GrowthTrack
Take brand tracking to the next level. Traditional trackers provide the brand metrics to monitor your brand’s position in the marketplace. But GrowthTrack gives you much, much more. It also tells you:
- How your brand is performing across the main touch points
- How that performance is impacting buyer behaviour
- What you can do to grow market share and increase profitability
The Benefits of GrowthTrack
Whilst a traditional brand tracker will give you some insight into your brand’s health, it won’t tell you anything about its underlying performance, the impact that it is having on buyers, or what actions you should take to improve or maintain it.
However, with GrowthTrack you can:
- Monitor your brand’s performance both overall and by touchpoint, using intelligent KPIs
- Join the dots between the customers’ touchpoint experience and their subsequent buyer behaviour
- Determine the net effect, in terms of the proportion of buyers you’re holding onto, the proportion you’re winning over, and the proportion you’re losing to the competition
- Make direct comparisons between your brand’s performance and that of your competitors
Answer the ‘What next?’ question by letting GrowthTrack show you where to focus your marketing spend for the best return
Using GrowthTrack in your business
Customised to you
Your business is unique – your brand tracker must be too.
That’s why we start by making sure we understand your business inside out. Only then do we design your bespoke GrowthTrack tracker.
Everything is tailored to your brand, including the questions we ask, the audiences and touchpoints we target, the frequency of the fieldwork, right through to the analysis and reporting.
For B2B and B2C
GrowthTrack is perfect for B2C companies looking for a brand tracker capable of driving growth and profitability – including those in consumer goods, financial services, hospitality, retail, travel and tourism.
GrowthTrack provides the same advantages for B2B brands looking to maximise profitable growth – including SaaS companies and those in financial services, fintech and professional services.
Tips for Building Your Tracker
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What do you want to get out of GrowthTrack?
Consider your KPIs and what success looks like for your business. Let us know what goals you have in mind, and we will tailor your tracker to measure and advise with those aims in mind.
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What should you measure?
A good tracker should be developed with you and for you.
A key part of that development lies in defining the metrics and measures that matter. We’ll work with you and guide you through this stage. Typically, measurement focuses on customer experience touchpoints, comms and brand measures, as well as buyer characteristics, including demographics, attitudes, and usage need states.
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Which brand competitors should I monitor?
You will know your competitors better than us, so be sure to let us know who is currently competing for your market share and audience. Don’t just include big names, focus on the smaller businesses that are new to the market and serving a particular niche.
From there, we can monitor them closely, and provide further competitor insights.
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How often should you monitor GrowthTrack?
How often you track your brand’s current performance in the market will depend on the speed in which transactions occur for you, and how the market moves over time.
For example, those in the FMCG sector would expect monthly or even more frequent tracking, to monitor regular shifts in the market as consumer habits change quickly.
But for businesses where transaction processes are lower in frequency or have a slower sales pipeline, then a quarterly or 6-monthly tracking frequency may be more suitable.
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Can you measure the impact of topical events?
We always recommend to keep your tracker as stable as possible, by ensuring the same data is being collected at each interval.
But, we understand that outliers can occur for your business, such as new product launches, seasonal events or shifts in competitor activity. For this, we can implement a ‘flexi-section’; an allocated blank space on your survey where additional questions can be added or removed when needed. This retains the stability of your tracker whilst offering flexibility to respond to unplanned events.
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How should results be reported?
From close of fieldwork through to analysis and reporting usually takes 2-3 weeks. Instead of sequential reporting you could consider development of an ‘always on’ digital dashboard, designed to pull in data and display key metrics as soon as the data comes in. This is a much more agile output, giving you the information you need at the right time.
Irrespective of cadence, reporting is usually face-to-face (online or in person) in a presentation format that includes data charts, tables, and a narrative. The key attributes of a good ‘debrief’ include:
- A narrative arc that tells the story of your performance in the marketplace
- A focus on what this means for your business activities whether; marketing, comms, pricing, distribution, product mix, etc.
- Actionable insights and guidance
Other reporting tools may include highly visual infographics or a strategic annual deep-dive convened in a workshop-style setting.
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What’s your budget?
GrowthTrack pricing is bespoke because the tracker will be built to your specification. We can also work to a fixed budget, in which case we’ll specify tracking frequency, the metrics you are able to measure, and survey length. At Brandspeak we help our clients develop the right brand tracker for their needs, and to improve the strength of their brand within budget.
Involve the right Stakeholders
Keeping decision-makers to a minimum not only ensures your tracker can remain focussed and accurate, but also reduces the time it takes to launch and begin gathering valuable data for your business. Brandspeak are here to ensure all those involved have their say, and offer our own advice on how best to tailor your tracker and captured data, to ensure only the most relevant insights are being measured. We’re to keep your brand tracking optimised and efficient.
Choose a trusted Research Agency
GrowthTrack may be one of the biggest ongoing research investments you’re going to make and you’ll be developing a long-term relationship with the team here at Brandspeak.
So get to know us, find out about our credentials, talk to us about your goals, share your ambitions with us.
It’s important that you feel confident in Brandspeak as your tracking agency. So get in touch with any questions, and we’ll happily explain more about how we can help your business move forward.
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- 44 (0) 203 858 0052
- enquiries@brandspeak.co.uk
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