Brand awareness is important, but we just don’t know how crucial it is. In fact, it’s safe to say
brand awareness is the foundation of everything. It’s the first step on the path to purchasing a
product or service. It even comes before preference and consideration. Without brand
awareness, you can pretty much forget about things like brand equity and brand strength, much
Research has established that consumers who are overwhelmed by the sheer amount of
commercial messaging that has become today’s norm, use mental shortcuts to make purchasing decisions.
What is a Brand?
Imprinting in consumers’ minds what your brand is and what you have to offer can
significantly increase sales, especially in areas where there are few obvious differences in
competing products. Therefore, brand awareness is a critical component of marketing efforts.
Everything your company does creates impressions, whether good or bad. Branding is the sum
of every action we take. It is defined by everything from an annual statement by the chairman to
social media postings and consumer comments. If your branding process is not strategically
focused, you may be in for catastrophic results, even if you have well-founded intentions. The
value of your brand may not show up in your financial statements, but it’s likely to be the most
valuable asset your company owns.
Your brand differentiates your company’s products from your competitors. If consumers are
unaware of your brand, they have no idea what your product or service can do for them. It’s
quite simple: brand value is the symbol of trust consumers place on your product, and building
brand awareness strengthens your brand. Consequently, building the strength of your brand
builds brand equity and for most firms, brand equity is one of the most significant values in their
Creating Brand Equity and Awareness
Equity refers to your brand value beyond your physical assets such as buildings and equipment.
The more people are aware of your brand and the stronger your reputation, the greater your
brand value and profit potential. Information that spreads out about your brand plays a critical
role in helping your company to grow its customer base and develop long-term relationships
with loyal customers.
Creating brand awareness is usually the first step in coming up with advertising objectives.
Before you can motivate potential buyers to purchase your product or create a favorable
impression, they have to know about of your brand. Creating awareness of your existence helps
drive traffic to your business and helps to improve sales.
With the evolution of the internet and digital technology, brand awareness has become
increasingly significant. Today’s consumer is more informed and equipped with digital tools to
communicate quickly about your brand, both positively and negatively. This means that
establishing a solid reputation for high-quality products and services, involving the community
and fostering integrity in your business practices are even more important to long-term success.
No one-size-fits-all tactic or strategy will get the word out to your target audience. The secret is
to know your target and directs your marketing efforts to where they are. And that requires
careful consideration, research, and flexibility.