Brand data is qualitative and quantitative data regarding a business’ brand performance, salience within a specific market, and overall reputation among consumers and competitors.
Within a highly competitive ecommerce market, it’s important for businesses to continually and regularly assess their overall performance to make strategic adjustments to their branding, marketing, and sales initiatives. Brand data gives businesses that clear look into how their business is operating.
Brand data comes in many forms, including:
Businesses can use all of these areas to create a well-formed picture of their overall performance. They can also use tools like data management platforms (DMPs) to automate the data-collection process and organize batches of data for easy analysis.
With the right tools, brands can derive key insights from consumers, competitors, and employees that can influence revenue-boosting operational decisions.