Brand value is one of those things – very few brands truly manage to accomplish it. Everybody seeks it, but many battle to achieve it. What is the secret of brand strategy?
What is your USP? Service with a smile? That’s not a USP. The value that your brand offers to the market, that your competitors can’t, is where the real magic lies.
Knowing exactly what you stand for can be liberating. It can act as a means of inspiration and self-promotion. Brand value is a topic routinely spoken about amongst marketers and one of the most highly sought-after subjects. But what is it?
In the eyes of the consumer, a product with a well-known name is superior to products with less well-known names. This, in a nutshell, is brand value. Use your USP to give real value and become the known brand that everyone loves and wants. Build brand affinity.
Possibly the biggest challenging in managing your brand value lies in the ever-changing environment in which marketing lives. This environment is constantly undergoing change an is evolving at rapid rate and clever brands stay at the forefront of the change.
Consumers express a real fondness for brands that offer extra value. That bit of extra value, no matter how large or small, can translate into inspiration for consumers to purchase that product/service. Inspire your customers to sell your brand with conviction.
The truth is, being unique, being yourself and being different is what sets you apart and is imperative for value growth. This doesn’t mean that you need to go out and be completely alternative. It simply means attaining the attribute that makes you, you.
In the weird and wonderful world of marketing, brand value stems from the notion that the owner of an established, recognisable brand can generate more income from brand-recognition (that is, from products with that particular brand name) than that of products with a less well-known name.
The real challenge lies in the fact that these changes are external forces and thus, you have no control or influence over them. Things such as shifts in consumer behaviour and regulations are far out of our control and have a tremendous effect on value.
So, now you understand the importance of brand value and the real difference it can make. But how can you increase your brand value?
Fear not, we’re here to tell you that is possible and as long as you don’t cut corners and are placing focus on connecting, it is as attainable for you as it was for those 3 companies you’re thinking about right now that you simply can’t live without.
Inspiring self-confidence and resonating positivity has the power to cultivate brand loyalty and make a real change in society.
Make them happy. It’s as simple as that.
Many marketers underestimate the power of happiness and the reaction it evokes in customers. If you make them laugh, make them smile or instil a sense of happiness within them, they will feel inspired and associate your brand with a light-heartedness that is addictive.
Brand value is one of those things. Everyone seeks it, but few accomplish it. If you devote the time to fabricate positive, authority marketing and weave people in the fibre of your very existence, they will understand that you’re not here to cut corners. They will see that you’re here to make a difference. And that is brand value.