Link between Brand Awareness & Brand Preference

Link between Brand Awareness
& Brand Preference …

* awareness is the state or ability
to perceive, to feel, or to be conscious of …

Building awareness …

Although boosting brand awareness is a complex matter, it’s possible to identify practical considerations that apply in any market or competitive situation.

The upward slope illustrates the positive relationship between awareness and brand preference for all businesses in the study. That is, as awareness increases, brand preference increases. Notice also that the line is curved in a slight u-shape.This implies that as higher levels of awareness are reached, the conversion to brand preference comes more quickly.

* Blue Ocean Strategy road

Companies near the lower end of the line should increase awareness to take advantage of the increasing, favorable impact on brand preference. Companies at the upper end of the line must maintain their current level of awareness to prevent a sharp decline in brand preference.

1. Focus on the behavior
and wants of the audience

Awareness is built from the outside-in; identify what matters to the target audience and craft your brand message and identity accordingly. Internal considerations such as management perceptions, past budget allocations, and adherence to scientific and legal jargon are less important in the battle to win awareness …

2. Speak with a consistent,
unified voice across all media

Message coordination, regardless of the medium, is essential to strong brand identity. Consistency in key themes and selling propositions builds brand-based identity and expectation in the minds of prospects and customers, promoting retention and top-of-mind awareness.

3. Continually reinforce awareness
among existing customers …

While acquiring new customers (conquest marketing) is essential for any business, retaining existing customers (relationship marketing) is more profitable. In one study, a 5% increase in customer retention yielded an impressive 80% gain in profits. Although your results may not be as dramatic, building awareness among current customers does pay off with accelerated gains in brand preference and ROI.

4. Allow sufficient time …
… and frequency for awareness gains

Some marketers make the mistake of quitting before the real payoff occurs. Building awareness through message frequency takes time, but pays off by moving awareness to the level where brand preference gains accelerate (see reverse side). Smart marketers recognize this increases brand value for existing as well as future stakeholders. Building awareness is cumulative; pulling the plug too early largely wastes the marketing dollars already invested: