Brand Perception
What do people think about your brand?
Understanding Your Brand
The company’s brand serves many functions: A brand enables a company to stand out from its competitors. In other words, a brand is a way for customers to differentiate one company’s product or service from another. A company’s brand is an intangible asset that drives its ROI and ensures its long-term success, but it is also used to elicit the desired emotions from its customers. Your brand is a reminder to your customer that you solved their problem.
Brand Equity
A company’s brand is its public image;. when a brand climbs the ranks to become an industry leader, it acquires equity. A company’s brand is its promise to its customers. They keep this commitment by providing everything from the best quality products to their excellent customer service. A personal brand almost exclusively revolves around an individual’s interactions with their target audience. Because it’s tough to illustrate what a service looks like, creating a service brand is more complicated.
What a Brand is not
We use logos, packaging, images, slogans and colors to promote brands with visual representations. They are tools that companies use to promote their brand identity. This helps marketers to stand out in people’s minds and if the product, service or individual is recognizable and brand image creates a positive response then the brand’s identity is considered successful. A good question to ask is: What message is my company’s brand sending?
The Importance of Brand
Your brand represents everything about the company. It is what people say about you. Brands can have reputations that can either hurt or help make it global. If your brand is strong then customer loyalty can be the difference between staying where you are or exponential growth. To put it another way: The better the brand the more people trust and relate to it – the bigger your bottom line.
Your Brand’s Value
Brand value is the perceived worth of your brand, not the actual market or financial value. The brand brings a social status or importance to someone’s life. If the value is high enough then it can protect the brand during downturns and protect it from the emergence of new competitors into the market.
Brand Story: One of the founders of Warby Parker lost his glasses on a camping trip and could not afford to replace them. Warby Parker believes that fashionable eyewear should not be expensive and for every pair that is sold one pair is given to people in need.
How to Communicate
How Apple communicates with their customers: “Everything we do we believe in challenging the status quo; we believe in thinking differently. The way we challenge the status quo is by making our products beautifully designed, simple to use and user-friendly. We just happen to make computers. Want to buy one?”
Know What Your Customers Think
Every aspect of digital marketing requires you to first know the fundamental details about your customers and clients, such as their age, gender, demographics, and their behaviors for instances:
what content they consume, how they interact with your company and your brand and what makes them choose your product or service over your competitor?
Do the research by doing surveys and ask them if they would recommend your business to their friends and family.
Look into your online reviews, are they good, bad or mixed, see any negative reviews as a way to change what “pain point” your customers are having – look at your competitors’ reviews, maybe they are doing something that you do not think of as value added service.
Make sure you are also monitoring all of your social media channels for what resonates with your followers. The better you understand all of these details then you can see how well your clients know, like and trust your brand.
Things to Remember
Brands can have reputations that either help or hinder their ability to become global; this can also affect customer loyalty and be the difference between staying where you are now or experiencing growth both with your reach and your bottom line.