Of those that can recall your brand, do you know what they actually do online when researching your product?
There are plenty of companies tracking metrics such as brand awareness and recall, but what are those metrics without an understanding of the purchasing behaviour and preferences of these people during their research journey? A company can understand their position in the market, but what are the areas to focus attention to improve that share? Where do consumers go when looking for my product? Where am I losing consumers and where should I concentrate my efforts?
They might recall your brand, but do they even visit your site?
There is a huge drop by most brands from awareness to final preference – even by those consumers who recall a brand unprompted. In the most recent Digital Marketing Effectiveness study for Home Insurance in Australia we see the same trends for the biggest brands in the industry. Looking at the most recalled brand AAMI (55%), only 23% would purchase from them. In fact, only 28% even visited their site when looking for home insurance. Most of all, of those AAMI recall consumers that used a search engine during their journey, 54% visited Budget Direct during their research (see graph below). While Budget Direct were able to attract more visitors to their website for this segment, they were only successful at converting 6% of AAMI’s recall consumers. AAMI retained 23% themselves, losing to a range of other competitors but stayed the most preferred brand of their recall segment.
Budget Direct should focus on successful search conversions
Depending on the view point and priority, two clear stories emerge from these initial findings:
- Budget Direct are successful at driving traffic during consumer searching, and AAMI would be advised to focus on current SEO/SEM campaigns to increase conversion in what appears to be a loyal recall base.
- Budget Direct are attracting the biggest visit rate in the industry with 43% (which is 15% ahead of the next competitor), but are struggling to convert once consumers are on the website. Depending on the search strategy, this could point to unconvincing landing pages – however looking at the results from Global Review’s Digital Sales Effectiveness research, this highlights they are falling behind competitors in delivering a satisfactory customer experience, especially in the Consideration phase of the customer journey.
Tracking online brand strength is important, but only if you can understand the behaviours and preferences around those consumers who are brand aware. Global Reviews can not only track your brand recall, but also your customer’s online discovery journey.
The strength of our Digital Marketing Effectiveness module is the ability to follow the online journey that consumers take, from Brand Recognition through to Brand Preference, as well as the capability to profile these consumers to understand the behaviour of specific segments.
For more information about how to get better insights from your brand tracking, read more about our Digital Marketing Effectiveness module or please contact:
Senior Commercial Director
T: +61 3 9982 3419
M: +61 411 962 857