What is Brand Equity and How to Get it?
What is your customer’s perception of your brand? That is brand equity. It’s the value customers place on your company. Building good brand equity is important to grow clientele and increase referrals.
Impressions are everything. Building brand equity can help you stand out among competitors and make you your targets first choice.
Raise Brand Awareness
Educating your audience on your brand and the services you have to offer your target is important in order to build a credible reputation. This is what raising brand awareness is all about. Communicating and interacting on social media with other members in your business’s community will expand your network and potential reach. Staying consistent with your brands appearance and voice can make it easier to identify your business among other competitors.
Posting interactive content such as a live stream Q/A, informative blog post, or captivating graphics can help you make a memorable impression and increase your reach.
Gain Loyalty:
No one knows your markets interests and beliefs better than you. Making sure your company’s core values align with your target market’s can help increase positive public perception of your brand. According to Forbes, brand awareness is about resonating with your client in a way they know they want you. Having good branding, intriguing content and witty copy are helpful in getting you there but delivering a clear message of the essence of your brand through marketing will form a positive relationship between your brand and clients.
Customer feedback and reviews will help you understand what your brand could be focusing on more. Free mini services or loyalty programs, can be incentives for returning customers.
Cultivate Positive Feelings and Associations with your Brand
I will be the first to admit—and I’m sure I’m not the only one—I’ve left my fair share of bad reviews on Yelp or Google reviews after a negative experience with a business. I’ve also been the type to give a business a second chance when they attempt at resolving the issue at hand and ended up becoming one of their returning customers!
It is important to remember that in order to build good brand equity you don’t necessarily have to be the perfect business with 0 complaints and mistakes. Keep in mind that attitude and the way the situation is handled can form the way the client will react and the impression they will leave with when they are finished working with you.
Positive relationships with your clients can offer some leniency in the future if there were to be a crisis with your brand. Your clients may be more forgiving if it isn’t a common occurrence.
Check out these boss ladies who spoke at FMC 2020 and POSH TALKS podcast to hear more about what other entrepreneur experts have to say about marketing and media.
While we have you here lady boss we want to give you access to our Facebook Ads Checklist to help you make sure you’re all set before launching your next campaign!
