Branding is how a company or product gets a unique image and reputation in people’s minds. In South Africa, branding is more than just visual elements and reputation. In a country where there is extreme economic inequality, consumers are increasingly looking to brands who do good while they do well. Consumers are seeking brands that will develop a deeper and more meaningful connection with them, according to a 2019 article in Bizcommunity.
Some of the top brands getting this right are leaders in their industry, including Discovery, Unilever and Woolworths. According to studies, there is a direct correlation between a strong South African brand and an increase in revenue, as companies increase brand awareness, build trust and foster customer loyalty.
Here are five ways sales are affected by branding in South Africa:
A strong brand is easy to recognise, which leads to sales. According to some studies, 80% of South Africans will buy from a brand they recognise. When a brand is easily recognised, it subconsciously creates a connection in the consumers mind who will buy from the brand they feel most familiar with.
A strong brand creates loyalty, leading to repeat sales. 60% of South Africans will stay loyal to a brand if they have a good experience, says a study. With 83% of people stating that they prefer to buy from brands that they feel they can trust.
A strong brand reputation leads to sales growth and market share. Companies with strong reputations in South Africa have more sales growth, according to a research institute. A good reputation leads to word-of-mouth referrals which ultimately leads to more sales through already established customers sharing their experience with their friends, family and coworkers.
A strong brand sets a company apart from competitors. Brands that stand out are able to charge 20% more for their products and services.
Brand awareness is key to sales. Half of South Africans say brand awareness is the top factor in buying a product, according to a survey. In addition, 89 percent of marketing and branding companies in South Africa value brand awareness as their primary objective over sales and lead generation.
Successful branding leads to a growing brand in South Africa
In South Africa, branding is an important part of any successful business. By having a strong brand, a company can increase recognition, loyalty, reputation, differentiation, and awareness, which ultimately leads to sales. Companies with strong branding in South Africa see a 23% increase in revenue on average, according to research.
The Agency is a South African branding and marketing company offering multiple services to increase brand awareness and recognition. Our services including SEO and paid marketing aim to make brands visible online and increase their sales through strategic online brand building. To improve your branding, contact us for a quote!