Know-How Exchange : Strategy

If you are selling B2B brand awareness is not nearly as important as good qualified leads. If you are selling B2C, you need to carefully develop exactly who your customer-base might be and then practice getting your message to them via niche communications.

What are you selling?
Your question must be more specific to get any meaningful answer...
If you sell cars, of course you need strong brand awareness.
If you sell chewing gum, sales promotion can do the job without brand awareness.
The Territory you mention also needs a bit of explanation.
If you sell in upper class demographic areas, brand awareness is very important.
If you sell in low income areas, price will rule the day.

İt all depends on your ultimate market share goals: from my experience and the few scientific findings, a converstion rate of 1 out of 4 or 5 appears reasonable for your typical new improvement (inertia is high in BtB). So if you aim for a market share of 15% (i.e. become one of the big three players), you should make 60%-75% of your target market aware of your product

You might compare your competitor’s awareness levels top their shares to draw some correlations and determine what's required. Also, look at your share of both total brand awareness and Top-of-Mind awareness. That said, unfortunately, there is no awareness benchmark that is going to guarantee you results - there are far too many variables influencing sales.

Awareness, in and of itself, is just a small part of the marketing objectives you'd need to achieve: It needs to be relevant, positive awareness - so wrap some context around it. For example, you might want to change to focus into a combination of awareness, imagery/equity and purchase intent.

Also it needs to be measured amongst a targeted audience: It should be awareness amongst purchasers, influencers and/or decision makers, but, even then, it doesn't do much good to achieve 100% awareness if they are not in the market to buy!

Best of luck
-Steve