A brand is a funny thing. It's not something you can hold in your hand, yet a brand is the bread and butter of an organization. Without a stable, consistent brand, your company growth will be severely stunted. Not so sure? Well, we've gathered some facts and statistics for you to check out. Prepare to be convinced.
Related: The impact of brand consistency [free webinar]
Let's start by building a foundation—what is a brand, how does it relate to your consumer, and why you simply cannot ignore building a strong brand.
Brand basics
- A brand is a personality that identifies a product, service or company, including a name, term, sign, symbol or design. A brand also represents the relationships between customers, staff, partners, investors, and so forth. (Boundless)
- A brand does not exist within a company or organization. A brand exists in the minds of your customers. A brand is the sum total of impressions a customer has, based on every interaction they have had with you, your company, and your products. (Lucidpress)
- Inconsistent branding doesn't just impact your customers — it hurts employee morale too. (Lucidpress)
Surprised yet? If not, just wait until you see what's going on for B2B brands. In a B2B market, branding is especially crucial. If you are in the B2B realm, here are a few things you should keep in mind.
B2B branding statistics
- B2B brands fare better with customers when they use emotive rather than rational marketing messages. (MarketingWeek)
- B2B marketers have consistently cited brand awareness as their top goal over the last five years. (CMI and MarketingProfs)
- 89% of B2B marketers say brand awareness is the most important goal, followed by sales and lead generation. (Content Marketing Institution)
- The rise in content generation is inextricably linked to the shift in customer expectations. (Lucidpress)
- Building an audience is more valuable than direct sales for over 70% of brand managers. (OnBrand)
- B2B companies with brands that are perceived as strong generate a higher EBIT margin than others. (Forbes)
- 77% of B2B marketing leaders say branding is critical to growth. (Adience)
- 75% of B2B buyers want branded content that helps them research business ideas, but 93% of brands focus their content on marketing their own products and services. (MarketingCharts)
- 91% of B2B marketers use content marketing to promote brand awareness. (Content Marketing Institute)
Surprising, right? Regardless of whether you're a B2B or B2C brand, a small or large business, an emerging competitor or a long-standing organization, you must maintain your audience. Here are a few stats that show how to keep their attention.
Maintaining your audience statistics
- On average, 5 to 7 brand impressions are necessary before someone will remember your brand. (Pam Moore)
- Consistent branding is a requirement when communicating with existing customers. (Lucidpress)
Mind-blowing? We hope so. Now you've got a few more reasons to boost your brand and start thinking seriously about brand asset management. With your newfound knowledge, you're prepared to wow your customers more than ever. Good luck!
