19 Branding Statistics Small Businesses Need to Know

With the help of little-known statistics, a small business can make significant improvements to its branding and marketing strategy. This article will lay out 19 brand building facts that any small business owner should know about before embarking on their next venture.

The “branding statistics forbes” is a blog post that consists of 19 branding statistics small businesses need to know. The article provides valuable information on how to brand your business effectively and what tactics you should use when marketing your company.

A brand is more than just a color scheme and a logo, but they are important. It’s a depiction of every aspect of a firm’s interaction with its consumers or clients that influences how a company is viewed in the marketplace. Discover 19 fascinating branding facts in this post that will persuade you to pay attention to your brand and invest in reputation management.

1. Shared Values are responsible for 64% of all brand relationships.

Brand connections are driven by shared values, according to the Harvard Business Review. Your brand must connect with the values of your target audience and transmit them in a manner that builds relationships between your business and its consumers.

Branding is communicated via encounters and experiences. Apple, for example, is known for its speed, coolness, and wow factor when it comes to technology. Chick-fil-A comes to mind when you think of religion, family, excellent service, and delicious cuisine.

This branding data demonstrates that every every connection and experience matters, from the first time a consumer interacts with your brand until the moment they move on to something else.

2. Familiar Brands are preferred by 59 percent of consumers.

Here’s another reason why increasing your brand recognition is beneficial: Customers prefer to shop from well-known brands, according to 59% of them. People will purchase from you more if they identify, respect, and believe in your brand. Customers desire brand consistency to enhance brand familiarity in addition to brand familiarity.

Consumers want companies to be consistent across all platforms and channels of interaction with them, according to 90 percent of customers. Consider how large fast-food companies succeed: although there are places with superior cuisine everywhere, consumers choose to patronize the restaurants they are familiar with because of their constancy. They aren’t going to be astonished by the flavor of the dish. They would rather eat lower-quality cuisine that is consistent than try something new that they may or might not enjoy.

This branding data demonstrates that you may compete with larger industry competitors if your brand is well-known and your service is consistent.

3. It takes between 5 and 7 impressions to create brand awareness.

Customers will forget a brand after just viewing it a few times. To recognize a brand, people must be exposed to it five to seven times. It takes a lot of exposure over time for a brand to become recognizable enough for people to recognize it by name. This is why commercials and advertisements are so crucial. People get exposed to the brand even if they don’t purchase since they watched one single ad.

4. You just have seven seconds to make a good first impression.

Humans scan their surroundings and generate quick impressions. Whether you’re meeting someone for the first time or meeting a brand for the first time, this is true. Customers make a quick choice whether or not they like and trust your brand in 7 seconds. This brand statistic demonstrates the importance of investing in great branding, particularly visual branding, which accounts for a large portion of initial impressions.

5. An 80 percent increase in brand recognition using a “signature color”

The color, logotype, and other features of your brand’s design are all part of visual branding. Among these characteristics, “color” improves brand awareness by an incredible 80 percent.

Blue and hues of blue are the most popular brand colors. In the logos of around 30% of companies, there is a hue of blue. Color has diverse connotations depending on culture, but in Western society, blue connotes security, dependability, and seriousness.

One of the reasons why companies like IBM and Chase Bank utilize blue in their logos is because of this. This branding data demonstrates why choosing colors for your branding is so important.

Reboot is the source of this information.

6. Content marketing leads to a threefold increase in brand engagement.

Content marketing generates three times the number of leads as advertising. It promotes brand engagement, which leads to increased brand awareness, recognition, and recall. Investing in high-quality content, particularly tailored content, allows individuals to engage with the brand’s voice and form connections. It is less expensive than pay-per-click (PPC) advertisements, and it builds client trust by offering helpful information on issues relevant to the brand’s specialty.

Customers want targeted ads in 7.48 percent of cases.

Many consumers, particularly younger ones, have come to terms with the fact that their data will be sold, whether they want it or not. It’s the cost of doing business online. They want corporations to market to them, targeting their specific interests and lifestyles and delivering them things that will make their lives better, as long as their information is gathered and sold.

They don’t want to be constantly assaulted with advertisements and information, particularly regarding irrelevant and boring topics. They want businesses to advertise when they want to be promoted to, with things they want to view, and in non-annoying ways.

8. Self-promotion might cost you followers if you do it too much.

Consumers are likely to unfollow a business on social media if it spends too much time marketing itself, according to 45 percent of customers. Keep in mind that everyone is listening to the same radio station: “WIIFM.” It stands for “What’s in it for me?” and is an acronym.

Make a consumer persona, or an ideal customer, and consider how your brand may help that individual solve challenges. Then, to establish a successful formula, focus your social media marketing efforts on that story.

According to branding data, people who follow a business on social media are 72 percent more likely to purchase from them in the future, thus gaining and maintaining social media followers is critical. Instead of only pushing your items, provide knowledge and interaction that will benefit your niche’s clients. You will build loyalty if you focus on improving their lives.

9. The majority of people only follow a few brands.

Winning clients on social media requires time and effort. On social media, almost half of consumers only follow one to four businesses, and another quarter follow fewer than ten. It’s a difficult endeavor to get into the coveted place where clients are eager to have you appear on their feed. It’s all about connections once again.

Customers want to feel like they have a connection with the brand, according to brand statistics. They’ll spend time with your brand if you establish yourself worthy by providing great material to your consumers.

10. Over 73 percent of customers prefer to do business with companies who provide excellent customer service.

Many small company owners lament the fact that they cannot afford to invest as much on branding as their bigger rivals. This may be true, but the amount of money spent on a new logo or an ad campaign isn’t usually the most important factor. Providing exceptional customer service and insisting on it across your organization, for example, costs little or nothing. When it comes to good brand impressions, though, it produces tremendous effects.

Focusing on your customers’ experiences with your firm and developing new and better methods to produce pleasant experiences is worth the time and effort, according to a Harris Interactive survey.

11. Customers make decisions based on their experiences with customer service.

Consumer service is a major deciding element in whether or not a customer would purchase from you again. Customers are also highly inclined to share their positive or negative customer service experiences on social media. Those reviews are significant: Customers who read a positive evaluation of a brand’s customer service said the review influenced their purchasing choices 90 percent of the time, whereas 86 percent of those who read poor customer service reviews said the reports influenced their purchasing decisions.

12. A long-term customer is worth ten new customers.

Brand loyalty may be quite valuable. In fact, a devoted client may be your finest advocate, spreading the word about your firm to a large number of friends over time. Brand loyalty generates ten times more earnings than a single transaction. The finest kind of advertising is word of mouth, which your devoted consumers may provide. This brand statistic demonstrates that establishing, enhancing, and boosting brand loyalty has significant long-term advantages.

Increased customer retention by 13.2% may result in a 10% cost reduction.

Because you spend less on acquisition advertising, customer retention, or retaining consumers coming back to your organization, cuts expenses by 10%. The stronger your brand, the more people will know about it, and the simpler it will be to keep it front of mind among your consumers.

Improved branding results in increased awareness and sales. As a result, the amount of money you have to spend on advertising is reduced. It’s a virtuous cycle that begins with a positive customer experience and continues with consistent beliefs, goods, and services to welcome consumers.

Customers consider private label brands to be a good deal.

Products made by a third party and branded with the brand of another are known as private label brands. Many small companies employ private label trademarks to enhance their brand image and provide clients with a reason to purchase at their establishments. For sales, these “exclusive” items depend on brand image rather than product uniqueness. Small company owners may use the good perception of private labels among customers to create their own branded items.

Customers purchased more private label products in 2020 than ever before. For example, 58 percent of customers said they switched because their favorite brand wasn’t available, 40 percent said they’ll keep buying the private label brand they moved to, and 48 percent said they’ll keep buying the private label brand because it’s cheaper.

15. If you have a positive impact on your customers, they will pay you more.

The Conclusion isn’t necessarily the price. Many clients are prepared to pay a higher price for a company that shares their beliefs. Around 13% of consumers are prepared to spend 31% to 50% extra to businesses that they believe are having a beneficial influence on the globe. This is a crucial branding fact since many people believe that cheaper is always better, but this isn’t always the case.

16. Transparency may increase customer loyalty in 94 percent of cases.

Customers desire to purchase from well-known companies. They are concerned about a variety of ethical concerns, and they want to support businesses that share their beliefs. No one wants to provide money to shady businesses that defraud others.

According to a poll of 2,000 consumers, 94 percent of them would be loyal to a business that was entirely honest. Furthermore, transparency ranked first among the variables that would affect brand loyalty. This brand statistic demonstrates that honesty is the best policy.

Customers share deals with their friends 17.62% of the time.

The most successful kind of advertising is word of mouth, and social media is an immensely powerful arena for brand word-of-mouth sharing. Running social media promos and encouraging clients to share your offer is a great way to spread the news about your business and get new followers and leads. Make the most of this brand statistic by giving discounts and freebies that need consumers to like and share in order to get the discount.

18. Social media may increase your sales by 32%.

Stores with a social media presence generate 32 percent more sales on average than those without. Hiring an excellent social media expert is definitely worth the expense. Your Facebook, Twitter, and Instagram profiles can help you gain consumers and increase income by posting compelling content and providing real-time customer care, which helps you seem trustworthy to prospective customers.

Check out our entire guide to social media advertising for additional information on how social media may help your small company.

Social media marketing is effective for 19.73 percent of marketers.

The place to advertise is on social media. Customers use social media to examine how businesses manage customer service and how responsive they are to client feedback. Deals and reviews are shared among social media users. Facebook, for example, is utilized by 68 percent of people, making it the most popular social networking site. As a consequence, 73% of marketers say that social media is either somewhat or highly successful for their company.

These branding statistics demonstrate the value of investing in a successful social media campaign.

Conclusion

It is prudent for small company owners to devote time and attention to their branding. A well-known, powerful brand may be worth millions, if not billions, of dollars.

To create such a brand, start with exceptional service, which is free to execute save for time and training. Increase brand recognition by using an identifiable brand image that is used consistently across all marketing platforms. With the knowledge gained from these branding data, you can create a strong brand that will help you retain more consumers while lowering marketing expenditures.

A consistent presentation of a brand has seen to increase revenue by 33 percent.

Related Tags

• how does branding increase sales
• branding facts 2022
• presenting a brand consistently across all platforms can increase revenue by up to 23
• 89% of shoppers stay loyal to brands that share their values.
• brand partnership statistics