Brand awareness is vital to the realization in the marketplace. When consumers are not familiar with the brand, they are less likely to become clients. That’s why the first aim in a marketing communications plan for a new brand is to develop an awareness of the brand.
Brand awareness is the ratio of the target market, which is familiar with the brand. Bear in mind that such consumers might not understand anything about the brand or its advantages. All, which is being estimated, is the level of brand name awareness.
Metrics for Calculating Brand Awareness
The major marketing metrics connected with brand awareness are:
- Total brand awareness
- Prompted brand awareness
- Total unprotected brand awareness
- Unprompted brand awareness
- Top-of-mind brand awareness
Such metrics are interconnected and made on one another to some level. Metrics 5 and 4 are included together to identify metric 3. Furthermore, metrics 1 and 2 are included together to measure metric 1.
Ratio of the target market
The importance of Brand Awareness Metrics to the Marketing Team
The most vital brand awareness metric would be top-of-mind awareness. Recalling by a consumer enables the company to become strongly connected as the market leader in the product category. That would be linked to sales success and market share too. That’s because consumers tend to remember the brands they purchase regularly.