Every brand needs to build trust so that its prospects consider buying, and later on, become loyal customers. An interesting fact is that 77% of people prefer shopping from brands they follow on social media. Brands’ first impressions are visual 55% of the time.
Generally, when brands want to capture customers' attention with their logo they have about 10 seconds to do so, or else the user’s attention span will move to something else dismissing the brand entirely.
Being consistent in branding results in higher revenue and recognition in the marketplace. Infographics are a good representation of information that brands want to spread, both in the B2B and B2C markets.
In this article we will be discussing some important statistics concerning branding, brand design, small business branding and branding communication.
Branding: The Most Important Statistics
94% of customers recommend brands they connect with emotionally.
Brands’ first impressions are visual 55% of the time.
General Branding statistics
Revenue has been reported to increase by 20% when being brand consistent.
46% of consumers tend to pay more when purchasing from a trusted brand.
55% of brand first impressions are visual.
Over 50% of brand reputation comes from socializing.
Statistics On Branding Trends For 2023
According to a study by Exploding Topics, 81% of consumers need to trust a brand to consider buying.
77% of consumers prefer shopping with brands they follow on social media.
65% of consumers say a brand’s CEO and employees influence their decision to buy.
55% of brand first impressions are visual.
Another study by Exploding Topics suggests that 69% of people fear that more brands than ever are spreading fake news or misinformation.
47% of people who follow brands on social media are more likely to visit that company’s website.
The top three colors used by companies include: red, blue and grayscale.
Is Branding Design Really Important?
The US Chamber of Commerce displayed results of research that say 55% of a brand’s first impressions are visual.
That's why companies combine strategy and psychology to create stories that will create an amazing first impression.
Colors increase brand recognition by up to 80%.
That is why the most important component of a brand design is its colors.
Statistics On Branding Marketing
Marketing and Branding are siblings. Almost all marketers believe that personalized marketing affects brand-building positively. The majority of brand marketers use social media primarily to create and increase brand awareness.
Influenced by brands, 64% of consumers tagged brand hashtags on social media which helps brand awareness.
Brand consistency gives 10-20% more revenue which encourages brands to expand their brand budgets.
Brands need to promote positive experiences and marketing helps them do it by creating strategies that mostly gather around creating and distributing personalizing and problem solutions (valuable) content.
Over 50% of brand reputation comes from socializing, so social media marketing plays a big role in brand awareness.
Brands need to market themselves in a way that the market audience either feels compatible with its soul or wants to be a part of that brand family because it's that popular and inspiring.
If you are a business owner or looking to start your own, these statistics may help you reconsider aspects concerning your branding strategy.
Importance of Small Business Branding
About 85% of companies have brand guidelines and being brand consistent can give a revenue increase of up to 20%.
Being a trusted brand is a whole life-cycle task because 46% of consumers will pay more for trusted brands.
Trusted brands that make a social impact will get even more attraction. Being personalized, consistent, transparent, content valuable, and being there at all times with help of marketing automation, helps the brand to be at the top as long as possible.
Brand identity is not just a logo or design, that's the culmination of how the brand looks, feels, and speaks to consumers. For small businesses, it is very important to create a unique brand persona, because it is very hard to stand out. Small business brands need to constantly interact with audiences, create valuable content and customer experience, hire influencers to promote them, and much more. Small businesses need to have a brand because that is a critical driver of all communication.
What Impact does Branding Communication Have on Companies?
Nearly 6% of Instagram users in Chile who were surveyed in 2022 stated Nike was the first company that came to mind when they thought of that social media network.
Adidas and Coca-Cola came in second and third, with 4.3 and 3.8%. In Chile, the age range for Instagram users in 2022 was over one-third, between 25 and 34.
10% of TikTok users polled in Chile in 2022 stated that when thinking about that social media site, Nike was the first brand that came to mind.
Coca-Cola and Adidas came in second and third, with 7.8% and 7.3%.
In 2023, it is predicted that TikTok would be utilized by more than 6.6 million individuals in Chile.
Statistics On Branding Partnerships
A study by Finances Online provides current marketers with relevant branding information and figures. This encompasses the pre-pandemic state of the branding business and practice. It examines the current situation, best practices, and the direction that brand marketing is currently headed. This covers universal truths and branding concepts.
54% of companies state that brand partnerships drive over 20% of their total revenue.
68% of consumers make buying decisions after viewing partnership campaigns.
74% of organizations reveal that brand partnerships and affiliate marketing are the top-most priorities.
Conclusion
Love it or hate it, but branding should always be one of the key factors to consider when setting up your business, or discussing business strategies. What we have seen is the almost always consumers will pay more when they are dealing with a brand that they trust. Moreover, brand consistency has been proven to drive sales higher.
It is also important to consider partnerships as they have been proven to drive up sales. In addition, A lot of consumers make their decision after seeing campaigns that come from partnerships.
References:
Exploding Topics: “33 New Branding Statistics and Trends for 2023”, cited in Februry] 2023 (Source)
Startup Bonsai: “37+ Branding Statistics For 2023: Stats, Facts & Trends”, cited in February 2023 (Source)
Finances Online: “131 Branding Statistics You Must Know: 2023 Market Share & Data Analysis”, cited in February 2023 (Source)
Word Stream: “6 Tips for Profitable Partner Marketing (With Examples)”, cited in February 2023 (Source)
Statista: “Top-of-mind brands on Instagram according to users in Chile 2022”, cited in February 2023 (Source)
Statista: “Top-of-mind brands on TikTok according to users in Chile 2022”, cited in February 2023 (Source)
Exploding Topics: “33 New Branding Statistics and Trends for 2023”, cited in February 2023 (Source)
WebFX: “50+ Branding Statistics You’ll Want to Know for 2023”, cited in February 2023 (Source)
Exploding Topics: “33 New Branding Statistics and Trends for 2023”, cited in February 2023 (Source)
99 Designs: “7 significant brand design statistics that every company should know”, cited in February 2023 (Source)
Exploding Topics: “33 New Branding Statistics and Trends for 2023”, cited in February 2023 (Source)
Hubspot: “The Ultimate Guide to Brand Awareness”, cited in February 2023 (Source)
Fit Small Business: “31 Branding Statistics Every Small Business Should Know”, cited in February 2023 (Source)
Keap: “It's time to strengthen your small business brand identity”, cited in February 2023 (Source)
