The degree of consumers’ familiarity with the existence and accessibility of services or products is called brand awareness. Brand awareness is comprised of brand recognition and recall.
Brand awareness is the most vital element of marketing campaigns of a startup. Educating possible clients to a service or product in a correct manner is always important. Furthermore, the giving of promotional items boosts the chance of getting people’s attention. Just like meeting new people, first impressions matter. Brand awareness is the magnitude to which buyers can exactly recognize the commodity a brand offers. This can either bring total success or failure to a company. Here are the reasons why brand awareness is important:
Advantages of modern technology and social media
In this era of continuous developments in technology, brand awareness is highly significant for any business. Whether it is a smartphone, a tablet or a laptop, people nowadays have some sort of digital device with them. This goes to show that they can easily relay messages to one another in just the blink of an eye.
Many companies might be benefited by this, depending on how they utilize and adapt to these technological improvements. Being active in promoting a brand via social media will bring existing consumers to a healthier brand involvement. At the same time, this converts potential consumers into brand patrons. Below, are some of the social media platforms which can effectively grow brand awareness.
To have repeat purchases
As stated in research conducted by Gerald Zaltman, a Harvard Business School professor, the percentage of purchase decisions controlled by the subconscious mental process is up to 95%. Brand awareness plus great marketing strategies together with what the company can offer efficiently entices and prompts your target consumers to feel associated with and be empowered by the brand. Brand awareness influences people’s thoughts and perspectives. These motivate brand selection and promote loyalty. This results in repeat purchases which are vital to any businesses. All these are unlikely to happen without brand awareness.
Raise market share and sales
Growing brand awareness also raises the company’s market share. The first to break its brand into buyers’ attention increases the gap between them and the other firms that are attempting to enter within the market.
Aggressive advertising and marketing are the main elements in expanding brand awareness. These translate into market share, according to the Strategic Planning Institute. Brand awareness is a part of a consolidated marketing application that leads to a gradual increase of gross profit.
In the search for the best marketing strategy for the company, do not hesitate to try new and creative approaches. Growing brand awareness is not an easy thing to do. It takes time, determination, funds, and numerous trial and error. The results will not come instantly. Be patient because having a compact and reliable brand is essential for any business to succeed.