Today we’ll share some crucial branding statistics and trends.

Branding is essentially how a company presents itself to the public. A company’s brand identity is much more than the company’s logo or the product or service being offered. Branding is how we communicate with consumers, differentiate from our competitors, and create a name for ourselves in a world full of startups and great ideas. A strong brand can ensure longevity and immediate recognition, while a poor one can repel potential customers.

Successful entrepreneurs know that good branding is a vital factor in determining success. Still, with so much advice and many statistics on the topic, it’s not easy to figure out what’s important. 

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Branding Statistics Highlights

1. 77% of consumers purchase items because of the brand name.
2. It takes about 7 seconds for your customers to make their first impression of your brand.
3. 86% of consumers agree that one of the most important factors for brand loyalty is authenticity
4. consistently presented brands are 3.5 times more likely to have excellent brand visibility
5. On average, it takes 5 to 7 impressions for people to remember your brand.
6. Presenting a brand consistently across all platforms can increase revenue by up to 23%.

Branding – Key Statistics

77% of consumers purchase items because of the brand name.

When consumers buy from brands, they are essentially placing their trust in them. According to a survey, 77% of consumers say they pay more to purchase from brands they trust. It’s safe to say that when brands build trust, consumers reward them. It’s becoming increasingly important to have a strong brand, a recognizable name, and a logo that rises above the rest. Your brand values help increase relatability and foster stronger relationships with your audience. A brand is your company in the present, future, and perceptions of the public. Essentially, branding is about communication.

It takes about 7 seconds for your customers to make their first impression of your brand.

Every entrepreneur knows that first impressions are essential. Within the first 7 seconds of meeting, people will have a solid impression of who you are — and some research suggests a tenth of a second is all it takes to start determining traits like trustworthiness. Make your website intuitive to use. New visitors should be able to instinctively know where to find your products and be able to navigate your website cleanly, without any hesitation. If they’re confused in the first few seconds, they will leave.

86% of consumers agree that one of the most important factors for brand loyalty is authenticity

Your customers’ core values have to match your brand’s. And 86% of consumers agree that authenticity is one of the most important factors for brand loyalty. Any successful marketing strategy starts with research. If you’re going to connect with your audience, you have to be on the same wavelength. Creating fictional customer personas (based on accurate data) is a popular way to get to know your audience. Once you’ve identified the different demographics in your audience, you can find a common theme that links them. Then you’ll build your brand voice that can speak to all of them. 

They all have a problem, and you need to show you can fix it.

Consistently presented brands are 3.5 times more likely to have excellent brand visibility.

A brand consistently across all platforms can increase revenue by up to 23%. Plus, consistently presented brands are 3.5 times more likely to have excellent brand visibility than those with inconsistent branding. Well, consistent branding leads to increased brand awareness which can then help gain investors and drive revenue to your business. Therefore, keep your graphics consistent, including your typography, images, charts, and graphs on brand. Branding is important for your business to succeed.

On average, it takes 5 to 7 impressions for people to remember your brand.

It will help if you put your brand out there for people to recognize it. With a plethora of brands on the market, people need to see your logo more than 5 times to be able to connect it with your company. It takes 5 to 7 impressions for people to remember a brand. Each time your ad appears on a search page, the impressions on your page increase. It quantifies the number of views or people engaged in your piece of content.

We suggest using social media and professional branding techniques to send consumers a consistent yet dynamic brand message daily. 

Presenting a brand consistently across all platforms can increase revenue by up to 23%.

If your product packaging, social media posts, website, and promotional material send a consistent message about your brand identity and core values, you are more likely to cash in. The importance of brand recognition comes down to higher revenue.

Other Important Branding Stats

•  84% of marketers say brand awareness is the most important goal for their brand.
• Another stat shows how important branding is to marketing: 77% of B2B marketers say branding is essential to company growth.
• 52% of customers did not return to a business due to bad branding and overall design.
• 86% of consumers prefer an authentic brand image and an honest personality.
• Only 18% of consumers say they would perceive a brand name change positively, meaning once you solidify your brand, you should stick with it.
• 72% of the best brand names are made-up words or acronyms. Words that mean nothing else other than your business name automatically increase brand strength.

Conclusion

Without stable, consistent branding, your company’s growth will be severely stunted. By focusing on some of these statistics, you can push ahead of the competition, generate more sales, and establish long-lasting relationships with existing customers. With the massive popularity of social media, don’t forget to represent your brand on the channels your customers frequently visit. It can bring you a lot of exposure and new leads. 

We hope that these insights inspire you to either start building your brand or help how you may improve an existing one. It’s never too late to make an impact!

Sources

https://www.tailorbrands.com/blog/branding-statistics/

https://www.oberlo.com/blog/branding-statistics

https://www.smallbizgenius.net/by-the-numbers/branding-statistics/

https://visme.co/blog/branding-statistics/