How to Measure Brand Equity and Why It Matters
Brand equity is the intangible value associated with a brand that makes it distinct and preferred by consumers. Measuring brand equity is essential...
Brand audits are essential health checks for your business, offering critical insights into performance, perception, and potential. To demonstrate how to conduct an effective brand audit, we'll analyze EcoTrek Gear, a sustainable outdoor equipment company founded in 2020 that produces eco-friendly camping and hiking gear.
Before diving into the audit, let's establish our subject's basic profile:
Company Profile:
Visual Identity Assessment:
Brand Voice Analysis:
Findings:
✓ Strong alignment between visual elements and brand values
× Inconsistent application of typography across platforms
× Tagline could better emphasize product quality alongside sustainability
Sales Data (2022-2023)
Tents +45% 42% 3.2%
Solar Gear +65% 38% 2.8%
Hiking Equipment +28% 35% 1.5%
Findings:
✓ Strong growth in core product categories
× Underperforming in hiking equipment segment
× Opportunity to expand Gen Z market share
Here's what to review in the data.
Monthly Traffic 85,000 100,000 150,000
Conversion Rate 2.8% 2.5% 3.5%
Bounce Rate 45% 42% 35%
Page Load Speed 3.2s 2.8s <2.5s
Mobile Traffic 65% 60% 70%
Instagram 125,000 4.2% Daily
TikTok 45,000 5.8% 3x/week
Facebook 78,000 2.1% 4x/week
LinkedIn 15,000 3.5% 2x/week
Findings:
✓ Above-average social media engagement rates
× Website speed needs improvement
× Opportunity to increase TikTok presence
Then you're going to want to look at how you're appearing in the market.
Positive 75% Sustainability, quality, design
Neutral 20% Price point, availability
Negative 5% Shipping times, size availability
Findings:
✓ Strong overall brand sentiment
× Shipping and availability issues need addressing
✓ Sustainability messaging resonating strongly
Then you want to know how you stack up.
Brand Price Point Sustainability Quality Distribution
EcoTrek Premium Excellent Very Good DTC/Select Retail
Competitor A Premium Good Excellent Omnichannel
Competitor B Mid-Range Very Good Good Retail Heavy
Competitor C Premium Fair Excellent DTC Only
Social Media 28% 35% 22% 15%
Press 20% 40% 25% 15%
Industry 15% 45% 25% 15%
Findings:
✓ Leading in sustainability perception
× Opportunity to increase press coverage
× Need to strengthen industry presence
Now, how do people within the walls feel?
Findings:
✓ Strong internal brand alignment
✓ High employee brand advocacy
× Opportunity for improved mission clarity
Once you have all that, you want to make a plan.
Metric | Current | 6-Month Goal | 12-Month Goal |
---|
Market Share | 2.5% | 3.5% | 5% |
Website Traffic | 85,000 | 120,000 | 150,000 |
Social Engagement | 4.2% | 5% | 6% |
NPS | 65 | 70 | 75 |
Brand Awareness | 35% | 45% | 55% |
EcoTrek Gear shows strong brand health with significant growth potential. The audit reveals a solid foundation in sustainability and product quality, with opportunities for improvement in distribution, digital performance, and market expansion.
Remember: A brand audit is not a one-time exercise but an ongoing process of evaluation and refinement.
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