There is a lack of awareness pardon the pun, about the importance of brand awareness. This is because many people think that branding is only for big businesses. However, this is not the case. Branding is important for all businesses, regardless of size. The main reason why branding is so important is that it helps businesses to stand out from their competitors. It also helps businesses to build trust and loyalty with their customers. Branding can also help businesses to attract new customers and grow their business.
Many businesses don't invest in branding because they don't see the immediate benefits. However, branding is an important long-term investment that can help businesses achieve their goals.
According to HubSpot's it's clear that brand awareness has become a top priority for marketing leaders in the past year. But why the sudden shift? And what can you do to follow suit and increase brand awareness for your organisation?
It's no secret that the landscape of marketing is ever-changing, and what may have worked in the past may not work now. To stay ahead of the curve, it's important to be adaptable and always be willing to try new things. Increasing brand awareness should be done through inbound marketing methods - but that doesn't mean that's the only way.
There are many steps you can take to increase brand awareness. The most important thing is to start taking action and see what works best for you and your organisation. Experiment with different methods and track your progress so you can continue to optimise your efforts!
Brand Awareness - What Does It Mean?
Brand awareness is the extent to which buyers are familiar with a particular brand and its associated products or services. It. Brand awareness is a key driver of brand equity and is often considered to be the first stage in the consumer decision-making process.
There are two key elements to brand awareness: brand recall and brand recognition. Brand recall is the capability of clientele to recall a brand when given a cue, such as a product category or a company name. Brand recognition is the ability of people to identify a brand when given a cue, such as a logo or a tagline.
Brand awareness is a key driver of brand equity and is often considered to be the first stage in the consumer decision-making process. Businesses need to build strong brand awareness to increase sales and market share. There are several ways to build brand awareness, including advertising, public relations, and social media. A company's name recognition and recall are more important than ever today. This is because brand awareness is a key indicator of how well-known a company is. Companies that have effective brand awareness strategies will be top of mind when buyers are ready to research or make their next purchase. They can also be perceived as an industry authority if they've increased their brand awareness using tactics like educational blogging, thought leadership, or inbound marketing.
The importance of brand awareness can be easily understood, but we can also see why it isn't often discussed in boardrooms. Leaders in marketing are beginning to prioritise brand awareness in their strategies for 2022, but why is this? And what has caused this change?
1 Trends in Buyer Behaviour Are Changing
As the internet continues to grow and evolve, so too does the way that consumers find and engage with brands. No longer are they relying on traditional marketing methods to learn about new products and services. Instead, they are turning to the internet and using search engines to find the information they need.
Increasing brand awareness for your business can feel like a daunting task, but one method of marketing that is guaranteed to be effective is inbound marketing. It's a great way to reach your target audience, build trust, and establish credibility. With everyone suddenly having to go digital due to the pandemic, it's no surprise that inbound marketing has seen a recent surge in popularity. The pandemic compressed years’ worth of digital adoption into months
- In just five months, Disney+ built a subscriber base as large as Netflix's seven years ago.
- There was also an increase in remote working, learning, and shopping.
Consumer trends are always changing, and that means brands have to change with them if they want to stay relevant. This can be a great opportunity to raise brand awareness and expand your market reach. You can also target new buyer personas who might not have been reachable before. Even if they're not actively searching for your product or solution, they can still be served with valuable content through targeted marketing campaigns. And if you have shaken brand loyalty, this could be an opportunity to disrupt repeat purchases and build new relationships.
2 Competitiveness on The Rise
Reliance on digital was growing before the pandemic began. And a meaningful amount of this online penetration is expected to persist after the pandemic is over.
As digital marketing, PPC promotions, new content initiatives, and social media strategies become more prevalent, businesses are increasingly required to focus on brand awareness. This shift in focus means that businesses must put more effort into promoting their brand and making sure that their target audiences are aware of their products or services.
There are several ways that businesses can promote their brand and increase brand awareness. Digital marketing techniques such as search engine optimisation (SEO) and pay-per-click (PPC) advertising can be used to reach potential customers online. Additionally, creating new content such as blog posts or infographics can help to educate audiences about your brand and what it has to offer. Finally, using social media platforms to engage with potential and current customers can also help to increase brand awareness.
By using a combination of these techniques, businesses can ensure that their brand is front and center in the minds of their target audiences. With brand awareness comes the potential for increased sales and customers, so businesses need to make this a priority.
3 Authenticity Is in High Demand
In today's business world, authenticity is in high demand. The general public are increasingly interested in buying products and services from companies that they perceive to be genuine and trustworthy. As a result, brand awareness is more important than ever for businesses.
According to HubSpot's report, "Not Another State of Marketing," customer experience was the number one driver of growth in 2021.
A strong and recognisable brand can help businesses to attract new customers and build loyalty among existing ones. Brand awareness can also be a powerful tool for differentiating a company's products and services from those of its competitors.
However, brand awareness on its own is not enough to solve this challenge - a joined-up strategy is required that incorporates marketing, sales, and service functions working together around the customer.
Regarding inbound marketing's role in increasing brand awareness…
To keep up with the accelerating digital transformation and generate leads more effectively, it is important to pivot the marketing strategy to focus on brand awareness. This can be done most simply through inbound marketing, which involves providing quality content that is tailored to your buyer personas and their needs. Inbound marketing will result in increased referral traffic and sustainable growth for your company in the long run.
“HubSpot reports that 27% of marketers say they will begin using inbound marketing in 2022, while 11% say it will be their biggest investment.” ‘ The Marketing Trends of 2022 ’, HubSpot
In 2022, brand awareness has been transformed into a strategic marketing objective. This shift has been driven by the rise of social media and the increasing importance of online visibility. As a result, companies are now focused on creating content that will generate buzz and build their reputation.
In the current market, traditional advertising isn't as effective as it used to be. Companies are now investing in influencer marketing, search engine optimisation, and other strategies to reach their target audience.
If you want your company to stay competitive and grow, your marketing strategy should include tactics that help you reach a broader audience. Do some research to see how well your brand is recognised by its target buyers. This way, you can make changes to improve your chances of success.