Innumerable products and services are produced in the world every day. From all that variety only a few stand out and become widely recognizable by people. What sets well-known products and services apart from unfamiliar ones is successful branding.
If you were to order a soft drink at a cafe, chances are you’d ask for a Coca-Cola. This is an example of how branded products stand out from the competition and are sought after by customers.
Branding is by no means something that only global companies do. Even small businesses can increase their chances of success by branding their products the right way. Thus, if you had so far neglected this opportunity, it’s time to give it a second thought.
To help you in this rewarding venture, we put together a fresh list of branding statistics. Feel free to dive into the infographic below and start building your branding strategy for 2023.
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Why is Branding Important?
- 77% of B2B marketers say building a strong brand is key to their company’s growth.
- ⅓ of customers have a brand in mind when they go shopping.
- 59% of customers prefer to buy products from familiar brands.
- 82% of investors want the companies they invest in to have a strong brand.
- 77% of customers refer to certain products by a brand name.
- 75% of companies say building brand awareness is one of their top priorities.
- Logo is the #1 most recognizable brand identifier, followed by visual style.
- 75% of people recognize a brand by its logo, 60% by its visual style, 45% by the brand’s signature color, and 25% by its unique voice.
- 70% of brand managers find audience building more important than converting sales.
- 60% of millennial consumers expect brands to be consistent across different platforms.
- Consistent brand presentation can increase revenue by as much as 23%.
- 54% of businesses say that brand consistency substantially contributes to the growth of a business.
- 95% of companies have some form of brand guidelines.
- Only 25% of companies have formal brand guidelines and actively enforce them.
- Less than 10% of brands maintain a high level of brand consistency across all products and marketing channels.
- Enforced brand guidelines make the consistent presentation of a brand twice as likely.
- 71% of businesses agree that inconsistent brand presentation leads to customer confusion.
- 93% of people say the first purchase usually decides if they will continue their relationship with a brand.
- 82% of people are very likely to buy from brands they already have experience with.
- 74% of people grow loyal to a brand after regularly interacting with their online content.
- Quality, cost, experience, and consistency are the four main drivers of brand loyalty.
- 80% of customers “grew to love” a brand, 15% experienced “love at first sight”.
- Decrease in quality and poor customer service are the top two reasons people switch brands.
- The following factors break customers’ loyalty to brands: decrease in product or service quality (76%), bad customer service (73%), irresponsible practices (45%), annoying online content (41%), lack of innovation (32%).
- 33% of Americans will stop buying from a brand after a single instance of poor customer service.
- 89% of shoppers stay loyal to brands sharing their values.
- 94% of customers are likely to be loyal to the brands that offer transparency.
- 75% of people check out a brand by visiting its website.
- 92% of people consider well-designed websites to be more trustworthy.
- 94% of people are likely to stay longer on websites with attractive web design.
- 65% of people quit websites that don’t have a mobile-friendly layout.
- 38% of users will quit websites with unattractive layouts.
- 96% of people consider brands with high-quality online content to be more trustworthy.
- 83% of users would lose trust in a brand after finding out its content is written by ghostwriters.
- 53% of businesses use ready-made templates for building a website or a landing page.
- 84% of small businesses use online tools as a design solution.
- 66% of people feel that primary research makes content more credible than secondary research.
- 42% of online shoppers base their opinion of a website on its overall design.
- Consumers spend 10% more time looking at visuals of a website than reading texts.
Social Media Branding
- 77% of customers are likely to buy from a brand they follow on social media.
- 83% of users appreciate it when brands respond to questions on social media.
- 70% of people report changing their opinion about a brand after they replied to a review.
- 75% of people are more likely to follow a brand’s social media page if it features video content.
- 85% of people say video content allows them to connect with brands more effectively.
- 83% of users like it when brands post videos to social media.
- 77% of people say they follow brands that provide useful content.
- 79% of users unfollow brands that post mainly promotional content.
- 68% of millennials visit the company’s social media sites to research employer branding.
- Over 65% of people have formed an emotional connection to a brand.
- Apple, Nike, and Nintendo are the top 3 brands Americans are emotionally attached to.
- Customers who have an emotional bond with a brand are over 50% more valuable than highly satisfied customers.
- People who follow a brand on social media are 3 times more likely to form an emotional connection to it.
- 72% of people feel interest towards a brand, 57% feel trust, 41% feel admiration.
- 86% of consumers appreciate honesty and authenticity in brands.
- 64% of women and 68% of men have felt an emotional connection with a brand.
- 58% of consumers consider UGC as the most authentic form of content.
With this in mind, you can now build and implement your own branding strategy. Our all-in-one branding platform is here to help you out. Whether you need a logo and a branded website, or videos and mockups, feel free to explore our universe of templates and find something that suits your needs.
Sources: Renderforest Branding Survey 2022, SmallBizGenius, Gartner, Venngage, Crowdspring, Forbes, Demand Metric, Pardot, InMoment, SproutSocial, ConsumerThermometer, Harvard Business Review, Bulldogreporter.