Branding by the numbers: A compilation of Branding statistics and facts
"Branding is the process of creating a strong, positive perception of a company, its products or services in the customer's mind by combining such elements as logo, design, mission statement, and a consistent theme throughout all marketing communications." - Oberlo
However, branding doesn't just consist of a logo, design, etc. More than anything, it's an opportunity for you to tell your customers your story and how you are different. Your brand should create feelings in your customers. It builds trust and a connection with them.
As you already know, branding for businesses, including online ones, is a must. It takes time to build a brand and consider how to get your message across. Your brand strategy should help guide how you communicate with your customers and let them know your value. Your brand is what differentiates you from your competitors. The last thing you want is your brand message to be lost in "translation."
Your brand shapes your business and how people perceive it. Therefore, it's necessary to be up-to-date on the best branding practices and know what people are looking for. Let's not delay any further! We have compiled the top statistics and facts to help understand what customers are looking for and the most effective strategies.
1. Consistent branding on all platforms
You need to create a consistent brand on which your customers can rely. This means using the same tone of voice on all online and traditional platforms, whether through your website, customer service, social media, etc. The same applies to your logo and overall style. Having different messages coming across to customers creates doubt and confusion. Be consistent, be dependable.
2. 94% of customers are likely to show loyalty to a brand that offers complete transparency
A consumer behavior study that included 2,000 respondents suggests that people are significantly more loyal to brands that are transparent about different aspects of their business. Label Insight's brand loyalty statistics inform that when it comes to food and personal care products, consumers value companies that are honest about their ingredients. Simply put, be honest with your customers. They will appreciate you for it, and you'll get their loyalty in return.
3. Top three colors used by companies
Logos are a powerful visual tool that influences potential customers' first impressions. And color comes into play in how people perceive things. According to the LogoFactory, the top three colors companies use include blue, gray, and grayscale.
Also, researchers found that up to 90% of the time, our initial gut reaction to products is based only on color. This is how important color is in the process of logo creation and branding.
4. Advantage of using a signature color scheme
In a survey conducted by Reboot Online, it was found that if you use a signature color scheme in your brand across multiple platforms, you can increase a consumer's recognition of your brand by up to 80%.
They also offer the following color meanings:
- Yellow: The color of happiness inspires original thought, sides with logic over creativity, and helps brands stand out amongst the competition.
- Red: The color of passion or danger causes excitement and is used by fast food or retail brands.
- Blue: The color of serenity and dependability is a favorite among top brands and is often associated with corporate brands.
- Pink: The color of playfulness or romance, is used mainly for products or services associated with women, can be considered energetic, and is also used for younger audiences.
- Green: The color of nature, great for organic or down-to-earth brands, helps promote health and wellness.
5. Social media branding statistics
Without a doubt, social media can considerably impact your brand. Also, social media can help track who your customers are, deliver targeted ads, and monitor the top referring sites that send traffic your way. You must focus on building your social media presence, especially considering the following statistics.
In 'The Value of a Twitter Following,' it was discovered that:
- 47% of people who follow brands on social media are more likely to visit that company's website
- 74% of people who follow SMBs follow to get updates on future products
- 85% of Twitter users feel connected to an SMB after following them
Also, according to a survey conducted by BuzzStream and Fractl, the main reasons people follow brands on social media are:
- They like the brand
- To be notified about special offers/promotions
- To learn about new products and services
- For freebies
- For updated brand news
- Because they are a current customer
- Because of the interesting content
- For access to exclusive content
- To participate in competitions
- To give brand feedback
Now, another important factor to consider is the main reasons people decide to unfollow a brand on social media. Take a look here:
6. Importance of first impressions
If someone tries to convince you that first impressions aren't everything, they're kidding themselves. Especially when it applies to your brand. It takes about 50 milliseconds (0.05 seconds) for people to form an opinion about your website (8ways, 2019).
The reality is that if you don't take care of your website, you're losing customers. The way you present your business matters. People aren't going to trust a business that has an outdated-looking website. Make sure your customers have an enjoyable experience when visiting your site. They'll keep coming back for more.
7. Content branding statistics
People expect brands to connect with their audiences. A Stackla Survey reports that 86% of consumers claim authenticity is crucial when deciding which brands they like and support.
However, 91% of marketers believe that most or all of their content resonates with people as authentic, yet 51% of consumers state that less than half of brands they come into contact with create content that resonates as authentic. As you can see, there is a disconnect between the two.
Some other statistics from the Stackla Survey include:
- 83% of marketers agree that authenticity is important to their brands
- 79% of people state that user-generated content highly impacts their purchasing decisions
- 13% of people feel that brand-generated content is impactful
- 67% of consumers say it's important for brands to provide them with personalized experiences
8. User-generated content is vital for brands
According to a 2021 Stackla survey, 79 percent of people say that user-generated content highly impacts their purchasing decisions. "User-generated content includes any type of content such as images, comments, reviews, videos, and so on that have been posted by users on online platforms such as social media." - oberlo.com
Also, the same research claims that celebrities have less influence on consumer decision-making. Only ten percent of customers consider influencers' content authentic, and only nine percent say it impacts their purchasing decisions.
9. Employer branding statistics
How you present your brand also impacts the types of people that want to work for you. The people that make up your team are key to your brand's success.
Here are some interesting statistics according to LinkedIn:
- A Strong Brand Saves Money: Companies with a strong employer brand see a 43% drop in hiring costs compared to their weaker counterparts. By taking the time to establish a strong brand, the less you'll have to spend on creating awareness about your company for potential employees.
- Candidates That 'Know' You Want To Learn More: The more well-known your brand is, the more people will know about your company before landing an interview. If the perception is positive, more people will show interest in working for you. Plus, you'll find a 31% higher InMail acceptance rate.
- Your Talent Pool Will Be Larger: A strong employer brand will lead to 2.5x more applicants, meaning you can be more particular about who you add to the team.
The Power of Branding
As you can see, branding influences all aspects of your business. It is both the body and soul of your company. You need to consider how you choose to present your brand to the world. Hopefully, you will contemplate these statistics to help you push ahead of the competition and establish long-lasting relationships with customers.
"A brand is a story. It's a feeling—a perception. But most importantly, a brand is what your business shapes it to be. Your brand should stand for what your business feels." - Maryam Mohsin
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