In this article, we’re going to take a look at important branding statistics to help you drive sales performance for your business. We’ll define what branding is and examine how certain branding facts are important focal points. By keeping these brand awareness stats in mind, you can turn potential leads into loyal repeat customers.
What is branding?
Branding is essentially how a company presents itself to the public. This generally includes a mission or idea, design, and phrase that defines the business and makes it recognizable. Branding is about creating an authentic and relatable corporate identity.
What are some types of branding?
There are several types of branding. Some of the most common include:
- Corporate branding: This type of branding sets a place for the company in the market and industry by creating an identity that your customers can recognize and value.
- Product branding: You can use product branding to launch a new product and secure a place for it in the public mind.
- Ethical branding: This is a form of branding that is used more and more today, as the general public finds value in sustainability and social responsibility. It assures the public of a corporate commitment to social values. Fairtrade is a good example of this type of branding.
Why is branding important for small businesses?
Branding is important for many reasons, and in this section we’ll highlight some brand awareness stats to highlight why. Branding helps to secure an identity within your industry and allows you to be competitive against other companies. It offers customers a window to your purpose, mission, or service. Branding can also establish a strong reputation and add value for the consumer.
11 Branding Statistics to Keep in Mind for your Business
1. 77% of businesses use social media for company branding
This is unsurprising, as 68% of adults in the United States are Facebook users, with other social media platforms like Instagram and TikTok also extremely popular (especially with younger users). Even 44% of local businesses say that they use social media to drive brand awareness.
2. 80% of businesses are using Facebook every month
Since Facebook is the largest social media platform, it makes a lot of sense that most businesses are using it to build their companies’ brands. The average person spends over 2 hours a day on social media, so this is where you want to be if you want to engrain yourself into consumers’ minds.
3. 49% of consumers become customers after coming across a company’s branded social media post
49% of people between the ages of 18 and 29 say that they’ve bought a product after seeing a social media post about it. Even more importantly, a whopping 71% of customers report that they will recommend a product to a friend or family member if they’ve had a positive experience with a brand on social media.
4. It takes 3 seconds to make a first impression
According to recent eye-tracking research done by the Missouri University and Technology, it only takes 3 seconds for a social media post to make a first impression. In fact, some studies show that the brain begins to form an impression just tenths of a second after seeing something. Start by figuring out your brand identity!
5. A customer needs to see your brand 7 times to remember it
In general, it takes around 5 to 7 impressions for a person to remember your brand. This means you want to get it out there…it’s not just about eyes seeing it, but about repeated interaction.
6. 59% of customers don’t return to a business because of poor branding
This is generally due to a bad customer service experience. It’s important that you build a sense of reliability for your company. If customers don’t see your brand as trustworthy, then they will quickly move on to a competitor that is.
7. 60% of customers prefer a company’s branding to be authentic
The majority of consumers want to feel that a company’s branding is authentic. This means that it speaks to a true need and doesn’t lean on salesy tactics and language.
8. 57% of customers think that half the content companies create is not actually authentic
The public is not easily fooled. They can spot phony storytelling or false voice pretty easily. Most customers would rather have an old-fashioned company lean into their stuffy reputation than try to seem hip and not pull it off.
9. 94% of customers return to companies whose branding they like
More to the point, these customers stated that they’d demonstrate loyalty to brands that they identify as transparent. People want honesty and authenticity in their brand. Creating a true brand is the first step in building a solid consumer base.
10. 70% of social media specialists believe brand awareness is their most important goal
More and more, brand awareness on social media platforms has become (and continues to be) the number one driver of sales.
11. 90% of consumers prefer to shop from brands they follow on social media
This is a huge number. It demonstrates the power of a really engaging brand. By creating an identity, sharing engaging content, and offering valuable benefits, you can create a following that will become a loyal customer base.