We’ve been writing and speaking about attribution and the purchase decision related to content production. Brand recognition plays a significant role, perhaps more than you think! As you continue to build awareness of your brand on the web, keep in mind that – while the content may not immediately lead to a conversion – it can lead to brand recognition. As your presence increases and your brand becomes a trusted resource, driving the prospect through to conversion becomes easier.
What is a Brand?
Heidi Cohen has a great article where she shares 30 definitions of a brand. This would be my definition:
A brand is the identity that your company, product, or service has over time. It incorporates both the visual and communicated aspects as defined by the enterprise, as well as the perceived identity from others outside the company. The visual aspects include logos, graphics, colors, sounds, and video. The communicated aspects include emotion, culture, personality, experience, and conscience of the corporation and the people within it.
Douglas Karr
A brand is more than just the identity your company, product, or service develops over time; it’s a dynamic entity continuously validated and curated through vigilant reputation management and proactive engagement. While it does incorporate visual elements like logos, graphics, colors, sounds, and video, as well as the communicated aspects such as emotion, culture, personality, experience, and corporate conscience, a brand extends beyond these.
It’s also significantly shaped by the ongoing monitoring and management of its online and offline reputation. This includes actively responding to customer feedback, engaging with audiences on social media, and adapting to market trends and consumer perceptions. The perceived identity of a brand, as seen from the outside, reflects both the enterprise’s deliberate efforts and the public’s response to those efforts. A brand, therefore, is a collaborative creation between a company and its audience, constantly evolving through this interactive process.
How The Internet Transformed Brands
The internet has revolutionized branding profoundly, reshaping the relationship between companies and consumers. In the pre-internet era, branding was predominantly a one-way street, with companies broadcasting their messages through traditional media like TV, radio, and print. This allowed companies to control their brand narrative and image tightly. However, the internet, particularly social media’s advent, turned branding into a two-way dialogue.
Firstly, the internet democratized content creation and distribution. Anyone with an online presence can share their opinions about a brand, significantly influencing public perception. This shift has necessitated a more responsive and interactive approach to branding. Companies are no longer just broadcasters but participants in ongoing conversations about their brands.
Secondly, online platforms have given consumers unprecedented access to information about products, services, and companies. This transparency means that branding is not just about the message a company wants to convey but also about its consumers’ actual experiences and opinions. Online reviews, social media feedback, and user-generated content are critical in shaping a brand’s image.
Lastly, the internet has enabled more targeted and personalized marketing strategies. Data analytics and digital tools allow companies to understand consumer behavior and preferences in real time, leading to more personalized and effective branding efforts. This has shifted the focus from broad, generic advertising to more tailored and relevant communications.
Brand Impact Statistics
The internet has transformed branding from a controlled, one-way process to an interactive, dynamic, and consumer-influenced phenomenon. Brands must now navigate a landscape where control is shared with consumers, and adaptability and engagement are crucial for success. Here are some key statistics on the influence of brands on consumer purchase decisions:
Advocacy – 38% of people recommend a brand they like or follow on social media.
Brand – 21% of consumers say they purchased a new product from a brand they like.
Conversions – 38% of moms are more likely to buy products from brands other women Like on Facebook.
Email Marketing – 64% of respondents will open an email if they trust the brand.
Search – There was a 16% increase in brand recall when a recognized brand appeared in search results.
Social Media – 77% of brand conversations on social media are people looking for advice, information, or help.
Word of Mouth – brands that inspire higher emotional intensity receive three times the word-of-mouth marketing.
With the brand holding so much weight over the purchase decision, a key takeaway for any organization is that the perception of your company has incredible influence. That means that even the most impactful marketing strategy deployed across all channels will be derailed by terrible customer service or an incident that tarnishes the organization’s perception.
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Originally Published on Martech Zone: The Impact of a Brand on Consumer Purchase Decisions