11+ Eye-Opening Branding Statistics to Check out in 2024
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The primary purpose of branding is to create an overall image a company will be identified and associated with, which will ultimately lead to gaining and keeping the loyalty of its customers.
What is brand recognition?
It’s a middle stage between brand rejection and non-recognition to brand preference and, finally, brand loyalty. Brand name recognition assumes you have actually remembered some of the attributes of the company.
Now, let’s see what the latest branding statistics have to say.
Fascinating Brand Recognition Statistics (Editor’s Picks)
- Only 26% of brands would be missed if they didn’t exist tomorrow.
- A consumer forms their first impression within 90 seconds.
- 60% of companies say they aren’t consistent in their use of branding.
- The most trusted brand in the US is UPS, while the US Government is the least trusted.
- 62% of consumers want brands that have a purpose and support a cause.
- Color improves brand recognition by 80%.
- 50% of US consumers think small brands are more authentic and trustworthy than large enterprises.
General Brand Statistics
What is the overall goal of effective corporate branding?
The goal is creating a strong brand image that goes beyond just the product.
Here’s the thing:
The lines are blurred now, and the identity of a company is just as important as the product it offers, brand identity statistics reveal. Strong branding in today’s connected world demands transparency, purpose, and dedication.
1. Customers would miss barely a quarter of brands if they stopped existing tomorrow.
(Branding Mag)
What most companies with good branding know is that the vast majority of people would be indifferent if 74% of brands stopped existing tomorrow. Only 26% of them have made such a lasting impression and possess qualities that would lead to consumers missing them.
Those are mostly the brands that carry certain values and individuality, have a purpose and identity, and engage with their customers on a personal level.
You might be wondering:
Why is branding important to consumers?
Branding is important to customers because, when done right, it creates a bond of trust and loyalty between a company and the consumer, company statistics tell us. That bond results in sales on one side and satisfaction with the product, the service, and the overall experience on the other.
2. Color improves brand recognition by 80%.
(Vision Critical, Finances Online)
According to first impression statistics, customers form an opinion and judge a product within the first 90 seconds.
And the crazy thing is:
Color statistics say anywhere between 62% and 90% of that first opinion is based on the color.
What’s more:
Brand recognition statistics show color is, without a doubt, a crucial element in brand recognition, as the use of signature brand colors improves brand recognition by a whopping 80%.
When buying a product, 93% of shoppers focus on the choice of color. And yet, only 43% of marketers use their brand colors in presentations.
It takes five to seven impressions on average for someone to develop brand recognition. Click To Tweet3. Up to 95% of companies have established branding rules and guidelines, but merely one-quarter use them consistently.
(Finances Online, Forbes, Oberlo)
Brand consistency statistics show over 60% of companies create content that doesn’t follow the brand guidelines. 71% of respondents say the confusion created by the inconsistency is one of the greatest threats to brand growth and recognition. Research has shown that consistency in presentation alone makes revenue grow by an impressive 33%.
Now:
The importance of brand consistency cannot be stressed enough. Customers and companies enter an interaction in which a company offers the promise of a product or service delivered with the same level of quality, efficiency, and attention every time. And this consistency is key to customer loyalty.
Brand consistency statistics reveal uniformity in presentation results in a brand being 3.5 times more visible than those with changing designs. Click To Tweet4. 84% of buyers put being seen as a person first, branding statistics confirm.
(Salesforce, Finances Online)
92% of marketers think personalization plays a big part in improving a brand. As the ever-stylish spy Harry Hart put it suavely in the 2014 film Kingsman: The Secret Service:
“The first thing every gentleman needs is a good suit. By which I mean, a bespoke suit. Never off the peg.”
We can’t disagree.
And the same goes for brands:
Up to 72% of executives in B2B companies think consumers want personalized solutions that take care of their specific needs. That’s why a full 80% of clients value customer experience to the same extent as products and services
5. 75% of Millennials expect a connected experience from a brand across all platforms, brand stats reveal.
(Sales Force, Finances Online)
Personalizing the experience and making it as easy and appealing in terms of customer satisfaction stands out as a new task when it comes to branding. Socially responsible, ethical, customer-focused brands are coming out on top.
But it’s not all about the emotional connection:
Statistics about branding show 54% of Baby Boomers, 66% Gen X-ers, and 75% of Millennials and Gen Z-ers want a fast connected experience across all platforms and channels.
They demand speed and context based on their previous actions. They are accustomed to instant responses and on-demand features and, on average, use up to 10 channels to interact with companies
6. The most trusted brand in the US is UPS, while the least trusted brand is the US Government.
(Harris Poll)
Top branding results in top visibility and top reputation.
With that in mind:
Let’s have a look at some of the most visible and reputable brands in the US and those that have done a poor job of it.
One of the most trusted brands in 2019, according to Harris Poll, is UPS, while Facebook is 96th out of 100.
Samsung enjoyed a huge leap forward, rising to 7th in 2019, up from 35th in branding statistics for 2018.
Sony had a similar trend, climbing up from 31st to join the top 10 brand names on the list.
The most trusted brands in the US are UPS, Wegmans, Costco, Lowes, Home Depot. and Amazon. Click To TweetThe bottom five, the brands that need help, are Wells Fargo, Sears Corporation, The Trump Organization, Phillip Morris. But the brand consistently last when it comes to trust, reputation, and culture brand rankings is the US Government.
7. Millennials don’t trust traditional advertising, and 46% think companies don’t have their interests at heart.
(Finances Online)
Over one third, 35% of employees in the US in 2018, came from the Millennials age group. And up to 84% of them said they don’t trust classic advertising and believe only 37% of companies are telling the truth about their products’ shortcomings or limitations.
In contrast, up to 85% of vendors think they are being transparent.
What’s more:
Branding statistics reveal that almost half (46%) of Millennial and Generation Z buyers think companies don’t have the best interests of their customers at heart. Additionally, 54% have more trust in brands that advocate caring about the environment.
8. The social and political face of a company is very important to Millennial and Generation Z buyers.
(Finances Online)
When it comes to ethics culture and trust, 15% of Millennial respondents stated they pay attention if the brand matches their political and ethical views.
Up to 29% will not buy from vendors that hold different political views from their own, and up to 24% have boycotted a company in the past 12 months.
And that’s not all:
One of the most important facts about branding is that social injustice is important to clients, as 25% of them are not willing to purchase goods sold by a company that has labor practices they don’t agree with. They would lose respect for a brand if the salary gap between employees and the CEO is too wide.
Brand loyalty statistics point out that as much as 56% of buyers will stop being loyal to a brand in case a political statement they don’t agree with has been made.
What’s interesting is:
Some companies have recognized this and are taking it one step further with the use of negative branding by issuing strong statements of dislike towards the things their customers dislike.
9. Consumers love brands with purpose. Up to 62% of customers want brands to take a stand.
(Finances Online)
Buyers want companies to have fair work conditions and practices, work on sustainability, and take a stand when it comes to social and cultural issues. Almost half of customers will take note and complain if they don’t approve of a brand’s statements or actions.
Brand statistics say 63% of consumers think what they say and do during an online interaction with a brand can influence decisions within the company.
Additionally, 65% think CEOs have a duty to address key social issues. Women lead in this trend, as 69% think CEOs need to speak up and make their stand known, compared to 59% of men.
For example, up to 50% of Unilever’s growth comes from its brands with a purpose. Those without one are seeing a 30% less growth than brands that are embracing social causes.
10. 50% of buyers in America think small brands are more authentic and trustworthy than large firms.
(Forbes)
Small business marketing statistics show that, when it comes to authentic branding, half of US consumers trust small businesses, while only 36% trust major corporations.
But size is not the main factor:
Authentic brands are honest about who they are. It starts with knowing your customer as well as yourself, then offering relatable and reliable experience.
11. Only 14% of customers abandon a brand because of product quality, branding statistics confirm.
(Titlemax, Finances Online)
When a customer chooses to leave one brand for another, it’s rarely due to the low quality of the products.
However, if the staff are indifferent or rude, the association with the brand will be so strong that 68% of people will take their business elsewhere.
In fact, customers report that 70% of the buying experience comes from the way they are treated. It follows that successful branding extends way beyond the logo and the statements of the CEOs
Brand stats show that up to 42% of shoppers in the US reported having abandoned a brand out of frustration. 21% never went back to using their products again.
12. Blue is used in 35% of logo designs.
(Finances Online, Public Image Design, Blog Red)
Why is it the more people see a logo, the more they like it?
Well, repetition offers a feeling of security. And knowing what to expect from a brand is one of the key things when it comes to creating trust and loyalty.
On a psychological level, the more we are exposed to an image we associate with something pleasant, the more will that impression be reinforced, graphic design statistics reveal.
Now:
Top 100 companies logos are a mix of the good, the bad, and the ugly, but almost all of them are identifiable and memorable. Up to 95% of brands use two colors in their logo, and the preferred choice of color is very clear – blue (35%), then red (30%), and green (23%).
Logo statistics show the amount of money 67% of small businesses will set aside for a logo is $500, while 18% will pay over $1000.
Marketing names people remember are short, simple, and easy to remember. They convey a message in the blink of an eye, and 72% of the most successful brand names are either completely made up or acronyms (like BMW). Only 9% of companies did not include the company name in the logo.
Why You Should Brand before Marketing
You should put branding before marketing because the brand is your imprint on people’s minds – the philosophy behind your product or service, the identity that starts within the company.
In contrast, marketing starts with your customer.
What’s more:
It’s a focused, single-minded effort, a means to an end, a tactical short term focused action. Building awareness comes first.
One of the reasons why companies create the position of brand manager is to have someone who will oversee the process of creating the authentic and effective company identity visible through products, their development, placement, and pricing.
And on that note…
The Bottom Line
Branding statistics show that once a bond is formed and constantly maintained, consumers rarely abandon a brand unless a major slip in the realm of values associated with the company happens.
Key takeaway:
It’s all about that Bond, James Bond.
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