Awareness establishes your brand as a credible contender and captivates audiences. Learn how to assess awareness and insights to improve performance.
- [Instructor] For years, marketers have referred to the marketing funnel and still do. Some flip the funnel upside down just to make better sense of how this metaphor really applies to modern day marketing. I prefer to think a little bit less about the funnel and more about the customer journey. From a high level, the customer journey is organized into four quadrants, and in this video, we're going to talk about the first of those quadrants, awareness. Awareness is all about establishing your brand as a credible contender. One worthy of taking a look at, and in turn, one that captivates your audiences, and provides value and interest.
Advocacy is about building magnetism you might say, drawing customers toward your brand and keeping them there long enough to begin to connect with their minds and their hearts. Throughout this course, we're going to use a case study for the The Fast Bike Company. This will offer a simple backdrop throughout as we're looking at how to use Power BI for marketing analysis. A brand represents a set of ideals and aspirations, a value proposition, and a story. Brand lift is an important metric in brand analytics and you can look at in two different ways.
First, there's the overall understanding of your brand name and product or service as a credible option in the first place. This is brand recall. Are you a household name? Are you on the tips of the tongues of your target market? Or are you a startup looking to disrupt the space and carve out a niche? Second, there's the lift in brand perception. There's a Venn diagram at work here that combines your intent for how you wanna be perceived and the market's current perception of your brand.
These come together to establish a benchmark for current state. And to help close the gap, you can measure brand lift for perception. In the awareness stage, you might consider brand lift a lagging indicator. In other words, it's a measure that shows the results of your efforts over time. It can take some time to build that level of understanding for your brand, especially considering all of the competeing messages your customers encounter each and every day. A good leading indicator is campaign traction.
A leading indicator shows the results of your efforts more immediately and it's a measure that can quantifiable correlate to your lagging indicators. Campaign traction considers the performance of the marketing programs you're running to build awareness and ultimately, impact brand lift and preference. Some good examples of key performance indicators to assess campaign traction are click-through rate, view-through rate, and cost per action. This sort of analysis both brand lift and campaign traction can help you to identify actionable insights.
These in turn provide a better understanding on what's working and what's not, so you can optimize your marketing programs to drive greater awareness. The more insights you're able to reveal, the more you will be empowered to drive down your costs and drive up your results. The best way to assess awareness is to follow the scientific method offered by agile marketing, and to track your key performance indicators. This way you can benchmark your performance, you can better understand how to impact market dynamics, and you can apply a data workflow integration methodology.
Then, using Power BI, you can ingest your data for exploratory analysis, for modeling, and for visualizing those insights. Awareness is a critical driver for the growth of your business. Without effective awareness campaigns, it's like that Zen proverb, if a tree falls in a forest with no one there to hear it, does it even make a sound? You want your brand to be a welcome sound to your market's ears, and data analysis for awareness with Power BI, will help you to ensure that it is.
- Explain how to use a line chart to visualize brand lift for your markets.
- Recognize the importance of modeling data when creating a visualization for campaign traction.
- Recall the benefits of a stacked bar chart when analyzing conversion rates for lead generation efforts.
- Determine how to increase the number of buckets that display data in a histogram chart.
- Identify the benefits of a slicer.