9+ Branding Statistics: A Must Know For Marketers in 2024

ByYaqub M. (CBC) Updated on
LinkedInCopy

I’ve compiled a list of insightful branding statistics and trends for marketers; a brief overview is provided below.

Branding Statistics

  • Brand consistency can boost revenue by up to 23%.
  • Customers who feel connected to a brand are 52% more valuable to a business than those who don’t.
  • With good branding, hiring and training costs can go down by up to 50%.
  • 46% of people are willing to pay more for goods and services from brands they trust.
  • Color can increase brand recognition by up to 80%.
  • 77% of marketing executives believe branding is critical to growth.
  • 83% of marketers believe that authenticity is important to their brands.
  • 48% of consumers become brand loyal after their first purchase or experience.
  • 71% of consumers are more likely to buy from a social media-followed brand.
  • Branding can increase click through rate (CTR) on your online ads by 2-3x.

Sources: (Forbes, Harvard Business Review, Linkedin, Salsify, WebFX, Nosto, Telia Agency.)

How Many Brands Are there in the World

Research from Nielsen Media, listed over 500,000 (half a million) brands in the world with more than 2000 product categories. This number is always changing as businesses come and go. It’s difficult to estimate an exact number because of all the different types of brands there are (local, national, international, etc.). But this gives you a general idea.

I am Founder of BusinessDIT, SEO Consultant, Certified Business Consultant by USIDHR and BA from the City University of New York. I bring a four-year experience of boosting online presence. My passion lies in empowering small businesses to excel in the digital arena.