Even though your brand is one of your most valuable assets as a business, people so often get confused as to what exactly it is. I went into the basics in my recent blog, The Beginner’s Guide to Building Your Brand Foundation, and now I want to back up the importance of having a strong brand with some interesting facts and stats from around the interweb!

Reputation:

  • 94% of consumers say they’re likely to be loyal to a brand that offers complete transparency (Source: Label Insight)
  • 57% of people say unaddressed negative reviews are a good reason to “break up” with a brand (Source: Talend)
  • 80% of people cite “authenticity of content”as the main factor as to whether or not they follow a brand (Source: Slideshare)
  • 73% of customers report losing trust in a brand due to inaccurate local business listings (Source: Slideshare)
  • 1/3 of consumers have a brand in mind when they go shopping (Source: Gartner)
  • 59% of global consumers prefer to buy new products from brands familiar to them (Source: Nielsen)
  • 84% of people purchase a product because of a referral– even if they didn’t directly know the person (Source: SBI)
  • 48% of consumers said that the most critical time to gain their loyalty is when they make their first purchase or begin service (Source: Bop Design)

Social media:

  • 7 out of 10 hashtags on Instagram are branded (Source: Sprout Social)
  • 95% of online adults between the ages of 18-34 are most likely follow a brand via social networking (Source: MarketingSherpa)
  • 71% of consumers are more likely to make a purchase based on a social media referrals (Source: HubSpot)
  • 82% of people are more likely to trust a company when their senior executives are active on social media (Source: Scribd)

Digital marketing

  • 76% of US consumers interact with brands or products before arriving at the store (Source: Deloitte)
  • 4x as many customers would rather watch a video about a product than read about it. Additionally, almost 50 percent of Internet users look for videos related to a product or service before visiting a store (Source: Hubspot)
  • 90% of consumers expect their experience to be consistent across all channels and devices used to interact with brands (Source: NJIT Online)
  • 94% of respondents said they would be highly likely to recommend a brand they were emotionally engaged with (Source: Gensler Brand Engagement Study)
  • 71% of luxury brands measure influencer success through web traffic (Source: Econsultancy)

Visual Identity:

  • Color increases brand recognition by up to 80% according to a study performed by the University of Loyola (Source: Touro Law Review)
  • Consumers form a first impression of a brand’s logo within just 10 seconds, but it takes 5-7 impressions for consumers to remember the logo (Source: Action Card)
  • 45% of a brand’s image can be attributed to what it says and how it says it (Source: Bop Design)

I hope you found these stats interesting and they’ve helped you to see the importance of investing in your branding! If you are ready to take the next step on building your brand foundation, I can help! Set up a free brand clarity action plan call, and we can discuss your brand goals and how I can help support you in getting there.

[FREE DOWNLOAD] How to build an emotional connection with your brand

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Follow these 5 simple steps to build a personality-infused brand that will help attract your ideal clients and build an emotional connection

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By |2018-02-22T17:13:03+00:004:48 pm|branding, Creative, digital marketing, social media|

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