Brand Equity Gets You Noticed.
In a crowded marketplace that offers seemingly endless choices for the consumer, staking out a distinct identity and deriving value from a recognizable name is the objective of every brand. It’s what every digital marketer strives to accomplish for their clients.
In marketing lingo, this premium value carried by an established brand name is referred to as brand equity. When we think of businesses that enjoy high brand equity, we often think of huge, globally recognized brands. Still, with a combination of good business sense and a disciplined marketing strategy, building brand equity is an achievable goal for brands of all sizes.
As you set out to build brand equity for your business, here are a few broad rules to consider:
Build a Foundation on Your Strengths
The best way to set your brand apart from the competition is to be clear about your strengths. What problem do you solve for your customers? What’s the unique approach that makes you the superior choice? You should already have answers in hand for these kinds of questions – if you don’t, set aside some time to formulate good ones before you commit to a marketing strategy. Unfocused, inconsistent, and generic messaging won’t help you build brand equity.
Tell the World Your Story
Once you’ve established how you want to position your brand, it’s time to incorporate your brand story into your marketing efforts. Brand storytelling is a popular concept in marketing these days, and there’s no shortage of ways to tell a story. This doesn’t always mean emotionally driven narrative – depending on the needs of your audience and how you seek to position your brand, sometimes a clear, simple value proposition is the best story there is.
Your Brand is More than Just a Logo
While aesthetic components such as logos, typography, and brand colors are an important part of branding, it’s essential to make sure these components are an authentic extension of the products, services, and experiences you deliver to customers on a day-to-day basis. If there’s conflict or dissonance between the image you project and the tangible experience customers have with your brand, your brand image will become muddled, and your brand equity will suffer.
While there’s no substitute for delivering superior products and services to your customers, focus and consistency in marketing can go a long way towards building and maintaining brand equity.
Looking to boost your brand equity? Here at Rosie’s Creative, we’ll work with you to put together a marketing strategy that highlights your strengths and sets you apart from the competition. Ready to get started? Contact us today.