Making your product or service known to your customers can be a challenge. This lesson will discuss brand awareness and intent to buy, as well as how to use digital marketing to bridge the gap between the two.
Think about the last time you were watching commercials during your favorite television show. Most of the brands on the commercials are familiar to you, and you sometimes even know the brand before the end of the commercial. You might know what brand it is by the music or images you see. Brand awareness is the extent to which consumers are familiar with a particular brand based on its specific characteristics. For example, Apple products do not even have to write out their brand name in letters. The well-known apple symbol is enough for consumers to know that the commercial is about an Apple product. Brand awareness affects a consumer's decision to buy a product or service. We are heavily influenced by brands, which is why it is important for companies to focus on brand awareness.
Intent to Buy
There are different points in the buying process that customers go through when looking at certain brands and products. The intent to buy stage is when a customer is pretty certain he or she is going to buy a product. For example, imagine that you just broke your phone and need to buy a new one. You go into the phone store to look at new phones. Due to your circumstances, your intent to buy is at a high level. If you were just looking into buying a new phone in the future and you had not broken your phone, your intent to buy would be at a lower level. You might go into the store and browse new phones, but you would not necessarily buy a phone the same day. It is important for companies to understand their customers' intent to buy in order to know exactly what kind of support and services to offer.
Companies also need to have a plan in place to help bridge the gap between brand awareness and intent to buy. Digital marketing can help to close this gap. For example, with enhanced technology it is easier to know a customer's loyalty based on his browsing and support on social media. Customers are able to like brands they are loyal to on social media. Companies can use this information to send ads and market to their target customers. This will help close the gap between the customer simply knowing about the brand and actually purchasing one of the brand's products. Technology also helps to keep track of customers' purchases and can be used to make suggestions for more products they should buy. For example, some companies send emails with similar or related products, based on a customer's past purchases.
Molly loves to shop online and she is looking into buying a new computer. She's aware of several different brands of computers and wants to do research on them before choosing which one to purchase. She is aware of different brands because of purchases she has made in the past, as well as advertisements she has seen. Molly's intent to buy level is high because she really wants a new computer. Based on past purchases, ABC Computers sends her emails with new products that match her preferences. Because of this, Molly ends up buying her new computer from ABC Computers because their use of digital marketing successfully closed the gap between her brand awareness and intent to buy.
Companies are constantly focused on raising brand awareness and work hard to make their brands known to customers. Brand awareness is a customer's ability to recognize a particular brand based on its specific characteristics and images. In addition to this awareness, companies also need to focus on their customers' intent to buy a product or service. In order to close the gap between brand awareness and intent to buy, companies frequently use digital marketing such as emails and ads targeting customers' social media accounts.