Given the substantial investments in marketing & other brand building activities, BHM serves as a guide-post to assess the extent to which these activities are on track.
Analysis of sales data provides a substantial estimate of short term ROMI (Return on Marketing Investments) i.e. change in revenue. However, sales data cannot be a performance indicator of long term ROMI, the activities aimed at building brand awareness, developing desired brand imagery, etc.
BHM helps to measure the less tangible component of ROMI for e.g. change in brand awareness, perception, etc.
The key objective of BHM is to measure the impact of marketing & other brand building activities on creating & sustaining a desired brand disposition among the target audience.
This is achieved by continuously monitoring brand KPIs:
Purchase Funnel Metrics
Brand Equity Index
Brand Health Metrics
Brand Image Association
The study is usually designed as a regular tracking study to ensure continuity and consistency, rather than obtaining discrete measures which do not provide a holistic view of the brand evolution.
The study costs only a fraction of Client’s marketing investment !!!