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Brand awareness is the ability of a consumer to recognise one brand over other brands. In other words, how consumers identify your product by its attributes and design elements.
A product should be recognised without even using its name if brand recognition is done right. The goal is to get potential customers to recognise the product instantly without requiring much effort. Can you think of a popular fast-food restaurant or a technology company?
A brand’s value is directly connected to its presence in the memory of consumers. Quite simply, if a customer remembers a brand, he or she is likely to buy that brand. If they don’t remember it, they will buy the alternative which they are familiar with. Thus, for a brand, it is important to set itself in your customers’ memories.
Brand awareness is hugely important in growing your business, at least initially. Introducing potential customers to a product or service in the right way matters. Just as it works with meeting new people, first impressions also count with brand awareness. your extent to which a product is recognised lies with its brand awareness, which can make or break the brand’s profitability.