You may not know it, but you are going to need brand equity.
It is one of those strategies that explain the success and leadership of great brands.
So, it was time to be inspired by them.
If you want your company to dominate a significant portion of the market, you need to add value to your products or solutions.
It is precisely what brand equity is all about.
In the current economic scenario, with numerous competitors, brands that do not pay due attention to generating value have a high chance of failing.
However, companies that invest time and money in this planning have been showing better results every day.
The main names in the market in various segments are the real proof that brand equity and branding are not a waste of time.
Rather, your actions are directly reflected in sales results and financial results as well.
If you are curious about generating more value for the brand and your solutions, continue with me.
In this article I am going to explain what brand equity is, its importance for brands and how to use it in digital marketing.
So, let’s get to the heart of the matter!
¿ What is brand equity?
Brand equity is the end result of branding. In other words, it refers to the added value to a product or service, thanks to the strength that the brand conquered in the market.
Obviously, this added value has the objective of impacting the perception and behavior of the consumer about a brand, how it feels and reacts to it.
This influences the purchase decision and, consequently, the profitability of the business.
Like several other expressions used in the marketing universe, brand equity is an English term, which in its free translation means “brand value”.
What is brand?
Have you already noticed how an identical product can cause different perceptions in consumers?
This happens as the brand establishes itself in the market.
The recognition that it acquires originates, mainly, from the consumer’s experience with the product or service.
First of all, to talk about brand equity, it is necessary that you understand the concept of brand very well.
It is normal that we associate the brand with the name of the company, which is not a mistake, but the brand concept goes much further.
As I told you, this has to do with the consumer’s experience and with the way of assimilating the values that the brand transmits.
In other words, the representation of the brand takes into account all the elements that are related to your business and that are in contact with the consumer.
Whether these are tangible or intangible, depending on the segment.
This consumer perception contributes directly to the identification of the company.
Then, a brand that has a positive image has a greater chance of gaining preference when it comes to the customer’s purchase decision.
Therefore, it is important to pay close attention to your company’s speech.
Your product has to meet consumer expectations.
If not, your business will be left with the image of not fulfilling what it promises.
The importance of brand equity
Strong brands tend to encompass the largest segment of consumers, and consequently achieve higher profits.
By the way, having an active participation in the market is the desire of any company, do you agree?
Therefore, it is necessary that you invest efforts in the generation of brand equity so that your brand conquers the minds and hearts of your clients.
So that you understand what I am saying, I am going to list 3 factors that have a strong impact, when you work on managing your brand.
Power of influence in the market
First of all, you need to understand that your brand is not alone in the market.
That is, other elements also have a certain form of participation in your business.
Among them, we cannot forget your competitors, distributors, and of course, the consumers themselves.
Therefore, from the moment in which a certain brand manages to add a high value to its products or services, in addition to gaining the preference of a good part of consumers, it also has a competitive advantage in relation to other companies.
Have you already noticed that it is the strongest brands that usually launch market trends?
Perception of value in customers
As you may have noticed, the success of a brand revolves around the perception of value it causes in customers.
But you may be wondering: at the end of the day, what is the reflection of that value in my brand?
In practice, when a brand becomes strong in the market, it has more freedom to make strategic decisions and make innovations.
Another important aspect is that when your brand is recognized and has prestige among its clientele.
This allows you to attribute the monetary value that consumers will have to pay in exchange for the product, even if it has the same quality as that of your competitor.
This is frequently the case in the fashion and apparel sector.
To make it clearer, try to imagine a plain, plain T-shirt with no print.
You’d pay $ 15-20 for one of those.
Now, think of another shirt of the same quality, printed, but from a more prestigious brand, like Nike, for example.
Surely, you would pay much more expensive, right?
Did you notice the advantage that a brand has when it adds value to its products?
Even being similar to competitors’ products, perception of value is the key to winning customer preference.
And that happens even if your products are more expensive.
In the eyes of the consumer, the brand represents a real advantage.
Last but not least, one of the biggest challenges for brands is having a consolidated base of loyal customers.
And brand equity is one of the ways for your brand to win public loyalty.
Have you noticed that your customers are doing “word of mouth marketing”?
Recommending your brand to friends and family?
Even evaluating it positively in the communication channels?
Well, we can say that when that happens, the client is practically an ambassador for your brand.
Therefore, it causes a great impact on the profits of the company.
In addition to bringing new customers to your business, at no cost to you, the average transaction value (also called the average basket or average ticket) of loyal consumers tends to be higher.
That is, your average individual spending is higher.
It is worth remembering that loyalty does not come about by magic.
It is conquered gradually, through good experiences that the client has when using your product and service.
Therefore, do not be in a hurry or fear of being wrong.
You don’t earn customer loyalty overnight.
But you need to start planning how to achieve that purpose.
Brand equity in digital marketing: how to do it?
It is not possible for a brand to become strong if it goes against the path in the current consumer trend.
Ultimately, it needs to have an active presence in the virtual world, if it wants to be recognized.
To give you an idea, digital marketing will be responsible for 75% of the expenses in the next five years.
Many companies have already noticed that the cost-benefit ratio of adopting digital marketing strategies is quite profitable.
They also found that ROI (Return on Investment) is better on the internet than in traditional offline marketing.
Not to mention that 92% of companies are present in any of the social networks.
You’re not going to be left behind, are you?
But how are you going to secure your piece?
I remind you that there is no formula to apply it to digital marketing.
The strategies depend on factors such as: the size of the company and the branch of the business.
To facilitate your journey, I separated some important aspects to strengthen your brand in the digital environment.
Target audience recognition
A necessary element in any company that intends to meet its marketing objectives is the following: know the audience.
But how do I find out who to talk to in an environment as vast as the internet?
First of all, you must run away from assumptions.
To find your audience you need surveys, analysis and studies.
Therefore, a good way to start is to segment the market prior to defining your niche.
That way, you will easily know where and how your audience consumes content. Then you can offer solutions in those precise channels.
Once the segmentation is done, the next step is to identify and build your personal buyers. In other words, those that have the ideal profile for your business.
Distinguishing this group of people is essential to deliver the solution that best corresponds to their preferences.
Strong message that achieves the identification of the public
After having identified the consumer’s profile, you should think about how to dialogue with him.
What will your focus be?
What kind of language are you going to use?
Would it be something more formal or informal?
Knowing how to use the appropriate tone and “language” when communicating with your audience, and bringing them a timely message, is essential to start a lasting relationship with them and strengthen your brand.
The interesting thing is to develop a content plan that always has a unit, the same line.
The goal is that what you are saying is relevant to the consumers you want to attract.
Choose the channels
With planning in your hands, it is time to decide where your brand will be present so that you can effectively disseminate the content produced.
There are an infinity of channels at your disposal.
Among those that are paid and serve to generate traffic, are the sponsored links in social networks, banners and advertisements for search mechanisms, such as Google Ad words.
About the best channels to generate organic traffic (visitors who find you through free means) we can mention:
The publication of posts on your company’s blog, vitalization on social networks, content optimized for SEO, and of course, word of mouth marketing.
Remember that you do not need to be present at all of them.
The truth, the ideal is to find out which of them is the one that your audience uses the most.
Thus, you save time and do not run the risk of spending money advertising on a channel that is not relevant to your audience.
Brand voice and tone
This is one of the aspects that most leads companies to failure in building their image, even creating rich content and investing heavily in its dissemination.
If you want to achieve the goals you set, not only in digital marketing, but in any and all strategy, you must be consistent in conducting communication with your audience.
Do you remember when I spoke to you about maintaining the same unit?
So, nothing to be changing the “mood” in your campaigns.
The tone of the conversation should be the same in any situation so as not to scare your customers away.
The first challenge is knowing what that tone is.
The second is to apply and maintain it in all communications.
Frequency of activities
Companies that follow a defined editorial calendar manage to have 2.8 times higher traffic, compared to those that do not do adequate planning.
Therefore, posting content once a month is not going to help you get where you want to go.
To conquer the first place it is of the utmost importance to have a constant production.
But no random content just to fill your customers’ feed.
You must produce rich and relevant content so that they identify with your brand and learn a little more from you every day.
Examples of brand equity
If you still don’t know where to start, don’t worry.
Pick some examples of successful brands in generating brand equity to inspire you.
See what we can learn from Apple, Coca-Cola, and Hawaiians.
Brand equity Apple
Apple is one of the greatest examples of how brand equity has the power to make a difference.
Have you ever wondered why so many customers are lining up at the door of the store, on the launch day of a new model of the brand?
Interestingly, sometimes the technical specifications of the products are not better than those of the competitors.
Still, the brand manages to differentiate itself in several details, mainly in design.
That difference gives the impression of belonging to a select group of people.
When purchasing a product, you did not just buy a Smartphone. You paid for an IPhone.
That feeling of exclusivity is closely linked to the value that the brand has managed to add to its products over the years.
For this reason, it is considered one of the most valuable companies in the world.
Brand equity Coca-Cola
Coca-Cola’s brand equity is so strong that only with a piece of its peculiar logo can you identify the brand.
The company invested heavily in branding, with campaigns that transcend the tangible characteristics of the product.
Generally, the product itself is not the protagonist of the advertisement, but the sensations that it produces and the pleasure that only a Coca-Cola can provide, are in sight.
The slogan “open happiness” reflects exactly that concept.
You are not just drinking a fizzy drink, you are consuming happiness.
Coca-Cola sold that idea, its audience bought it, and today there are millions of fans and consumers of the brand around the world.
Brand equity Hawaiians
Hawaiians is a Brazilian company of mules (flip flops, sandals). It is the most important example of brand equity in that South American country.
As in the case of Coca-Cola, as the years passed and with the recognition acquired, the brand stopped showing the physical characteristics of the product and began to show much more the positive experience of using the Hawaiians type of footwear.
In addition, the brand’s advertising campaigns have a humorous touch.
That helped consumers identify and win their hearts.
For this reason, the name Hawaiians became synonymous with sandal in Brazil.
Start capturing leads with Klickpages today
Becoming the benchmark brand in your segment does not happen overnight.
To reach that condition, there is a whole previous job, which includes talking with your audience and awakening their interest in what you offer.
Driving the customer through the shopping journey requires precise actions.
The good news is that digital marketing makes everything easier.
If you still don’t know how to use your site or blog to capture leads, you are missing a great opportunity.
While you are talking with your consumer, through articles or even, when presenting offers, do not miss the chance to obtain their contact information to promote communications that are better directed to their interests.
It can be an invitation to subscribe to a newsletter, receive news by e-mail, download an eBook or enroll in a free course.
Regardless of the action, serrate on a landing page (landing page) increases the chances of confirming conversions desired.
For that you have Klickpages.
It is a platform specialized in creating landing pages that increase the opportunities for your visitor to become a lead.
Observe the three basic steps to create your page, using Klickpages:
- Choose your model: know the high conversion alternatives proven by tests.
- Customize the page: edit the texts, colors and images, as well as hide the elements that are not useful.
- Publish: finally, you only need to publish your own domain, without additional hosting costs.
A strong brand with a positive image is what awakens the desire for consumption in people.
That is one of the great lessons that remain when you understand what brand equity is and the possibilities that open up from the use of that strategy.
The perception that the customer has of your brand determines whether or not they will buy your products, services or solutions.
I remind you that if all this does not meet the expectations of consumers, there will be no generation of brand equity.
Therefore, branding work to add value to your brand is essential in this context.
Can you safely affirm that what you offer to the market fulfills what it promises?
As you ponder that question, put the advice I gave you in this article into practice.
And when it comes to capturing leads, it has Klickpages and its fabulous landing pages that make it easy to connect with your people (ideal clients).
See you here very soon!