By looking at the top branding statistics for 2021, it’s safe to say that authentic, consistent and value-orientated brands will continue to dominate their industries and capture the loyalty of modern-day consumers.
But, while marketers continue to strive for improved brand awareness, what are some of the key aspects for them to focus on when it comes to creating a brand people know and love? Let’s take a look at the top 11 branding statistics…
According to Venngage, 89% of marketers ranked improving brand awareness as their top goal for 2020.
What’s the difference between brand recognition and brand awareness?
Well, brand recognition is the ability to identify a brand based on certain visual queues, such as its logo and colours. For instance, spotting that green circular mermaid while you’re haring down the M54 can only mean one thing: Starbucks. We’ll bet that you never realised the Starbucks logo was an image of a siren from a 16th century Nordic woodcut either! But it doesn’t really matter – because it’s recognisable. And it’s synonymous with your much-needed coffee break. (Other coffee houses are available.)
Brand awareness, on the other hand, is far more sentimental. As well as being aware of the brand’s visual identity, the customer will also be aware of the business’s products and services, perhaps their most recent advertising campaigns, what they stand for and – most importantly – how the company makes them feel.
It’s not surprising, then, that 89% of marketers continue to rank improving brand awareness as their top goal. Brand awareness elicits feelings and emotions in their consumer that go far beyond a pretty colour palette.
91% of consumers would rather buy from an authentic brand.
Ah, ‘authentic’. Everyone’s favourite buzzword in the boardroom. But, what does it really mean for your brand to be authentic?
According to Geoff Beattie, Cohn Global Practice Leader of Corporate Affairs, when people think of authentic companies, they think of: ‘A brand that has values and morals and stands by them no matter what while honestly divulging its practices (flaws and all). In fact, the thing people most wanted was open and honest communications about products and services. And that finding was consistent around the world.’
Over three quarters (77%) of consumers buy into the brands that share the same values as they do.
Leading on from authenticity, customer loyalty in 2021 and beyond will continue to favour those companies who are absolutely implicit about their brand values. Only by doing so, can they attract audience groups with a shared mentality.
The Information Age has no place to hide and brands without a strong belief in who they are and what they stand for will quickly get found out – and forgotten about. But, by developing your brand’s purpose and communicating that effectively with your audience, will help to create more meaningful connections with your customers.
If you’re struggling to compile your brand strategy, our free Brand Strategy Made Simple ebook can help.
Brand recognition increases by up to 80% when using a signature colour.
As we mentioned earlier, brand recognition can (and does) come down to the choice of colours that you choose to use for your visual identity. So, it’s crucial you – or your design agency – spends time creating a brand colour palette that is a meaningful representation of your company, is consistently applied and stands out from your competitors.
Consistent brand presentation can increase revenue by 33%.
When it comes to user experience, consistency is king. In fact, 60% of millennials expect a consistent brand across all channels.
A diluted brand experience will almost certainly come down to a part of your UX that lets your branding efforts down. That could be anything from a conflicting typeface to a clash in tone, jarring imagery or poor customer service.
Think of it this way.
Your brand is unashamedly playful. It’s what you’ve built your brand strategy on. Your website content is quirky, your illustrations are adorable and your colour palette is good enough to eat. But then, your customer receives their order confirmation email:
“Dear x. With reference to your purchase undertaken with us dated x/x/xx and as per the delivery information stated on our website, you can expect to receive your goods in around 3-5 working days. Please contact us if you have any queries. Yours faithfully, Playable.”
This would be a prime example where your customer would stop and think: wait, what?! There’s a pretty good chance that in that moment, the love your customer had for your brand has been deflated.
To ensure consistent application of your brand, invest in comprehensive brand guidelines that can be easily accessed by everyone responsible for your brand touchpoints. That’s everyone from the person who manages your social media to the people who work in your stores. Your core values, tone of voice and brand application is not something to be messed with if you’re hoping to achieve brand equity.
81% of customers buy from brands they trust.
Authenticity and consistency are key factors in creating brands that customers can trust. You wouldn’t trust a friend or colleague who says one thing, but does another. So, why would it be any different for your company?
The host of one of our favourite marketing podcasts, Neil Patel, listed some of the following factors for creating a trustworthy brand:
- Be willing to answer questions
- Show your human side (that means, don’t be afraid to have a personality!)
- Tell stories (the genuine kind about the reasons for setting up the company, the people behind it and the things that motivate you)
- Display company culture
- Define your brand attributes
- Own up to your mistakes
- Listen to feedback
- Include testimonials (real ones, not ones with a stock image written by Dan in Marketing!)
- Deliver on your promises
Did you know that it takes between 5 to 7 impressions for consumers to remember a brand?
With a plethora of modern-day distractions, competitors vying for your customers’ attention and an audience who is increasingly skeptical (millennials are the least trusting audience group, with only 19% of those surveyed by Pew Research Center saying that most people can be trusted), every brand interaction counts.
5-7 touchpoints is a lot and each needs to be as carefully considered as the other. Remember our point on consistency, but also take the time to research and define your target audience, so you can create branding and marketing experiences that actually resonate with the people you’re trying to reach.
This is particularly important given the fact that it takes up to 7 brand interactions before your customer even remembers your business name. Brutal, right?
61% of buyers are more likely to purchase from you if you deliver unique content.
It’s a fact. Content drives sales! So, the next time you’re trying to justify having a blog on your website – pass this stat on to your boardroom: 61% of consumers have also bought something that’s recommended by blogs that they read. Furthermore, brands that blog generate 67% more leads.
In this instance, the focus is on custom content, which lends itself to existing customers rather than new ones. While it can also be used to convert new prospects, the strategy is on creating content that continues to build strong relationships with your existing customer base and, as a result, drives repeat sales.
64% of consumers want brands to be vocal about social issues.
Long gone are the days of hiding away behind corporate spiel and cautiousness. As we talked about earlier – if your beliefs aren’t clear, how will your customers know whether they can support you or not? Silence really is no longer an option.
Your audience wants to buy into brands who demonstrate clear values that they can align themselves with.
So, rather than shying away or blurring into the background, it’s time to take a stand. Not only on who you are as a brand (how you look visually, how you sound, how you operate), but why you exist and what you’re passionate about. And we don’t mean the cliché response of “excellent customer service.” As uncomfortable as it may feel, you’re going to have to dig deeper than that.
After all, 64% of consumers around the world said that they would buy from a brand or boycott it solely because of its position on a social or political issue (Edelman, 2019).
50% of candidates wouldn’t work for a company with a bad reputation.
As important as it is to protect your brand reputation with your customers – don’t overlook your employees.
Not only does your employees’ perception of your brand impact their day-to-day work, but it also determines how they communicate about your company outside of work and – if they’re unhappy – will also impact your customer service. It could even affect their motivation to stay with you long-term.
If you think about the importance of authentic, purpose-driven and trustworthy brands as shown throughout these branding statistics, it’s no wonder that – even with the potential of a pay increase – 50% of candidates wouldn’t work for a company with a bad reputation.
79% of people say that user generated content highly impacts their purchasing decisions.
As we talked about earlier, your customers will typically engage with your brand between 5-7 times before making a purchasing decision. Part of this process will highly likely include the research of user-generated content (UGC), as a whopping 79% consumers said that this was an important part of their decision making process.
As the trustworthiness of influencer content and paid “#ads” or collaborations is being met with increasing customer cynicism, UGC is continuing to grow.
User generated content includes any type of content such as images, comments, reviews, video that have been posted by users on online platforms – particularly social media. Consumers are increasingly finding ways to carry out their own research online by looking at what other consumers have experienced and shared. For instance, visual content is highly valued by customers when it comes to travel or dining experiences.
Conclusion: Top Branding Statistics for 2021
So, what do you think? Have you taken any of the top branding statistics into account when launching or repositioning your business?
Ultimately, while competitors will come and go, and your services or product offering may change over the years, it’s clear that there are certain aspects that can never be overlooked or underestimated when it comes to creating successful brands.
To be able to create meaningful content, reflect your customers’ values and create a consistent user experience across multiple touchpoints, you simply must have a brand strategy in place. Your brand strategy will not only help you to clarify your brand story, positioning and brand values, but it will also help to inform everything about your identity from the visual aesthetic to the tone of voice.
If you’re interested in understanding more about brand strategy and how it could impact your business, get in touch.