Why is Brand Awareness Important?

Introduction

Brand Development – Do you exist? A brand has a yes to answer this question; more likely, and it will generate sales leads. Brand awareness is the probability that potential buyers know a particular brand, its services, and its products. The higher the possibility, the higher the chances of a sale. With the market converting to a global shopping place, it is essential to remain in the eyes of consumers. Studies actualize that 75% of shoppers consider buying from brands of which they are aware. They seldom will try a name they are not aware of. It’s not enough to invest in brand awareness because everyone else is. 

Your brand awareness must be a central aspect of your business strategy if you’re going to achieve your business goals. Once your brand is familiar and comfortable, you can make it memorable. As a result, while deciding whether to buy from you or your competitor, they are more likely to purchase from you. Just because it is essential to increase your business does not mean you start throwing money at brand awareness.

Only a well-planned brand awareness strategy focusing on current and future target customers can achieve the desired results. A team equipped with market Intel like the one at alivea can design a brand development strategy by applying suitable awareness techniques. The following lines are going to emphasize the importance of brand awareness.

• Acquiring new customers

You are a new brand or an existing one; it is like a lifeline to add a new customer. With e-commerce in full swing, brand awareness becomes imperative to achieving sales targets. The ability of a buyer to remember your brand’s name indeed affects their buying decision. They are more likely to buy from you if you are known and have created enough awareness around your brand.

• Brand development

Developing and sustaining long-term growth is pivotal if a brand has made shoppers aware of its products and services. Brand awareness is a fundamental factor of the marketing funnel and a crucial foundation for brand development. Well-planned brand thinking helps them achieve both short and long-term objectives.

• Increased market share

Brand awareness can easily lead to increased sales and subsequent market share. Brands can easily tap appropriate target customers by using relevant online platforms, thus increasing potential sales and customer base. 

• Tapping new markets

Brands can use awareness techniques to tap new markets with the market going boundaryless. Brands can quickly achieve their brand development objectives by using social media outreach, advertising, and SEOs.

• Improved perception

Brand awareness not only lets more people know your brand but also helps change how your existing customers perceive your business. A positive perception index will eventually lead you to increase your sales and profitability.

Conclusion:

Brand awareness leads to brand development. A crafted awareness campaign will lead to positive brand thinking in potential buyers’ minds. Therefore generating higher sales and market share always leads to achieving long-term goals.

Reference:

https://blog.taboola.com/importance-of-brand-awareness/#:~:text=Brand%20awareness%20is%20important%20because,recall%20and%20recognize%20your%20business.&t