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.
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.
- 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)
- Build brand loyalty on shared values with your consumers. It is not the number of interactions a buyer has with your brand, but the quality and relatability of the interaction. (Harvard Business Review)
- Successful branding yields benefits such as increased customer loyalty, an improved image, and a relatable identity. (TSL Marketing)
- The main benefit of branding tools, and reason to employ them, is to boost profits. (Forbes)
- The greatest negative impact of inconsistent brand usage is the creation of confusion in the market. (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 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)
- 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. (Circle Research)
- 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
- On average, 5 to 7 brand impressions are necessary before someone will remember your brand. (Pam Moore)
- Brands that are consistently presented are 3 to 4 times more likely to experience brand visibility. (Lucidpress)
- The average revenue increase attributed to always presenting the brand consistently is 23%. (Lucidpress)
- Color increases brand recognition by up to 80%. (University of Loyola)
- 64% of consumers cite shared values as the primary reason they have a relationship with a brand. (Harvard Business Review)
- 50% of people follow 1 to 4 brands on social media, 26% follow 5 to 9 brands, 22% follow 10 or more brands, and 3% follow no brands. (BuzzStream)
- 52% of consumers expect brands to know when the right moments are to communicate. (Cube)
- 89% of business readers say that the brand a piece of content comes from is important, and 85% of marketers say the primary reason for creating content is to build the brand and positive perceptions of the company. (The Economist Group)
- 72% of marketers think branded content is more effective than advertising in a magazine; 62% say it is more effective than advertising on TV; 69% say it is superior to both direct mail and public relations. (The Content Council)
- 45% of consumers will unfollow a brand on social media if their platform is dominated by self-promotion. (BuzzStream)
- 48% of consumers expect brands to know them and help them discover new products or services that fit their needs. (Cube)
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!