Did you know that consumers are exposed to some 4,000 to 10,000 ads each day? That it takes an average of just 10 seconds for people to form an impression of your company?
With these advertising and branding statistics in mind, how does a business owner cut through the advertising clutter and deliver a straightforward, distinctive, and effective message about what their company is about?
The answer: by creating a strong brand.
So, how do you develop a strong brand?
You learn from the best!
Take a gander at some of the most important facts and stats about branding we’ve compiled for you and learn how to use them to advance your business.
(Kettle Fire Creative)
And it is. Branding not only gives your business credibility but it also attracts new customers, increases revenue, and makes for happier and more satisfied employees. So, whether you are catering to consumers or businesses, branding can help a company grow and develop.
It may sound surprising, but statistics on branding show that having the right target group and drawing customer’s attention to your brand is not just one of the best branding practices but also the first step towards business success and bigger sales.
Two-thirds of marketers believe that their business would support their brand even if it means losing out on profit. Despite being aware of the importance of branding, branding statistics for 2015 showed that 48% of marketers measure brand metrics.
More and more investors take name recognition and brand strength into consideration when deciding if they want to invest in a certain company.
(CIM Exchange; Inwardconsulting)
Internal branding, which basically refers to your employees carrying your brand message across to consumers, is crucial to employee satisfaction and morale, internal branding statistics reveal. External branding, on the other hand, is all your company’s activities directed through media and corporate relations. Both aspects of your brand need to be aligned, even though goals may sometimes differ.
Gaining your customers’ trust pays off in the long run, especially when you are launching a new line of products; 21% of consumers said they bought a new product just because it was from a brand they liked, branding statistics for 2018 indicate.
Loyal customers are worth 10 times as much as a single purchase. What’s more, returning customers spend 67% more than their first purchase and make bigger transactions as well.
Brand identity is not all about logos and colors. People, especially the younger generations, want to know what a company stands for and what makes it tick. In fact, a survey of branding stats reveals that 51% of Millennials would recommend a brand that corresponds to their social values to a friend.
Consumers appreciate honesty, and recent stats confirm this; 39% of survey respondents stated that they would switch to a new, more transparent brand, whereas over half (56%) said they would be more loyal to a brand if it provided complete transparency, brand loyalty statistics show.
(Fit Small Business; Bop Design)
Fancy logos and marketing strategies are fine and dandy, but customer service also makes up a large share of a brand’s reputation and helps promote brand awareness and positive experiences. Did you know that US brands are losing around $41 billion a year because of poor customer service? Just think how easily this can be prevented.
It goes without saying that brand presence on social media is a must. 26% of respondents stated that they follow 5 to 9 brands, 23% follow at least 10 brands, while only 3% said that they do not follow any brands on social networking sites.
34%, on the other hand, said they would unfollow a brand if it uses automated messaging. One of the benefits of branding statistics is showing companies just how much a difference personal touches can make.
75% of marketers state that presenting their brands on social media has resulted in increased traffic. Despite being aware of the importance of social media, only 32% of companies invest in marketing on social platforms.
Research shows that we trust people more than we do brands. To prove that point: employees have 10 times more followers on social networks than their company’s official accounts and content that is shared by employees gets 8 times more engagement than content shared by brands.
The reason why consumers tend to ignore these ads is that they find them to be less trustworthy. In fact, according to branding statistics, 80% of decision-makers want to get info about a company through a blog or article rather than an ad.
Another 69% say that they consider content marketing to be better than direct mail and PR.
Not only is it more cost-effective, but estimates also show that content marketing can get three times more leads per dollar than paid searches.
Website design is important, but content matters just as muchJudging by branding statistics for 2017, companies have taken note of this trend — hence why blogs account for 434% more indexed pages on Google.
We lead hectic lives today, so it should come as no surprise that people are four times more likely to watch a short social media video than read a blog.
Real, valuable solutions that help consumers discover the best products or services for their needs is what makes people follow and trust a brand, brand trust statistics suggest. Fake or fluffed content can only hurt your business as 23% of consumers who have engaged with disappointing content say that they would not read that brand’s content again.
(Fit Small Business)
48% of consumers expect their brands to know them and know what they want. Marketers are aware that tailored content based on consumers’ needs and their feedback will improve brand engagement rates, brand statistics (2019) show. And that’s not all because…
(Tailor Brands; Digital Training Academy)
Positive feelings, in turn, inspire loyalty and customer retention. Not to mention the surveys where 61% of respondents said they were more likely to make a purchase from a company or brand that offered unique content. Some of the best brand names in the world have already reaped the benefits of this concept, such as Virgin Mobile that earned $5 million from content engagements in a single year.
Simply put, employer branding is how potential employees see your company; i.e., the reputation and popularity of your company as a place of work and the values your business instills on your employees.
A strong brand can only benefit your company. On the other hand, a poorly managed employer brand can result in higher expenses. Employer branding statistics in 2017 show that companies that do not invest enough in employer brands can end up paying 10% higher salaries.
(HR Exchange Network; Beamery)
Being a good recruiter means having a great brand and an excellent online presence, and companies are aware of this. That is why 59% of employers believe employer branding is an essential part of their overall HR strategy, whereas 55% see employer branding as a priority investment.
How your company is perceived is extremely important as 94% of job seekers said they would apply for a job if the company actively maintains its employer brand, while 50% of applicants said they wouldn’t work for a company with a bad reputation, even if they were offered a raise.
(Business 2 Community; (TomLaine)
Branding statistics in 2018 tell us that employees are more likely to change jobs with a company they have a positive association with. Just for comparison, well over half (69%) of candidates would not accept a job in a company with a bad reputation, even if they were unemployed at the time.
The most popular site for researching a company’s brand image is Facebook. Looking at employer branding statistics, 47% of job seekers say that they use this social media platform as opposed to 41% who look at employer review sites and the 28% who use LinkedIn. Visiting social media to learn more about the company is more common among Millennials (68%) than GenXers (12%) and Boomers (20%).
64% of consumers stopped purchasing at a brand after hearing about the company’s bad treatment of their employees.
On top of that, research shows that people retain 65% of the information for 3 days if that data is paired with a relevant image or a visual — hence why visuals are included in most logo designs out there.
30% of the world’s best brands use red. Visual branding statistics show that 23% of the best brand names do not have a color scheme or are just black and white, whereas 20% use yellow or gold and only 7% feature green. What’s more, just 3% use 4 colors or more and only 1% of the most valuable brands are purple.
(Venngage; iMeet Central)
The best example of many powerful logos that do this is Apple. Its simple logo that does not feature any colors or text allows consumers to project their own values onto the brand, branding facts from 2018 inform.
An interesting fact is that since Apple changed its logo from the rainbow version, the brand value has grown considerably. Another example is Tinder, the popular dating app, that removed its brand name from the logo and opted for a simpler icon instead, making it one of the best logos of 2017.
The majority of logos are simple enough to be viewed in smaller sizes, while less than half of logos (41%) only use text and 13% use their brand initials. Interestingly, branding stats indicate that 67% of logos are also horizontal.
Stats show that 67% of small businesses would pay up to $500 for a logo design, whereas 18% would be willing to spend $1,000.
(The Logo Creative)
British Petroleum paid big bucks to change its logo, and its image, in an effort to transform itself into a more environmentally friendly company. Rebranded in 2008, the new BP logo is still one of the most expensive logo designs in history.
As many as 89% of B2B marketers put brand recognition as their top goal, followed by sales and lead generation.
Considering that it only takes people 7 seconds to form a first impression, it is crucial that your brand sends a clear message from the very beginning, statistics about first impressions suggest. Also, your brand’s message should be consistent and dynamic across all platforms.
Not only that, but consistent branding presentation is almost 4 times more likely to generate brand visibility.
(Kettle Fire Creative)
However, nearly 90% agree that brand consistency matters.
Color is crucial. As many as 90% of purchases are influenced by visual factors, brand awareness statistics from 2018 reveal.
You know you’ve created a great brand when the name becomes synonymous with the product or service you are offering. When was the last time you bought a tissue and not a Kleenex? Brand names are extremely important because they associate your business with the image you are projecting. But choosing the right name is not easy. Actually, 72% of the best brands in the world use made up words or acronyms as their brand name.
With a brand value of $234.2 million, this brand grew 9%, making its way to the number one spot among the best brands across the globe. Google stats show that this company is ranked second with a brand value of $167.7 million and Amazon rounds off the top three with $125 million in brand value.
Almost 94% of people in the world recognize the famous red and white Coca-Cola logo, statistics on branding indicate, while the name of the company is the second-most recognized word in the world; OK is the first.
(LogoDesignGuru; Logo Design Team)
One of the most recognized brands in the world, the Nike logo, was created by Carolyn Davidson, a graphic design student, back in 1971.
Forbes estimates that the former basketball superstar will make around $190 million this year alone, while the real value of the deal could be well over $1 billion.
A logo is the visual representation of the brand’s position and message. However, a logo does not make a brand. A brand covers your company’s mission, objectives, goals, corporate responsibility, culture, and your employees and the service they provide.
A brand is the “personality” behind the product, service, or company. It basically tells consumers who you are, what you do, and why you do it. Your brand is what sets you apart from the competition, and what attracts and retains customers. Simply put, your brand is how your customers see you.
The term is connected to the process of branding livestock as a means of expressing ownership. Today, ”branding” still refers to marking something as your own, in this case, your company’s values and priorities.
Branding takes time to build and become unique, very personal and very strong, so strong that, for many customers, they are willing to pay a premium for the product that is perceived as the ‘right’ brand. Think of Mac laptops, Apple-branded products. They have a very particular appearance. Although competitors have attempted to enhance the look of their laptops, by using a special finish – polished steel or other – they are not mistaken for MacBooks.
First and foremost, your brand generates recognition, which in turn creates customer loyalty and retention, attracting new customers in the process as well — all of which ultimately boosts revenue. Having a strong brand not only contributes to customer satisfaction but also to the happiness and productivity of your employees. Moreover, it helps keep the company focused on what really matters. Sure, you can branch out, but staying true to your brand’s image and values keeps a business grounded and on the right track.
Having a consistent brand does more than just convince customers to buy your product or service. Consistent use of your logo, slogan, and brand name (from social media and advertising to your employees) means that your name becomes synonymous with what you are offering. What’s the first thing you think of when you hear “Starbucks?” Or see McDonald’s golden arches?
Not only does it increase revenue and generate trust among your customers but brand consistency is something the consumers expect; marketing is all about giving people what they want.
Brand positioning is defined as space the company’s image and offerings occupy in the mind of the consumer. In other words, positioning describes how a brand stands out from the competition and how consumers see it in their minds.
Creating a solid and consistent brand can be costly. Most importantly, it requires a lot of hard work and participation from all stakeholders. So, if you ever start to think that branding is not worth all that effort, remember these branding statistics and how they can help you improve and expand your business.