While business metrics are the true test of campaign effectiveness, traditional tracking metrics can be intermediate indicators of success. Traditional tracking practices are being challenged by new theories such as Daniel Kahneman's theory on how humans make decisions via System 1 or System 2 thinking and the focus on customer experience. Recently, there is increasing interest in real-time tracking to be more agile and enable campaign optimisation.
Tracking studies measure the impact of advertising campaigns once consumers have been exposed to them in market. Typical metrics include awareness, purchase intent, recall & recognition.
1. Brand experience tracking is a response to the focus on customer experience
With marketers putting greater focus on customer experience (CX) in recent years, research methods which track brand experience have come to the fore. Brand experience encompasses the totality of all the experiences and interactions with or involving the brand – not just direct, live marketing activities. New measurement tools such as Real-time Experience Tracking (RET), Experience Stock (ExStock) and Brand Experience Index (BXi) can help brands understand the impact of the brand experience they deliver to consumers on measures such as brand consideration or preference. However, it’s important to avoid focussing on just short-term, real-time measures and to balance short-term measures of CX with slower, harder-to-measure brand metrics which are ultimately the gateway to high-performing brand experience.