How to create lasting brand equity in 2024
Brand equity is crucial for long-term business success. Whether you’re striving to stand out online or gain loyal customers, brand equity is the answer. You need to understand the definition of brand equity and how you can harness its power within your marketing strategy.
As a B2B branding agency, we know the implications of quality branding. Creating a lasting brand means learning what brand equity and your value are, their importance and the techniques you can use to amplify that message online and offline.
What is brand equity, and why is it important?
Brand equity is the unique value attached to a brand and its products based on the consumer’s perception and trust in that brand.
This value helps your brand stand out and keeps consumers engaged in buying your products or services. Brand equity stems from many components which work together to create that trusted image, including brand awareness, brand loyalty, brand identity, perceived quality and positive brand associations.
By utilising a marketing strategy to focus on these varied components, you can create effective results to set you apart from competitors and make you stand out, aiding business growth. This recent study states, ‘brand equity is a final outcome variable, which is influenced by multiple constructs’, clarifying the route to success with multiple components.
With expertise in branding as a B2B branding agency, we’ve shared our top tips and tricks to create lasting brand equity.
Create a consistent content marketing strategy through storytelling
Quality content marketing creates a lasting impact for your customers and brand. The key to writing good content is focusing on storytelling and authenticity, providing value and interest in what you’re saying as a brand. Creating a streamlined content marketing strategy with the purpose of storytelling adds a human element to your brand and aids customer experience when learning more about your expertise.
The focus on storytelling goes hand in hand with the emphasis on brand equity as both help build a trusted brand presence, enabling you to deliver a killer content marketing strategy.
Provide customers with a reason to follow your business
Every business is different as we all have personal insight, expertise and experience to share with our audience and customer base. This insight and who your company is provides value to the customers and gives them a reason to follow your business, purchase your products or services and gain trust. You should invest in showcasing that value through brand-building activities and creating a personal brand presence online.
Also, how you measure this ‘value’ will help guide your brand-building strategy further. Rather than focusing on ROI and clicks, look at organic content and what content people engage with to see the results of your brand-building. Conversions about your brand online are another aspect to help guide your message online and ensure you’re sharing your value authentically and efficiently.
Ensure branding is consistent across all means
A consistent brand experience is what builds trust and helps customers return again and again to you. This is as important as the quality of your product or service because it’s about the customer’s perception of you. You should look at aligning all your marketing, such as messaging, graphics, branding design, tone of voice and how you show up online. Your audience wants to know what to expect from you.
It’s about giving to your audience to help them gain insight and trust from you, for them to want to give back. Think of brand equity like a relationship; it needs to be about give and take with consistency in every form.
Promote your brand authentically
Being consistent is powerful and goes in hand with authenticity. As a brand, you want to show up with the message of who and what you are to build trust. But you must tell that story authentically in everything you do, from blog posts and Instagram stories to how you communicate with customers. The same authentic story and message should align with your marketing strategy overall. A great way to ensure everything is streamlined and you have a distinctive tone of voice is to create a brand guidelines document that all team members have access to.
Educate your team about the importance of brand building and equity
It's important to know the significance of brand equity in marketing and convey that to your team. After all, many brands expand with employees or freelancers over time, and it’s down to the entire team to carry the consistent and authentic brand message.
Spend time investing in educating your team about the brand equity meaning and how you can create a lasting impact on your customers through implementation.
Continue the learning process
Nailing brand equity and presenting your brand online effectively in the first few months isn’t likely, as it’s a constant learning process - and takes time to build up. It’s important to note that, like any marketing strategy, brand equity takes time to create an impact and see the results you’re striving for.
Building your brand is a constant learning process. Through creating content, you will see what resonates with your audience the most and how best to present yourself online. And you can learn from all of this to amplify your brand better and give you effective results and lasting brand equity.
Never stop learning. Learning and evolving through industry changes and current trends will help adapt your brand to modern times, as well as maintain your authentic message.
Are you looking for some branding tips? Or are you keen to learn more about brand equity and how you can make a lasting impact? We’re a B2B branding agency supporting your marketing teams - contact us today for help and advice. We’d love to talk to you.