Brand strength analysis
What is the brand strength?
Brand strength is a measure of how well a brand is known and respected by consumers. It is determined by a combination of factors, including the quality of the products or services offered, the effectiveness of the marketing and advertising efforts, the loyalty of the customer base, and the overall reputation of the brand.
Can brand strength be measured?
Yes, it can but it’s a complicated procedure as it should combine different sources with different severity weights. In GrowthRocks we have developed a proprietary way of accurately measuring your brand strength at any given time. A measurement is consisting of a complicated formula (subject of the company’s Intellectual Property) taking under consideration the following variables:
- Volume of searches by brand name per country
- Volume of indirect searches by the keywords you care about get discovered for based on your competitors for a specific country
- Comparison with competition because it’s always important not the absolute number but the relevant one. So there are cases that your brand strength is good not because you do something good but because competitors are inactive or they did something wrong
- Qualitative analysis of sentiment which is what people are writing / communicating about your brand
- Qualitative analysis of reviews and sentiment of them
- Also quantitative and qualitative analysis of Social Media Profiles of the founders, important persons in the company and/or stakeholders
Is the brand strength score global?
No, it is based on Geography as it is affected by local competitors or other elements of local nature. But when you will get the score per country you can create a weighted average based on the severity and strategic value each country has for you growing your brand.
Who needs that score?
Brand strength index (aka brand strength score) is important for
- Investors or VCs when valuating companies through a due diligence approach
- Companies when they have to decide about merging or acquiring another company
- An index to monitor in real time to see the progress of your score in time.
- You, to be able to judge and monitor your competitors. Be assured, they run the same for you 🙂
How it looks like?
This is just a summary. A set of analysis will be provided by country.