IT'S A
FACT
BRAND
TRACKING
The market is changing rapidly, and consumers’ opinions and desires are evolving even faster. To not only respond to these shifts but also stay ahead of them, it is essential to monitor your brand and compare its performance to competitors. Continuous brand tracking is crucial for measuring brand equity and assessing performance and efforts over time.
Brand tracking is the most reliable tool for measuring a brand’s connection with consumers. It allows us to continuously measure the development of a brand across key metrics such as awareness, preference, consideration, and image. In essence, it enables us to monitor the ‘health’ of the brand, understand the competitive landscape, and provide insights that inform decisions on market strategies.
The brand funnel is one of the most enduring and widely used market research methodologies. To this day, it remains one of the simplest yet most effective ways to assess a brand’s performance among consumers. At its core, it maps the strengths and weaknesses of the consumer’s purchase journey, from awareness to loyalty, in comparison to key competitors.
Moreover, the brand funnel is a universal methodology, allowing for direct comparison of data across markets and countries. A nationally representative sample of the desired target group is surveyed about their awareness and perception of various brands within a specific category. Key performance metrics are then calculated, and consumer subgroups are analyzed to gain actionable insights.
