Having a hard time getting people to engage with your business? You may be overlooking a crucial part of your marketing strategy -- brand awareness!
Brand awareness is the foundation, not only of a successful marketing strategy, but of consumer trust and business growth. It is a major asset that adds value to the products or services that a business offers to consumers.
What is “Brand Awareness”?
Brand awareness is the extent to which potential customers are able to recall or recognize your brand. If a consumer recognizes your brand name or logo, this is brand awareness.
To go a step further, potential customers may remember your packaging, phone number, location, or slogan.
Can you hear the McDonald’s “I’m lovin’ it” slogan without humming along in your head? How many times have you repeated Verizon’s “Can you hear me now? Good.” slogan when on the phone?
All of these pieces encompass brand awareness, an essential part of a consumer’s purchase journey, especially in the early stages of your consumers’ journey.
So, why is brand awareness so important?
It Creates a Solid Foundation
In order to see a return on investment, you need to start from the ground up. Set up social media channels to engage with potential consumers, set aside part of your budget for Facebook ads that drive awareness, instill a sense of brand loyalty, and keep your business information up-to-date. The more often consumers see your business online, the more likely they are to think of your brand when it comes to making a purchase decision. Brand awareness sets a solid foundation of trust between you and the consumer, and you are more likely to be seen as a reputable brand.
Consumers Need to Trust You
Consumers want to spend their money on products or services that they trust. So, as a business owner, how do you get them to trust your business? By first focusing on brand awareness, you can create a positive perception of your business in the minds of potential customers. When your target market associates your brand positively with the product or services that you offer, you can earn loyal customers that come back again and again! Some additional ways you can increase your consumers’ trust in your business include:
- Providing quality customer service
- Sharing positive reviews and testimonials
- Maintaining honesty and transparency with your consumers
- Asking for feedback from your customers and implement it
- Allowing your customers to contact you easily
It Sets You Apart
What would Coca-Cola be without their classic red cans? Can you imagine an iPhone without picturing the Apple logo? The branding efforts that these companies have built into their campaigns set them apart from their competitors. Because potential customers recognize these brands, they are more likely to purchase from them than from a competitor. In order to make the most of all your marketing efforts, it is important to make sure that your brand stands apart from the rest. As you build brand awareness, which includes strategically creating a brand that your consumers recognize through your logo, content, and overall message, you will begin to stand apart from your competitors. Stand out from the crowd and make a name for your business! It will (literally) pay off in the long run.
It Builds Brand Equity
When we talk about brand equity, we are referring to the overall value that a brand is able to provide to its consumers. Brand equity and brand awareness go hand-in-hand. This is because brand equity is measured by the positive experiences and perceptions that consumers have of the brand. When you have positive brand equity, you will also be able to generate more revenue because of higher perceived value. This will allow you to grow your business and make a greater social impact.
People Will Align Your Values with Their Wallets
People are more likely to purchase from businesses that have values they admire or appreciate. Whether it is community service, donations, or even the brand mission statement, people want to spend money at businesses that represent values that are important to them. Make your brand stand out by sharing a behind-the-scenes look at what makes your business unique!
Brand Recall is Central to Purchase Decision Making
The four sales funnel stages include awareness, interest, decision, and action. In the “interest” stage of the sales funnel, consumers will shop around, look for reviews, and read through blogs. However, when they are finally ready to make a purchase, you want them to remember your brand first. Brand recall is a necessary part in this recognition that ultimately leads to their purchase. Brand recall is “unaided” awareness, and it is essential if you want to reach your target audience and establish long-term customers that will spread the news about your company. This unaided awareness means that consumers are able to instantly recognize your business without being prompted. Brand awareness has a direct impact on ROI. When your consumers are able to recall your brand promptly and effectively, your business will see organic growth.
Reputation is Essential in the Digital Age
When was the last time you posted to your Facebook page? Are you responding to reviews and comments? Are your business listings up-to-date? At the end of the day, having a strong digital presence is essential to making a conversion. Easily accessible, up-to-date information, and a brand that is easy to contact or learn about online goes a long way. Remember-consumers are more likely to trust a brand with a strong digital presence. Transparency and responsiveness are key aspects of digital marketing and of building brand awareness!
At Scorpion, we have Internet marketing experts who can work with you to build strong brand awareness through your social media channels. Learn more about our social media marketing services!