Brand awareness is the level of consumer consciousness of a company. It measures a potential customer’s ability to not only recognize a brand image, but to also associate it with a certain company's product or service.
Brand awareness is best spread through both inbound and outbound marketing efforts. When competition in an industry is high, brand awareness can be one of a business's greatest assets.
Why is brand awareness important in marketing?
With the vast amount of products options, having a differentiated message and an audience that can distinguish a company's brand from its competitors is crucial. It can mean the difference between success and failure for a company.
Entire marketing campaigns can be constructed around promoting awareness of a brand. Spreading brand awareness is especially important during a company's first few years, when they are trying to make a name for themselves.
When consumers are aware of the product a company offers, they will more likely go straight to that company if they need that product, instead of researching other places that they can acquire that product. Businesses with strong branding are viewed as accepted by the market. Therefore, they are trusted more by consumers who are looking to purchase a new product.