Branding Statistics and Strategies for your Business

Branding Statistics and Strategies for your Business
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Have you ever realised how you identify a product from its brand name only? Let’s take an example: Do you ask the shopkeeper for petroleum jelly or you just ask for Vaseline. The same goes for Colgate, Maggie and so many different products. This is called branding. Branding is like the face of the business, something people are familiar with and can put their trust on. ”What one sees is sold” are true words. We shall discuss some basic branding strategies for your business to grow but first let’s check out some surreal business statistics.

 Basic business statistics:

  • Around 93% of marketers use social media platforms for ads.
  • Facebook itself has around 60+ million businesses.
  • Building an audience is one of the highest priorities of around 70% of brands. 
  • Colour identification strategy increases brand recognition by 89%.
  • Consistent branding increases about 23% of business yields.
  • Helpful customer service is top priority for 73% of consumers where else 66% of consumers believe in the transparency of a brand.
  • Brands that are more active on the internet generate 67% more leads.
  • Customer creates an opinion about the brand in just about 0.05 seconds.

By now we are well aware of how important strategic branding services are. A product or business may lose all its charm if branding is not done right. It not only attracts new customers but creates loyalty between the business and the customer. Have a look over some most efficient branding strategies for 2022.

  1. User Experience- 

33% of the marketers believe customers tend to enjoy user experience-based branding making the product more familiar and trustworthy(Source: WALKER) . Hence, they tend to be more loyal regardless of other factors such as cost of the product or product innovation.

2. Digital Advertising Approach- 

Past 2 year have been very crucial for digital branding, as most of the consumers were constantly behind the screen. The spending on digital advertisement grew 12.2% in 2021 alone. (Source: Hubspot, Influencer Marketing Hub, CNBC) Which increased the revenue drastically.

3. Influencer Market-

 Social media influencers are well connected to their audience and have a great deal of exposure. 70% of marketers are creating a strong budget for influencer-based advertisements.

4. Moral Outlook- 

Consumers tend to be more connected with brands having a strong moral outlook. The brands that have a say in political or social aspects and that are supportive of it. Brands that are sensitive on special topics and tend to participate in charity. 56% of people say they watch how a brand deals with such topics.

5. Connectivity with Customers-

Customers are seen to be more comfortable with brands they feel connected with and are able to share thoughts with. A brand that values the time and thought of the customer is winning in business.

Conclusion:

Today’s economy is fast evolving. So many factors affect its efficiency. One who is well observing shall find the answer to excel. A number of factories affect your business but if you got your branding right you won half of the battle. Let your brand be transparent and true with digital markethics’s digital branding and orm services. Your brand is the story you tell about your business and your products make it worth the time of your customers.

 

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