We sometimes hear words like “if your product is really good, it should be able to sell itself”. While I don’t believe that anything good can sell itself, I agree with the idea that a top-quality product or service could be much easier to sell. Gregory Berns says, “a person can have the greatest idea in the world, but if the person can’t convince other people about it, then it doesn’t matter”.
Brand awareness is mostly the first step to driving performance-marketing goals, such as leads and sales. Not creating brand awareness for a new product or service often leads to low patronage, less profit, etc. Making people aware of your brand, especially by targeting relevant audiences, will increase your chances of generating conversions and dominating the market.
Recently, I witnessed how a well-known Businessman by name Obi Iyiegbu, fondly called Obi Cubana launched his product “Odogwu Bitters” into the market. He painstakingly created lots of brand awareness which has seen the demand for the product skyrocket, with almost every shop and mall in the country having the product in stock.
One thing brand awareness campaigns do is that aside from the fact that it helps more people know about a product or service, it also changes how people perceive a business which contributes to the overall brand affinity and loyalty.
Below are five (5) advantages of brand awareness;
Top Of Mind: When a brand carries out its brand awareness campaigns effectively, it registers its product in the mind of potential customers. What this means is that when customers need to purchase within your product category, it is your product they will first think of. Through repeated exposure and consistent delivery of your product, customers will have no option but to keep your product in mind, and whenever they need to purchase, they won’t hesitate to patronize your brand.
Helps In The Introduction Of New Products: Companies that established a successful brand awareness campaign after experiencing high patronage from customers can decide to extend the brand by adding new products under the same family brand. Such a type of branding is highly advantageous because it allows companies to introduce new products with ease, knowing full well that the brand is already recognized in the market. It leverages on the popularity of the initial product.
Attracts Investors: A good brand identity can help your business draw close investors. Most investors are always on the lookout for popular brands to partner with, when your brand is of high value, it will definitely attract investors. Even if you do not need the money, investors offer more than just financial backing, as they come with expertise that can make a business very successful for a long period.
Increases Sales: One of the topmost benefits of brand awareness is that it increases sales. Research reveals that for most people shopping for items, brand awareness is a dominant choice tactic. They tend to have a preference for high-awareness brands, despite any quality or proven differences. Good brand awareness makes people more familiar with your product.
Retains Customers: Brand awareness plays an active role in retaining customers which makes them always come back to buy your product. Once a brand creates a sense of trust with customers, they are more likely to always patronize the brand they have bought from before.
Conclusion
For a business to thrive in today’s world, there is a strong need to create good brand awareness. No matter how good a product or service is, it won’t sell itself. Brand awareness makes the public recall emotions and general impressions about a brand.
