{"id":298,"date":"2023-09-02T02:54:00","date_gmt":"2023-09-02T02:54:00","guid":{"rendered":"https:\/\/savemycent.com\/?p=298"},"modified":"2024-02-16T14:27:51","modified_gmt":"2024-02-16T14:27:51","slug":"branding-statistics","status":"publish","type":"post","link":"https:\/\/savemycent.com\/branding-statistics\/","title":{"rendered":"25+ Impressive Branding Statistics for 2024"},"content":{"rendered":"\n
What\u2019s in a name?<\/p>\n\n\n\n
For companies that want to succeed, the answer is \u2014 everything.<\/p>\n\n\n\n
But branding is much more than just the name. A brand is the emotion and story behind a business that the company relays to its customers through everything it does.<\/p>\n\n\n\n
The concept has become very prevalent in the last few decades and has expanded to employer branding and personal branding. The latter is particularly interesting \u2014 with more than half of the world online, everything you post under your name becomes part of your personal brand.<\/p>\n\n\n\n
Let\u2019s look into the most recent branding statistics to see what companies, employers, and individuals can do to build a strong reputation. Although the world is currently facing much bigger problems, branding is as important as ever in 2022.<\/p>\n\n\n\n
(Pam Moore)<\/p>\n\n\n\n
Brand recognition statistics reveal that people need to see a brand\u2019s message or interact with it five to seven times before remembering it. Of course, some brands buy our attention in fewer than five interactions, while some need more than seven. This is an excellent reminder that not all prospective customers are the same. To ensure the broadest possible reach, brands need to deliver their messages clearly and consistently \u2014 preferably via social media channels.<\/p>\n\n\n\n
(Forbes, Better Business Bureau)<\/p>\n\n\n\n
According to psychologist Jerome Bruner, stories help us remember facts 22 times faster than dry statistics. As such, businesses shouldn\u2019t underestimate the importance of a relatable story.<\/p>\n\n\n\n
Research shows that 15% of consumers who like a brand\u2019s story immediately purchase from it. Additionally, 44% share that story, and 55% are more likely to buy from the brand in the future.<\/p>\n\n\n\n
(Stackla)<\/p>\n\n\n\n
However, 51% of consumers believe more than half of all brands miss the goal of sounding authentic. This points to a deep disparity between consumers\u2019 and marketers\u2019 beliefs. According to statistics about branding, 92% of marketers believe most or all of their brand\u2019s content leaves an impression of authenticity. And while the majority (58%) of consumers think user-generated content brings the most authenticity, only a tiny portion (15%) of marketers agree.<\/p>\n\n\n\n
(Lucidpress)<\/p>\n\n\n\n
In recent years, we\u2019ve seen the importance of brand consistency go up, especially on social media, where millions of people regularly interact with their favorite businesses. Since 2016, when companies attributed 23% of their revenue growth to consistency, the number has gone up by 10 points. But consistency doesn\u2019t only apply to messaging. With 71% of shoppers using mobiles in stores<\/a>, omnichannel consistency is also a must for a great customer experience.<\/p>\n\n\n\n (Edelman)<\/p>\n\n\n\n As trust in all other institutions gradually dropped during the COVID-19 crisis, branding statistics for 2021 reveal that major companies came out of this relatively unaffected. Globally, 61% of people trust business as an institution \u2014 much more than governments, media, and NGOs.<\/p>\n\n\n\n This also means that large companies have been in the spotlight for speaking and acting on social issues. It\u2019s no surprise that 86% of consumers expect CEOs to speak out on these issues. According to branding statistics, avoiding social conversation at times like these isn\u2019t good for business, as consumers follow the behavior of companies and their representatives.<\/p>\n\n\n\n (Edelman)<\/p>\n\n\n\n According to branding stats, the popularity of brands that prioritize consumer safety is up by 31% from 2019. Similarly, 26% more people want businesses to show more care for people buying their products than their financial bottom line. With the economic crisis hitting customers worldwide, 32% more of them now choose brands that provide a better value for their money.<\/p>\n\n\n\n (Statista)<\/p>\n\n\n\n One of the world\u2019s most enduring brands also invests the most in its company branding, facts reveal. Although its branding budget was down to $2.77 billion amid the COVID-19 pandemic in 2020, Coca-Cola consistently spent about $4 billion a year on branding over the prior six years.<\/p>\n\n\n\n (Statista)<\/p>\n\n\n\n Recent brand statistics show that Apple leads the world in value with $263.4 billion as of early 2021. The tech leader was followed by Amazon at $254.2 billion<\/a> and Google at $191.2 billion. Interestingly, despite its vast branding spend, Coca-Cola doesn\u2019t currently rank in the top 25.<\/p>\n\n\n\n5. <\/strong>86%<\/strong> of consumers want their favorite brands to address socio-political issues.<\/strong><\/h4>\n\n\n\n
6. Amid the global pandemic, consumers\u2019 priorities shifted in 2020.<\/strong><\/h4>\n\n\n\n
7. Between 2014 and 2019, Coca-Cola spent $4 billion a year on branding.<\/strong><\/h4>\n\n\n\n
8. Apple was the world\u2019s most valuable brand in 2021.<\/strong><\/h4>\n\n\n\n
Employer Branding Statistics<\/h3>\n\n\n\n