Creating an instantly recognizable brand is one of the most challenging missions a business owner can take on. Millions of businesses are vying for attention from consumers around the world. The businesses that rise to the top usually understand the value of great branding. Multiple studies show that it takes up to seven impressions before a consumer remembers a brand.
If your main goal is to create a reputable and noticeable brand for your business, you need to become familiar with the term brand awareness. Read below for more information about this commonly used term and what you can do to improve your company’s brand awareness.
What is Brand Awareness?
Most business owners work extremely hard to identify their target audiences. Brand awareness is a term used to describe how familiar the people in your target audience are with your particular brand. Companies with great brand awareness are instantly recognized by both their customers and people who are familiar with their industries. A high degree of brand awareness can also be classified as a company being popular, trendy or buzzworthy.
Having great brand awareness is especially important when attempting to market new products/services. You need to realize that building great brand awareness is an ongoing and often difficult process. This is why working with marketing professionals in an attempt to build your brand is a wise move.
Why Is Brand Awareness Important?
You may be wondering why investing time and money into brand awareness campaigns is necessary. If you want to grow your business and generate more revenue, you have to focus on developing a brand that people want to engage with. The higher your brand awareness is, the easier it will be to gain the trust of potential customers.
If consumers are able to find lots of information online about your brand, then they can vet just how well your company has performed for others in the past. Better brand equity is also a bi-product of a successful brand awareness campaign. Positive brand equity allows you to do things like:
- Have a greater social impact
- Demand higher prices due to the perceived value of your brand
- Easily expand product lines and services
The foundation of great brand equity is creating a positive image for your business. This positive image starts with a well-thought-out brand awareness campaign.
Great Ways to Build Brand Awareness
Now that you know how important it is to have brand awareness, we will discuss tips for how to achieve your branding goals. One of the main things you need to do when trying to highlight your brand is to guest post on popular websites that allow you to insert backlinks into the content. By doing this, you can drive more traffic to your website and expose a larger portion of your core demographic to what your brand offers. You also need to think about developing a referral program so you can put your loyal customers to work to help you accomplish your branding goals.
By focusing on brand awareness, you can grow your customer base substantially.