Every day people are bombarded with hundreds, if not thousands of companies throughout the day. Think about it, from radio to social media, and TV to billboards, brands are constantly looking to attract their target audience and get them to convert in some way.
It’s overwhelming right?
In order for someone to notice a brand in a society that prides itself on advertising the latest products and services, a company has to stand out from the competition. This is true whether a person is actively seeking out a business or not.
Because of this, businesses invest a lot of time and effort into perfecting their brand images. After all, a company’s brand allows people to identify a business, product, or service and impacts things like customer loyalty, consumer awareness, and even sales.
If you own your own business, whether online or off, it’s time you start paying attention to the brand you’ve developed for your company. And you can start by exploring the branding statistics every business owner should know.
So, let’s dive in!
General branding statistics
When people look to buy from their favorite brands, or even new businesses they’ve never purchased from before, they have to trust the company before handing over their hard earned cash. In fact, according to the 2019 Edelman Trust Barometer Special Report, 81% of consumers across the globe said they need to be able to trust the brand they buy from.
Makes sense right? Of course it does. No one wants to buy from a shady company they’re wary of.
Here are some more branding statistics that every business owner should know from the report:
Mistrust Is Rising: 69% of people fear that more brands than ever are spreading fake news or misinformation. Only 1 in 3 people say they trust most of the brands they buy or use. And 56% of people say that too many brands use societal issues as a marketing ploy to land more sales.
There Are Specific Deciding Factors: People are willing to trust a brand if they do the right thing. In addition, they want quality, convenience, value, good reviews, customers put before profits, and much more.
Most (74%) Avoid Advertising: When it comes to advertising, most people avoid it. Using ad blocking technology, changing media habits, purposely avoiding ads, and even paying for streaming services are all ways people avoid even their favorite brands’ ads.
Of course, there’s a lot more to be said about branding. For example:
- It typically takes 5-7 brand interactions before a consumer remembers the brand
- 48% of people claim that the first interaction or purchase is the best time to earn their loyalty
- It takes a mere 0.05 seconds for someone to form an opinion about your website (and your brand)
- 73% of customers love a brand because of their excellent customer service
- Trustworthiness, creativity, and authenticity are the most important brand attributes according to consumers
That said, sometimes looking a little deeper into a brand’s elements, and what customers expect, is the key to becoming better.
Logo and color branding statistics
Logos are the visual part of a company’s brand and can make or break someone’s first impression. A logo also has the potential to cause people to either remember your company, product, or service, or forget all about it. And it just so happens that all the best logos have color in them – even if just black and white.
According to the LogoFactory, the top three colors used by companies include:
Adding to that, researchers found that up to 90% of the time, our initial gut-reaction to products is based on color alone. This just goes to show the importance of color when it comes to logo creation and branding.
In a survey conducted by Reboot Online, it was found that if you use a signature color scheme in your brand, across multiple platforms, you can increase a consumer’s recognition of your brand by up to 80%. More than that, they offer the following color meanings:
- Yellow: The color of happiness, inspires original thought, sides with logic over creativity, and helps brands stand out amongst the competition.
- Red: The color of passion or danger, causes excitement, is used by fast food or retail brands.
- Blue: The color of serenity and dependability, is a favorite among top brands, is often associated with corporate brands.
- Pink: The color of playfulness or romance, is used mostly for products or services associated with women, can be considered energetic, is also used for younger audiences.
- Green: The color of nature, great for organic or down to earth brands, helps promote health and wellness.
Still not sure investing in a professionally designed logo is a good choice? Check out these logo statistics brought to you by Mirco Creatives and decide for yourself:
- 67% of small businesses will pay $500 for a logo, while 18% will pay up to $1000
- 60.8% of marketers think that visuals are an important part of marketing, and thus branding
- People will retain 65% of the information they learn three days after seeing it when paired with an image
- Blog posts will get 2x more social media shares than posts with fewer images
Social media branding statistics
Social media has given a huge helping hand to brands across the globe. Whether a small mom and pop business or a large corporation, social media networks like Facebook, Instagram, and even Twitter have given companies additional ways to promote their products and services and establish strong brand recognition amongst a wider audience base.
Not to mention, social media makes data tracking a cinch. You can track who your customers are, deliver targeted ads to those you know are interested in your brand, and even monitor the top referring sites that send traffic your way.
Because of this, and the statistics we’re about to share, it’s crucial you work hard to build a strong social media presence that advertises your brand front and center.
In ‘The Value of a Twitter Following,’ it was discovered that:
- 47% of people who follow brands on social media are more likely to visit that company’s website
- 74% of people who follow SMBs follow to get updates on future products
- 85% of Twitter users feel connected to an SMB after following them
According to a survey conducted by BuzzStream and Fractl, 50% of people follow 1 to 4 brands on social media. In addition, 26% follow 5 to 9 brands, 22% follow 10 or more brands, and 3% follow zero brands. On top of that, here are the main reasons people follow brands on social media:
- They like the brand
- To be notified about special offers/promotions
- To learn about new products and services
- For freebies
- For updated brand news
- Because they are a current customer
- Because of the interesting content
- For access to exclusive content
- To participate in competitions
- To give brand feedback
That said, there are also some distinct reasons consumers cite for unfollowing a brand on social media:
Remember, just because you have a strong social media presence doesn’t mean you generate a lot of sales. People have to really know and trust your brand before they’re willing to become loyal customers of yours. And with 2.1 million negative social mentions about brands each day in the United States alone, you have to pay special attention to what your brand says about your company if you want to succeed.
Content branding statistics
In this day and age, people not only expect but demand that brands connect with their audiences. In fact, a Stackla Survey states that 86% of consumers claim that authenticity is one of the key factors they consider when deciding which brands they like and support.
But the problem lies in the disconnect. While 91% of marketers believe that most or all of their content resonates with people as authentic, yet 51% of consumers state that less than half of brands they come into contact with create content that resonates as authentic.
More interesting statistics from the Stackla Survey include:
- 83% of marketers agree that authenticity is important to their brands
- 79% of people state that user-generated content highly impacts their purchasing decisions
- 13% of people feel that brand generated content is impactful
- 67% of consumers say it’s important for brands to provide them with personalized experiences
While marketers feels the pressure to create higher quality content for their target audiences, they claim that these challenges are holding them back:
- 60% say measuring content efficacy is the hardest challenge they face
- 57% have trouble managing content
- 50% claim that they have a hard time producing or sourcing content
Despite the challenges, marketers want to invest more time and money into creating content that suits their brand. After all, consistent brand presentation has the potential to boost revenue by as much as 23%.
Marketers just have to make sure it fits what their consumers want, or it won’t work. For example, 64% of consumers make a purchase after watching a branded piece of video content. On the flip side, 56% of online consumers believe that most of the branded content they see is irrelevant.
Employer branding statistics
When it comes to running a business, there’s a lot more to branding than just attracting customers and generating sales. In fact, how you brand your business plays a large role in who wants to work for your growing team:
- 59% of employers see employer branding as the key to their overall HR strategy
- 50% of potential candidates won’t work for a company that has a negative brand
- Only 1 in 5 candidates will apply to a 1-star company, despite 31% of employers believing review sites give unfair portrayals of their companies
- 64% of your customers will stop purchasing from you if they hear about your poor treatment of employees
- The top 3 places to expand your employer brand include your company website (69%), online professional networks (61%), and social media (47%)
It’s safe to say that you don’t find the talent when it comes to the hiring process. In fact, the talent finds you. And trust us, if the talent seeking employment from you is worth anything, they’ve done their research about your company.
According to LinkedIn:
A Strong Brand Saves Money: Companies with a strong employer brand see a 43% drop in hiring costs when compared to their weaker counterparts. By taking the time to establish a strong brand, the less you’ll have to spend on creating awareness about your company for potential employees.
Candidates That ‘Know’ You Want To Learn More: The more well known your brand is in general, the more people are going to know about your company before landing an interview. If the perception is positive, more people are going to show interest in working for you. Plus, you’ll find a 31% higher InMail acceptance rate.
Your Talent Pool Will Be Larger: A strong employer brand will lead to 2.5x more applicants, meaning you can be picky about who you add to the team.
In the end, brands should work to impress not only potential and existing customers, but also potential employee candidates.
And there you have it! Branding statistics every business owner should know if you want to push ahead of the competition, generate more sales, and establish long-lasting relationships with existing customers.
Branding is a buzzword that marketers often throw around and business owners often feel they understand. But branding is more than just how people see your company on the outside. When you dive deep into what your company branding really looks like, you’ll find that there are many layers that need attention if you’re going to grow your business and succeed.