Brand Awareness – What It Is & How it Can Help Your Business
Updated: Nov 6, 2018
If you’ve ever had the pleasure of sitting through a long marketing meeting, the phrase #brandawareness probably isn’t new to you. If you haven’t, then we’ll help you skip straight to the good part. What is it, how do you get it, and why do you care?
Read on for a crash course in this important business metric that marketers are striving to master:
Brand Awareness Defined Marketers love to give fancy names to relatively basic concepts and “brand awareness” is the perfect example. Put simply, brand awareness is how aware of your brand people are. For example, if asked to list brands in your industry, would the average person remember yours? Is your logo recognizable? Do consumers have any thoughts or feelings about you when they hear your name? Brand awareness is a culmination of all of these things and is an important metric to monitor.
The Perils of Anonymity Pretend you’re watching a beer commercial. You see happy people dancing, foam flowing over the rim of a tall glass and maybe a few amber bottles partially submerged in a cooler. Have you ever walked away from a commercial like that thinking “Wow, they made me want a beer” but unable to remember which beer company “they” were? If so, you’ve seen what happens when brand awareness fails. It’s all well and good to make a superior product, have the best prices and run a million ads, but if no one knows who you are, your sales won’t see any growth. In a case like the beer commercial, you’ll be inspired to have a beer but instead of going with the brand that ran the ad, you’ll probably go with whichever brand you know off the top of your head.
People don’t buy the best. They buy the best that they can remember.
How to Build Brand Equity Of course, your brand’s quality is still a key factor. At the end of the day, if you’re famous for failures, then no one will want your brand. The value you build by being a “good” brand with quality products, swift service, and a strong, relatable mission is called your brand equity. If you do a great job on a client’s kitchen renovation, they will likely develop a favorable opinion of your #business. Now your logo, slogan, and business name (aspects of your brand) have more value because they are associated with a positive experience. Building brand equity comes from delivering consistently good customer experiences and resolving any issues quickly and effectively. It’s that simple.
From Equity to Awareness The tricky part comes when you try to convert your brand equity into awareness. As mentioned earlier, being memorable is necessary to driving sales growth. You may have the best brand equity, but if only 10 people know about it, you’re limited to only 10 customers. You’ll likely get some momentum from good, old-fashioned word-of-mouth, but you can help things along with ads, social media, mailings, and promotional events. Marketing promotes #awareness when it’s done correctly. The correct way (aka how to avoid being that anonymous beer company) is to be consistent. Use the same set of colors, logo, slogan or other specific message in all of your promotions.
According to LinkedIn, the average person needs to be faced with a message at least 5x before they even read it, so repeat, repeat, and repeat! By using the same message and creative execution, customers begin to register your different pieces of marketing as one loud message.
In a world where consumers are bombarded with literally hundreds of ads a day, it could take you up to twenty impressions (across various mediums) to finally be heard.