What is Brand Awareness?In very simple terms: “Brand awareness is the extent to which customers are able to recall or recognize a brand under different conditions.“
In the FMCG, it is very well established that advertising campaings are essential to keep one’s market share.
In B2B, it is probably a little bit different.
At Taboola they explain: “Brand awareness is important because it is the very first step in the marketing funnel, and a crucial foundation to eventually acquire customers“.
This is something that we can read almost everywhere.
“Products and services that maintain a high level of brand awareness are likely to generate more sales. Consumers confronted with choices are simply more likely to buy a name brand product than an unfamiliar one.”
If we are a little bit sarcastic, we can summarise it as:
Don’t be shy to spend money in all types of marketing campaigns and actions. If you need to justify, just say it is about Brand Awareness.
The truth of it is that it is challenging to measure the efficiency and the return of all these marketing campaigns about Brand Awareness.
The fascinating thing is to see that marketing investments that do not reach their goals are transferred a posteriori to Brand Awareness to justify the amounts.
When the objective is to acquire customers, to generate and grow the business, then the focus should be on Lead Generation; Not on brand awareness.
Isn’t it better and more efficient to use resources to generate qualified leads, to build and target the right audience, to deliver the right message that will have a strong impact on the designated audience?
When someone reaches your website because of your marketing investments, you don’t expect this visitor just to have look and leave!
If this happens, then you have probably lost your investment.
This is very important as “The traditional marketing funnel is dead.
All the stages of the funnel are still there, but they don’t look like they used to. Marketers still have to attract leads, generate interest and engagement, and prompt decisions and action, but not necessarily in that order, and not using the same tactics.“
Check the New Marketing Funnel explained by Campaign Monitor.
Be very careful with the marketing investments on Brand Awareness Focus on Lead Generation.
Some very interesting links
- A very interesting development by Campaign Monitor, explaining that “The Marketing Funnel is Dead, and That’s Good News for Marketers“.
- This is confirmed by McKinsey in the article published in The economist: “The funnel is dead. Long live the consumer decision journey“.
- Latana explains that it is possible to measure brand awareness but it is very difficult. In any case, the specific eficiency of a campaign cannot be measured.>/li>
- On Brand24 they are trying to explain “How to measure the results of a brand awareness campaign?“. But first thing, they warn you: “Measuring the results of a brand awareness campaign is not a piece of cake.“