Updated: 4 days ago
Author: Ilona Milostnaja
Date of publication: 12/07/2023
Brand awareness is the level of awareness of the target audience about the company. In particular, it’s the ability to remember and recognise the brand in different situations. So, the degree shows how effectively the marketing strategies and other activities of the organization are working.
Branding is important for new companies and for those who have long taken their place in a niche. Potential buyers have an increased ability to remember the brand name, competitiveness and sales increase. However, brand products are chosen more often than lesser-known counterparts. In a simple sense, the brand name is almost equivalent to the product.
Brand awareness affects the loyalty and trust of customers, because when buying, the audience focuses not only on the quality of products. Also, on the reputation, image, and corporate identity of the company.
The audience remembers the brand:
when mentioning a particular category of goods;
at the sight of packaging, logo or other distinctive attributes;
when listing companies representing certain products on the market.
Brand awareness is a company asset. It is worth investing in advertising, design, and quality of service. As well as, developing product specifications and a story that forms an image in the minds of buyers.
How to measure brand awareness?
Company awareness is a metric that is important to monitor. It is not enough to develop a corporate identity, packaging and logo. When promoting a brand, it is necessary to analyze metrics, evaluate the effectiveness of advertising and marketing campaigns. Also, optimize the organization's growth and development strategy.
Follow the reviews on the site, in social networks and other resources. Ask buyers to share their opinions and impressions of the purchase. Track traffic, funnels, and sales channels to find and work on weak spots.
Analyze the results of advertising campaigns. Make sure that the developed marketing strategies work in a plus.
Track customer acquisition cost (CAC), click-through rate (CTR), and lifetime value of a customer (LTV).
On social networks, keep track of the reach of the audience and how often the company is mentioned. Connect with your audience, share feedback, and build long-term relationships with your customers.
Ways to increase brand awareness
Before you start working with brand awareness, you need to determine the target audience and the ultimate goals of the marketing strategy. Study consumers and how they interact with the product, and then choose ways to permanently influence. Actually, there are a large number of promotion strategies, including: content creation, SEO, targeted and contextual advertising, etc. Most popular:
Direct marketing - work with the audience through email, SMS, push notifications and instant messengers. Inform customers about current promotions, offers, new products and services.
Contests and sweepstakes - hold events online or offline, social networks and points of sale are suitable for this.
Loyalty programs - give gifts and bonuses to regular customers. Share emotions that will be remembered more than any purchase.
Influencers - Involve bloggers, celebrities and experts. Influence the audience through people who are interested in consumers.
ATL communications - publish company news in the media, use radio, television and outdoor advertising to be always in sight.
Gamification and Interactive Content – Drive conversions through engagement and communication with your audience. Also, you can involve customers not only in the purchase, but also in the legend of your brand.
What’s more, you can choose affordable methods to increase brand awareness that will resonate with the target audience of the company.Fo example, you can warm up the interest of customers by increasing competitiveness, the level of trust, the quantity and quality of sales.