Expect 2021 to be a competitive year for entrepreneurs. Businesses will be on top of their game, wanting to restore sales after reeling from the effects of the 2020 pandemic.
Branding will play an important role in the recovery effort.
If you find yourself in the same boat, you might want to pay attention to this list of branding statistics for 2021. We’ve compiled facts and figures that could help you draft a comprehensive marketing plan for your business.
Why don’t we start with some branding statistics highlights?
Branding Statistics – Editor’s choice
- Emotionally Connected Customers Have a 306% Higher Lifetime Value
- Most Users Wait 6 to 10 Seconds Before Abandoning Your Page
- Small Businesses With Blogs Get 126% More Lead Growth
Table of Contents
Let’s first look at some general tips on how you can grow your following organically. Keep these in mind as you develop your branding strategy.
Stackla surveyed 2,000 adults living in the US, UK, and Australia. And as it turns out, 86% of them factor in authenticity when deciding which brands to support.
In that same survey, only 57% of the respondents felt that brands are not as authentic as they make themselves out to be.
A majority of consumers find that a brand’s impact on society can drive sales. Simply put: People will support brands that reflect their own values.
Other reasons for trust include growing concerns about product experience (62%) and growing concerns about customer experience (55%).
The same report states that 53% of consumers want brands that get involved in at least one social issue that has nothing to do with their business.
(Motista via PR Newswire)
In 2018, Motista collected data from 100,000 customers over three years (2016-2018). The report says that the more a customer feels connected with a brand emotionally, the more they spend. Some going for twice as much as the average customer.
Their lifetime value is higher at 306%, they tend to stick with the brand for an average of 5.1 years, and will recommend the brand at a higher rate at 71%.
(Expedia Affiliate Network via Globe Newswire)
A survey conducted by Expedia Affiliate Network in 2018 reveals that discounts and coupons are still effective. 61% of respondents rely heavily on these types of promotions.
Meanwhile, 52% of the respondents use awarding points and miles.
(Content Marketing Institute)
If you’re a small business and you don’t have a blog, you might want to reconsider. According to the Content Marketing Institute, businesses with blogs get 126% more lead growth than those who don’t have one.
67% of small businesses are willing to pay $500 for a good logo design. But there are others who wouldn’t mind spending more. 16% will shell out $1,000 to get a great logo for their company.
There are also small businesses that prefer making their own logo. Around 50% of small businesses have no problem creating their own from scratch.
When potential customers land on your website, they only have 1/10th of a second before they form an impression. At that time, they’ll decide whether they’ll stay or leave your domain.
A person will look at your color scheme, site structure, spacing, symmetry, text, font, along with other factors.
(KISSmetrics via Neil Patel)
30% of users will wait six to ten seconds before they abandon a page. 20% are willing to stay more than 20 seconds.
16% will not go until after 15 seconds of waiting. Another 16% said they will only stay for one to five seconds. 15% are more forgiving and will stay around for 16 to 20 seconds.
3% have very little patience and would leave if a page won’t load after one second.
(KISSmetrics via Neil Patel)
If your site does not work as intended, there’s a 44% chance that the dissatisfied user will tell his or her friends about it.
Also, every 1-second delay as your page loads will decrease your chance of landing a sale by 16%.
If you want to maintain a good reputation online, then you need to take a really good look at your page load times.
(Amazon Web Services)
Not only does having bad UX contribute to ineffective branding, but it also impacts your revenue. 27% of users abandoned an order because the checkout process is too complicated. 35% left because they needed to create an account to continue.
You can address all of these issues through better UX design practices.
According to Demand Metric, content marketing generates three times more leads than traditional marketing per dollar spent.
Also, 70% of people would prefer to learn about a company through articles than they do through advertisements.
Branded content is 22 times more effective than your standard display ad. A reader would spend around 36 seconds going over written content. That’s way higher than the 1.6 seconds that users spend on a banner ad.
Users don’t really engage banner ads these days. They have grown to ignore ads and can block them off completely. There’s barely any engagement.
Users can recall branded content better when compared to pre-roll ads. Users are able to remember brands 86% of the time when going through branded content. With pre-roll ads, the number drops to 65%.
Even the younger generation don’t like ads. But there is an exemption. If the ads come from online personalities that they like, 58% of them will suffer through the ad as a show of support.
80% will watch a 15-second pre-roll ad. 53% will support a one-minute spot. 87% of millennials don’t mind ads if they’re demonstrated by the influencer within the video.
If you’re going to add advertisements on your page, you want to make sure that it blends well. 79% of users prefer native advertising to banner ads.
Many people simply find banner ads to be intrusive and are therefore an unwelcome sight.
Content marketing is great for branding but a lot of marketers have trouble measuring ROI. That means they’re unable to gauge the value that content marketing brings in.
That makes it harder for them to justify their plans and strategies to higher-ups. Two out of five marketers see content effectiveness measurement as their biggest challenge. Their saving grace is that content marketing is 60% cheaper than all other types of marketing.
Out of all the respondents that SEMrush interviewed, only 77% had a content marketing strategy. And 38% of that deemed their strategy as average. Only 9% evaluated their strategy and said that it’s excellent.
Marketers aren’t confident about their content branding strategies. Perhaps it’s due to the ROI problem we mentioned earlier. So there are people who aren’t even sure if their strategy works or not.
BuzzStream launched a survey and the majority of its respondents (50%) said they only follow one to four brands on social media. 26% said they followed nine brands, 22% follow more than 10, and 3% said they don’t follow brands at all.
Of all the social media platforms, Facebook remains the favorite for following brands online at 38%. It’s followed by Twitter at 19%, and YouTube at 15%.
According to the Sprout Social 2019 Index, 89% of marketers use Facebook for brand marketing efforts.
Users have no problem with businesses having their presence on Facebook. 66% of users even like or follow brands on the platform.
Marketers see a median engagement rate of 0.09% on Facebook across all industries.
While the majority of the branding action takes place on Facebook, companies get the most love on Instagram.
90% of Instagram users follow a brand on the platform.
This is probably due to the immersive visuals people have come to expect from Instagram posts. And businesses do take more time to craft their posts on IG because the platform is all about captivating photography/art.
In a study, a graphic designer made five logos for fictional companies. After showing participants the logos for ten minutes, 78% were able to recall the primary colors of the logos. However, only 43% of them were able to remember the brand names.
The report goes on to mention that a signature color can result in an 80% increase in a consumer’s recognition of a brand.
(Wiley Online Library)
One study shows that choosing the right color for your brand is not as simple as one might think. You need to select a color based on how that color makes people feel.
One example used is the color attributed to orange juice products. People’s opinions of orange juice can change based on their hue, chroma, and lightness.
Take this into account when you choose colors for your marketing assets.
Of the top 500 companies, 60% of them use combination logos (which are a combination of text and icons). This is roughly 307 companies.
155 companies use wordmarks, 24 use lettermarks, 12 have emblems, 1 is an abstract icon (Ford), and 1 uses pictorial (Apple).
40% of the top 500 companies use the color blue in their logo. That’s 198 companies in total. 128 companies use black. 83 have red. 35 use green. And 25 settled on gray.
The least popular color is metallic gold.
Voted on by users on Ranker, Nike wins as the most recognizable logo in 2018. It’s followed by Coke, Walt Disney, Mercedes-Benz, and Apple in that order.
While this standing is somewhat dated, it’s entirely possible that this is still the case today. All of these brands have iconic logos that stand the test of time.
The process of registering a logo is time-intensive. It will take about 10 months from start to finish. The minimum filing fee is $325 so the ordeal isn’t friendly for financially strapped small businesses at all.
So before you file for a trademark, make sure that you’re 100% certain about the logo you’re about to use. If you don’t use a logo, you could lose your rights to it even after registration.
Branding Statistics – Summary
Building a brand does have its challenges. But as 2021 comes closer, you’ll find most companies trying their hardest to outmaneuver their competitors.
You should start building your branding strategy today so you won’t get caught off guard.
Based on the statistics above, it looks like companies will rely on influencers to boost their brand presence online. So this looks like a great place for you to start.
We hope that this list of branding statistics for 2021 was able to help you out in some way. It’s a good reference for anyone who’s coming up with a branding strategy for the first time or for those who need a bit of a refresher.
Further Reading Related to Branding Statistics:
- The Ultimate List of Advertising Statistics for 2021
- The Ultimate List of Startup Statistics for 2021
- 21 Entrepreneur Facts and Statistics You Should Know in 2021