Wednesday, 16 December 2020

5 Reasons Why influence is more important than brand awareness

 5 Reasons Why influence is more important than brand awareness

Many entrepreneurs misplaced brand awareness, but brand awareness alone does not lead to conversion and sales.What's more, it can't guarantee them.

Let's take Toys“ R”Us as an example.They operated for 70 years until they finally filed for Chapter 11 bankruptcy protection and subsequently liquidated.

While companies like Wal-Mart and Amazon may have gained more market share at a lower price, Toys R Us may have survived if it was able to make better use of its influence.When they filed for bankruptcy, almost every generation in the United States had at least some knowledge of the brand.

In 2019, the National Retail Federation said: "nine out of ten parents say that their child will affect at least some aspects of their purchase, whether it is for household goods or the child itself.”

This is not a new trend in spending.Businesses and entrepreneurs need to respond to changes in the market without being impulsive and turning a deaf ear.A few years ago, more parents also began to focus on giving their children the experience.But this does not make the product obsolete.It just creates a need for companies like Toys“ R” Us to emphasize the necessity of their products through services and experiences.

They didn't use their influence to take charge of the brand response, not only retaining but expanding their customer base, but they didn't take the lead.Don't make the same mistake.Five reasons why influence is more important than brand awareness are as follows.

1.Brand awareness

Consumers still rely heavily on product and service advice, which is why net red marketing can still be so effective.When consumers indicate their needs and pain points, allow them to influence your direction.Brand awareness doesn't happen overnight or alone.Properly and ethically influencing consumers can produce immediate results and can start with one act or one person.Can even be exempted from being demolished business.

2.Even a negative buzz can create opportunities

If you mistake the company or brand for something wrong.Make a sincere apology and then take corrective action immediately.Implement a policy to prevent recurrence.When companies are willing to take responsibility for mistakes, consumers are often willing to forgive mistakes.

3.Influence directly affects behavior,and brand awareness may not

Let's say a colleague asks if you've heard of hamburgers and french fries.You might be thinking, who doesn't?They are your favorite food.In fact, you know where they came from and where they were purchased, how to cook them and all the ways you can use them.That's brand awareness.

If the same colleague says, " Hey, let's grab some hamburgers and french fries on the street,”you might agree.Knowing something and consuming it are two very different things.Once again affect brand awareness.

4.Influential brands will also play an innovative role

According to a 2019 New York Times article,“in some drive-by conversions, McDonald's has tested technology that recognizes license plate numbers, enabling the company's tailors to recommend buying to customers a list of previous orders, as long as the person agrees to write off the data."”

Another trend that B2C products and services have been on the rise for some time is personalization.Are there even some people who have never heard of McDonald's?They are masters of brand awareness,but this alone does not optimize their profits.They are always looking for ways to enhance the consumer experience by using innovative methods to influence the direction of consumer consumption.

5.Everyone has influence on someone.

People talk and share stories.Whether in person or in digital form, your business will be mentioned more than you think.Every interaction your brand has with others-whether they're customers or not-can instantly influence their opinions and actions.