What’s in a name, you ask? Everything. At a time of intense competition and rivalry between brands, brand awareness reigns supreme. From Coca-Cola to Google, Fair and Lovely to Maggi and Amul- these brands have left an ever-lasting mark on the masses. Achieving this level of proprietary eponym status is any corporation’s dream- 77% of people identify certain products with brand names! And at its centre is a great brand awareness strategy. Some of the most globally recognised brands spend billions annually on branding alone. But you don’t need the budget of billion-dollar corporations. All you need is an effective brand awareness strategy.
Coca-Cola campaign (Source)
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Do you want to learn more about this arsenal in the toolkit of industry leaders? Read on!
What is Brand Awareness?
Brand awareness is a broad term referring to the ability of consumers to recognise a brand name, its logo, its products and services, and the consumers’ familiarity with them. When you hear the tagline, ‘Taste of India,’ you will connect it with Amul. When you are craving instant noodles, you will likely look for a packet of Maggi. We don’t say search engine anymore- we Google things. You can undoubtedly identify the ringtone of an iPhone and recognise its logo anywhere. All these instances of recognition and familiarity boil down to brand awareness!
Generating brand awareness is not about simply creating a catchy tagline, a memorable tune, or an aesthetic logo. It is a long-term and continuous process that embeds the brand into the lives and minds of the target audience and the masses. It involves navigating the consumer through all five parts of the marketing funnel, namely, awareness, consideration, preference, action, and loyalty. If you need more convincing on the importance of brand awareness, keep reading.
What is the importance of Brand Awareness?
For every consumer need, countless businesses are vying to satisfy them through their products and services. Even if you have the perfect product or service, excellent price point, and helpful customer service, you can still crash and burn if you don’t have brand awareness. Let’s look at how brand awareness can put you ahead of your competition.
1. Brand awareness helps in customer acquisition
Brand awareness is the first stage of the marketing funnel. If consumers know and are familiar with your brand, they will buy it over others and even try the new product line. After all, 59% of consumers are willing to buy new products from trusted brands. But it takes at least 5-7 impressions for a consumer to remember your brand. So, putting your brand name out there is necessary to engage a broad audience.
2. Brand awareness promotes brand persona
Every brand has a story to tell and a message to give. Sharing it helps consumers bond with the brand, establish a persona and increase brand recognition. Build a brand image that consumers can trust and love. Additionally, consistent branding across platforms and channels can increase revenue by up to 23%. It can help create familiarity with the brand.
3. Brand awareness creates a brand association
The moment you want a crispy fried chicken, you are likely to think of KFC. Or, if you want to look up something on the internet, you think, “Let me Google it!” Through brand awareness, you can dream of becoming the new Coca-Cola! Brand awareness propels your products and services so that people think of your brand when they want to buy a product or service.
4. Brand awareness fosters customer loyalty
When you hear the tagline of Tata Salt, “Desh ka Namak,” you know that you are buying an emotion- a trusted product. Developing brand trust is the key to building brand loyalty. 46% of consumers in the United States said that they are willing to pay more for products from a brand they trust! Once you earn their trust, customers will return for more based on brand knowledge.
5. Brand awareness helps build brand equity
Brand equity is the measure of customers’ perception of the value or worth of a brand. How do consumers think and feel about your brand? Brand awareness can help build positive brand equity by increasing familiarity and brand recognition and fostering brand trust and loyalty. Look at the comeback Maggi made after its ban! It’s all about brand equity.
How to build Brand Awareness?
If you realise the importance of brand awareness, you are in the company of 77% of marketers who believe brand awareness has been central to growing and expanding their business. It isn’t a one-time magic trick to win the hearts of your audience. It is a long-term strategy to familiarise and establish your brand as a leader. The goal isn’t simply to make a sales pitch. It is about promoting brand recall, brand recognition, and brand loyalty.
It might sound like an uphill battle, but it’s worth the fight. Let’s look at the steps you can take to build brand awareness that will put you on the map.
1. Build your brand identity
Today, you are not simply a company in the business of selling. Treat your brand as a living, breathing entity. Make storytelling a part of your presentation. It takes only 10 seconds for your audience to form an opinion about your brand. Your brand has to have an identity that people can relate to emotionally and intellectually. Consumers are more likely to buy from you if they identify with your values- a staggering 77% of customers have stated this!
2. Actively use social media
If you want to make your brand the talk of the town (in a good way), social media is your best friend. With India’s number of social media users to breach the 1 billion mark by 2025, it has become the most important medium to generate brand awareness. Share your brand’s voice and make the audience a part of the conversation. Post, share, like, comment, and engage as you would with your friends.
3. Be authentic
Today’s audience wants authenticity. As they say, honesty is the best policy. 88% of consumers have stated they like and support authentic brands. Transparency, consistency, and value-driven business are critical to winning the hearts of consumers. 89% of customers stay loyal to brands that share their values. It helps the audience empathise and build connections between them and the brand.
4. Create shareable and fresh content
Content is king. 53% of businesses rely on content marketing as part of their branding strategy. Is the content you are sharing fresh and shareable? Will it engage the audience and start a conversation? Brainstorming new and attractive content that allows audience participation is integral to building brand awareness.
5. Track your success
Being mindful of what works and doesn’t in your brand awareness strategy is critical to determining your success. Instead of taking a shot in the dark, you will know what works for promoting brand recognition and awareness among your target audience. It will be fruitful in developing a future course of action to help your brand achieve its objectives. How to measure your success, you ask?
- Keep track of your website traffic
- Use surveys
- Search your brand on Google and use Google Alerts
- Social listening
- Track social engagement
Brand Awareness Strategies
Hoping to build brand awareness without a clear brand awareness strategy is akin to going into battle without a plan of action. So, what strategies can you adopt to make your brand the talk of the town?
1. Make interesting infographics and video content
Visual media is everything today, so use it to your advantage. Enrapture your audience using infographics and videos that tell are part of a narrative about your brand. Make it shareable and reap the rewards of virtual word-of-mouth marketing.
2. Create a blog or feature in a guest blog
Use blogs as a knowledge source about your brand for your audience. It is a space that connects with the audience over a long duration. If you are guest blogging, you can tap into an already available audience to share your content.
3. Partner with other brands
Partnering with brands with whom you can share an audience is a great way to build and share your consumer base. It’s not simply about increasing exposure but also showcasing shared ideals and values with the partnering brand.
4. Engage in influencer marketing
Influencers have tremendous clout in the age of social media. Collaborating with the right influencer who fits the brand image and the product opens up a follower base that can boost your brand awareness.
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5. Offer products and services for free
Giving your target audience a taste of your product before buying is a great strategy to cast your net wide. If you offer a service, providing a free version can also be an enticing option to raise brand awareness. Distribute merchandise that people can post about.
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6. Sponsor the right events
When you know your target audience, you know where to find them. Sponsor events that witness a footfall of your target audience to increase exposure. The sponsorship may be financial or in the form of providing a product or service.
7. Start your podcast
A podcast is a great way to share, educate, and connect with your audience. With podcast listeners growing in number, it has become an accessible way to inverse brand recognition and recall.
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Conclusion
Brand awareness is the first step towards leaving a mark in the hearts and minds of your target audience. A successful brand awareness strategy can make your brand a household name, draw customers toward it in droves, and build brand loyalty. It is a strategy for the long haul that requires commitment, consistency, and drive. Are you wondering how to get started?
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