Brand health refers to the overall perception and well-being of a brand in the eyes of its target audience and the market as a whole. It is an assessment of the brand’s equity, reputation, and customer sentiment across various measurable aspects of a brand, including brand awareness, brand preference, brand loyalty, brand advocacy, and market share. Brand health is essential because a strong and healthy brand can attract and retain customers, drive sales, and maintain a competitive advantage.
Customer experience (CX) plays a crucial role in creating word-of-mouth (WOM) marketing. When customers have positive experiences with a brand, they are more likely to share their experiences and recommend the brand to others.
A brand is a unique and distinguishable combination of tangible and intangible elements that usually represent a product or a service. These elements combine to form an impression in consumers’ minds, making the product easier to remember and identify with. The concept of a brand can also extend to organizations offering employment in the job market; hence the term Employer Brand.
Customer reviews can be a valuable source of information for measuring brand health. Customer reviews offer direct feedback from people who have used your brand’s products or services. For businesses that rely on their reputation, online word-of-mouth is important because this feedback is visible to all.
Voice of the Customer (VoC) refers to the process of capturing, analyzing, and understanding the needs, preferences, expectations, and feedback of customers. It involves actively listening to the customer’s perspective to gain insights that can drive business decisions and improve products, services, and overall customer experience.
Brand equity is a term used to describe the value of a brand based on its name, reputation, and customer loyalty. It’s the intangible asset that drives your business forward. If you’re a CMO, you should be aware of just how vital brand equity is to your company’s success. Read on to learn more about this important concept and why it should matter to you.
Professionals in customer experience (CX), customer insight, marketing, and branding all value and seek customer feedback, but often each group have their own preferred tools. Historically, the most common tool for this form of market research is the customer survey;
