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That’s what CNBC says.
Other estimates are in the millions. Still, quite the windfall. Besides who doesn’t like a cup of hot beverage when winter is coming?
Why was it worth so much to a company that already has such a high level of brand awareness? Starbucks is almost synonymous with “coffee”.
To prove the point, it wasn’t even a Starbucks cup. Because of their amazing brand recognition people just assumed that it was.
Brand awareness advertising has the objective of increasing recognition of your brand within your target market and is not usually an advertising strategy employed to make sales and money in the short term.
How much would a placement of your logo in a Game of Thrones scene be worth? Probably not nearly as much as Starbucks….Becasue…
How many of the 11 million viewers would recognize you logo?
If they did what kind of social media buzz would it create?
You get the idea.
That being said, brand awareness advertising can be effectively used as part of your overall marketing strategy.
Brand familiarity is positive for sensory, emotional, behavioral and relational connections with a brand.
For that reason, advertising to a market segment that is familiar with your brand multiplies the effect of your advertising.
How can small businesses increase Brand Awareness without breaking the bank?
If you are interested in diving a little deeper here are a few articles for further reading:
Hubspot’s 14 ideas to build brand awareness fast
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