Brand awareness is an important component of your marketing efforts. It represents the extent to which consumers are familiar with particular brands. The amount of commercial messaging is overwhelming the consumers, so they use mental shortcuts to decide upon their purchase. Brand awareness creates a number of different effects on a consumer’s perception of your brand, such as imprinting in ones mind what your brand is and what it stands for. The eventual result is an increase in sales.
Raising awareness about your product is the first step in guiding them to action (purchase). The main four steps are: brand awareness (the customers transition from consumers to potential consumers), interest (the phase in which the customers are intrigued, and you have to turn that intrigue into desire), desire (when they desire your product, you need to give them a reason to buy it), and action (the actual purchase).
How does brand awareness affect buyers’ perception?
Perception of quality. Highly advertised brands are expected to offer products of higher quality. Products offered in grocery stores range from generic products to recognizable brands, and buyers are likely to view those higher-priced brands as superior to store brands. The perception of a brand can be altered and sales increased by promoting it on various platforms, like point of sale displays, counter displays, free standing display units or dump bins. If it often appears on various platforms, the retail sales will rise.
Presumption of availability. Well advertised brands are well distributed. That is why they are associated with easy availability by consumers who assume that they can find them in a variety of outlets.
Brand name recall. Brand awareness can be a catalyst for further growth. A well-known brand is at the top of a consumer’s list when he tries to remember several brands in a certain product category. The top place in consumers’ minds the ultimate goal of every brand marketing strategy.
Niche identification. Brands can build a sense of identity with particular consumer groups, due to a high level of brand awareness. They connect in such a way that they are seen as marks of pride in those groups. Take for example Air Jordans, the brand of basketball sneakers created by Nike. Every basketball player felt that he had to have a pair.
How does brand awareness affect consumer buying behavior
Consumers use mental shortcuts to bring a decision, thus avoiding themselves being overwhelmed by a high number of available purchasing options. Brand awareness was to consumer preferences in a 1990 study, and that was confirmed many more times in years to come.
Buying habits. If customers have to choose among a number of options that includes many unfamiliar brands and one known, they will go for the known one. When exposed to other known brands, most of them will still choose the one they decided upon initially.
Implications. Building brand awareness of your company’s products is important for increasing your retail sales and market share. If your product is the one that will be implanted in the consumers’ minds first, it will build their buying habit and create a barrier to entry for other brands.
Techniques for building brand awareness.
What you need to do is to make your name memorable in every way that is possible. Create a specific brand message and create an identifiable logo. Make sure that your product is recognized by your target market. Use all distribution platforms accessible to you and design a good strategy for each particular campaign.
Be consistent and commit to following up the promises made in your initial exposures. When you manage to bring your product at the top of the aforementioned list in consumers’ minds, they will most likely decide to purchase your product instead of any other one.