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6 Key Elements of Brand Tracking Success, #6: Future-Proofing

LRW
Posted On  October 18, 2019
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You may not know all of your brand’s future obstacles, but at least you can be prepared. LRW Sr. Vice President and General Manager Scott Luck shares how you can adapt to internal and external changes by “future-proofing” your brand tracker.

Adapted transcript:

Future-proofing your brand tracker

It’s very important in this fast-moving time for a tracking program to be nimble. It has to preserve the historical trends that are important, but it also has to be able to answer new questions and bring something new to the table every time you’re reporting.

Several years ago, we noticed this as key flaw in tracking. We therefore decided to make our program so we would not be inflexible. In fact, our tracking became future proofed.

Future-proofing really means that you’re building the tracking program that can evolve in line with the client’s needs. Therefore, as the world changes, our tracking program moves along with it.

Factors affecting tracking programs

Some of the market dynamics that can impact a brand tracker include the entry of new brands into the market that hadn’t been there before, new technology, and new consumption behavior.

Other outside factors that can impact the tracking programs include things like economic news, trade wars, layoffs, and anything that’s a downturn on the marketplace. We need to take these into consideration when we’re analyzing the data to make sure that’s taken into account.

Visualization of tracking data

Another important element of future-proofing revolves around data dash-boarding. This method brings the research to life through rich data visualizations. Dashboards also provide data democratization. All of our clients can actually access data whenever they want and they’re not 100 percent dependent on us to run things for them.

In the end, a good tracking program will tell you where your brand is. But a great tracking program will tell you where your brand needs to be. LRW’s tracking programs help you make the most of your brand.

Do you want to learn more? We LOVE talking about this stuff! Contact us.

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