34 Branding Statistics Every Small Business Should Know in 2023
A strong brand enables you to attract and retain customers, stand out from the competition, and build trust and credibility with your audience. From creating a well-defined brand identity and consistently delivering on your brand promise to creating compelling, differentiated messaging, these eye-opening branding statistics will convince you to pay attention to your brand and invest in managing your reputation.
1. Branding consistency can increase revenue by 20%
In addition to brand familiarity, customers want brand consistency, no matter where or how they interact with your business. Branding stats indicate that brand consistency can have a major impact on your company’s revenues.
The State of Brand Consistency report by Lucidpress found that consistent branding across all channels can increase revenue anywhere from 10% to 20%. Brand consistency means customers receive the same impression and experience when interacting with your brand regardless of marketing or communication channel.
Familiarity through consistent experiences generates confidence among customers because they know what to expect. Think about how fast-food chains succeed: There may be places with better food, but people go to restaurants they know because of the consistency. This branding statistic shows that with brand familiarity and consistency in service, you can compete with bigger industry players.
2. 85% of companies have brand guidelines
In the Lucidpress study, 85% of organizations reported they had brand guidelines. However, only 30% say they are enforced. As a result, 77% of brands end up with off-brand content. Inability to provide a consistent brand experience makes it harder to build brand recognition, and more challenging to connect with customers.
3. Brand love = loyalty, word of mouth, and willingness to pay more
So I guess you could say it’s getting pretty serious. Researchers studying sport-related brands (e.g., Red Bull, Nike, Adidas, and so on) found that brand love produced three significant revenue drivers: loyalty, word of mouth, and willingness to spend more. Loyalty equates to return visits and future purchases, and word of mouth produces new customers.
When consumers are willing to spend more on a brand, it gives your business more freedom to raise prices or create upgraded versions of a product. In addition, it signals to the marketplace that your business is a non-commodity, meaning your product or service can’t be replicated elsewhere.
It’s easy to understand how sports-related brands can generate brand love. After all, sports are often seen as a reflection of the inner self, and tying a brand to a team a consumer loves, by extension, brings some of the feelings along with it. The takeaway for less emotionally charged industries is that you need to find out how to connect with some aspect of your audience emotionally, from cause-related involvement to creating points of personal connection.
4. Online communities create brand trust with 64.3% of women
In studying the relationship between brand trust and online brand communities, researchers found online communities move the needle significantly in creating trust with consumers—in particular, with 64.3% of women and younger consumers (44.9% of people aged 18-22 years).
Still, many brands today don’t have online communities or forums, and some don’t even have an active social media presence for people to engage with. In addition to creating trust, developing online communities gives brands that all-so-important means of creating personal connections with customers, which in turn brings more word of mouth, loyalty, and increased brand affinity.
The good news is that in addition to getting more active in social media marketing, you can easily build your own online community with site builders like Wix. By simply signing up, customers can participate in member-only content, polls, and discussions, starting with the free site builder version.
5. 46% of consumers will pay more for trusted brands
Software as a service (SaaS) company Salsify surveyed more than 4,000 consumers for its 2022 consumer research report. When asked to identify the factors that have driven them to buy the higher-priced option when comparing similar products online, 46% of U.S. consumers admit that they pay more for a brand name they trust.
Here’s why it pays to build brand awareness: 46% of customers tend to buy from familiar brands. The more people recognize, appreciate, and believe in your brand, the more they buy from you.
6. Shared values drive 64% of brand relationships
According to the Harvard Business Review, shared values are a driving factor in more than six out of every 10 brand relationships. Your brand must resonate with the target audience’s values and convey them in a way that forms connections between your company and customers.
This branding statistic shows that every single experience and interaction counts—from the time a customer touches your brand to when they move on to other things. For instance, when it comes to technology, speed, coolness, and wow factor—that’s Apple. When you think of faith, family, great service, and tasty food—it’s Chick-fil-A.
7. Customers will pay 50% more for businesses making an impact
Price isn’t always the bottom line. Many customers are willing to pay more to companies that align with their values. Thirteen percent of customers are willing to pay anywhere from 31% to 50% more to do business with companies they view as making a positive impact in the world. This is a really important branding statistic because a lot of people assume cheaper is always more competitive, but that’s not always the case.
8. Automation is changing the face of branding
There is a new shift in acceptance in the use of automation for marketing—including branding and creatives. According to a survey by Bynder, OnBrand, and Vanson Bourne, around half of the 1,600 marketers surveyed in 2021 said that creative automation would help them meet output production goals since it can be used to create content more efficiently.
The same survey also indicates that more marketers are now recognizing the benefits of using automation for branding. Around 50% of respondents said that automation would actually improve brand consistency.
9. Social media is the top driver of consumer brand sentiment
A 2022 study measuring the effect of digital marketing on consumer behavior found that the top three drivers of consumer attitudes to be (in order):
- Social media
- Search engine advertising
- Content marketing
However, in terms of purchase intent, the study found that content marketing had the most impact, followed by social media, search ads, and email marketing. It’s interesting to note the study found that email marketing didn’t contribute significantly to either consumer attitudes or search intent.
One takeaway here is search ads are significantly contributing to brand sentiment. So, developing search and banner ads that closely align with your brand’s desired image and unique value proposition is essential. Second, content marketing becomes more important during the consumer’s consideration phase in deciding which brand to go with.
10. 69% of consumers will engage with your brand using chatbots
Technology is expanding the number of ways customers can engage with your brand, from automation to online tools. When they come to your website, if they can’t quickly find the information they need, seven out of 10 are perfectly comfortable interacting with your brand and business via online chat per the 2021 State of Social report from NetQuid.
These branding statistics clearly demonstrate that every aspect of the customer experience counts. Every touchpoint, from those within your control (like marketing materials, website, social presence—even your chatbot) to those outside of your creative process (e.g., reviews, online mentions, and so on) contribute to the perceptions that comprise your brand to the public.
Establishing brand awareness is the key to getting leads into your sales pipeline for nurturing and offering the brand consistency that produces more sales, retention, and loyalty. The branding stats in the statistic below speak specifically to brand awareness.
11. Increasing brand awareness is a top priority
Semrush asked 1,500 marketers from over 40 countries to indicate their top priorities in creating brand content from most important (1) to least important (8). In the State of Content Marketing survey, 45% of respondents ranked “increase brand awareness” as the number one priority, giving it top billing among the objectives listed.
Brand awareness is the key to driving customers to your business and fostering loyalty. Creating a recognizable brand can help you attract new customers and grow your business. It can also make your brand more memorable and differentiate it from your competitors. Start by creating a strong visual identity for your brand and then consistently apply this branding across all of your marketing materials.
12. Marketers top concerns include brand engagement & consistency
Responding to Bynder’s 2021 State of Branding survey, marketers identified their top concerns as follows:
- 26%: Engaging their audience on over-crowded digital marketing channels
- 25%: Might not be able to produce all of the creative and content requested
- 17%: Maintaining brand consistency
- 16%: Adding in-person events back into marketing strategies
- 15%: Post-pandemic messaging strategy
13. 41% of brands use influencers to increase brand awareness
MeltWater’s 2021 State of Social found that four out of 10 brands would have employed influencer marketing by the year’s end. At 32%, both business-to-business (B2B) and business-to-consumer (B2C) brands listed increasing brand awareness as their top goal for influencer marketing. For non-government organizations (NGOs), increasing brand awareness was also the top goal listed by 35% of marketers.
14. There’s more demand for brand content than ever before
An overwhelming 85% of marketers said there was more demand for brand content than before the pandemic. This is compared to 9% who reported no change and 6% who said there was less demand for their content.
More demand for content can quickly cause burnout, especially for small teams. For low-cost help producing content for your website, blog, or social media, turn to Fiverr. You’ll be able to connect with freelance professionals who can help you scale up your content marketing plan affordably, with prices as low as $10 to $25 per project.
15. Content marketing drives 3x higher brand engagement
Content marketing gets three times as many leads as advertising. It encourages brand engagement, leading to brand awareness, recognition, and recall.
Investing in quality content, and especially personalized content, connects people to your brand’s voice and builds relationships. It costs less than pay-per-click ads, and it gets customers to trust your brand by providing useful information about topics that interest your audience.
16. It takes 5-7 impressions to produce brand awareness
Customers won’t remember a brand after just seeing it a couple of times. People have to be exposed to a brand five to seven times to start recognizing it. It takes further consistent exposure over time for the brand to become familiar enough to remember it by name. This is why commercials and ads are so important. Even if people do not buy because they saw one specific commercial, they are being exposed to the brand.
17. You have 7 seconds to make a first impression
Human beings scan their environment and form instant impressions. It takes just seven seconds for customers to make an instant decision whether or not they like and trust your brand. This brand stat shows that you need to make those seven seconds count by investing in quality branding, especially visual branding, which accounts for a good deal of first impressions.
Pro tip: Based on the branding stats above, it’s important that you leverage the best sites for logo design for a logo that will help you establish a strong brand presence. For the best do-it-yourself option, try VistaCreate. If you want professional logo design at an affordable price, hire a freelance pro from Fiverr.
While branding can help make a positive first impression with a new potential customer, it also influences your brand’s connection with existing customers, as shown in the following statistics.
18. A loyal customer is worth 10 one-time customers
Brand loyalty can be worth quite a lot. In fact, a loyal customer may be your best advocate, sharing your company’s information with many friends over time. Brand loyalty yields 10 times more than the profits you make on a single purchase.
Word of mouth is the best marketing, and it usually comes from loyal customers. This is one of the branding stats that shows that cultivating, improving, and encouraging brand loyalty provides great benefits over time. If you need assistance when it comes to brand awareness monitoring and tracking your online mentions, you can use BrightLocal.
19. For 94%, transparency is key to loyalty
People (whether consumers considering retail purchases or business buyers) want to buy from brands they can trust. They have various ethical issues that are important to them, and they want to support companies that have the same values as they have. No one wants to give money to sleazy companies that are ripping people off.
Transparency was at the very top of the list of factors that would influence brand loyalty. In a survey of 2,000 customers, the study found that 94% will be loyal to a transparent brand, and 39% will change brands in pursuit of brand transparency. This brand stat shows that honesty really is the best policy for everything from pricing and operations to employee culture and corporate values.
20. Overdoing self-promotion will cost you followers
Per the Unfollow Algorithm on BuzzStream, 45% of customers will unfollow a brand on social media if it spends too much time promoting itself. Remember that for the most part people are tuned into one station: “WIIFM” (an acronym that stands for “What’s in it for me?”).
Create a customer persona, or an ideal customer, and think about how your brand solves problems for that ideal customer. Then, target your social media marketing efforts around that narrative and you’ll build a winning formula. Curious about what a customer persona is all about? Read this article on how to create a customer persona and download a free template.
Branding statistics from a study conducted by Twitter and Market Probe International found that 72% of customers who follow a company on Twitter are likely to buy from that company. Instead of only promoting your products, offer information and engagement that will help your customers within your niche. Focus on making their lives better, and you will gain loyalty.
21. Most people follow 1-4 brands
It takes effort to win customers on social media. Fifty percent of customers only follow one to four brands on social media, with another 26% following fewer than 10 brands. Getting into the coveted spot where customers are willing to have you show up on their feed is a competitive task. Again, it’s all about relationships.
Brand stats tell us that customers want to feel they have a relationship with the brand. They’ll spend time with your brand, but only if you prove yourself worthy by offering content that is valuable to your customers.
Brand recognition also plays a large role in bringing customers back again and again, as seen in the following statistic.
22. Influencer marketing is the top strategy for increasing brand recognition in 2022
In 2022, marketers are leveraging influencer marketing (34%) more than any other tactic, in part to counteract the diminishing impact of online ads (due to the increased use of ad blockers). This is followed by improving site visitor experience on mobile (33%), short-form videos (31%), virtual events (31%), and experiential marketing (29%) to build brand recognition and promote sales.
The 2022 State of Marketing Trends (by HubSpot, Litmus, Rock Content, and Wistia) report also showed that the top channels being employed are:
- 44%: Social media
- 36%: Website/blog
- 35%: Email marketing
- 32%: Content marketing
- 30%: Influencer marketing
- 26%: SEO marketing
- 25%: Virtual events
23. 80% use social ads to increase brand recognition
Only 20% of brand marketers don’t use social ads to increase brand awareness and recognition. For the eight in 10 using paid social, Facebook produces the highest return on investment (ROI) for 26% of marketers, followed by Instagram, YouTube, Twitter, and TikTok (the new kid on the social media block).
The top social platforms being used for advertising in 2022 are:
- 79%: Facebook
- 69%: YouTube
- 65%: TikTok
- 63%: Instagram
- 57%: Twitter
- 56%: Tumblr
- 49%: Reddit
- 47%: LinkedIn
- 43%: Twitch
- 42%: Pinterest
- 41%: Snapchat
24. 40% of customers will stick to private label brands
Customers bought more private label brands than ever before in recent years. Fifty-eight percent of buyers switched to a private label brand when their preferred brand wasn’t available, and 40% of those said they will continue to buy the private label brand that they switched to.
Private label brands are products manufactured by a third party and labeled with the brand of another. Many small businesses use private label brands to boost brand image and give customers a reason to shop at their stores.
These “exclusive” products rely more upon brand image than product differentiation for sales. Small business owners can benefit from the positive impression that consumers have of private labels to build their own branded products. Nearly half—48%—of those who said they’d keep buying the private label brand they switched to said that price was a driving factor.
25. Signature brand color boosts brand recognition by 80%
Visual branding includes choosing the color, logo type, and other aspects of the design of your brand. Among these attributes, it is color that boosts brand recognition by a whopping 80%. In terms of branding statistics, this indicates why choosing a good website color scheme is so important.
For brand colors, blue and shades of blue are the most popular. Around 30% of brands include some shade of blue in their logo. In Western culture, color denotes things like security, trustworthiness, and seriousness. The color blue can even produce calming feelings. This is one reason why financial firms like IBM and Chase bank use blue in their logos.
Branding helps ensure you are top of mind whenever a customer or potential customer sees your logo. Learn more about how to make a good website by reading our list of web design statistics.
26. Great customer service wins over 86% of customers
Many small business owners complain that they can’t spend as much on branding as their larger competitors. This may be true, but it’s not always what you spend on a fancy new logo or an ad campaign that matters.
A convincing 86% of the time, a great customer experience will turn a one-time client into a loyal brand advocate (Khoros). In addition, 83% of customers feel more loyal to a brand that has resolved an issue or complaint. Another branding stat offered by Salesforce Research indicates that 89% of people are likely to purchase again when their first brand experience was a positive one.
Providing exemplary customer service throughout your company, for example, costs little or nothing. However, it yields extraordinary results when it comes to positive brand impressions.
27. Customers make decisions based on customer service reviews
Customer service is a massive driving factor in customers’ decisions to buy again or not to buy again. Customers are also very likely to share their customer service experiences online, whether the experience was good or bad.
Those reviews matter: 80% of consumers say they only trust brands with 4- to 5-star ratings. Only 13% will consider doing business with a brand rated 1-2 stars. An ongoing review strategy is also important as 85% of consumers say they only factor in reviews left during the most recent three months, and 40% don’t even consider those more than two weeks old.
The most proactive approach for managing your brand’s reputation is to tap a top digital marketing agency like Hibu. Hibu’s experienced professionals will manage your online customer reviews as well as collect and share customer feedback, ratings, and reviews.
28. A 2% increase in customer retention can lower costs by 10%
Customer retention, or keeping customers coming back to your business, lowers costs by 10% because you spend less on acquisition advertising. The better your brand, the more recognition your business receives, and the easier it is to keep it top of mind among your customers.
Better branding leads to improved recognition and sales which, in turn, reduces the amount of money you must spend on advertising. It’s a virtuous cycle that starts with creating a great customer experience and welcomes customers with consistent values, products, and services.
29. 62% of customers share deals with friends
Social media is an incredibly effective venue for word-of-mouth sharing about brands. Running deals on social media and asking customers to share your offer is an effective way to generate word-of-mouth buzz and get new followers and leads online. Make the most of this and similar word-of-mouth branding stats by offering deals and giveaways that require customers to like and share to get the deal.
30. 36% of brands want employee word of mouth
Who better to endorse a brand than its employees? Thirty-six percent of B2B companies are or plan to encourage online employee advocacy to build a stronger brand reputation. The same is true for 21% of direct-to-consumer businesses and 18% of non-government organizations (Meltwater State of Social Media 2021).
Social media, of course, is another highly effective way to build your brand, which is why your branding strategy should also carry over to any social media channels your business chooses to use. When building a brand on social media, it is import to consider the information in the following statistic.
31. Personalized ads are preferred by 48% of customers
Many consumers, especially younger ones, have accepted that their data is going to be sold as the price for being online. As long as their information is getting collected and sold anyway, nearly half say they want companies to personalize the way they advertise to them, targeting their individual interests and lifestyles and bringing them products that will make their lives better.
Still, this is easier said than done. The Bynder State of Branding report revealed that brand marketers sometimes find it difficult to personalize marketing and advertising content, citing these top brand marketing challenges:
- 25.7%: Creating personalized messages for the right audience
- 23%: Getting the right technology in place to support personalization
- 21.8%: Finding the right balance between personalization and brand voice
Your audience doesn’t want to be bombarded with ads, especially for things they find irrelevant or uninteresting. They want your ads to be placed in their digital path at the right time, on the right channel, with the products they want to see, in ways that are useful, entertaining, and educational—not annoying.
To do this, you’ll need to utilize the right data and lead management tools. In order to segment your customer base properly, use a top customer relationship management (CRM) platform like HubSpot CRM to collect and organize your data. Then use the platform’s native email marketing and ad management tools to put your ads in front of the right customers at the right time.
32. Effective use of social media can increase sales by 32%
Stores with a social media presence make an average of 32% more sales than stores that aren’t on social channels. From engaging posts to real-time customer service (which makes you look trustworthy to potential customers), your Facebook, Twitter, and Instagram accounts can all help your business win customers and generate more revenue.
For example, nearly eight out of 10—78% of U.S. consumers—have purchased from a brand they discovered on Facebook. For more information on how social media can boost your small business, check out our guide to social media marketing.
33. 73% of marketers think social media marketing is effective
Today, customers expect to be able to engage with brands instantly, especially on social media. Customers also look to social media to see how companies handle customer service and whether they are responsive to customer feedback. Social media users share deals and reviews with each other.
Sixty-eight percent of adults use Facebook, making it the most-used social media platform. And 73% of marketers believe that social media is either somewhat effective or very effective for their business. These branding statistics show just how important it is to invest in a winning social media strategy.
34. Choosing the right platform matters
Few marketers are unaware that some social media platforms are better for building brand recognition and awareness with their target audiences than others. Fifty-five percent of business-to-business (B2B) marketers turn to LinkedIn compared to just 28% that leverage Facebook for brand building, per MeltWater’s 2021 State of Social report.
On the other hand, Facebook is far and away the go-to social channel for building brand awareness for business-to-consumer (B2C) companies. Sixty percent of B2C companies use Facebook for marketing followed by 28% using Instagram, 6% using Twitter, and just 2% investing in LinkedIn as a marketing tool.
Small business owners would be wise to invest time and effort into their branding. A strong brand with wide recognition can be worth millions, if not billions, of dollars.
To build such a brand, begin with excellent service, which costs nothing except time and training to implement. A recognizable brand image, consistently deployed across all marketing channels, helps increase brand awareness. With the insights from these branding statistics, you can build a great brand that helps you retain more customers and reduce marketing costs.
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