21 Fresh Statistics On the Importance of Branding

In an increasingly competitive market, effective branding is what makes you memorable, helps build trust, and sets you apart from the competition. This article explores 21 statistics that highlight the critical role branding plays in shaping consumer perceptions and driving business success in 2024.

From the influence of brand values on purchasing decisions to the rise of AI-driven personalisation, these statistics reveal the key factors driving consumer trust and engagement today.

Dive into these insights to see how branding can shape your success in 2024.

The Importance of Branding

Branding is crucial because it’s the heartbeat of how your audience perceives you. It’s not just a logo or a catchy tagline, it’s the entire experience people have with your work, your values, and your vision. Effective branding creates a lasting impression, creating feelings of trust and recognition when you get it right, and potential disasters if you get it wrong.

When your brand is consistent and authentic, it helps build a loyal community who resonates with what you stand for. Branding tells your story—and that’s what makes you stand out in a saturated market space. It differentiates you from all the other brands and communicates your unique value.

This connection can transform casual followers into devoted returning customers, who not only support your work but also spread the word about it. Without strong branding, you risk blending into the background, missing opportunities to build meaningful relationships and make a significant impact.

21 Branding Statistics That Show It's Importance in 2024

Brand values & trust influence purchasing decisions

Brand Values Examples — Huddle

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In 2024, research highlights that sustainability, inclusion, and diversity are key factors influencing consumer purchases, especially among Gen Z. Consumers are willing to spend more on brands that prioritise sustainability, and the majority say diversity plays a role in their buying choices. In the UK, trust in a brand is reflected by increased purchasing behaviour.

Stats from research into brand values and purchasing decisions in 2024 show that:

62% of Gen Z shoppers prefer to buy from brands that value sustainability. (First Insight, 2024)
73% will pay more for products from sustainable brands. (First Insight, 2024)
Three quarters of consumers say inclusion and diversity influence their purchase decisions. (Kantar, 2024)
71% of UK consumers show they trust a brand by making more purchases. (Adobe, 2024)

AI has raised the bar on branding & marketing

Source: HubSpot State of Marketing Report 2024

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AI is transforming branding and marketing, with over half of brands utilising chatbots or conversational AI for customer interactions. Brand marketers are increasingly adopting AI for personalisation and efficiency, with many viewing AI as valuable.

While most consumers are comfortable with AI-driven customer service, a smaller percentage remain cautious about AI-generated content, creating a new challenge for brands who want to create AI-generated content but still care about quality.

Recent statistics on the state of AI for brands include:

54% of brands are using some form of chatbot or conversational AI platform for customer-facing interactions. (Gartner, 2023)
Marketers save 2.5 hours per day with AI. (Hubspot, 2024)
72% of marketers use AI for personalisation. (Hubspot, 2024)
60% of marketers see AI tools as a helpful assistant in their jobs. (Hubspot, 2024)
Over 73% of consumers agree or strongly agree that they’re comfortable with brands using AI to deliver faster customer service on social media. (Sprout Social, 2024)
26% say they would be distrustful of brands that post AI-generated content. (Sprout Social, 2024)

Social media branding drives engagement

Source: LinkedIn

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In 2023 and 2024, social media brand awareness has significantly influenced consumer engagement and trust. A considerable portion of users actively engage with branded content on platforms like Instagram, while exposure to brand messages on LinkedIn greatly increases conversion rates.

Additionally, the majority of consumers, especially Gen Z, now view a brand’s social media presence as a key factor in building trust—which we already know positively influences conversions.

Key branding statistics from 2023 and 2024 show us that:

22% of Instagram users watch branded content Stories from a company, business, or brand more than once a week. (HubSpot, 2023)
36% like, comment, or share branded Stories on social media platforms. (HubSpot, 2023)
People are six times more likely to convert when they are exposed to brand messages on LinkedIn. (LinkedIn, 2023)
78% of consumers (and 88% of Gen Z) agree a brand’s social media presence has a larger impact on whether or not they trust a brand compared to a year ago. (Sprout Social, 2024)

Great brand storytelling builds loyal customers

Source: BloggingLift, 2024

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Our brains are wired to love stories, and branding is the story of your business. Branding is perfect for creating emotional connections with consumers, which ultimately leads to stronger brand loyalty and higher conversion rates, as customers with strong emotional ties to a brand are much more likely to make purchases compared to those with weaker connections.

Here are a few recent statistics that illustrate this:

Brands can see a 96% increase in conversion rate with emotional brand storytelling efforts. (CXL, 2023)
Customers who have an emotional relationship with a brand have three times higher lifetime value (Branding Mag, 2022).
82% of customers buy from a brand when they have a high emotional connection, compared to only 38% of those with a low emotional connection. (NetImperative via BloggingLift, 2024)

Brand consistency gives you a competitive advantage

Source

To increase brand recognition and revenue, prioritise brand consistency. This means utilising brand guidelines and a tailored branding strategy to ensure a consistent brand presentation across all digital marketing touchpoints like social media and your website.

While most brands are on board with having guidelines, there is a gap for opportunities where many brands aren’t utilising these guidelines on a regular basis. This can lead to an inconsistent brand image and ultimately lost sales, as customers increasingly want to positively interact with a brand before purchasing from them.

Here’s what the statistics say:

Customers need to see your brand at least 7 times before they commit to a purchase decision. (Forbes, 2023)
Brand consistency can increase revenue by 10-20% (Marq, 2021)
85% of organisations have brand guidelines in place to improve brand consistency. (Marq, 2021)
Only 30% of brands use their brand guidelines regularly, and 15% do not have brand guidelines at all. (Statistica, 2021)

Closing Thoughts

Effective branding is no longer optional—it's a crucial factor in earning customer loyalty and maintaining relevance. These statistics show how strong branding efforts, when done right, can elevate your brand image, enhance customer engagement, and provide a lasting competitive advantage.

At Huddle Creative, we are experts in B2B branding. We specialise in crafting B2B brand identities and strategies that resonate with your target audience and drive measurable results. Our team works closely with businesses to build strong, cohesive brand identities that stand out in today’s crowded market.

Let us help you elevate your brand and turn your vision into lasting success.

Brief us today to get started.

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