Brand awareness is a staple of marketing and advertising campaigns, especially on social media.
It's a long game that pays off down the line, as consumers become aware of your brand and start to internalize the idea of it.
But how do you measure it?
What's the ROI of a Facebook ad campaign that has Brand Awareness as its goal?
How do you translate that into cold, hard cash?
This can be challenging, since brand awareness is kind of abstract.
It certainly translates into more sales, revenue, and profit, but it can be hard to draw an exact correlation between a brand awareness campaign, and sales that resulted from that campaign directly.
In a recent blog post from Hootsuite, the author offers a method you can use to measure the success of your brand awareness campaigns, and get a better handle on whether or not it's driving sales.
How to measure it
1. Set benchmarks
To prove how much you’re increasing brand awareness through social, you need a baseline to measure your progress.
Choose a time period (either weekly or monthly) and use a tool like Hootsuite Analytics to gather the following metrics:
- Reach: How many people saw your posts
- Followers: How many new followers (or Page likes) you gained
- Likes: How many likes your posts received
- Comments: How many comments were left on your posts
- Shares: How many times your content was shared or retweeted
It’s important to measure how these metrics change over multiple weeks or months so you can use the averages to establish your benchmarks.
2. Put your strategy in action
Once you’ve established your benchmarks, it’s time to implement a social strategy that you think will boost results (and make people more aware and engaged with your brand).
3. Measure your results
Calculate the number of likes, comments, and shares your posts received over the same period of time you chose when establishing your benchmarks.
Do the same for your reach per post and new followers gained.
Compare this data to your benchmarks and, if all goes well, you’ll be able to prove that your social strategy is making more people aware of—and engaged with—your brand on social media.
You can find more tips for quantifying the ROI of brand awareness campaigns over at Hootsuite.