21 brand stats to revolutionise your strategy
Brand is crucial to success.
Think of industry giants like Apple, Nike and Disney. They’re all highly profitable and loved as brands. If you want similar results, you need to develop a brand that connects with people. Doing so can guarantee their loyalty.
At RightMarket, we’ve worked with renowned brands across diverse sectors over the years. We understand the effort needed to create and sustain a successful brand, and we can testify to the immense rewards it brings.
Are you in need of some inspiration? Here are 21 brand stats that shed light on the essentials of a robust brand strategy and how it influences your performance.
- 51% of marketing budget is spent on brand awareness and engagement
According to Gartner, marketing managers spend 50% of their budget on brand awareness and engagement. This might cover social media, PR, advertising and beyond.
The expenditure on brand awareness shows it’s a big deal for experienced marketers. By focusing on engaging people, your brand is more likely to secure long-term relationships with them.
- 70% of brand marketers list building brand awareness as their top goal for social media
Given where marketers are spending their money, it’s no surprise building brand awareness is a priority. And, according to the data, social media is where they do it.
With social media’s ability to connect to huge audiences, getting your brand seen is crucial. But it’s equally important to make sure you’re representing your brand well on these platforms. That’s where consistency and authenticity will prove key.
- 77% of B2B marketing leaders say branding is critical to growth
It’s not just consumer-facing organisations that need to focus on brand. Data from the B2B Marketing Leaders Report suggests over three-quarters of B2B marketing managers see brand as a key driver of growth.
Given that brand loyalty often pushes revenue (more on that later!), they’re not wrong. By having a brand that people are aware of and engaged with, you’re more likely to attract customers that helps companies to expand.
- Employee turnover can be reduced by 28% by investing in the employer brand
It turns out it’s not just customers who are attracted to strong brands. According to LinkedIn, employees are also more likely to apply for organisations with a positive brand, and stay there.
By thinking about your employer brand, you’ll be able to attract and keep talent for your organisation. Which also makes it easier to succeed and grow!
- 29% of companies say they have no formalised brand guidelines
We’ve spent a lot of time talking about how important brand is. But despite this, nearly 30% of companies don’t have formalised brand guidelines. And only 25% say they strictly enforce theirs.
Brand guidelines are crucial because they ensure consistent representation of your brand. They also enable you to bring your values to life, which makes it easier to connect with audiences. Without them, you risk mismatched, poor customer experiences which undermine trust and recognition.
- RightMarket customers report consistency and resource as their biggest brand obstacles
When speaking to our customers about the brand challenges they face, there’s two clear winners:
- Ensuring everyone in the organisation uses brand correctly
- Giving more people the resources to create on-brand assets
Even when people know how integral brand is, there are often limitations to overcome to do it right. Those who can are more likely to experience the rewards. Which means finding a way to guarantee consistency and making sure everyone is educated and equipped for brand.
Customer behaviour and brand
- 81% of consumers need to a trust a brand to consider buying from it
There’s no denying that trust is a huge factor in purchasing decisions. 81% of people say so. It’s especially critical now, when people are more selective about how they spend than ever before.
If people don’t trust your brand, they won’t buy. So, present an authentic brand that consistently meets expectations. It’ll allow you to win their favour.
- 80% of customers “grew to love” a brand, 15% experienced “love at first sight”
Although a strong brand might dazzle some people instantly, only 15% of people say they’ve loved a brand ‘at first sight’. 80% reported growing to love a brand over time.
This once again suggests consistency is key. According to Hubspot, customers need several touchpoints before they connect with your brand. So, you need to ensure each one presents your brand well and meets expectations to grow that loving feeling.
- 77% of B2C consumers make purchases based on a brand name
It’s easy to forgo brand in favour of price or following the latest market trend. But the majority of consumers will actively purchase based on brand name.
It indicates that brand is still on of the reigning influences for customer purchases. By having a better brand, you’re more likely to attract sales. Moreover, you need to make sure that brand is trusted.
- Consumers are 81% more likely to recall a brand’s colour than remember its name
How much difference can a colour make? It turns out a lot. Customers are far more likely to remember brand colours than the name. So, the visuals of your brand is important.
It also reinforces why consistency matters. By using the same colours again and again, people will recognise your brand and build a connection with it.
- 46% of consumers will pay more for trusted brands
Not only will consumers choose to buy based on brand, they’ll also spend more on the brands they love.
If you have a strong enough brand, you may be able to charge premium prices. And people will like you enough to happily pay it.
- On average, it takes 5 to 7 impressions for consumers to remember a brand
Yet another argument for consistency here. According to research, the average customer needs 5-7 exposures to your brand until they remember it.
With so many touchpoints required, there are many occasions your brand needs to shine. Showing the same visuals and voice at each will allow you to build a favourable impression that encourages people to buy.
- Using a signature colour increases brand recognition by 80 percent
By using just one or two signature colours in your brand materials, you can increase recognition by a huge 80%.
Humans have an ability to recall colours, more so than names or other brand elements. So, using the same colours consistently is a great way to build recognition. From recognition, they’ll gain connection and trust.
- Brand consistency can increase revenue by 10-20%
Consistency isn’t just helpful for getting people to remember your brand. It can actually increase revenue by up to 20%.
So, by being consistent in your brand, you’ll see higher profit.
- Brands that are consistently presented are 3 to 4 times more likely to experience brand visibility
The first step to building a loyal customer base is getting your brand seen. And consistency can boost your visibility significantly.
If more people see your brand, you’re more likely to connect with relevant leads. Leads become loyal customers, helping you to reach your revenue goals.
- 60% of millennial consumers expect brands to be consistent across different platforms
Meeting customer expectations is key to satisfying them. In today’s world, your customers expect consistency.
Most brands will have many channels they utilise. These need to all represent your brand accurately for better, aligned customer experiences. If not, you risk disappointed customers.
- 39% of companies say they struggle with employees creating off-brand content
Despite the data showing how crucial consistency is, it’s not guaranteed. Almost 40% of companies say they struggle with employees going off-brand.
There are many reasons why this might happen. A lack of brand knowledge, inexperience or miscommunication. Nearly half of employees also believe they don’t have the tools they need to create on-brand content.
Whatever the reason is, it’s an issue organisations must solve to improve their brand experiences.
- Enforced brand guidelines make the consistent presentation of a brand twice as likely
So how do you stop off-brand occurrences? By enforcing brand guidelines can make it easier to keep everyone consistent.
If you don’t already have guidelines, create them. And make sure everyone is sticking to them – whether that’s by giving everyone a copy or using tools to help.
RightMarket and brand
Looking for a tool to strengthen your brand and ensure consistency? RightMarket uses templates that fit your brand guidelines, so anyone can create on-brand content. As a result, you get aligned customer experiences and better performance.
Here’s a few stats you should know:
- You can save an average of £48,641.76 with RightMarket
The average customer saves over £48,000 a year with RightMarket. Those savings come predominantly for reducing the time it takes to create on-brand assets. We also remove the need for external design costs.
Our Project Discovery process will uncover exactly how much you could save.
By giving everyone the resources for brand materials, you’ll also get better return on investment from your employees. Plus, no more overwhelmed marketing or design teams.
- 92% time given back to marketing team
Because RightMarket allows more people to craft on-brand content, the buck no longer stops with marketing. Gone are the days marketing would be inundated with unpredictable design requests. Instead, people have the autonomy to create their own materials.
It means that marketing get hours back. Up to 92% of them. That’s time back to focus on the things that matter, like strategy.
- 11.45 minutes on average to create a brand asset
We say that it’s quick and easy to create assets in RightMarket, but how quick do we mean? On average, it takes 11 and a half minutes per design. Depending on the design, it could be significantly faster.
It means there’s no longer the need for lengthy request processes that ruin productivity. Everyone can get on with what they need to be doing.
Master brand with RightMarket
The brand stats above tell us many things:
- It’s a big deal for marketeers – and you need to invest time and money into it to succeed
- There are massive rewards to be gained. For example: improved customer trust and recognition, translating to revenue
- Consistency is crucial to getting results
In short, brand matters. And you need to ensure you’re presenting yours right.
If you want to master your brand, you need RightMarket. Our user-friendly platform lets anyone create their own on-brand assets in minutes. It also educates them on your brand guidelines so they’re more likely to follow them. The result is a consistent experience of your customers that wins trust.