75 Branding Statistics Every Entrepreneur and Marketer Needs to Know in 2023
Successful entrepreneurs know that good branding is a vital factor in determining success. Still, with so much advice and many statistics, it’s not easy to figure out what’s important.
Branding is how we communicate with consumers, differentiate from our competitors, and create a name for ourselves in a world full of startups and great ideas.
A company’s brand identity is much more than the company’s logo or the product or service being offered.
A brand is your company in the present, future, and public perceptions. Essentially, branding is about communication.
Startups and small businesses communicate through company names, logos, and messaging.
It’s becoming increasingly important to have a strong brand, a recognizable name, and a logo that rises above the rest.
This is why many companies develop a comprehensive brand strategy and regularly rebrand their businesses.
Here are 75 essential branding statistics that every entrepreneur and marketer should know:
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- It only takes people an average of 7 seconds to form an impression of your brand, but it takes 5-7 impressions for consumers to recognize your company logo. Use designs and colors that align with your brand’s values. Create a website design that is easy to navigate and provides all the necessary information about your brand. (Psychological Science). And be sure to pick the proper brand architecture model that connects your products, services, and sub-brands.
- First impressions are vital to developing loyalty; Nearly half of consumers are more likely to become loyal to a brand during the first purchase or experience. (crowdspring)
- On average, companies spend 5-10% of their annual marketing budget on rebranding. When considering a brand refresh, research strategies to help achieve your desired brand image and set an appropriate budget and time before rebranding.
- 74% of the S&P 100 companies have rebranded their business in the first seven years. Some companies, including Gap and Mastercard, faced backlash when changing their logo. So, consider whether you need a refresh or a completely new brand identity.
- 60% of consumers avoid companies with logos that have weird or unappealing designs, even if they have good reviews.
- If you trademark your logo, pay attention to the details. In the U.S., a trademark can last forever, but it needs to be renewed every 10 years.
- It’s vital to keep up with the times and evolve your brand. Most companies consider rebranding once every 7 to 10 years with more minor refreshes in between to elevate their visual identity.
- If you’re completely overhauling your brand, the whole rebranding process can take 12 to 18 months from start to finish.
- 64% of consumers form brand loyalty because of shared values. Your brand values help increase relatability and foster stronger relationships with your audience. (Harvard Business Review)
- Branded content is more effective than pre-roll ads (promotional videos before seeing the chosen content). 86% of viewers could recall a brand after viewing branded content than regular pre-roll ads. (Nielsen)
- Colors can help improve brand recognition by 80%. Stay consistent and use the same colors across all branding materials. (Touro Law)
- Color impacts the strength of your branding. Color is one of the first things our brains perceive from a brand, so it’s often the first thing that pulls us in. (crowdspring)
- 80% of male and 76% of female customers purchase products from brands they know. You must increase your brand’s presence in all media to increase brand recognition.
- Customized content increases brand positivity. 82% of consumers feel better about a brand after reading customized content. Invest in creating quality content consistently to improve brand visibility, educate your audience, and share your brand’s values. (Demand Metric)
- 73% of consumers prefer a personalized shopping experience. Personalization is critical to standing out. You can start by sending out customized emails or offering special deals. (Demand Metric)
- Personalization is crucial, as 72% of customers only engage with personalized messaging. (SmarterHQ)
- A consistent presence on all platforms can increase revenue by 23%. Brand recognition is essential to earning more. Your brand must communicate consistently across all platforms, from social media to product packaging. (Forbes)
- 54% of consumers prefer to see more video content from brands they trust. Videos get over 1,200% more shares than text and images. Leverage this by creating videos with content that are short and engaging. (Hubspot)
- 92% of marketers claim that brand authenticity is essential to their brands. Being authentic is critical to separate your brand from competitors. (Stackla)
- Brand equity is a crucial element in your company’s branding strategy. To build valuable brand equity, companies must nurture a genuine rapport and develop trust with their target audience. (crowdspring)
- 46% of consumers will pay more for products and services from trusted brands. The more people recognize and believe your brand, the more they buy from you and the more they’re willing to spend. (Salsify Digital).
- 95% of the top 100 brands only use one or two colors in their logos. Simple and straightforward brand logo designs outlast trends and can last for a long time. (Marketo)
- 60% of Fortune 500 companies use combination logos – a combination of text and illustrations. It’s easier for people to recognize your logo when it includes the brand name and the icon that best represents your business. (Website Planet)
- 60% of companies use nondescriptive logos, and 40% use descriptive logos (that literally communicate the type of product or service the company is marketing). (crowdspring)
- Consumers generally prefer descriptive logos. Descriptive logos reflect a more authentic brand, and consumers find it easier to remember descriptive logos and understand a brand’s product or service. (crowdspring)
- A descriptive logo (that literally communicates the type of product or service the company is marketing) is more likely to improve brand performance. (crowdspring)
- Fully connected customers to your brand are 52% more valuable than satisfied customers, while emotionally connected customers have a staggering 306% higher lifetime value. (P.R. Newswire)
- 82% of people trust a brand more when high-level executives are active on social media. (Dave Kerpen)
- Content marketing generates 3x more leads than traditional marketing strategies. Create actionable and helpful content that people can learn from. (Demand Metric)
- More than 60% of marketers measure content marketing strategy success through sales. (Hubspot)
- The top three challenges content marketers face are finding new content ideas, creating content to drive leads, and generating content that will receive lots of engagement. (Content Marketing Institute)
- Video is the number one content format that marketers will use in 2022. Many businesses have leveraged TikTok’s large platform dominated by millennials and Gen Z and effective algorithms to market. If marketing on TikTok, focus on creating fun and engaging content for your audience. (Hubspot and crowdspring)
- 87% of marketers claim that video has helped increase site traffic. (wyzowl)
- Small businesses have more options than ever when picking digital marketing experts. 57% of digital marketing entrepreneurs started their businesses due to COVID-19. (UpCity)
- 70% of people prefer to get information from blogs than regular advertisements. (Demand Metric)
- Companies that have blogs generate 67% more monthly leads than those that don’t have blogs – and companies have noticed. Blogs account for 434% more indexed pages on Google. (Demand Metric)
- Virtual events yielded the best B2B marketing channel results in 2021 and 2022. And with people having adjusted to their work-from-home setups, we expect it to continue or grow more this year. (Content Marketing Institute)
- B2B content assets such as short articles of less than 3,000 words ranked third in best results for the past 12 months. Content that is concise and actionable is easier to absorb. (Content Marketing Institute)
- 56% of marketers say blogging is effective, and 10% state that it generates a significant return on investment. (Hubspot)
- It’s essential to offer your audience more than just products and services. As many as 81% of marketers actively use content marketing. This speaks volumes of the efficacy of blogging in generating leads and increasing engagement for your brand. (Hubspot)
- Up to 70% of consumers feel closer to a brand because of content marketing. Sharing your knowledge and expertise as a brand can strengthen your relationship with your customers. (Demand Metric)
- How-to articles are the most popular form of content at 77%, followed by trends and news at 49% and ebooks and guides at 47%. (Statista)
- When shared by employees, marketing messages reach 561% more people than the brand itself. This is because people are more likely to trust others than a faceless company. (Scribd)
- 64% of small businesses use email marketing. When leveraging email marketing, avoid appearing spammy and communicate your intentions to people wholesomely. (Campaign Monitor)
- As many as 4 billion people use email daily, and it’s expected to reach up to 4.6 billion by 2025. (Statista)
- 29% of marketers believe email marketing is the most effective way to market, followed by content marketing at 25% and social media at 20%. (GetResponse and SmartInsights)
- Email marketing is more effective than social media marketing at driving sales. 60% of consumers claim to have purchased due to email marketing, while 12.5% claim to consider purchasing an item because of social media. (Optin Monster)
- 21% of sent emails are opened within an hour after delivery. You must catch the attention of the people you’re contacting. Make sure to use curious subject lines. (Get Response)
- 61% of subscribers prefer to receive weekly promotional emails, while 38% prefer them more frequently. Sending out promotional emails once a week helps keep your audience interested and engaged without overloading them with information. (Marketing Sherpa)
- The best days to send emails are Tuesday and Thursday, while the worst are on weekends. So, plan on your email outreaches and aim for the days when people are still in their work modes. (CustomerIO and Optin Monster)
- Email marketing is 40x more effective at gaining customers than Facebook and Twitter combined. So, plan strategically for each of your email campaigns. (Mckinsey)
- 63% of companies that are successful in using automation plan to increase their budget for marketing automation. Hence, you don’t have to waste time sending emails manually. Take advantage of technology to propel your business to success. (Marketo)
- According to Nielsen, 92% of consumers believe in referrals from people they know. Referral programs requiring customers to share with friends and family are the most effective in converting to leads. (Nielsen)
- There is a 37% higher retention rate from people referred by other customers. (22squared)
- 86% of customers would pay more for excellent customer service. Ensure to standardize your customer service process and attend to your customers adequately. (Walker Info)
- 73% of consumers say they love a brand because of customer service. Your customer support team can help provide an excellent customer experience and strengthen your brand. (Curatti)
- Word of mouth is the most effective way to influence people. It affects 20% to 50% of consumers’ purchase decisions. (Mckinsey)
- 28% of millennials won’t try a product if friends disapprove of it. A single bad review could significantly affect your brand’s name. After receiving a bad review, it’s best to address and improve products or services ASAP. (Extole)
- 78% of marketers believe referral marketing produces excellent results. So, your referral program should have substantial rewards and be tailored to fit your audience. (Influitive)
- 74% of U.S. online shoppers check multiple affiliate websites before purchasing. (Cybercrash Worldwide)
- Up to 79% of marketers use affiliate marketing to engage with their customers. Engaging with existing customers helps increase conversion rates and improve online purchases. (Cake)
- People are 4x more likely to buy a product when referred by a friend. (Eric Townsend)
- The search interest for “affiliate marketing” has risen over 200% since 2015. Affiliate marketing is becoming one of the most reliable marketing strategies to ensure profit for your business. (Google)
- Over 200 million brands use Facebook’s free marketing tools to connect with their audience. Facebook remains one of the easiest ways small businesses can promote their products and services online and connect with customers. (Facebook)
- 67% of online shoppers bought a product after seeing it advertised on social media. Ensure to craft a comprehensive social media marketing strategy that is targeted to hit your target audience. (Internet Retailing)
- 54% of people browse social media because they want more information on potential products to buy. Commit to creating fun and engaging content on your social media platforms to boost engagement. (Global Web Index)
- 71% of consumers would recommend a brand if they had an excellent social media experience with them. Use a conversational tone when communicating with your customers through social media. (Ambassador)
- Instagram is still one of the most effective platforms for increasing brand awareness and reaching wider audiences. Over 90% of Instagram users follow a brand. Leverage this and start marketing on Instagram effectively. (Instagram)
- About 2 in 3 people claim that Instagram helps them connect with businesses. Increase your brand visibility by using Instagram for Business to help reach a larger audience and connect with other companies. (Instagram)
- 90% of social media users have communicated with a brand due to its social media presence. (Smart Insights)
- Twitter is more popular with millennials than Gen-Z. While TikTok sits on the opposite end, with Gen-Z dominating the platform. To reach younger audiences, consider marketing on Twitter or TikTok. (Statista and Fanbytes)
- 49% of social media users depend on influencers’ opinions for purchasing decisions. Make sure to find the right influencers who fit your brand and target audience to help promote your brand effectively. (crowdspring)
- Digital professionals claim that Instagram is the most crucial channel for influencer marketing (89%), followed by YouTube (70%) and Facebook (45%). (Mediakix)
- Online communities help strengthen brand trust. This is especially true for women (64.3%) and people aged 18-22 (44.9%). (Taylor & Francis Online)
- 81% of people visit a brand’s website from social media. Make sure to link your brand’s website to your social media profiles to increase traffic and make it easier for your audience to find you. (Visual.ly)
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Like anything else, branding is a massive investment in your company financially and in sweat equity. By focusing on some of these statistics, entrepreneurs and marketers can be more informed when making critical decisions that will affect the perception of their brand. Understanding consumers’ preferences with colors or their use of social channels can help entrepreneurs focus more on the channels with which their audience interacts.
We hope these insights help you start building your brand or motivate you to look at how you can refresh your existing brand. It’s never too late to make an impact!
We regularly update branding statistics. We most recently updated this article on March 8, 2023.
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