“53% of customers expect small businesses to have a brand purpose.”
This means identifying the purpose that drives your business which is fundamental to creating its identity and critical for ensuring your long-term success.
It follows 64% for mid-sized and 74% for large businesses.
And here is one more…
“One committed customer is as valuable as ten customers who only buy once.”
This means a brand should do everything possible to create brand loyalists because they are the ones who advocate your brand to their family and friends and help spread good word about your brand through word-of-mouth, the best form of brand promotion.
What is brand awareness?
The first step towards brand loyalty is brand awareness.
Brand awareness is the measure of how familiar customers are with your brand name, logo, products and services. Brand awareness is what makes your brands stand out from the crowd and the reason why customers will go to you rather than your competitor. It is what helps keep your brand top-of-mind and build emotional connections with consumers.
What is the difference between ‘brand recall’, ‘brand recognition’ and ‘brand reputation’?
‘Brand recall’ or ‘unaided’ brand awareness is an indicator for marketers to determine how well customers recognize and associate the brand with its respective category. For instance, when speaking of ‘coffee’, which brand comes to your mind? (Was it Starbucks???)
‘Brand recognition’ or ‘aided’ brand awareness is the awareness of consumers to identify your brand with cues like a brand logo or brand name. It serves as a metric for evaluating the overall awareness of a brand within a specific category. For instance, can you identify a brand correctly when you see the logo? (Was it Coca-Cola???) Brand recognition is the extent to which consumers are aware of your brand’s existence in the market.
‘Brand reputation’ is defined by the people’s perception of your brand including feelings, emotions and ideas they associate with your brand. The reputation of a brand is built through a strategic approach and a well-defined brand reputation strategy using marketing channels such as advertising, social media and public relations. Shopping experience, product quality and post-sales service contribute equally to the building of a brand reputation.
How does ‘low brand awareness’ impact business performance?
A strong brand with increased visibility is what customers reach for. In addition, a brand with high brand awareness drives sales, customer loyalty and better product recognition. However, low brand awareness can significantly impact a business’s performance in several ways. For instance, customers will not consider buying from your brand if they don’t know about it leading to reduced sales. Similarly, a strong brand presence is crucial for gaining market share and competing with brands that have a better recall in customers’ minds.
Without brand awareness, a brand cannot achieve loyal customers which is very important as “one committed customer is as valuable as ten customers who only buy once.” Finally, a lack of brand awareness can make your products or services seem less valuable which can hurt a brand image badly and affect its success in the long run.
How can you identify ‘low brand awareness’?
Identifying low brand awareness is not very difficult. Low website traffic, poor social media engagement, low search engine rankings and negative customer reviews are key ways to determine if your brand has a share in customers’ minds. If you look closely, everything from low website traffic to negative customer comments is interlinked with one affecting the other, reducing the overall brand awareness score.
How Maya Studios can help your business achieve higher brand awareness and boost profits
In this hyper-competitive world, where new brands are hitting the marketplace by the day, building brand awareness is essential for businesses of all sizes.
Our team of experts at Maya Studios can boost your brand awareness with multiple effective strategies. For instance, our experts will use the power of SEO to make your brand shine through the crowd. We use strategies like identifying relevant keywords to target your ideal audience and optimizing your website’s content, structure and meta tags to improve search rankings. Our team will ensure that your website is technically sound and optimized for search engines.
Our team is an expert at utilizing content marketing strategies to help brands gain higher visibility. We develop a content calendar to publish high-quality content. We create compelling content such as blog posts, articles and other content formats to inform and engage the audience and keep them coming back for more. We share content on relevant marketing channels to increase visibility and constantly track the performance of content efforts to make data-driven decisions and optimize campaigns.
In addition to content marketing, we use email marketing techniques to connect with the target audience. We segment email lists for our clients to deliver personalized messages and create compelling content that drives action. We automate email campaigns to nurture leads and drive conversion and constantly monitor email metrics to measure the effectiveness of your email campaigns.
By leveraging the power of effective digital marketing tools, Maya Studios can help your brand gain higher brand awareness, attract a wider audience and drive business growth.
We are happy to work with you and help you enjoy all the above and more. Let’s discuss this over a call in detail.
