11 Branding Stats Crazier Than Miley
*This post has been updated to reflect 2020 trends.
It goes without saying, we here at Action Card love, love, love metrics. We thrive on using data and technology to help brick and mortar businesses with their branding consistency, customer service and compliance issues. Compliance and consistency are no longer fringe investments, they are standard requirements to stay relevant in business today. Don’t believe us? Check out these stats…
U.S. brands are losing approximately $62 billion each year due to poor customer service experiences. – NewVoiceMedia
It only takes a single bad experience to leave a lasting impression. Consumer engagement directly influences the bottom line of every business. A customer-centric experience is likely to promote growth in your business and higher spending by customers.
Customers report spending 20% – 40% more money on brands that have interacted with them on social media. – LYFE
Responding to your social followers and monitoring your mentions can bump up the average spend amount of your customers. They feel a positive connection to your brand and want to stay up to date with your new products and be a supporter of your brand.
78% of social media users who complain to or about a business on Twitter expect a response from the brand within one hour.
This clearly shows how important it is that you regularly monitor online and offline communications to ensure you’re able to respond to every customer promptly. Replying to disgruntled customers or those facing a problem with your service quickly is an excellent opportunity to highlight your customer service capabilities and turn them into lifetime customers.
60% of US millennials expect consistent experiences when dealing with brands online, in-store, or by phone. – SDL
Consistent branding across all channels will set your business apart from many of your competitors. It reinforces your brand identity, creates a clear message to your audience and ensures that your customers know what to expect and how to find you.
First impressions are formed in the first 10 seconds, often less.
Probably our least surprising statistic. We judge brands quickly. Consistency, quality, engaging media and messaging are all aspects that consumers see and consider in seconds when deciding between your brand and others.
65% of 1,000 consumers surveyed said they’ve cut ties with a brand over a single poor customer service experience.
Consumers are very aware they have options. Cultivating a positive customer experience is a must for any company planning to keep their customer base happy. A positive experience also creates trust between your customers and business. When problems arise you can expect them to stick around and work through it with you, instead of giving up and moving on.
It takes 5-7 brand interactions before someone will remember your brand. – Pam Moore
TV, social media, billboards, video ads, radio, and more are all ways you can remind your audience of your brand name and messaging. Rarely do we remember anything about a business or brand after the initial interaction. By planting the seed multiple times across numerous channels, you can create an association that your audience is more likely to remember and re-engage with.
78% of customers expect consistent interactions across departments. – Salesforce
Plain and simple. Consumers want the same information when they speak with different representatives.
American consumers are hit with 4,000 – 10,000 advertising messages every day from all marketing channels. – Red Crow
This shows exactly how important it is that your brand stands out from your competitors and you take the necessary steps to place your brand in front of your audience. One media channel might work well, but it’s almost guaranteed that by sticking to a single channel you’re missing a significant portion of your audience and customer base.
62% of the shoppers in a mass merchant study picked up items on impulse during their trip. – Venngage
Need a coffee? How about a snack to go with it? Engaging branding for your products is an excellent way to influence consumers to see value in an additional purchase.
16% of unplanned purchases were driven by a display the shopper saw while shopping.
Displays that match what your customers are feeling are more likely to influence them to make an unplanned purchase. Product displays, messaging and placement work together to create a feeling of urgency. Think about where your customers are and what they’re doing at that moment, create a display and messaging that fits and you’ve made a sale.