Business

The Importance of Brand Awareness

Brands are more important than ever before. It is not enough to just have a good product, you need your customers to know who you are and what you stand for. This can be done through high-quality branding and marketing strategies. In this blog post we will discuss the importance of brand awareness and provide some tips on how to ensure you are doing everything you can to position yourself as an industry leader.

We have come to learn that a company’s brand represents a promise made to its customers. 

It is a promise of the kind of services and products a company will use to meet its customers’ needs. 

Creating this valuable brand is not free, it takes time, energy, commitment, creativity and resources.

The purpose of this article is to show you why creating ideal brand awareness is important for your business success.

Let’s get started!

What is brand awareness?

When you’re considering your marketing and PR efforts, brand awareness is one of those objectives that seems a bit out there. But what exactly is it?

Brand awareness is the level of public recognition for a brand or company name or logo.

It extends itself to the product or services of a company, the reputation of the goods and services, and the sales volume of said goods and services.

The brand awareness funnel 

We would use a funnel to describe how customer perceptions develop from initial interest in a particular brand to eventual purchase of its products and services.

At the top of the funnel, we have the awareness stage. This is when a customer or potential customer first becomes aware of your business and its offerings.

As customers move down the funnel, they become more familiar with your business and its offerings. This movement is represented by the amount of interest in your products or services that your customers have.

At the bottom of this funnel, we find purchase and loyalty: essentially when a customer becomes loyal to your brand and goes on to purchase more of your services and/or products.

Why is brand awareness important? 

Brand awareness, vital for any business, creates a loyal customer base which will eventually become your returning customers. The more familiar your target audience is with your brand, the better chance you have to turn them into paying customers.

Let’s say you have a service business. With only one client, you can’t expect to grow your business by any significant margin.

You need brand awareness in order for this to happen. You want potential customers to know your brand name and what you offer, so that when they are in need of the service you provide they come to you.

Think of it this way: Imagine a customer is looking for a product, they are on Google and your name pops up. They don’t recognize your brand name, so they click on a different result. 

A week later, same scenario – but this time, your name is recognized and they become curious. They do a Google search to find out more information about your company and come across lots of user generated content (such as reviews, blog posts etc.). 

Now your brand name is familiar to them; they are aware of what you offer. So, when next week comes and their house is infested with ants, chances are they’ll call you.

This brings us to the importance of brand awareness: 

A strong brand identity has the power to influence or change a customer’s perception of your business. It will not only influence future buying decisions, but also provide a positive or negative experience for existing and potential customers.

Benefits of brand awareness 

The benefits of brand awareness are many. These include: 

Increased sales: 

When customers know your brand, you’ll see increased sales. This is because they are aware of what you offer and feel confident in using or buying your products and services.

Improved market share

New customers: 

A strong brand identity will attract new customers to your business. These could be potential clients who have never used your products or services before, but will now because they recognize your brand.

Increased referrals: 

When you have a strong and positive brand identity, customers are more likely to refer your business to others.

Strengthened relationships: 

When customers come back time and again, you know that they trust your brand. This leads to stronger customer relationships.

Positive brand reputation

A strong brand identity also means that you’re creating a positive brand reputation. This will lead to a positive customer experience, which in turn leads to loyalty and increased sales from that client or potential client.

Enables you to know your audience better:

Brand awareness campaigns allow you to know your audience better. When you know your audience better, it allows you to understand the type of language they use. It also helps shape how you communicate with them.

It becomes easier to know what your target audience’s needs are, and how you can meet them. This could mean creating products or services that they need, while bringing in new products or services to meet their changing needs.

Bottom-line: Brand awareness is important because it allows you to become more visible in the market. It will help your business grow and create a loyal customer base that keeps coming back for more hence more revenue, profit and growth.

How to Increase Brand Awareness

Some of the most important ways to increase brand awareness include: 

  • Social media campaigns – your customers want you to be where they spend their time online. Make sure you provide content that is valuable and engaging for them on popular social networking sites like Facebook or Twitter. Remember there’s a fine line between being informative and promotional. 
  • Content marketing – create content that is valuable for your customers or potential customers, but always remember to include a link back to your website! 
  • PR & media relations – make sure you tell reporters about any newsworthy events or announcements from your business. You can also increase brand awareness by participating in interviews and writing guest posts.
  • Networking – attend events, conferences, trade shows or online networking groups to meet potential customers face-to-face. 
  • Brand Monitoring – The use of brand monitoring tools to track what people are saying about your brand online allows you to respond to any negative comments and also increase the visibility of your brand. By proactively engaging with your community, you’ll be able to build a stronger brand.
  • Incentive programs – Reward customers for their loyalty and make them feel appreciated. You can do this by offering special discounts or promotions to your most loyal customers, and giving away free samples of new products or services.
  • Bring your brand offline – Host special events at your store or offsite locations to bring people in the door and increase awareness of your brand.
  • Sponsorship – you can sponsor popular events or sports teams. Make sure you reply to any comments, good or bad.
  • Employee Branding – make sure every employee is walking the talk and representing your brand in a positive way at all times.
  • Partnering with other brands – you can work together to benefit each other’s brand awareness, for example by appearing together at events and sponsoring each other’s social media campaigns.

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