Statistics in 2019 show that it takes 5-7 impressions for people to actually remember a brand.
Let’s not harp on the old adage “first impressions count”, but they do, right?
According to statistics provided by the annual State of Branding Report (see quoted sources below this article), “70% of brand managers felt that building an audience was more valuable to a company’s brand than direct sales. 89% of B2B marketers said, "brand awareness was their most important goal, followed by sales and leads generation.”
As we can see, there's a huge difference between creating an organization that sells a product or service and creating a brand that lasts forever.
According to Zimmerman Radio and Marketing Group, consistently presenting a brand increases revenue by 23%. They cite: “By presenting your brand consistently, over time, consumers will internalize your brand values and be more likely to purchase.”
This heralds good news for business owners who continuously stick to their brand values without giving up!
Here are some interesting facts to motivate:
- The brain processes images 60,000 times faster than it processes words, leaving no doubt that a company's brand visuals will leave the most lasting impressions.
- Interestingly, 33% of the top 100 brands use the color blue in their logo.
- Color consistency, down to the percentage, increases brand recognition by up to 80%.
- B2B marketers have consistently cited brand awareness as their top goal over the last five years.
As the picture becomes clearer, we see why brands matter to consumers, thus affecting your business bottom line profoundly.
The benefits of having a brand could not be made clearer than with the following story:
Another comparative scenario is the ‘no frills, no sales’ analogy. This analogy is explained in a study done in the eighties by the New York Times, and still persists to this day. The study showed how no-name brands of foods were rolled out to the public as an alternative to branded goods, cloaked in a “money-saving” guise and putting many great brands out of business. Consumers found the concept interesting at first, but eventually they drifted back to their old, trusted, brands with their bright labels and slogans that customers had grown used to seeing and buying.
The same can be said for any unbranded business. All new concepts could be considered a novelty in the beginning, but ultimately unbranded products are associated with doubt, whereas branded products will always be considered desirable. Unbranded products show a lack of care, time and research into what their market wants and why they do business in the first place. Unbranded products simply don't have a positive influence on people.
In April this year, Tech Jury released a snapshot of an intensive examination of branding statistics, reflecting the current trends:
- 89% of marketers claim building brand awareness is their top goal-Using color raises your brand recognition by 80%
- 70% of brand managers place a high priority on building an audience
- 60+ million businesses are on Facebook, 93% of marketers use Facebook ads and 90% of customers expect you to be equally active on all channels.
- Steady brand promotion leads to a 23% increase in revenue
It's clear that having a brand strategy and brand creative will drive profits. Follow the advice of professional brand strategists and choose something that fits your pocket while keeping your eye on the prize – a successful brand and engaged audience.
- Jacqueline Smith, Campfire Branding Copywriter
Sources:
https://www.smallbizgenius.net/by-the-numbers/branding-statistics/
https://www.lucidpress.com/blog/25-branding-stats-facts
http://info.zimmercommunications.com/blog/20-stats-that-will-remind-you-of-the-importance-of-your-branding
https://venngage.com/blog/branding-statistics/
https://www.nytimes.com/1986/10/05/business/no-frills-no-sales.html
https://techjury.net/stats-about/branding/