If you are looking for branding statistics for 2021 then you are in the right place. In this article, I am going to talk about the branding statistics you need to know in 2021. So keep reading.
To most business owners, branding is all about logo creation. This is probably why they spend too much time creating eye-catching designs. The truth is that branding is a combination of your company logo, culture, and values. It is an integral part of every business’ vision and mission. Having a proper understanding of this concept and how to use it can make your business stand out.
Building a successful brand takes time and patience. Also, there are some aspects you need to understand. This post will be revealing some of the top branding statistics in 2021. Don’t just check them out but also ensure they are adopted in your business for the best results.
1. The Impact Of Color
Do you know that colors are unique in terms of the messages they can send to your potential and existing customers? Just as said above, most business owners spend lots of time designing their logos. However, they pay little or no attention to the colors that have been used for such designs.
In case you don’t know, color can play a major role in your brand recognition in 2021. Studies have shown that this can contribute about 75-80% of how your brand is recognized. Over 90% of successful businesses send out emotional messages with their choice of colors according to Reboot, (2018).
It is great to copy the concept/idea of a company in your niche. However, note that your success will be limited to a great extent. Most successful brands all over the world that you know of today have survived based on being authentic.
As a matter of fact, in a survey that was carried out, over 80% of people prefer signing up with authentic companies. They claim to like as well as support such companies based on the fact that they are innovative. You should try to come up with ideas that your competitors haven’t thought of before.
3. Customer Service
About 70% of consumers love it when customer support is very effective. It is true that your business is trying to meet the expectations of potential and existing customers. However, the reality is that such may not be the case. Simply put, there are times when your product may fall below expectations.
At that point, customers may feel stranded and need the best of assistance. This is where effective customer service may prove helpful. It has been discovered that companies in the US lose over $50billion due to poor customer support departments.
4. Building Trust
Most companies try to focus on their products which is quite wrong. The major area of focus should always be how to build trust through the creation of value. It is one of the most effective ways to protect your reputation.
Research has shown that before 80% of customers patronize a brand, trust must first be created. A healthy long-term relationship will be built once brands are honest in their dealings with potential customers.
5. Increased Salaries
Do you know that companies with poor branding strategies usually end up paying more? They pay about 10% more of what other companies with successful branding strategies usually pay to their workers. According to experts, there is one clear reason for this increment. This is a fact that they are struggling to make an impression in the market. Due to this, attracting the best hands will prove to be more expensive.
Statistics have revealed that brands are usually trusted due to their impact on society. In fact, almost 70% of customers find it easy to trust brands that have contributed towards the development of their environments via one means or another.
When your brand starts reflecting the values and societal needs of your target audience, it becomes easier to win their trust. It is the reason why major companies/brands around the world can’t stop taking up social responsibilities. This is one of the most guaranteed ways of winning the hearts of people.
The Impact Of Discounts And Coupons
If you must know, discounts and coupons are still as effective as ever. This was demonstrated in the survey conducted by Expedia Affiliate Network. The results proved that 61% of people usually rely on such promotions in order to patronize companies. Also, over 50% of customers make use of points and rewards. Your brand will become recognized once it is giving out discounts especially during special periods. To do this properly, you need to focus on the bigger picture.
According to Label Insight, over 90% of customers are usually loyal to brands that have proven to be very transparent. This shows to a great extent that customers value honesty. In other words, they want brands to be honest while dealing with them. When companies are transparent, their refund rates tend to be reduced.
Based on this, it is recommended that your brand is open and honest with its potential and existing customers. There is no need to try to create a wrong impression about what you can’t help them experience. Stick to the honesty policy and you will definitely grow.
The Effect Of Content Marketing
Most businesses are beginning to prefer content marketing to traditional marketing. According to Demand Metric, the results gotten from content marketing are more than 300% of what the traditional marketing method generates. It is one of the reasons why companies are submitting articles and posts more than ever before.
Over 70% of people would like to discover more about companies in a natural way instead of via paid ads. This makes them learn more about their services before deciding to pull out their credit cards.
The Power Of Instagram
Branding statistics are showing that Instagram subscribers feel safer patronizing brands on the platform. Could it be because of their picture/photo content? Over 90% of users on this social media website are either following one brand or another. You should consider taking advantage of this to make your business competitive.
So that’s all from this blog I hope you like it. Also, please share this article on branding statistics for 2021 with your friends and social media followers.