into how well your brand is performing on all fronts.
Brief us today to get started!
Brand KPIs FAQs
What is KPI in branding?
KPI stands for key performance indicator, which is a metric used to measure the success of a brand’s marketing and branding efforts. KPIs can be used to track customer engagement, website traffic, lead generation and conversion rates, social media activity, sales figures, and more.
What is the primary KPI for branding campaigns?
One primary KPI for branding campaigns is brand recognition. This metric measures the degree to which your customers are aware of, and have positive associations with, your brand. To measure this, you can track website visits, search engine rankings, customer feedback surveys, and more.
What KPI is used to measure brand performance?
Brand performance can be measured using a variety of KPIs, such as website visits, social media activity, customer feedback surveys, search engine rankings, lead generation and conversion rates. All of these metrics provide insight into how successful your branding efforts have been in engaging customers and generating leads. Additionally, A lead management tool like Refrens can be utilized to effectively manage the generated leads.