![]() “In 2022, the aggregate value of the world’s 100 most valuable brands increased by over 22% and reached a record $8.7 trillion,” according to Statista. Brand awareness is important because it helps foster trust and allows brands to tell their story and build equity with consumers.Īccording to a 2022 global survey from Statista, 5 out of 10 consumers said they would be willing to spend extra for a brand with an image that appealed to them. After all, a strong brand is important, but to grow your business, you need consumers to know about it. That consistency-that repetition of messaging and experience-is fundamental to making your brand memorable, which is key to building brand awareness.īrand awareness helps your brand become top of mind with potential customers when they begin to consider purchase decisions. Companies build brands by delivering a consistent message and experience across touchpoints. ![]() It’s formed through the combination of all your experiences with them.Ī customer’s perception of a brand is based on a range of inputs over time. In your mind, your best friend has a brand. And based on that, you’ve developed a sense of who they are and what they stand for. Additional interactions with that person informed your feelings about them over time. The first time you met that person, they made an initial impression on you. ![]() It’s a combination of what products they sell, how they tell their story, their aesthetic, the customer experience they deliver, what the company stands for, and more.įor example, think about your best friend. Brand awareness, or recognition, refers to customers’ ability to recognize a product or service by name.Įver wonder why you recognize, remember, and have an association with a company, even if you don’t use their products? It’s because they have strong brand awareness, which means consumers are familiar with, or aware of, their brands.Ī business’s brand is much more than just a logo or a tagline. It is the first step on the path to purchase, as well as the starting point of their relationship with a brand. Brand awareness is the beginning of a consumer’s interest in a product or service.
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