By Laura Buckler
We’re experiencing the peak of the digital era, a time in which data science has completely revolutionized the way entrepreneurs and marketers treat their businesses and customers. Every single business needs to reach out to its customers in a way that serves both the brand’s objectives and the customers’ interests. The purpose? Brand awareness.
For your brand to stand out, you need to work on improving its awareness in the eyes of your target customers. Strategy, focus, analysis, and optimization are the main processes that will help you do that.
In today’s post, we’ll explore the link between brand awareness and data science while looking at some of the best ways to increase your brand’s strength through extensive analysis. Pay attention!
What is Brand Awareness?
Brand awareness is not easy to define. In simple words, it is the conscious awareness of customers regarding a specific brand. As an example, if you think about the biggest retail online stores, Amazon will probably be the first thing that comes to your mind. If you think of sports shoes, Nike and Adidas will usually get the first attention.
However, brand awareness is not limited to the simple acknowledgment of recognized brands. It is also the association that customers have concerning the values, principles, and quality of those businesses.
Types of Brand Awareness
Brand awareness is the process of positioning your brand’s in your prospective customer’s minds. It seems like a simple and straightforward process, but unfortunately, it is not.
There are two types of brand awareness:
Brand Recognition
When customers get to choose between 10 products in a supermarket store, they will usually recognize a few products or a few familiar names. That is brand recognition, and it requires a certain extent of knowledge about the brand in order for the differentiation to take place.
Brand Recall
Brand recall is a bit different. When customers recognize a product, they will usually use their memory to recall a specific image, sound, or feeling that is associated with that product. For example, the video advertisements created by Old Spice (the famous man body odor) will usually make customers recall the big and funny muscle guy who promotes those products.
The Link Between Brand Awareness and Data Science
Brand awareness and data science are two different yet extremely interrelated concepts. Brand awareness is developed by brands through a series of advertisements that are targeting the subconscious minds of the customers.
When brands tap into the power of data science, they can find really effective ways to tap into the beliefs, attitudes, perspectives, principles, habits, needs, and problems of their customers.
When a brand personalizes its messages towards really specific audiences, those prospective customers will pay attention. That’s how brand recognition and brand recall are created.
Nevertheless, the process doesn’t stop at advertising. Once a prospect becomes a customer, brands are ought to develop extensive analysis processes that will help them determine the satisfaction level of the customers.
How to Leverage Data Science to Improve Brand Awareness
Whether you’re running a small business or a large international agency, here are the main ways to leverage data science to improve your brand’s awareness:
1. Social Media
Social media networks are huge. Because most people are using it, your target audience is probably using it too. Social channels are already providing a lot of metrics and data: likes, comments, shares, upvotes, etc.
Every single popular social platform will give you the opportunity to analyze your business page’s performance. You’ll find important metrics such as posts’ reach, the age, and location of your followers, the source of traffic, and much more. Gathering these details and analyzing them thoroughly will help you understand your target audience better, which will help you craft more attractive advertisements and content.
2. User Experience
User experience can be tracked in many ways. For instance, leveraging UX analysis tools to evaluate the way your prospects and customers behave on your brand’s website is one of the ways.
Tools like Hotjar can help you see the exact behavior of your website visitors. You can see which pages are clicked and the way your prospects are moving their cursor.
Secondly, as your prospects turn into customers, you can leverage personalized surveys to gather direct feedback that will let you know what needs to be improved.
3. Conversion Rates
To figure out whether your sales funnel is functional and effective, you need to consistently track your conversion rates. There are many CRO optimization techniques out there, and most of them are dependent on data science. Without data, you won’t know what needs to be changed in order for your brand to perform better.
4. Competition
Tracking down your main competitors’ performance is a great way to gather insightful data. You can (and should) leverage competitor analysis tools to find out what your competitors are doing right, and what they’re doing wrong. Also, reading the reviews on your competitors’ products is a super-effective way to get free direct feedback.
5. E-mail Data
Email marketing will help you grow and nurture long-term relationships with your customers. Nevertheless, email is also a great way to gather important data. Again, you should have a look at some of the most popular email analysis tools and see if any of them can suit your needs. Gathering direct feedback through email is also a great way to exercise your data science techniques.
6. Collaboration with Indirect Competitors
Many businesses within your niche are probably looking for the same thing, which is to improve their data collection. Start collaborating with brands that aren’t in direct competition with your business and help each other out!
Takeaways
If you’re looking to dominate your niche market, you’ll need to pay attention to numbers. Numbers represent real facts that can be leveraged to generate real results.
There’s a good reason why they say that “knowledge is power.” It applies to businesses too. Raising your brand awareness is simple and straightforward if you know how exactly to address your prospective customers. Take advantage of today’s tips and tricks and focus on data to make big changes!
