What seems to be the basic foundation for every successful CMO, the task of building the right kind of brand awareness is perhaps anything but well, simple. Between message ideation, creation, dissemination and tracking the success of your initiative, there’s a lot of room there for challenges to arise. And while all these factors are critical to building successful brand awareness, perhaps the most crucial is being able to measure your success. After all, if it can’t be measured, it can’t be counted. Yet it seems the measurement aspect is the most difficult for brands to manage and therefore, most often holds them back from achieving brand awareness success.
And while all too often, the bottom line is revenue, the absence of adequate brand awareness tracking only serves to show that you won’t be able to support how it contributed to this outcome. So, not only do you lack any meaningful metrics needed to drive your future campaigns but it’s equally unlikely that you‘ll be able to secure that additional budget you needed for the myriad of campaigns you have on deck.
The reality is that brand awareness is non-negotiable: You need it. And you need to prove it. So, you better be prepared to understand what to measure. Luckily, one input to measure consumer familiarity with your brand is the attraction of new customers. When Partnerize brands track new customer revenue, they can see that they are attracting 40-45% new customers overall (pretty impressive). Further, when you break down into the publisher partner types, coupon partners are right around that average YTD. However, content partners have consistently been hovering around 55% YTD, which clearly showcased their ability to attract new customers to a brand thereby earning the higher commission rates often experienced by content partners.
Want to see more new customer data or learn more about performance with Partnerize? Download our latest U.S. Retail Affiliate Marketing Sales Index here.