Kelly’s first post discussed types of brand awareness and why brand awareness matters. In this post, we will continue to explore brand awareness.
How do brands build brand awareness?
The short answer: Advertising that prominently features the brand name. Keep in mind that a campaign with a strict awareness objective is only concerned with making members of the target market aware that the brand exists (and, usually, helping them place it in the correct category). Once awareness is established, subsequent advertising will focus on knowledge and emotional engagement.
Awareness studies aren’t just limited to brand names. In 2012, The Meyocks Group worked with Farm Credit Services of America (FCSAmerica) and its Agriculture Works Here campaign.
For the first 12 months, a heavy media schedule used creative that featured the tagline front-and-center to introduce it; the tagline was the headline and the message. Once awareness was established, the creative was changed to make the tagline a supporting element, allowing us to instill the tagline and the brand with marketplace meaning. That meaning revolved around the brand’s agricultural expertise and commitment to its agricultural mission.
How much awareness is enough?
That’s a tough question to answer. Consider a recent Interbrand report that shows Coca-Cola has 90 percent brand awareness in Western markets – after about 125 years of advertising!
Each incremental point of awareness costs more than the one before – going from 1 percent to 2 percent costs less than going from 89 percent to 90 percent. Theoretically, a marketer could identify (or make assumptions about) the value of each point of awareness and the cost of each incremental point. Armed with this information, the economically optimal awareness level would be the point at which the marginal cost equals the marginal value.
How much advertising weight is needed to achieve the awareness objective?
It depends on a lot of different factors, such as:
- How good is the creative?
- How interested are people in the category?
- How much competitive noise exists in the advertising environment?
But you have to start somewhere, right? Academics have developed several models and most good models consider the following:
- Baseline awareness, if any, before the campaign.
- The tendency of awareness to decay over time in the absence of advertising.
- Media weight in the current period.
- The discounted cumulative effect of media in recent periods.
At The Meyocks Group, we like to use one or more of these models to help clients think about the relative effects of various proposed media plans; always with the caveat that the models (like all models) are simplifications of the real world, and that actual in-market effects will depend on other things like creative and the market’s interest in the category.
What is your brand doing to measure awareness? Please let us know in the comments section.Comments