A beginner Guide to Brand Equity

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If you have ever started and run any successful business such as Affordable Towing In Orlando, you know the importance of branding in casting a lasting and impressive image of a business to inform customers. Brand equity refers to the combination of customer perception, experience, and opinion about a company. Brand equity can have a direct impact on sales and revenue, as well as the reputation a business attracts.

Chances are that at one given time, you might have decided to buy from a specific company based on the reviews you received from your friends. Negative brand equity might come as a result of poor customer service, inaccuracy in pricing, and lack of transparency. If you are looking forward to building brand equity for your business, here are a couple of ways to go about it.

Research public perception of your brand

Customers are not the only group of stakeholders who contribute to brand equity. You need to approach public perception of how they view your business. Your market will contribute to brand equity from an outward perspective. You must research their opinion as it becomes important to get to learn how they think about your business. Additionally, you will understand the challenges your audience face while trying to interact with your business.

Communicate your brand beliefs in marketing

One of the best ways to begin building brand equity is to put branding at the forefront when executing marketing campaigns. Every visual asset you make should speak to your brand in some way. Make full use of colors, images, and other copies that would work to your benefit and introduce a tone that speaks about your business. Customers and audience will be keen to pick up details that define your company.

Turn what customers say into action

If you have been collecting customer stories and data, you can use the information to boost brand equity. An example is how customer reviews might be mentioning a new addition of software, teasing releases, and that could be a great way to earn a positive reception. It is also a good idea to promote customer interaction. If your company doesn’t interact with customers on social media, you are missing out on a valuable aspect of promoting your brand image.

Be present on social

Being present in social sounds like a no brainier. However, it is important to actively devote yourself to excellent customer service. Customers will always follow a company on social media because of a product, and then make the ultimate decision on buying or not, based on communication such a company puts on social media.

It is also important to emphasize how you are different. Most of you who have seen the “Get a Mac” campaign can ascertain what being different means. Apple used the campaign to show why getting a Mac was a better decision due to the superior features and capabilities Mac offered. To get a market edge, it is important to use campaigns that explicitly state how your product is best suited for the customer.

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