What Does Brand Awareness Mean?
Brand awareness refers to the extent consumers can recognize a product by name. This awareness would ideally encompass positive views of the product that distinguish it from competitors. Brand awareness is useful in promoting a new product or restoring interest in an older one.
Brand awareness campaigns look to familiarize consumers with a product effectively differentiating it from competitors. The campaigns could occur through print, in-store advertising, event sponsorship, social media ads and search engine ads. The brand effectively embeds itself in consumer purchase habits and lifestyles.
Products with high brand awareness are typically described as trendy, popular, buzzing etc They are more likely to generate higher sales. It comes down to the basic psychology of the average consumer. When presented with a choice, consumers are more likely to buy the familiar product over an unknown one.
You can see this logic in action everyday when you look at fast-moving consumer goods. Many drinks, soaps, detergents, lotions, shaving creams are hardly distinguishable when removed from their packaging and devoid of branding. It’s the products that have invested in marketing and advertising campaigns over the years that see greater sales thanks to the high brand awareness.
- Fosters an emotional connection, builds trust and cultivates loyalty.
- Associates an action to a particular brand. For example, people refer to ‘googling’ something when they want to search for an answer on the Internet.
- Creates brand equity which drives higher perceived value, higher prices and larger social impact.
To establish brand awareness:
- Make your business relatable and not impersonal.
- Interact with customers and prospects.
- Create a catchy, memorable narrative around your brand.
- Make your marketing content shareable.