Brand Awareness Stats: Key Data and Insights for Marketers in 2024

No matter the industry you are in, establishing a trustworthy brand name, building instant brand recognition, and maintaining a strong online presence requires more than just a product or a service. Strong branding ensures your business can reach the right people at the right time.

Branding is concerned with creating an outstanding identity in your target market for your company, as well as services and products in your consumers’ minds (and hearts). Branding goes beyond marketing and advertising. It combines brand reputation management, creative designing and messaging to create a strong brand visibility. Once your customers become familiar (and even fond) of your brand, they are going to prefer you over your competitors, establishing brand loyalty and advocacy that lasts a lifetime.

While the prospect of branding seems tempting and lucrative, creating a strong brand presence can be a time-consuming process. That said, consistency and putting smart efforts ensures your business becomes a favorite brand in the eyes of your customers.

Here’s why branding matters and some compelling branding statistics to know about:

Why Brand Awareness Matters for All Businesses?

Brand awareness ensures your business is at the forefront of your customers at all times, eventually becoming a name that stays at the top of their minds whenever a purchase decision has to be made.

Brand awareness is important as it fosters trust, sense of community in some cases and makes it possible for your brand to tell its story to an already engaged audience. By carefuly planning your brand building strategies, you can ensure that your business establishes brand equity with its target audience.

Benefits of Brand Awareness Businesses Can Experience:

• Customer trust in your brand is everything, and with effective brand-building strategies, your customers will make repeat purchases without much thought. It bridges the gap between customer loyalty and brand trust. 
• Awareness about your brand also increases brand equity and value, indicating the experience your customers have with your brand. 
• It helps associate particular services or products with your brand, encouraging your customers to think of your brand whenever they are looking for a product or service. As a result, your brand name becomes a substitute for your business’s offerings. 
• High brand awareness ensures that when your customers are faced with a situation where they must make a purchase, your brand becomes their priority. 
• Brand awareness also increases customer loyalty, making your brand cross their minds whenever they are faced with a situation where they have to make a purchase decision. 

Following are some compelling statistics showing the impact brand awareness has on business perception, reputation, and growth:

An Overview of General Branding Statistics

1. With the growing popularity of social media platforms, 77% of people prefer shopping online or offline from a brand they follow on social media. If your business is not on social media yet, it’s missing out on significant opportunities to generate ROI. 
2. Apple is the world’s most valuable brand, followed by Google, Microsoft, and Amazon.
3. 31% of people trust the brands they use. Due to this, there’s a higher possibility that they won’t switch to a new brand unless they are being offered better benefits, price points, and quality. 
4. In most cases, 10% to 12% of a marketing budget is spent on branding or rebranding activities. 
5. 60% of consumers have taken action (either good or bad) based on a brand’s actions. If the brand’s action has been negative, nearly 30% of consumers stopped buying from that brand.

6. Poor customer service can cause losses of $1.9 Trillion in the US. Due to this, how a brand offers customer experience holds immense value in determining the brand reputation of the business. 
7. 80% of people claim they have seen a shift in customer service since the pandemic, and the current experience for many is disappointing. 
8. However, 36% of people feel the customer service from their favorite brand hasn’t changed much. 
9. Two-thirds of customers don’t like it when a brand makes fun of its competitors and customers, uses slang, and even starts making social media posts indicating a political preference. 
10. 65% of people feel inspired to purchase from a brand by getting influenced by the CEO and their employees. A great way to achieve this is by producing social media content with your team as well as spending time developing a dedicated online presence for your CEO. 

Essential Statistics on Brand Awareness

11. At least 6 to 7 impressions are needed by a brand to create brand awareness. To ensure this happens, make sure your campaigns are captivating, engaging, and attractive.
12. A company’s reputation is greatly influenced by its CEO, and 50% of your potential customers believe this. 
13. LinkedIn is a primary social media platform for many businesses looking to establish an authoritative brand presence. A strong brand presence on platforms with high authority helps drive the interest of investors and potential talent. 
14. 77% of B2B marketers are focused on building a strong brand presence to accelerate the growth of their company. 
15. As many as 34% of brands actively leverage influencer marketing to advertise and market their brand to an already engaged audience. 
16. 89% of company HR leaders say that strong employer branding instantly gives them an edge when it comes to attracting talent. 
17. 89% of marketers noticed an increase in brand exposure by using social media—platforms like Facebook, Instagram, LinkedIn and X (formerly known as Twitter). 
18. Businesses have noticed that consistent branding across multiple marketing channels carries the potential to increase revenue by as much as 23%. 
19. 87% of consumers choose to check online reviews for local business listings. The high percentage indicates the importance of maintaining a positive reputation on review websites like Google and Yelp. 
20. 60% of car buyers consider conducting online research before they make a purchase. This indicates the impact of brand awareness in the automotive industry.  
21. 72% of people consider researching about a medical service provider and checking online reviews is a strong indicator for them to come to a decision.

Social Media Insights for Brand Awareness

22. The number of social media users is set to grow to 6 billion by the year 2027, making it crucial for businesses to focus on establishing brand awareness on these platforms. 
23. Meta generated $117 billion in revenue, indicating the potential revenue brands can generate by using the platform for their advertising and marketing campaigns. 
24. As many as 80% of global marketers actively use Instagram to advertise their products and services and build brand awareness. The core intention is to increase brand preference whenever the target audience makes a purchase decision.

25. Instagram has an extensive target pool. 31% of Instagram users are in the age group of 18 to 34 years. 31% of users in the age group are 25 to 34-year-old users. 
26. 77% of people prefer to shop from brands they follow on social media platforms. Due to this reason, it’s crucial that your social media strategy is consistent and active. 
27. Gen Z is 2x more likely to believe that brands have the power to make the world a better place. 

Key Insights on Brand Recognition Statistics

28. Color increases brand recognition by as much as 80%. That’s why most people tend to recognize brands from the colors they see. 
29. In fact, 81% of people are more likely to recollect a brand’s color instead of remembering the name of the brand. 
30. 78% of people remembered a brand’s primary colors. On the other hand, only 43% of people remembered the names of a brand.

31. To make its brand more impactful and memorable, Pepsi spent $1 million to design its logo. 
32. By using a combination of offline and online marketing strategies, a business can increase its brand recognition by 23%. 
33. 80% of marketers claim their brand’s exposure increases significantly by putting more efforts in their social media efforts. 

Understanding Brand Trust Through Statistics

34. As per reports by Edelman’s Trust Barometer, Gen Z exhibits higher need for brand trust. 79% of people say it is more important to trust a brand before they make a purchase.
35. Nearly 75% of consumers are committed to retailers that present themselves as authentic and trustworthy over brands that don’t pay enough emphasis on being authentic. 
36. 40% of consumers tend to believe a brand based on what an influencer recommends. 

37. 63% of people trust what influencers have to say about a brand more than what a brand tends to say about itself. 
38. Only 26% of Millennials tend to trust brands that use traditional advertising methods. Due to this, it is crucial that your brand focuses on spending time on creating effective online marketing campaigns. 
39. As much as 50% of people are willing to pay more for a product or service from a brand they trust.

Why Brand Consistency Matters?: Key Statistics

40. Brands can witness a 95% increase in their conversion rates by utilizing emotional brand storytelling. As these efforts are unique and can be customized based on what your business specializes in, their impact is guaranteed to be more profound. 
41. 82% of customers buy from a brand when they have high emotional connection with the brand. This is opposed to only 38% of people with a low emotional connection with a brand. 
42. Brands that are able to establish a strong emotional relationship with their customers offer 3x higher lifetime values. 

Personal Branding Statistics You Should Know

43. People are more willing to pay as much as 13.7x more for those professionals they consider to be elite experts than an average person. 
44. Brand messages get 561% more reach when the posts are shared by an employee on their personal accounts than the company’s brand account. As a result, it is important for a business to actively share their social media posts on their personal accounts as well. 

45. On average, executives worldwide contribute to 43% of a company’s market value compared to their CEO’s reputation. As a result, it’s crucial that your business aims to maintain professional social media conduct. 
46. Brand messages are re-shared as much as 24 times more frequently when an employee posts them.

Branding in Marketing: Key Statistics

47. A brand only has 7 seconds to make a first impression. Therefore, it is critical to craft an effective and compelling message that instantly strikes a chord with your target audience before they decide to move on without making a purchase from your brand. 
48. 73% of consumers say they prefer to shop from a brand solely because their customer service experience is pleasant and helpful. Therefore, it is vital that businesses focus on improving their customer service strategies. 
49. 90 seconds is the time it takes for a person to make a subconscious judgment about a product or service when exposed to a brand. Therefore, it’s important that your brand is focused on grabbing attention with colors, offers, and product branding strategies. 
50. It’s commonly seen during the holiday seasons that 44% of people give gifts to their loved ones from brands they trust and are loyal to. So, if your business is looking to boost sales, particularly during the festive season, make sure to offer generous discounts and offers. 

B2B Branding Statistics for Industry Insights

51. 74% of marketers set goals, but only 50% of them are able to achieve them either always or most of the time. 
52. Marketers usually use 18 data sources to report their data on sales or other parameters. 
53. 45% of B2B marketers expect that their content marketing budget can increase in the future. 69% of the budget is spent on video content, and thought leadership accounts for 53% of the budget. 
54. 97% of marketers are focused on using content marketing as a part of their marketing strategy. 
55. 93% of B2B businesses find LinkedIn the most effective tool when it comes to content distribution. 
56. 84% of B2B businesses are actively using advanced analytics tools to manage and control their content. 

B2C Branding Statistics You Can’t Ignore

57. 85% of B2C marketers are investing in using content marketing for their growth and to nurture their customer base.
58. 72% of B2C marketers have seen that their number of leads increased significantly when they started using content marketing to build brand awareness. 
59. Brand visibility is 3.5 times higher for brands that have consistently presented themselves online.
60. 77% of consumers purchase an item based on the product’s brand instead of knowing the product’s name. 
61. 94% of people say they are loyal to transparent brands over brands that try to hush up the truth.

Conclusion

Brand awareness is critical to ensuring your brand creates a strong online presence and can drive potential customers into making a purchase decision. That said, building a brand is no longer about creating social media content, regularly publishing content on the website, or being seen on the news. It has become more personal as the digital revolution is bridging the gap between what your customers perceive about your brand and how they can approach you. Make sure your brand is paying attention to how it is being seen online, and create a strong brand presence by utilizing trends and thoughtful marketing efforts.