Within the business and entrepreneurial world, building a businesses brand awareness comes up a lot in discussions, and there has even been a wide variety of books written on the topic.
But what exactly does brand awareness mean? The dictionary term states “the extent to which consumers are familiar with the distinctive qualities or image of a particular brand of goods or services.”
With that being said, building brand awareness for your business is important because it:
- Builds your reputation
- Differentiates your brand from competitors
- Creates customer loyalty
- Builds consistency in your industry
- Drives consumers buying decisions
According to Sprout Social, 80% of marketers said increasing brand awareness is their top priority.
The foundation of any good business is their brand awareness; its their image, their personality, the first thought that comes to a consumer mind when they think of your business.
Take a moment to think of pizza, a gym and a hotel. Im 99.999999% positive you didn’t think of a slice of pizza on your table, your favorite pizza restaurant came to mind.
What about the gym? did you think of yourself working out in a random gym or the specific gym you or a friend belongs to?
When thinking of a hotel what came to mind? maybe the MGM in Las Vegas? The Hilton perhaps?
The point I’m making here is a specific brand came to mind when you thought of each example, and this is why building brand awareness is so important for a businesses success.
Lets go more in depth and see the importance of building brand awareness…
Brand Awareness Builds Your Reputation
Not only in business but in general, your reputation means everything. Building your brand awareness the right way can positively build your reputation.
What reputation would you like for your business? the funny, laid back type? the serious straight down to business brand? the most charitable?