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Brand Awareness, is it Art or Science?
© bringga Content Board| PUBLISHED ON September 05, 2022
Brands that succeed tell a story, define themselves and execute. Customers expect successful companies to have a cohesive story, and they can identify with it. Accordingly, a company’s brand awareness is one of its most important components. Whether you’re just starting out in Korea or considering global go-to-market strategies, it fosters trust between your company and its target market.
The art and science of building recognition on a global scale are both important. Brand awareness has several qualitative and quantitative benefits; these are intrinsic and extrinsic. The development of the company’s value proposition, content distribution, audience growth, interest, brand sympathy and, most importantly, customer loyalty drive the company’s growth. First impressions and engagement are critical to gaining and maintaining a competitive advantage.
Art and science can work together to raise awareness and influence as shown by the images on this page and the Monstera albo on the cover. The photographer captured the magnificent Monstera and the wonder of nature for artistic purposes. Our AI versions of the image’s content help amplify that impact.
Cognition behind decisions
In the context of art, companies should recognize the importance of using creative languages such as metaphors and imagery, integrated campaigns, and unique concepts, while identifying with buyer personas, communicating with consumers, connecting with them, and engaging with them to find the best solution. From a scientific perspective, beyond the obvious data science, companies could benefit from rethinking the way people make purchasing decisions, i.e., cognitively.
Harvard Business School professor Gerald Zaltman, has developed ZMET, a patented market research tool that “lights up the shadows of the unconscious mind,” as he calls it. He believes that about 95% of our decisions and behaviors, including consumer decisions, are based on unconscious cognitions. [1] According to Daniel Kahneman, “cognitive biases” are caused by two systems: system 1 and system 2. Our automatic, intuitive, and largely unconscious system 1 contrasts with our conscious, analytical, and cognitively demanding system 2. [2]
Consenquently, these two renowned experts strive to explain the cognitive science that governs our thought processes. Worldwide, major companies spend millions of dollars each year to delve into the unconscious thoughts of their customers. The company uses the insights gained to fine-tune its advertising and marketing plan, focusing on brand awareness.
Psychological theories that every marketer should know about
Companies can use the important insights from these theories to better understand why consumers make the decisions they do and how they can influence them.
- Cognitive biases are pervasive and can affect our judgment.
- We’ve two ways of thinking: system 1 is fast and emotional, while system 2 is slower and more logical.
- We tend to use heuristics and mental shortcuts that can lead to cognitively biased judgments.
- We’re influenced by advertising and sales pitches. That’s why companies use them.
- We may not have perfect memory, even if we remember everything perfectly.
- We’re influenced by social proof and often follow the crowd.
- Many people form an image of us before they’ve even met us. We pay too much attention to first impressions and are often overconfident in our judgments.
- We’re afraid of losses and therefore tend to be motivated by setbacks rather than inspired by successes. [3]
- We’re prone to the sunk cost fallacy, meaning we’re often unwilling to give up on something we’ve invested time or money in. [4]
- We tend to have a confirmation bias, i.e., we’re more likely to look for information that confirms our preconceived notions.
As you can see, there are several of many biases that can influence our decision making. The good news is that when brand owners become aware of them, they have the opportunity to rethink their brand awareness strategy in terms of positioning.
Apple's example
Apple is a good example. The company has had to adapt its message over time to stay relevant, with hundreds of slogans and catchphrases dating back to the late 1970s: “Byte into an Apple” and now the latest, “Think Different – But Not Too Different.”
The goal isn’t to focus on what they did differently, but on how they communicated their original beliefs in all aspects of their business, from product development and advertising to customer service and shop visits. Keep your basic message in mind as you develop your brand awareness strategy, but be prepared to change it as needed to ensure it resonates with your target audience.
The author of the Forbes article “How Apple Neurologically Hooked Its Customers” examines how “Apple’s connection to its customers went far beyond the purely emotional… And succeeded by actually connecting with their minds… We call this neurological connectivity.” From neuroscience to cognitive science, it’s clear that companies have used this research to connect with their customers on a much deeper level. It goes on to discuss how Apple has capitalised on human desires that are now better understood by neuroscientists and psychotherapists. [5]
Some of these tendencies are:
– The need for social bonding
– The need for a sense of control
– The need for a sense of belonging
– The need for a sense of identity
Apple’s marketing and product design has met each of these needs. The iPhone, for example, is designed to be extremely easy to use and to give users a sense of control. And the famous Apple logo is highly recognizable, giving consumers a sense of belonging.
Bottom line, Apple understands human psychology and uses it to its advantage. From a small business to the most powerful in the world by satisfying our most basic needs.
In 2021, nearly $6 billion flowed into Korean startups, with 38,300 companies registered to date
What is the cause of this increase? Korea’s exceptional entrepreneurial spirit and talent, which have helped the country rise to one of the top spots in the global economy, can be attributed in part to chaebols like Samsung, LG, and Hyundai, as well as first-generation unicorns like Naver and Kakao. These companies inspired Korean entrepreneurs with a “can-do” attitude that was successfully transferred to other sectors. Today, a new generation of unicorn companies is driving Korea’s major sectors. Korean unicorns have helped the country become one of the leading nations in terms of unicorns with billion-dollar valuations. These include Dunamu (a cryptocurrency exchange), Zigbang (a real estate broker), Bucketplace (an indoor trading platform), Daangn Market (a second-hand goods trading platform), and Ridibooks (a content platform).
Thanks to the growing interest in our culture and history, the country’s pro-business policies, and the fact that there are now 27 unicorns in Korea, Korean companies have a greater incentive to reach a global audience. And with average revenue of $4 million generated by the more than 38,000 companies, there is still room for expansion. Every company should maximize its potential by revolutionizing its respective industry in Korea while building world-class brand awareness and recognition so that sooner or later it can go global and compete on a global scale. [5,6]
Conclusion
The process of raising awareness, especially on a global scale, requires the use of art and science. It’s simple: content marketing increases brand awareness and loyalty by attracting and converting customers at the beginning of the marketing funnel, lowering long-term acquisition costs, increasing conversion rates, and strengthening customer loyalty and experience throughout the customer journey.
However, it’s more complicated than it seems at first glance. Understanding your audience, your business goals, and the ever-changing digital world are just two factors to consider when developing and implementing a practical, content-based approach to brand awareness. The benefits can be enormous if you’re willing to invest the necessary time and effort.
Explore with bringga how increasing your brand recognition can open up a new world of opportunities.
References:
[1] Hidden Minds: https://bit.ly/3J4O6QM
[2] Two Brains Running: https://nyti.ms/2xBdyMi
[3] Loss Aversion: https://bit.ly/2nAILHO
[4] Sunk cost fallacy: https://bit.ly/2umzSFH
[5] How Apple Neurologically Hooked Its Customers: https://bit.ly/3vbikM8
[6] Announcement of Unicorn companies’ status in ’21: https://bit.ly/3zufG6M
[7] Business Status Survey for Ventures: https://bit.ly/3PsbVEi
Content Strategy that Drives Results
