Lumo Lab brand insights
What is Branding
Branding is more than aesthetics and style. It engineers engagement and conversion when used effectively.
Lumo Lab's Definition
Brand
A brand is a business entity that exists in the mind of the customer as a concept. What buyer remembers are the qualities they associate directly with the brand.
Strong brands are able to build meaning around a product or service.
Branding
Branding is the formula behind how meaning is expressed to the ideal buyer. Well conceived branding makes it easier for your buyers to remember you and believe in what you stand for.
It helps to support your messaging and reach the right kind of buyers.
Branding system
The systems are the visual/sensory structure that gives the brand its distinct identity and brings a tangible relatedness to a brand.
The messaging informs the branding system, and the branding system supports the messaging.
The impact of branding activity on engagement and conversion
Visual and verbal languages build trust and positivity on a foundational level. A study by Emotiv and the Advertising Research Foundation found that ads with a strong emotional appeal performed better in driving sales than those with a purely rational appeal.
Branding and customer experience. A study by the Design Management Institute found that design-driven companies, which often prioritize branding and customer experience, outperformed the S&P 500 by 211% over a 10-year period.
Buying decisions. Studies show that 70% of the buyer's decision is made before any direct sales interaction occurs, and often online - with the buyer using your website to conduct their research themselves
Resonating with buyers.
Bain & Company's own research has shown that companies that deliver on multiple elements of value, including emotional and transformational elements, have higher Net Promoter Scores (NPS) and revenue growth
Further Data Points
"If a scaleup were to change certain levers within its brand toolkit, it could see a 20% increase in interest from people", says Drew Usher, the Research Lead and Brand Strategy Director at Hotwire Australia
“Branding is a powerful yet undervalued tool by most tech scaleups, which prioritise product over brand. Striking a balance between function and emotion in brand communications is a huge opportunity."
Hotwire Australia, 2023
A study by the Institute of Practitioners in Advertising (IPA) found that campaigns with a strong visual identity were 27% more likely to report significant business effects, such as increased market share and sales (IPA, 2021).
Practicioners in Advertising, 2021
The human brain processes visual information 60,000 times faster than text (IAS, 2022), making visual branding a critical component in capturing attention and conveying your brand's message.
IAS, 2022
According to research by Hubspot, infographics are 30 times more likely to be read than a written article and they can increase website traffic by up to 12% .
Hubspot, 2024
According to Vengage study in 2021, over 50% of marketers used visuals in over 91% of their content, with 36% of all visual used being custom-created visuals for their brand.
Vengage, 2021
A Springer study found that people following directions with text and illustrations do 323% better than people following directions without illustrations.
SPRINGER
Lumo Lab's Brand Strategy Workbook is here.
Planning a rebrand to unlock your brand's full potential?
Our comprehensive Brand Strategy Workbook lays a foundation towards defining your unique identity, vision and message in your marketplace.
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