Why We Love Brand Awareness (And You Should, Too!)
When you imagine "Nike", you imagine its Logo, its colours, its imagery, its ambassadors. Perhaps you're even thinking about reputation, or even better- values, mission & identity
This is the magic of brand awareness! So that consumers do not need to think twice about becoming a customer - time and time again - this can become part of their daily lives and purchase habits.
What Is Brand Awareness?
Brand awareness refers to the degree to which a consumer recognizes a product by its name. In order to promote a new product or revitalize a brand, creating brand awareness is crucial. A brand's awareness should include the features that distinguish it from its competitors.
Brand awareness measures how well your target audience knows and recognizes your brand. In the early stages of a business, establishing brand awareness is crucial to marketing and selling products.
In truth, brand awareness is a very vague concept. The concept of brand awareness will likely make you uncomfortable if you are a marketer or business owner who likes to measure success with neat and tidy numbers, but it is still a valuable metric despite its indeterminacy.
With Brand Awareness, one brand can become "trendy"
Why is brand awareness important?
Brand awareness leads to trust.
In today's era, before making a purchase, consumers rely on extensive research and others' opinions, brand trust becomes the core of everything. Loyal customers are the results of brand bonding with the consumer, brand awareness establishes that brand trust. A brand awareness campaign let's your brand be sincere, receive feedback, and tell your side of the story. Few gestures can contribute to the development of trust between people, this holds true for human-brand relationships as well, in marketing term they are know as "Brand Awareness Campaign".
Brand awareness creates all the hype.
In India, we ask for COLGATE & not tooth paste, BISLERI & not mineral water.
World has come to a term GOOGLE it, Let's take an UBER
You can notice easily, above capitalised words are are brands, not nouns or verbs.
That's what brand awareness is all about. In this way, we subconsciously replace common words with branded ones, associating actions and products with particular brands.
How can we forget the brands which are mentioned in English & even Punjabi songs, then we start dreaming about the product from those brand, I personally can it top - most level of branding created by years & years of investing time & money in creating Brand awareness.
Brand awareness leads to brand value.
Consumer experiences and perceptions of a brand determine the brand value and equity. Positivity and perception equal positive brand equity, and the opposite holds true for negative perceptions.
Below are a few benefits of positive brand equity:
High prices as a result of increased perceived value
Higher stock prices
Product line extensions to expand business
Impact of brand name on social impact
So how does a brand establish (and increase) brand equity? The answer is by building brand awareness and consistently promoting positive experiences with the brand.
Once a consumer has become aware of a brand, they begin to recognize it on their own, seek it out for purchases, begin to prefer it over the competitors, and develop a loyalty that inspires not only other purchases but also referrals a brand, they are no less than Brand Ambassadors. A positive brand association, cultivated through brand awareness, allows your brand to become a household name and a staple in the consumer market.
Thus, you can say brand awareness is the foundation of brand equity.