Brand visibility. It is something that can help your business and in some cases, can impact the survival of your business.
Almost 20% of businesses in the United States fail within their first year. With that in mind, most businesses just starting out are looking for anything they can latch onto to keep moving forward.
This is why brand recognition is key. It can help a business get past struggling times and it can also help propel that business into the future.
Why does this matter to the success of a business? These are some of the biggest keys that you need to keep in mind.
Customers Thinking About You
So, what does it mean to have brand visibility? Well, the most important thing that this means is that people know you exist.
One of the only things worse than having negative publicity is to be completely irrelevant. That is a sign that no one cares about you or you are just not putting in enough outreach to have people know that your business exists.
So, when you have brand visibility, this means that customers are at least considering your product or service when you are thinking about buying something.
Let's use Bud Light beer as an example. It is one of the most popular beer brands in America and that product has a ton of marketing and a ton of commercials.
What this does is it keeps the image and the name of their beer in people's minds. So, the next time that they go to a bar or go a liquor store, it is automatically something that the person might consider buying to drink.
While your company likely does not have the budget of Anheuser-Busch, you can still achieve this even in your local community. You can get more involved with the community, have signs around the neighborhood, or even develop a social media presence.
Regardless of how you do it, you want people to have your business as part of the equation when they are deciding if they want to buy a product or service that you offer.
Customer Loyalty
Another thing that brand visibility does is it can help develop customer loyalty for a business. As a business, you need to find a way to get your foot in the door in the minds of potential customers.
Once you do that, you need to find a way to keep them there. If you offer them a decent product or service, this should not be too difficult for you.
About 88% of consumers say it takes three times for customers to develop loyalty to a company. So, as long as a company continues to treat a customer well, it should be able to establish that loyalty with them.
This is very important for the survival of your business for two reasons. The first reason is that it is a lot more expensive for your business to find a new customer than it is to retain an old customer.
The second reason is word of mouth. If you have a customer who is loyal to your company, they are likely to tell their friends and family about your company. If a customer does that, then that can help spread the word about your business to new customers.
Brand Equity
Something good that can happen to your company when you develop brand visibility is that you start profiting off of it. This can happen in a few ways.
A direct way that this can happen is if you sell merchandise with your company's logo. Think about it. If you sell things like a coffee mug, a hoodie, or a t-shirt, people that like your company and what it stands for may be willing to buy it.
Doing this not only helps your company gain a profit but also helps your company develop even more brand visibility for more future customers to get exposed to.
Another way that this can happen is by customers being more open to buying new products. It may not even be a product that they want that badly. They could just be excited that your company is coming out with something new and they are willing to buy it.
For example, let's say you are a brewery that made its name off of a famous IPA. Well, you could announce that you are developing a new lager and those loyal customers may be willing to stock up on the new beer that you have out there.
Credibility
Finally, having brand visibility helps your company develop credibility. People trust references that they know. Those references are likely to come from customers that already like your product.
Having a name that people already know makes them feel safer and more secure. With that in mind, they may be willing to give your products or services more of a chance compared to a company that they have never heard of.
Having credibility essentially means that you are validated in the minds of customers.
Get More Brand Visibility
These are just a few of the benefits that your company can experience if it has enough brand visibility. It helps you get credibility, customer loyalty, and brand equity, and it makes potential customers think about your product.
If you have this, you should start seeing more new customers in no time.
Are you ready to improve your brand perception? You can start by attending our expo. Get your tickets here today.
