{"id":1926,"date":"2020-12-18T12:44:50","date_gmt":"2020-12-18T17:44:50","guid":{"rendered":"https:\/\/www.sharpinnovations.com\/blog\/?p=1926"},"modified":"2021-11-30T11:16:20","modified_gmt":"2021-11-30T16:16:20","slug":"rethink-brand-awareness-and-its-value","status":"publish","type":"post","link":"https:\/\/www.sharpinnovations.com\/blog\/2020\/12\/rethink-brand-awareness-and-its-value\/","title":{"rendered":"Rethink Brand Awareness and Its Value"},"content":{"rendered":"\n

Let\u2019s face it, we all want to equate marketing dollars\ndirectly to growth. <\/p>\n\n\n\n

When planning any marketing campaign, it\u2019s best to have your\ngoals, strategies, and metrics tracking in place to indicate the success or\nfailure of your marketing campaigns.<\/p>\n\n\n\n

Data-driven marketing is a fantastic way to grow your\nbusiness and protect your marketing budget from efforts that don\u2019t equate to returns.\n<\/p>\n\n\n\n\n\n\n\n

Easily Measured Efforts, the Darlings of Data<\/h2>\n\n\n\n

Business owners love data-driving marketing because it puts\nthem in control of the flow of new leads, existing customers, and sales.\nMarketers love this data as well because it shows what value they are bringing\nto their clients. <\/p>\n\n\n\n

User tracking gives us the ability to quantify marketing\nactivities in real-time, providing everyone\u2019s favorite: instant gratification. <\/p>\n\n\n\n

Yet there is more to a comprehensive marketing plan.<\/p>\n\n\n\n

So, let\u2019s collectively pull our hair out and discuss brand\nawareness campaigns. It can be frustrating because it\u2019s not measured as easily\nas user tracking.<\/p>\n\n\n\n

Brand Awareness & Brand Recall<\/h2>\n\n\n\n

Brand awareness consists of two components: brand recall and\nbrand familiarity.<\/p>\n\n\n\n

\"colors
Thinking about a specific doughnut and coffee chain?<\/em><\/figcaption><\/figure><\/div>\n\n\n\n

For example, there\u2019s a billboard on the side of a highway\nfor a personal injury attorney. If you are an attorney, why would you put a\nbillboard up on the highway? Do you hope it is seen by someone who just got\nhit? Likely not the case. The point of the billboard isn\u2019t for the reader to\ntake immediate action. The real value is in familiarizing the passers-by with\nthe attorney. <\/p>\n\n\n\n

When done thoughtfully, a brand familiarity campaign will enhance the perceptual identification of a brand, business, or product. It will build subconscious trust<\/em> that motivates a purchasing behavior, or potentially generates a positive reaction toward the overall brand or business.<\/strong><\/p>\n\n\n\n

Brand recall is similar but is based on the as-needed moment.\nYour brand, services, or product is remembered when the need arises. For\nexample, you run out of toothpaste and different toothpaste brands pop into\nyour head. This can be accomplished in a variety of ways but none of them will\nbe successful without establishing brand recognition prior to brand recall.<\/p>\n\n\n\n

Jingles, slogans, logos, etc., are all tried-and-true\nmethods to trigger brand recall. <\/p>\n\n\n\n

While you might not be able to recall the phone numbers of\neach family member in this age of smartphones, most of the people reading this\ncould call Empire Carpets or tell me what brand \u201cJust Do it\u201d is associated with,\nwithout any hesitation. That\u2019s brand recall at work.<\/p>\n\n\n\n

What Business Owners Miss About Brand Awareness Marketing<\/h2>\n\n\n\n

Many studies show that the more someone sees a brand, hears it,\nand experiences its services, the more likely they are to select that brand\nwhen making a purchase. If you stop thinking about brand awareness campaigns as\noutside of your existing campaigns and see it as an enhancement to them, you\u2019re\nin the right space.<\/p>\n\n\n\n

Granted, it can be difficult to track the ROI for brand\nawareness. The good news is our brains are wired for recall and it can pay off.<\/p>\n\n\n\n

Out of the many marketing presentations I\u2019ve witnessed, I recall one marketer who stood out. She presented an integrated, comprehensive strategy that included content development, email, social media, and a small targeted paid ad campaign<\/a>. She laid out the how and why of what she would track to study and grow the campaigns and even gave estimates for impressions and reach, as well as measurable and potential drop-off points. The last thing she touched on was the value of brand awareness.<\/p>\n\n\n\n

Just after she finished presenting, she asked if there were\nany questions. One executive bluntly asked, \u201cHow does any of this make us\nmoney? None of this is making sales. I\u2019m sorry, but I\u2019m not paying for\ninterests; I\u2019m paying for results.\u201d<\/p>\n\n\n\n

\"quote <\/figure><\/div>\n\n\n\n

She looked pretty defeated by the response.  She impassionedly attempted to explain that\nno one could buy from the business if they didn\u2019t even know the business\nexisted. She explained that these campaigns and strategic pieces were designed\nto increase their brand awareness so audiences would become interested and\npotentially become customers. <\/p>\n\n\n\n

Ultimately, the executive team decided that there was no way\nto guarantee that these things would translate to sales. It\u2019s an unfortunate\nscenario but not uncommon.<\/p>\n\n\n\n

Budget-givers and decision-makers are used to the ways of\nthe past and aren\u2019t convinced that marketing can drive results. This mindset is\nwrong.  <\/p>\n\n\n\n

Even in small campaigns, brand awareness plays a critical role in revenue models and ultimate return rates. Once someone is aware of your brand, it kickstarts the buyer\u2019s journey.<\/p>\n\n\n\n

Brand Awareness and the Bottom Line <\/h2>\n\n\n\n
\"sharper <\/a>
Sharp Innovations Newest Outbound Marketing Platform<\/figcaption><\/figure><\/div>\n\n\n\n

To demonstrate brand awareness value with a bit more specificity, consider our email marketing outreach<\/a> platform, Sharper Edge ™. <\/p>\n\n\n\n

From our own ROI studies, we know the open\/reply rate for email outreach goes up significantly (11%-24%) when the person receiving our emails has our logo, name, or product name in the prior 10 days. <\/p>\n\n\n\n

Let\u2019s say you email 2,500 contacts. You can expect an average open\/reply rate of about 5%. That\u2019s 125 replies. Let\u2019s assume of that 125 only 5% turn into a sale. In the end, you\u2019re left with 6 people.<\/p>\n\n\n\n

Based on our testing, had you started your engagement with a\nbrand awareness campaign via social media or a targeted display ad, you would\nbe in that 11%-24% instead of the 5% open\/reply rate.<\/p>\n\n\n\n

So, you start with 2,500 contacts and get an 11% open\/reply\nrate. You can estimate that you\u2019ll hear back from 275 of your prospects. Of\nthat 275, assume only 5% will ultimately convert. You are looking at 13\npotential leads.<\/p>\n\n\n\n

You doubled the number of leads through complementary brand\nawareness. <\/p>\n\n\n\n

Ready to Boost Your Brand Awareness?<\/h2>\n\n\n\n

Sharp Innovations can develop a comprehensive digital\nadvertising and marketing strategy to boost your business\u2019s digital campaigns\nand bolster your brand awareness. We can help consumers interact with your\nbrand seamlessly and get it in front of a larger audience.<\/p>\n\n\n\n

Our Internet marketing services are all-encompassing, and we\ninvite you to learn more\nabout our marketing services<\/a>.  We\u2019re\nready to help more people recall your brand, fully aware of what your business\nhas to offer them\u2026and nudge them into leads.<\/p>\n","protected":false},"excerpt":{"rendered":"

Let\u2019s face it, we all want to equate marketing dollars directly to growth. When planning any marketing campaign, it\u2019s best to have your goals, strategies, and metrics tracking in place to indicate the success or failure of your marketing campaigns. Data-driven marketing is a fantastic way to grow your business and protect your marketing budget…<\/p>\n","protected":false},"author":21,"featured_media":1931,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[401,405,404,402],"class_list":["post-1926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-branding","tag-brand-awareness","tag-brand-awareness-marketing","tag-brand-trust","tag-market-trust"],"yoast_head":"\nRethink Brand Awareness and Its Value<\/title>\n<meta name=\"description\" content=\"Brand awareness, although difficult to measure as hard data, is often the first step to successfully gaining leads and sales.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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