Brand Awareness: How Much Does It Impact Profits?
Brand awareness may sound like a straightforward term, but in reality, it is comprised of different elements. The first one is branding and the creation of a strong brand that all stakeholders are aligned on. The second step is layering PR and marketing on top to help get your brand noticed.
Brand Consistency: The Impacts on Profit
Although design, PR and marketing can be seen as business cost centres, research has looked into the tangible benefits. Brand consistency (a result of branding) has been shown to be a key element in business growth. In fact, brands that stay consistent see as much as twice the profit of those that don’t. If you are wondering why brand consistency would play such a big role in B2B financial technology, it’s simple: as long as people are still making the buying decision, trust and familiarity will take precedent.
Why Public Relations Matters for the B2B Buyers Journey
If you are wondering how you can build trust, here is where PR comes in. Generally, people trust other sources, be it word of mouth or reading about it in a publication, as it is perceived as third-party validation. Research shows that 84% of B2B buyers begin their journey with a referral or by researching the brand. Therefore, the importance of being seen in various places online is twofold. Firstly, if you don’t get in front of your audience, you cannot expect them to know what you do. Secondly, when someone hears about you and they have the intent to purchase, if research is the first point of contact, they better be able to find something about you.
PR is shown to be more effective at building brand awareness than advertising. Visibility alone is not enough; trust, validation and reputation ultimately influence whether a prospect chooses your brand or moves onto the next. Organic media coverage delivers all three at scale, shaping perception long before a sales conversation begins.
The Tangible Benefits of Content Marketing
Research clearly shows that marketing impacts trust, lead generation, and customer loyalty. One of the easiest ways for buyers to get familiar with your brand is through consistent content that matters to your target audience. Content marketing plays a direct role in brand awareness and sales. But not all content is equal. Most B2B marketers know that educational content performs best. This is because people don’t want to be sold to but do want to be helped.
Companies that use blogs see 67% more leads and 55% more website traffic than those that don’t. This shows that even concentrating content marketing efforts on one single platform can have a great impact. When content marketing is done consistently and with purpose, it allows brands to meet their audience where they are in the buying journey, offering value before asking for commitment.
Brand awareness may have many moving parts, but the difference is noticeable. Branding, PR and marketing all work together to help the business be perceived as trustworthy, low risk and knowledgeable, and help minimise sales cycles. If you are wondering how you can accelerate your efforts, get in touch with one of our experts.
