What is Brand Awareness?
Brand awareness refers to the extent to which consumers are familiar with the distinctive qualities or image of a particular brand of goods or services. It’s a measure of how well a brand is recognized by its target market and the general population.
Here are some key points to understand about brand awareness:
Recognition vs. Recall
Brand awareness can be split into two types:
- Brand Recognition: This is about consumers’ ability to confirm they’ve previously been exposed to a brand when given the brand as a cue. For instance, when shown a logo, they can immediately identify the company or product it represents.
- Brand Recall: This is about consumers’ ability to retrieve a brand from memory when given a product category or some other cue. For example, if someone mentions “fast food,” how quickly can a person think of “McDonald’s”?
Importance: Building brand awareness is often one of the initial steps in marketing a product or service, especially for new businesses or those entering new markets. If consumers are aware of a brand, they’re more likely to consider it during the purchasing decision.
Building Brand Awareness
Companies often use various marketing strategies to boost brand awareness, such as advertising (TV, radio, online, print), sponsorships (sports events, festivals, etc.), public relations, and social media campaigns.
Metrics
There are ways to measure brand awareness. Brand awareness surveys can ask questions related to brand recall or recognition, while online metrics might look at search volume data for a brand or mentions on social media. Popular brands often use some of the best influencer marketing tools to improve their campaigns and metrics.
Long-term Asset
High brand awareness can serve as a long-term asset. Well-known brands often enjoy increased customer loyalty, can command premium pricing, and may have a competitive advantage in the market.
Top of Mind Awareness (TOMA)
This is a special kind of brand recall. It refers to the first brand that comes to mind when a consumer thinks about a particular industry or product category. For instance, if a person immediately thinks of “Nike” when sports shoes are mentioned, then Nike has top-of-mind awareness for that individual.
Brand awareness is about creating a mental footprint in the consumer’s mind. The stronger and more positive this imprint, the more likely the consumer will think of, trust, and buy from that brand.
