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Understanding the latest branding statistics is essential for any business aiming to build a strong, recognisable brand presence. There are things you need to consider before hiring a branding agency. From the impact of brand consistency to the influence of customer engagement, these statistics shed light on the key factors driving successful branding strategies in today's competitive landscape. Whether it's the significance of personalised customer experiences or the growing role of automation in branding, staying informed about these trends can help businesses shape their branding efforts for optimal impact and customer retention.
When deciding on brand colours, think about how you want your brand to be perceived. It's evident that careful consideration is key, as a signature colour can boost brand recognition by a significant 80%.
If we look at McDonald’s as an example. What springs to mind? I bet you can instantly visualise the brand colours when reading this. Its brand colours have been highly effective in creating strong brand recognition and recall. The deliberate choice of colour has solidified McDonald’s as a global brand icon, recognisable across many cultures and languages. You can spot a McDonalds from miles away. This is why brand colours can make or break your brand. Would McDonald’s be the same if they switched up their colours? Probably not.
Going a step further, research found that 81% of consumers are more likely to recall a brand by its colour than its name. If that doesn’t highlight the importance of brand colour, We don’t know what will.
This means that in order to stay ahead of your competition, you need to be consistent with repetitive exposure to your brand’s messaging. This could be through advertising, content marketing, or other promotional activities. It’s crucial for enhancing brand recognition and recall. You will solidify your brand identity and values in the consumer’s mind. Be sure to deliver consistent and compelling messages across various channels to achieve the desired level of awareness and recognition.
This is becoming a popular strategy for increasing brand recognition, with 34% of marketers utilising this as a strategy in 2022. This underscores the significance of leveraging influential figures to promote brand recognition and reach a wider audience.
Do you remember when Lizzo partnered with the brand Dove for the Self-Esteem project? This was so successful because not only was there a brand match-up, but the partnership spoke to consumer values. According to data from the Dove Self-Esteem Project, 75% of young people in the UK say that social media makes them want to change or distort their appearance. This campaign had an emotional appeal and having Lizzo as a brand ambassador was extremely effective for branding.
In 2022, a study showed that 74% of marketers globally used AI for customer segmentation and audience modelling, showcasing the increasing role of AI in refining marketing strategies. Additionally, a staggering 99% of marketers acknowledged the potential of automation in enhancing brand management. As automation continues to revolutionise the field, a study showed that 94% of marketers emphasise the positive impact of personalised marketing on brand development.
It doesn’t stop there. 7 in 10 consumers indicated a willingness to interact with brands through chatbots, highlighting the significance of AI-driven customer engagement strategies.
Sometimes it really is that simple. But brands struggle to actually act on this experience. Keep in mind what service experience you are creating for your consumers.
Personalised ads are preferred by 48% of customers which shows the power of ensuring those individual preferences and needs are met effectively. You will find that this is good for creating meaningful and lasting connections with customers.
So you might tick all the boxes, but is your brand authentic? Does it have a unique value that outshines all competitors? If your answer is no, then you need to take action. 88% of consumers are more likely to like and support a brand that is authentic.
In a study, 68% of businesses acknowledge the importance of brand consistency and its contribution to revenue growth of 10% or more. 32% of respondents reported that maintaining consistent messaging led to revenue increases surpassing 20%.
Despite the presence of brand guidelines in 85% of companies, only 30% actually enforce them, which means 77% of brands are producing off-brand content that can impede brand recognition and customer connection.
There is a major demand for brands to maintain a cohesive brand identity and messaging strategy to drive revenue growth and customer confidence.
A priority for your brand should be brand trust. It can influence the purchasing decisions of consumers by 46%. A similar study found that 60% of consumers considered trustworthiness and transparency to be the most important brand traits. Sometimes, it can be difficult for people to put trust in your brand online.
A post-COVID study revealed that 74% of consumers found brand transparency and honest communication were more important for creating a trusted customer relationship as a result of the pandemic.
It makes sense really. There are so many options available to consumers in the eCommerce world, which means you have to work to win them over. If they don’t trust, they won’t buy. One study found that 39% out of 94% of customers would be willing to switch brands in their quest for transparent practices, underscoring the critical role of honesty in fostering brand loyalty.
That’s insane really, isn’t it? This is why first impressions matter. You can’t underestimate the importance of branding across your web design. Since 55% of brand first impressions are based on a visual perspective of your brand, you need to think about the needs of your consumers.
Is your site easy to navigate?
Does it look cool?
Would you want to engage with this website?
If you answered no to any of these, you need to take action.
What do your brand values look like? A study found that 77% of consumers purchase from brands that share the same values as they do. When your values match what your customers believe in, they're more likely to trust and buy from you. You need to consider brand activism as an important strategy for your brand.
In order to drive brand relationships, you need to highlight these brand values as they are key drivers in 64% of brand relationships. Get those values aligned to foster strong connections and loyalty with your customers.
UGC, or user-generated content, has a big impact on what people buy. A study revealed that 79% of consumers were influenced by UGC in purchase. While only 12% of people found brand content effective, and 9% found influencer content influential to purchasing decisions.
It's all about trust - when you see real people talking about a product, you're more likely to believe them. It’s more authentic.
You want to grow your community and build consumer trust but don’t know how? Consider creating an online brand community (OBC) for your business to stand out and stay competitive. It's a great way to build strong customer relationships. A recent study showed the capabilities of businesses to effectively build relationships, with 64.3% of women and younger consumers being responsive to online communities. This shows the importance of creating personal connections and community engagement. Consider online communities to foster trust.
Brand image and values matter for business growth. Many consumers expect brands to have a stance on social or political matters. In a study, 64% of consumers indicated that a brand's position on such issues would impact their purchasing decision, either encouraging them to support the brand or prompting a boycott. You’ll also find that consumers are 32% more inclined to buy from a brand with social advocacy over one with a personal benefit.
An example we can think of here is SeaWorld. This brand faced a widespread boycott and public backlash following the release of the documentary film “Blackfish” in 2013. The documentary highlighted the treatment of orcas, including Tilikum, an orca involved in the deaths of several individuals, including a SeaWorld trainer. Blackfish" shed light on the conditions and practices at SeaWorld parks, leading to increased scrutiny and criticism from animal rights activists, conservationists, and the general public.
As a result, numerous protests and social media campaigns called for the boycott of SeaWorld, leading to a decline in attendance and revenue for the company. The boycott brought attention to the ethical considerations surrounding the captivity of marine animals and contributed to a shift in public perception of marine theme parks.
Keep this in mind when considering the impact of brand values on consumer behaviour. A brand's public image and values are crucial in today's socially conscious climate. It's evident that consumer sentiment can influence the success or downfall of a brand.
One loyal customer not only generates consistent revenue but also acts as a brand advocate, contributing to increased referrals and positive word-of-mouth marketing. Building and maintaining customer loyalty can significantly impact a company's long-term success and sustainability. It makes sense for brands to invest in their current customers since a 2% increase in customer retention can lower costs by 10%.
By leveraging social media platforms in the right way, businesses can tap into a wide and engaged audience, driving conversions and fostering customer loyalty.
A survey shows that 80% of respondents predict that in 2023 consumers will buy products from brands directly in social media apps more often than from a brand's website/third-party websites.
Not everyone can hire or start their own branding agency. Hopefully, these key branding statistics have been a great branding source for inspiration and have shed light on the critical aspects of branding that you might want to consider when shaping your strategies. If you think you need more guidance, there are many branding agencies in the UK out there for you to consider. You might be a small business or large organisation thinking why should you hire a branding agency?
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