Since the business world is so fiercely competitive, branding is a necessity for businesses to stand out from the crowd.
The idea behind branding a business is the process of bringing meaning to a company/brand to the consumer.
It involves a strategic set of tactics that put a face to the name of a company.
Today, branding is more important than ever for creating and sharing a company’s values, its mission, goals, and personality.
Without branding, there would be no way for society and consumers to know who you are, what you do, and why you exist.
While you may envision a logo, branding goesbeyond a business’ logo.
Let’s look at some branding statistics that will show how important it is and the facts and figures of branding that you need to know.
Key Branding Statistics 2023
- 9 billion people all over the globe easily recognize the Coca-Cola logo.
- 73% of consumers point to a brand’s customer experience as a major factor in making purchasing decisions.
- 62% of consumers will share online deals with their family and friends
- The main elements that drive brand loyalty include cost, consistency, experience, and quality.
- Reading customized content provides a more positive experience for 82% of consumers.
- A Forbes survey revealed that 86% of today’s consumers want authenticity and honesty in brand image and personality.
- 77% of today’s consumers buy things based on the brand name instead of the item name.
- 59% of shoppers would rather buy new products from a familiar brand.
- A whopping 73% of consumers want to deal with brands that use their preferences to personalize their customer experience.
- A Reuters report shows that 82% of investors think name recognition and brand strength are drivers for investment decisions.
Detailed Branding Statistics 2023
We will focus on some detailed statistics for this section of the resource, followed by small business branding and then employer branding.
You will learn a lot about business branding throughout this article.
1. 9 Billion People All Over the Globe Easily Recognize the Coca-Cola Logo.
Coca-Cola has been around since 1886. It was originally formulated by a pharmacist, John Styth Pemberton of Atlanta, Georgia, USA.
Pemberton had a partner, Frank M. Robinson, who was well-versed in all things marketing and branding.
Once they had laid the groundwork for branding Coca-Cola, Asa G. Candler used his skill and vision to take Coca-Cola to its first milestone of being available in every state.
Initially, Coca-Cola was only a fountain soda offering in those old quaint soda shops from days of yore.
Bottling didn’t start until 1894. Then, the bottle was redesigned in 1915 with the classic bottle design we know today.
Even the famous font design from 1940 has endured the test of time. Only the shape of its logo has been reinvented over the years.
This should give you an idea of just how vital a solid branding strategy is to a business.
2. 73% of Consumers Point to A Brand’s Customer Experience as A Major Factor in Making Purchasing Decisions.
Nearly three-quarters of consumers cite customer service as a priority for making buying decisions.
However, fewer than half (49%) of American consumers say that businesses deliver good customer service nowadays.
Furthermore, 43% of consumers said they would pay more for more convenience, and 42% would pay more for a welcoming and friendly customer service experience.
A significant 65% said that a positive experience with a brand is more influential than the best advertising.
What really matters to 80% of today’s consumers is convenience, speed, and friendly, helpful, and knowledgeable services.
That is what 80% of American consumers consider a positive customer experience.
Offers for discounts and deals have a major impact on your brand and business.
With 62% of consumers sharing online deals with friends, you can grow your brand’s exposure.
When the offer for a deal is significant and irresistible, over 60% of consumers will freely and intentionally share the deal with their family and friends.
For branding purposes, offering great appealing deals can boost your brand exposure and awareness fast.
Moreover, 81% of consumers have more trust in their family and friends over advertising or businesses.
Therefore, word-of-mouth in any form is a great way to improve your business branding.
4. The Main Elements that Drive Brand Loyalty Include Cost, Consistency, Experience, and Quality.
Brand loyalists have used these words the most to describe their favorite brands.
This is how they feel about them. It’s also why they continually return again and again to make purchases.
Moreover, according to brand statistics and brand loyalists, experience is more important than price. Also, brand loyalty rises as household incomes increase.
For instance, those with a household income of $150,000 or over are more apt to enjoy loyalty to a brand than those with incomes of less than $35,000 by 32%.
Furthermore, 42% of consumers with children are more likely to be loyal to a brand than 36% of non-parent households. So, having children changes the branding game.
5. Reading Customized Content Provides a More Positive Experience for 82% of Consumers.
Regularly publishing and sharing meaningful content plays a significant role in positive branding.
According to brand awareness statistics, customized content made 82% of consumers feel more positive about brands.
Customized content is also effective because it conveys a company’s values to its current and potential consumers.
When a consumer is left with a positive brand content experience, people are more apt to follow the brand and buy their services or products.
Additionally, 70% of consumers say they feel closer to a business after they have engaged with their custom content.
This is what a solid marketing strategy can do for a business, especially when they include branding.
6. A Forbes Survey Revealed that 86% of Today’s Consumers Want Authenticity and Honesty in Brand Image and Personality.
According to Forbes, 86% of consumers desire an honest personality and authentic brand image, especially when it’s related to digital trends driven by social media.
What this should tell us is that branding can no longer be an afterthought in your marketing strategy. Instead, it should make up a large part of your overall marketing plan.
Business branding is the main fuel driving business exposure and generating sales.
If you need more convincing, 77% of modern consumers buy things because of the brand name. Also, 82% of investors make brand recognition a priority.
7. 77% of Today’s Consumers Buy Things Based on The Brand Name Instead of The Item Name.
We will expand on the 77% of consumers that buy things based on a brand name rather than the product name.
For instance, people often refer to Kleenex when they are discussing tissues. Also, Scotch tape when they are talking about tape.
Do you see how branding matters?
There are tons of tissue brands on the market, but many times, people ask for a Kleenex, not a tissue, regardless of the brand name on the product.
How about tablets?
Do you call them tablets or iPads, whether it’s an actual iPad or an Android tablet like the Samsung Galaxy Tab, which has made a great name and built a brand of its own.
8. 59% of Shoppers Would Rather Buy New Products from A Familiar Brand.
Once a brand has developed a trusting relationship with its customers, they can easily launch new products based on older, successful branding efforts.
In other words, once you establish your brand as honest and authentic, it’s easier to market to your customers.
Besides the 59% of shoppers who prefer to buy new things from a trusted brand, 21% claimed they did so because it was made by a favorite brand.
Moreover, 38% of mothers are more apt to buy from brands that their friends and fellow moms like on Facebook.
Did you know that 77% of brand conversations that occur on social media networks come from consumers looking for help, information, or advice about brands and products?
9. A Whopping 73% of Consumers Want to Deal with Brands that Use Their Preferences to Personalize Their Customer Experience.
Did you know that the average individual gets at least 100 emails per day?
Today’s businesses cannot send out generic, cookie-cutter emails if they want to get noticed.
Email marketing is more than just sending random emails. It’s a well-thought-out strategy for personalized experiences.
According to statistics, 60% of consumers are fine with brands using their data to send emails that are custom tailored to their interests.
Let’s look into this a little further. Studies show that 78% of consumers are more apt to become repeat customers when brands use personalized email offers.
Another 72% of consumers prefer email communications from brands.
10. A Reuters Report Shows that 82% of Investors Think Name Recognition and Brand Strength Are Drivers for Investment Decisions.
We have already learned that consumers prefer to buy from trusted and recognizable brands.
Investors may interact a bit differently, but they still consider name recognition and brand strength before they may make investment decisions.
Interestingly, only 18% of today’s consumers said that they would perceive a brand name change in a positive way.
So, even though the brand name is reputable, if they changed the name, most consumers would be resistant to that change. That’s only a name change.
What should you take away from this data? Brand recognition and strength work in tandem for one thing.
For another thing, consumers, and likely investors, are resistant to brand name changes. Once you build brand name recognition, avoid making big changes.
(Global Banking and Finance)
11. In 2017, McKinsey & Company Research Found that 61% of Consumers Were More Apt to Purchase from Organizations that Provide Unique Content.
Feel-good content plays a role in the customer experience, and for driving attraction to a brand.
However, unique, one-of-a-kind content motivates them to make buying decisions.
While this comes from research conducted in 2017 by McKinsey & Company, it’s still true in the digital age.
According to data from Hubspot, online shopping has seen a significant rise between 2016 and 2021 from 209 million to 230 million.
Besides unique content, another 61% of survey respondents said that they would also be more loyal to a brand if they are invited to become a part of their content creators or customer advocate communities.
The more statistics we share, the more we can see the importance of proper branding strategies.
Building relationships through communities around your brand makes them feel connected.
(McKinsey & Company, HubSpot)
12. Consistency in Branding Presentations Across All Social Platforms and Venues Will Boost Revenue by Up to 23%.
It’s well-known that branding is more than just having the proper logo design. When companies are advertising, promoting, and marketing their brands, consistency plays a role in success.
You would be surprised at how vital it is to use the same fonts, color schemes, general aesthetic, and tone for branding your business.
Brand consistency statistics have shown that it’s crucial to be consistent with every detail of your branding presentations. It can boost revenues by up to 23%.
Therefore, besides matching your logo to your business’ personality, core values, and overall identity, choose the details wisely.
Your logo needs to be uniquely you, while showing your company’s personality.
13. In 2018, Statista Revealed that Consumers Choose Their Smartphones According to The Brand Name by 63%.
Consumers are mostly brand loyalists in that whenever they find a brand they like, they usually stick with it.
Smartphones made the top of the list (63%) related to where brands matter the most.
Clothing and shoes made a good showing at 53% and second to smartphones.
Toys and baby products only received 18% of where brands matter most. Moreover, TVs and HiFi was third in line with 48%.
Other products where brands matter to consumers include vehicles (47%), appliances (44%), food and non-alcoholic beverages (42%), cosmetics and body care (39%), alcoholic beverages (36%), and household goods and furnishings (25%). Overall, brand exposure matters.
14. A Massive 72% of Top Brand Names Are Named with Acronyms or Made-Up Words that Aren’t Pronounceable.
You might think that a brand name needs to be something people can pronounce to be successful.
However, statistics show that the best brands have names that are acronyms or made-up words that aren’t pronounceable.
So, branding success doesn’t even have to consist of real words.
That said, there are dissenting opinions about having a pronounceable brand name.
One of the primary rules of branding technical qualities includes the factor of being easy to spell and pronounce, according to How Brands are Built.
However, with research that shows 72% of today’s top brand names are not, in fact, pronounceable.
While Google is pronounceable, it’s a made-up name that has become a household necessity.
A brand name made from an acronym like CVS (Consumer Value Stores) isn’t something you pronounce, but something you spell. Did you know what those letters represent?
(LinkedIn 2, How Brands are Built)
15. It Takes 5 to 7 Impressions Before People Remember a Brand Name.
When you’re building your own brand, you need to be living and breathing it daily.
Take time to create fonts and color schemes for a logo that fits with your brand’s identity.
As we already covered, being consistent across all the platforms you use to promote your brand is essential.
Being consistent is how you get people to notice you over 5 to 7 impressions.
Your brand name and logo needs to be put out there before people can start to recognize it.
The reason it takes so many impressions before you achieve brand recognition is because there are so many brands in the world. The competition is literally fierce.
Naturally, it’s recommended that you use social media channels to boost your brand to obtain consistent impressions.
Make sure you use consistent, detailed, and unique content.
(Pam Marketing Nut (Pam Moore))
16. During Holiday Seasons, 44% of American Consumers Tend to Buy Gifts According to Their Own Brand Loyalty.
While the 2017 study is no longer available online, the conclusion drawn from it is still valid.
During the holidays, 44% of American consumers buy gifts for others from their favorite brands. This is both an example of brand loyalty and word-of-mouth advertising.
Brand loyalty spreads when people buy things to give as gifts from their favorite brands.
In other words, consumers can be the best sales people for a brand. After all, we know that people trust their friends and families more than businesses.
Another study that is no longer available online from Gartner revealed that in 2017, one-third of consumers have a brand name in mind before they shop.
(Kettle Fire Creative)
17. Brand Logos Have only 10 Seconds to Make a First Impression on Potential Customers.
When creating a brand logo, consider the fact that it takes 10 seconds for potential customers to form their first impression based on the logo.
That’s a very short time frame to work with, but it means your logo needs to grab attention immediately.
There is simply too much competition to ignore this factor of branding. There is also a fine line between being creative and over doing your logo.
Your brand’s logo has only a short window of opportunity for consumers to form an opinion of your company.
Your logo represents your brand, which in turn, represents your company. That’s something to think about when you’re creating your brand logo.
18. Supply Chain Transparency Is One of The Aspects that Drives Loyalty to A Brand, According to 94% of Surveyed Consumers.
How important is supply chain transparency to consumers?
According to a study, 94% of consumers will engage in brand loyalty when brands are transparent about their supply chain. It’s at least 94% important to brands.
Today’s consumers are smart and savvy, so they want to know more about brands before they engage or buy from them.
Therefore, visibility along with transparency are vital to consumers.
Another 39% of surveyed consumers said that they would be willing to switch brands if they found a brand that’s even more transparent.
The Label Insight (Nielsen IQ) study proves that supply chain transparency, accountability, and traceability matter to consumers.
(Supply Chain Brain, Natural Products Insider, Inc., BBB)
19. 77% of All B2 B Marketers Cite Branding as A Vital Part of Business Growth.
Is branding important?
According to 77% of B2B marketers, building a solid brand is the key to a company’s growth.
Another 75% of companies cite brand awareness as a top priority.
How do people recognize brands?
The four main ways to gain brand recognition is through your logo, visual style, unique voice, and brand color. This is how people learn to recognize a brand.
The brand logo is cited as the number one most recognizable identifier of a brand, followed closely by the visual style.
This has much to do with the fact that humans are visual creatures.
20. Brands that Are Consistently Presented Are 3.5 Times More Apt to Increase Their Visibility to Customers and Consumers.
The simple truth is that when consumers are made aware of your brand, they are more likely to buy from you.
That’s why we stress consistency in these business branding statistics.
Does it matter what kind of business you’re branding?
It does not matter.
Business branding is vital for profit and nonprofit organizations across all industries and causes. Branding is an essential regardless of how large or small your business is.
Even freelancers that provide services like writing, graphic design, logo design, etc. need to brand themselves. This is how today’s business world works.
(Demand Metric, LinkedIn)
21. Music Can Boost Brand Favorability by Up to 46%.
Remember how we discussed the short span of time (10 seconds) brands have to make an impression?
Well, the human brain can hear and interpret sounds quickly, within 0.146 seconds.
Music boosts emotions and attracts attention faster when used alongside a brand’s advertising.
Think about how many TikTok videos or Reels you watch with music and without.
Do you watch those with music longer? Most people do.
Additionally, music enhances recall by 81%, and brand awareness by 26%.
Branding statistics show that ads with music improve ad engagement by 4 times across social and search ad campaigns.
Did we say that music matters to branding?
(AudioGo, Business News Daily)
22. 13% of Consumers Claim They Will Pay 31% to 50% More for Services and Products if Your Company Has a Positive Effect on The Planet.
You know the importance of brand impressions, but you can also boost your brand awareness by being charitable, or by helping the planet in various ways.
Today’s consumers are mostly made up of Millennials, and the Gen-Z crowd is upcoming next.
That’s not to say that Gen-X, Baby Boomers, and the Silent Generation aren’t still paying attention to the planet.
Believe it or not, these generations have also promoted environmental concerns and being helpful to others in need.
Now, there are several generations that will pay more when they feel like their hard-earned money is going towards a good cause, while also getting a quality product or service.
That’s a win-win moment.
(LinkedIn, Consumer Thermometer, Branding for the People)
23. When A Brand Has Full Transparency, 39% of All Consumers Are More Willing to Buy from Them.
Patrick Moorhead, the chief marketing officer at Label Insight in Chicago said that 39% of consumers will change brands when they find another brand that offers total transparency.
The consumer market today hungers for information from trusted and reliable sources. Therefore, when a manufacturer is transparent about their products, they are given priority by consumers.
Since the media is no longer considered a reliable resource to modern consumers, brands need to get their stories out there.
It’s very important to pay attention to this. The days of Public Relations (PR) that we thought were virtually gone are coming back in full force.
(Food Business News)
24. Color Makes a Powerful Statement for Boosting Brand Recognition by 80%.
Consider color when you think of your favorite brands. For instance, Breast Cancer Awareness (pink), IBM (blue), UPS (brown), etc.
Don’t you think these highly recognized brands make an impact simply with the colors they use in their logos, ads, equipment, and everything they promote?
Color is powerful, especially on websites and social media where you need to convey and portray your brand. You can’t be everywhere all the time, but your logo and branding details can.
According to Adam Alter, NYU professor, “Color sells, it persuages, it cajoles.” Isn’t that what every company wants to do to build their customer base?
So, consider colors when you’re creating your brand, logo, marketing, and all aspects of your growth strategies.
25. 68% of Men Say They Have Felt Emotional About a Business or Brand Compared to 64% of Women.
Emotional branding is a concept where businesses build their brands by evoking consumers’ emotions.
Marketing professionals know how to create content that appeals to basel needs, emotional status, ego, and aspirations.
Is emotional branding a big deal?
Technically, it is very important.
Appealing to consumers’ emotions is how you build a relationship without being there in person.
It promotes human connections, positive brand recognition, loyalty, retention, and uniqueness from other brands.
Emotional branding works because it’s appealing to human nature. Emotions are experienced at conscious and subconscious levels.
Good, bad, or indifferent, people are prone to making buying decisions based on emotions. The reasoning part comes after the purchase in most cases.
(Customer Thermometer, Bow-Wow, Biz Report)
26. 33% of The Globe’s Top 100 Brands Use Blue in Their Brand Logos.
We’ve covered the power of color in brand logos and other assets. Blue is a color used by a third of the world’s top ranked brands.
Speaking of brand logo colors, red is the second most-used color with 29% of the world’s top brands using it in their logos.
Grayscale and black are used in brand logos by 28% of the biggest brands in the world. Gold or yellow is used in 13% of top brand logos.
A whopping 95% of the planet’s biggest brands use one or two colors in their logos. Only 5% of top brands use over two colors.
Blue is considered a professional color that promotes trust, so it’s no surprise it’s the top color used by the big name brands.
The intensity, strength, and passion that red evokes is by its use in logos.
(Design Buddy, Design Buddy 2)
27. Moms Are More Apt to Buy Services and Products from Brands that Are Liked by Other Women on Facebook, by 38%
These brand statistics tell us that moms trust other women on Facebook enough to buy from brands on the platform they have liked.
More than a third of moms trust other women and make buying decisions based on brand likes.
This ideal proves how communities promote rapport, which is the very foundation of influence.
Consider how other women on Facebook can influence moms and other women when making buying decisions.
For example, anything dealing with makeup, body image, weight, and other topics are where women trust women.
If women are using a specific brand for getting rid of stretch marks, moms are going to get on board with that. This shouldn’t come as a surprise.
(LinkedIn, Crowdspring, Invesp)
28. Over Half of All Companies Depend on Their Content Marketing for Branding Strategies.
Over half (53%) of businesses invest money and time in content marketing.
Does content marketing enhance their brand strategy?
It’s important to know the difference between a content marketing strategy and a brand strategy.
Technically, a content strategy is part of the brand strategy of a business.
They are not exactly one and the same, but the two concepts work in tandem for overall business marketing success.
The brand strategy concept is the big picture of your brand, its purpose, its aspirations, and how it’s viewed among consumers.
The content strategy ideal is how you support your brand strategy.
That’s a very simplified way to describe it, but you can always learn more online.
(PR Newswire, LinkedIn 3)
29. 53% of Consumers Say They Would Like to See More Video Content from The Brands They Like and Follow.
According to HubSpot’s branding statistics, consumers pay more attention to video content than other media.
Not only do they pay more attention to video content, they want to see more of it from their favorite brands.
According to the 2018 survey, consumers viewed videos the most by 62%, and skimmed videos by 38%.
News articles came in second for thoroughly consuming at 61% and skimming at 39%.
Additionally, 53% said they wanted to see more videos in the future from their favorite brands, and 46% want to see news articles.
Email content came in at 23%, and podcasts at 9%.
Small Business Branding Statistics 2023
With essential statistics aside, we can focus on small business branding facts and figures in this section.
This will be a shorter section of data, but it’s important to all small business owners and marketing professionals.
30. Facebook’s Q2 Report from 2018 Revealed that More than 80 Million Small and Medium Size Businesses with Pages Are Using the Platform Monthly.
Over 80 million small-to-medium-sized businesses (SMBs) with Facebook pages use this social media platform actively each month.
Facebook’s Sheryl Sandberg said that six million advertisers come from those SMB pages.
These figures are from 2018, so we can only imagine what they are now.
When more reports come out, we will update the article.
What this 2018 data tells us is that there are so many small businesses taking advantage of the Facebook social aspect to encourage brand awareness and build relationships.
For small businesses, Facebook is a great way for them to promote their offerings, provide customer service and support, and stay in touch with their customers.
A great perk for small businesses also includes getting needed feedback from their customers.
(Facebook, Inc 2018)
31. Small Businesses Are Investing 73% of Their Marketing and Branding Efforts on Social Media Channels.
Out of all six marketing channels used by small businesses, social media is where they expect to build the most brand awareness.
This comes from studies regarding the 6 digital marketing avenues used by small business to gain brand recognition,
Small businesses invest in social media and website content equally (73%) to promote their brand and to gain exposure.
Email marketing accounts for 57% of small business efforts, and SEO 49%.
Video marketing is lower than it should be at 34%, and content marketing is just below that at 32%.
Notice how small businesses are prioritizing social media over SEO and content marketing.
While video marketing and social media marketing are amazing methods for getting brand exposure, businesses should also give some focus to the written word, which is still important.
32. Only 34% of Small Businesses Are Investing in Video Marketing.
With video marketing on the rise, and more consumers preferring it, small businesses are missing out on the perfect opportunity to find their place among their competitors.
However, only 34% of small businesses are using video marketing in their overall marketing strategy.
What can videos do that images and written content can’t.
Videos provide the content creator to explain information faster and provide better understanding of the business’ products and services.
These branding stats and facts came from The Manifest’s 2022 Small Business Digital Marketing Survey, which included 529 small American businesses.
According to more results from that survey, only 27% of small businesses intend to invest more in video marketing.
(LinkedIn 4, The Manifest)
33. In 2019, 95% of American Small Businesses Intended to Spend More on Digital Marketing.
In 2019, small businesses were committed to spending more on their digital marketing efforts.
Based on the statistics we found, they did, they have, and they are.
In 2019 digital marketing arenas where small businesses planned to invest in more included social media, website, SEO, video, and content marketing.
Small businesses have been taking advantage of the benefits that come from digital marketing.
However, for some reason, they haven’t gotten on the video content bandwagon as much as they should.
We cannot stress enough how more of today’s consumers are more interested in video content than another other form of digital content.
That doesn’t mean to reduce efforts in areas and increase video efforts, but at least increase the video marketing efforts.
(Medium, The Manifest)
34. One 2017 Study Showed that 64% of Consumers Made a Purchase After Viewing Online Videos.
If you’re a small business looking to boost your brand recognition, image, and loyalty, use video content on social media channels.
Some examples of video types for social media networks include Instagram Reels, Instagram Stories, and TikTok videos.
Short-form videos you make yourself and share are a good start, but short branded ads can take your branding game up a few levels.
Also, do video product demonstrations, unboxings, and get influencers to review your products.
All of these types of videos can motivate people to buy from you, while giving you new brand awareness.
The 2017 study that showed how 64% of consumers buy after watching videos has evolved a lot in 2022.
Employer Branding Statistics 2023
Employers need to engage in branding for finding and retaining talent as much as they do for branding their business.
Let’s see what all this means.
35. 50% of Job Candidates Said They Wouldn’t Work for A Business with A Poor Reputation, Even if Offered a Pay Increase.
This is one of those statistics that prove that money isn’t everything.
One survey showed that 50% of candidates wouldn’t work for a business that has a bad reputation, even for a raise in pay.
Another 92% said they would think about changing jobs if they were offered a position with a company that has a stellar reputation.
These figures show that company reputation matters to potential and current employees.
Also, it reveals that a solid employer brand can help to decrease per hire costs by about 50%.
A company with a negative reputation can cost 10% more for each hire. The positive or negative impact matters.
36. Social Media Is the Biggest Area of Investment for Growing Employer Branding.
According to a Jobvite recruiter report from 2018, recruiters need to be marketers if they want to attract viable talent.
Recruiters claim that the top investments needed for employer branding include social media (47%), company career website (21%), and advertising (12%).
In case you didn’t already guess, LinkedIn is the most-used social network for recruiting talent.
Recruiters are marketers using social channels like LinkedIn (77%) and Facebook (63%).
That said, the 2017 figures showed that LinkedIn was used by 92% of recruiters, which shows a large decrease for 2018.
Where Instagram was once not very popular among recruiters, today its popularity among job seekers is growing, and recruiters are noticing.
37. Over 50% of Job Seekers Discontinue Job Applications if They Read a Negative Employer Review.
Online employer reviews can have a negative impact on talent recruitment.
In fact, 55% of job seekers who have read negative reviews will choose not to apply to a job.
This includes those who start an application only to abandon it.
If you’re wondering how many of these job seekers have shared negative reviews of a former or prospective employer, that number is 1in 3 of them.
So, one-third of job seekers share negative reviews about a prospective or former employer.
The takeaway here is to read reviews, but be careful about taking them all to heart.
Some reviews may be written by vengeful former employees, or people who just don’t like the company.
(Influencer Marketing Hub, Career Arc)
38. Companies with Poor Branding Are Known to Pay Nearly 10% More in Wages.
The main reason that employers with bad branding pay close to 10% more in salaries is because of their poor reputation.
They cannot hire anyone without higher pay, so their poor reputation could get you more money.
It depends on if you’re willing to deal with why they have a bad reputation, the job, and the pay.
It costs these companies more to help attract talent. This is why weak or bad employer branding impacts companies.
If a company falls into this category and has problems hiring or keeping workers, they need to make some changes.
Only by improving their brand reputation can they begin to recover any losses. That could take some years.
(Recruiter, Smart Dreamers)
39. Companies Can Save up To 50% in Costs per Hire with Great Branding.
In contrast to how poor branding can cost a company more per hire, those with great branding can save up to 50% per hire.
So, employer branding statistics are right when they reveal the importance of good branding. Your brand reputation is your first impression and at the heart of your company.
When you have great branding, you can attract great talent, which saves you over the long run, especially in employee retention.
Also, you save time and money in training new employees because you attract better talent.
Good job candidates will flock to you when your branding is right.
(LYFE Marketing, LinkedIn Talent Solutions)
40. 55% of The World’s Recruiting Leaders Have an Energetic Employer Branding Strategy.
Proactive employer branding strategies involved recruiting leaders with insights and a go-getter attitude.
It’s these recruiters that give a company a good brand name that attracts good talent.
Today, more than half of the recruiters over the world are working diligently to promote their work environments and cultures as desirable.
That’s one way to drive interest from top talent.
Once a recruiter lands a great talent, it’s up to the company to keep that momentum going to retain the best of the best.
( LinkedIn Talent Solutions)
How Important Is Branding to Business?
Would you consider branding important if you knew that 77% of marketers think that branding plays a vital role in future growth?
These marketers know it’s critical to create a business brand that consumers or employees can relate to.
Business branding is essential to business growth.
Do Brands with Blogs Get More Exposure?
Just like marketing any product or service, blogs enhance exposure.
Brands that have an on-site blog get 67% more leads than those that don’t blog.
It’s well worth hiring someone to write blog posts for your company website.
Blogs encourage conversations, which encourage engagement, which results in more leads.
What Can Building a Strong Brand Do for A Company?
LinkedIn sources tell us that a strong brand saves money for a company.
Companies with strong employer branding often experience a 43% reduction in hiring expenses as compared to companies with weak branding.
A strong brand builds brand recognition and draws attention to consumers.
If you want to enjoy the benefits of customer loyalty, you need a strong brand.
Strong brands get amazing word-of-mouth advertising from their customers.
These are just a few things that come from building a strong brand, according to branding statistics.
How Do You Build a Brand?
The clues to building a brand are found throughout this article, but we will break it down here.
So, you will recognize some of this content.
Your first step is to define your company’s values.
Once you do that, you need to convey them succinctly to employees so they can convey your message.
After you have your whole company on board with your branding strategy, it’s time to spread it around.
Part of your branding strategy will include writing a slogan, choosing your brand colors and fonts, designing a brand logo that fits your values and personality, and finally applying your branding details to all this surrounding your business.
If you have read this full article, congratulations! You have virtually everything you need to start building your brand.
We recommend that you save the article because it’s so dense and comprehensive you will want to refer to it more than once.
If you’re a job seeker, you should have a better idea about what to look for in a company.
If you’re an employer or a recruiter, you have plenty of information to improve and build the company brand that will save time and money across the board.
The statistics about branding in 2023 that we shared with you can help you build a better brand for your business.