Branding plays a vital role in the marketing efforts of any business. It’s one of the first tools you’ll be able to use to build your credibility and distinguish yourself from the competition. At first, glance, doing this might sound quite a simple process.
If you think of your brand as a core message that differentiates you from other businesses, then creating a brand should be no different from creating a marketing strategy and setting goals. However, that’s not really the case. Branding represents far more than simply one piece of your entire marketing plan and even business practices.
There are certain statistics that prove branding plays a crucial role in the marketing efforts of your business.
Top Branding Statistics
- It takes about 5 to 7 impressions for people to recollect a brand.
- Colour improves brand recognition by up to 80%
- About 73% of consumers love a brand due to great customer service.
- Keeping your brand consistent across all platforms can increase revenue by up to 23%.
- 1/3 of the world’s top 100 brands include the colour blue in their logos.
- 72% of the simplest brand names are made-up words or acronyms.
- Brands with poor company branding pay 10% higher salaries.
- More than 70% of name managers consider building an audience to be more important than converting sales.
- 89% of shoppers stay loyal to brands that share their values.
- Brands that blog generate 67% more leads than people who don’t.
General Branding statistics
Branding is what separates you from your competitors while also supplying you with the way to square out. It allows your personality to shine and show how you’re different than the opposite businesses around you.
Many small businesses ignore branding because they think it’s too expensive or too complex. But it mustn’t be either of those things. Here are the statistics that show why it’s important to brand your business.
- More than 1/2 of marketers want to enhance their brand’s reputation by creating original content per a recent survey from BrightEdge.
- 81% of marketers expect their content strategy to become even more important within the next year.
- A study done by the Content Marketing Institute shows how truly effective a decent branding message is on the success of a corporation. In this study, they found that individuals were 61% more likely to shop from companies that delivered unique content.
- 94% of shoppers are likely to indicate loyalty to a brand that gives complete transparency.
- On average, it takes 5 to 7 impressions for people to recollect your brand.
- 73% of consumers love a brand due to helpful customer service.
- 73% of individuals prefer brands that personalize the shopping experience.
- Color improves brand recognition by up to 80%.
- 62% of consumers share online deals with their friends.
- 64% of girls and 68% of men have felt an emotional reference to a brand.
- 39% of consumers would start employing a brand if it offered full transparency.
Small Business Branding Statistics
One of the key elements in branding your small business is knowing the latest statistics. Branding statistics have changed from just a few years ago, including those of small businesses.
Below will be lists of small business branding statistics that you can use to market your brand.
- 73% of small businesses invest in social media marketing as a part of their branding efforts.
- About 95% of small businesses intended to extend their marketing budgets in 2019.
- Only 34% of small businesses invest in video marketing.
- 64% of consumers purchase a product after watching a branded video on social networks.
- More than 80 million small businesses use Facebook each month.
- About 67% of small businesses pay $500 for a logo, while 18% can pay up to $1000.
- 80% of design crowdsourcing is finished by startups and tiny businesses.
Accelerate your Brand Growth
Branding is dependent on various factors which have been listed above. it’s vital for any individual or company to excel in these factors to build an effective brand identity. If a corporate lacks one of the aforementioned elements, then it’ll not be as productive as it should be.
Trying to be all things for all people, generally speaking, isn’t a very efficient approach to business, and the same can apply to branding efforts. Take the time to gain deep understanding of your brand and the image that you wish to convey. When you do, you will be able to effectively communicate that image throughout your entire branding effort.
As always, it is extremely important to remember that branding is ultimately what you make of it, so don’t be afraid to get creative with your strategy. Just make sure you’re doing it with purpose and are crafting a deliberate, well-thought-out plan.