If customers are able to recognize a brand under multiple different conditions, then that company has a high level of brand awareness. This is a good thing because brand awareness is the first step to acquiring new customers.
If a customer is familiar with a brand, they are more likely to purchase it when compared to a brand they’ve never heard of before. In fact, according to the Global Banking and Finance Review, 71% of consumers said it was important that they recognize a brand before they make a purchase.
Luckily, there are several ways for you to increase brand awareness. They include:
- Partnering with other brands
- Taking advantage of influencer marketing
- Utilizing SEO
- Being a guest on a relevant podcast
- Creating content that focuses on your target audience
By increasing your brand awareness, you gain the potential of reaching new customers while also reinforcing brand loyalty in your current ones.