Brand awareness plays a significant role in a consumer’s choiceof where to purchase goods or services
What is Brand Awareness?
Brand awareness is the term for how familiar customers, or potential customers are with your brand, service, or product. Does your brand immediately come to mind when a consumer thinks or talks about your product or service? When interacting with your brand, do new customers have existing knowledge of what you do or sell?
Ultimately, how well does your target audience know your brand?
Brand awareness can be identified in two ways. Firstly, do customers or potential customers recognise or know the name of your brand? Secondly, and most importantly, does a customer or potential customer know what you sell and what you’re known for? Being able to recall your brand as being familiar is one thing, but a customer or potential customer being able to recall exactly what products or services you sell, is key to having a strong brand awareness.
How important is Brand Awareness?
Brand awareness plays a significant role in a consumer’s choice of where to purchase goods or services. If they are familiar with your brand or what you sell, they are more likely to purchase from you or purchase your brand. If a potential customer is not aware of your brand, products, or services, they will be more likely to purchase from a competitor brand or purchase a competitor product.
Brand awareness directly impacts sales
If sales for your brand or a particular product are low, or lower than expected, this could be linked to a lack of brand awareness by your target audience.
How to measure Brand Awareness:
The key to conducting successful brand awareness research is selecting the right panel of participants. Using customers who are loyal to your brand and purchase your products or services regularly, won’t produce the desired outcome for this type of research. Ideal participants are those that have little to no interaction with your brand.
Once you have selected your panel of participants, the next step is to design the structure of the brand research focusing on spontaneous and prompted awareness.
These core elements will drive the panel discussion or survey, focusing on areas such as which brands they are most familiar with, why did they select those brands and what do those brands offer that other brands don’t? Really focusing on this feedback and digging deeper into the participants responses will allow you to identify common themes and what consumers prefer about different brands, which ultimately impact their buying habits.
Get in Touch!
At My View Research we have a panel of thousands of individuals who have registered their interest to participate in research studies. Our platform can identify participants by demographics such as age range, sexual orientation, profession, and location, among others.
Talk to one of our Research Consultants today to find out how we can design a bespoke brand awareness research project for your business.