Brand awareness has always been an area of confusion and complication for many companies and websites. Brand awareness is embedding your brand into a consumer’s lifestyles and their purchase habits to such an extent that the consumers don’t have to think twice before buying and coming back to your brand time and again. Just like you would have heard people referring to themselves as ‘Apple People’, ‘Nike People’, etc. This is exactly what brands need for brand awareness.
Further, in this article, we will be going through a detailed introduction to brand awareness and also a guide towards its importance. So let’s start!
BRAND AWARENESS – INTRODUCTION
Brand awareness is something that represents the familiarity of your target audience with your brand along with their knowledge and recognition of the same. Increasing and marketing or promoting your brand through successful brand awareness is very crucial in the early stages of a business. This makes it easy to establish your business and make it popular and trustworthy.
It may seem that brand awareness is vague, although it is; for those marketers who like to gauge success with easy numbers, brand awareness will come up as a challenge. However, just because it does not have a metric that can be easily determined doesn’t mean it does not carry value. Brand awareness proves to be extremely important for the success of businesses and its overall marketing goals. Let us know why.
BRAND AWARENESS – IMPORTANCE
Given the introduction of brand awareness, knowing its importance is equally important. Here are some reasons as to why brand awareness is important.
Consumers tend to rely on extensive research and others’ opinions whenever buying something. Thus, brand trust is everything. Once a consumer feels a connection to your brand, they will make purchases time and again with little to no forethought whatsoever. Just as we build our relationship with humans, the relationship of trust between human and brand is no different. All you need is winning the loyalty of your customers by building trust, and voilà!
We refer and associate some terms with their brand unintentionally. For instance, we say Google instead of search engine, Band-Aid instead of bandage, etc. These are brands which are so commonly used that we now use the brand itself to associate it with its usage. This is what brand awareness does. It creates an association of the brands and products with its actions and services. This subconsciously gets us to replace words with their brands. So effective brand awareness is responsible for association of words as well.
BUILDS BRAND EQUITY
Brand equity is what describes a brand’s value, which is determined by consumer experiences and the overall perception of the brand. Thus, positive experiences and perception result in positive brand equity and the same goes for negative notions. Brand awareness is the foundation or stepping stone to brand equity.
Some advantages of positive brand equity include a higher stock price, greater social impact, higher prices due to higher perceived value, etc.
So once a consumer is aware of your brand, they will recognize it without assistance and also prefer it over other similar brands. This will not only be restricted to that one consumer, but it will circle around with your relatives and friends as well. This is why brand awareness is so important. It allows your brand to become a household name and consumer staple.