Brand Awareness is how recognizable a brand is to a potential customer – and it’s worth big money to your bottom line. By building a recognizable, respected brand through a variety of marketing efforts more customers will be able to find your business, which means more sales.
Many factors affect your business’ brand awareness. An engaging logo, a unified brand presence across products and print and online material, and marketing and advertising efforts all contribute to the awareness associated with a brand. It is important to have a logo that is recognizable to associate with your brand – consider the Nike swoosh or the McDonalds ‘M’.
It is also important to be consistent with branding and corporate messaging across all channels of distribution confusion to customers, and a lack of recognition of the brand. Additionally, a strong marketing and advertising plan is important to get the brand out in front of potential customers.
It cannot be said too often….strong brand awareness is important to a business because it equates to more sales. When a brand has high awareness it will help bring in new customers, and if you deliver good value, quality and service it will keep them coming back. The more recognizable a brand is, the easier it is for customers to find you when they need your products or services. The ultimate form of brand awareness is Top of Mind Awareness. Top of Mind Awareness (TOMA) means that people automatically associate a brand with a particular type of product. Probably the best example of TOMA is Starbucks Coffee Company. When somebody says “lets get coffee” you’re first thought is probably a drink that comes in a white cup with signature round green logo – this is brand awareness at its best. Band-Aid, Scotch Tape, Bubble Wrap, and Kleenex are also good examples of Top of Mind Awareness.
Brand awareness increases a business’ profitability. High brand awareness not only brings new customers and drives repeat business, but it increases brand equity (as previously discussed), which allows the business to charge higher prices than that of generic equivalents or competing brands. Customer loyalty and social engagement is a big benefit of brand awareness as well. When customers engage and tell other potential customers about your product, service or business, you are doing something right. In a sense, a business’ brand influences the whole business at every level.
Caliber Media Group has years of experience in building brands and brand awareness as well as running successful strategic marketing campaigns. If you would like to grow your brand, contact Caliber at 714.867.1600 or visit CaliberMediaGroup.com.