What is Brand Awareness and Why does it Matter?

What is brand awareness and why does it matter?
Channel: Digital Marketing
Marketing and sales are important aspects, but brand awareness has an underrated role to
play in driving sales. In fact, 82% of consumers searching online favor brands that they
know.
Most marketers will highlight brand awareness as a crucial cornerstone of their digital
marketing and lead generation strategy. The concept of brand awareness, however, can
seem vague and challenging. What is brand awareness and why is it important?
What is brand awareness?
Dictionary Meaning
“Brand awareness refers to the extent to which customers are able to recall or recognise a brand.
Brand awareness is a key consideration in consumer behavior, advertising management, brand
management and strategy development”
While brand awareness generally means how familiar consumers are with your company
and its products or services, it’s essential to get more specific than this. Companies need to
consider whether brand awareness means customers have heard their name before, or that
their customers understand their specific products or services. Brand awareness is defined
by the goals of the marketing team.
For companies that don’t sell everyday items, for example, it’s not as important for their
brand to be top of mind for consumers. “Instead, I want to know that when our customer
needs us, they recognize the brand and understand the services we provide. That’s why
brand awareness can mean something different for every organization.
Why Brand Awareness Matters
It’s crucial that customers remain familiar with your company, so they consider your product
or service when they make purchase decisions. “If consumers are familiar with your
product/service, then you have a higher chance they will make a purchase from you. Even if
your brand isn’t top of mind for consumers, if they’re aware of your brand then they’ll think of
your product or service first when they’re shopping.
Brand awareness is the fuel that keeps new leads coming into your business so that
ultimately you can convert them into customers and hopefully brand ambassadors. Beyond
generating a steady stream of potential leads, brand awareness can create brand
ambassadors that spread your brand through word of mouth. In this way, brand awareness
can have a snowball effect, and your audience can grow exponentially.
In The Success Academies opinion brand awareness is the foundation for building customer
Relationships. brand awareness goes hand in hand with brand reputation — it doesn’t help if
people know who you are for the wrong reasons.” That’s why companies need to be actively
measuring and promoting a positive brand image.
When it comes to building brand awareness, therefore, companies need to
consider how they want to be perceived. This means having highly targeted branding
efforts that are consistent and coordinated throughout the customer journey.
Read more next month on how to measure and implement a strategy for brand awareness.

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