The secret to creating brand value
When creating brand value. What we buy is ourselves—a process for creating brand value. Call us, and we will share our process with you.
You leave it to engineers to create a better product or owners to improve operations, so you present better services to the consumer.
But it is up to marketers when it comes to creating brand value.
In today’s competitive marketplace, it is more important than ever for businesses to have a strong brand.
What is the importance of brand value? A strong brand can help a company attract new customers, build loyalty with existing customers, and command a premium price for its products or services.
What is brand value?
Brand value is the sum of all the benefits a brand provides its customers. These benefits include quality, reliability, trust, convenience, and a sense of belonging.
We create a brand over time through various factors, including the quality of the products or services offered, the customer experience, and the brand’s overall reputation.
There are many benefits to creating and building brand value. Some of the most important benefits include:
- Attracting new customers: A strong brand can help a business attract new customers by giving them a reason to choose your product or service over the competition. For example, if customers know that your brand is synonymous with quality, they are likelier to buy from you, even if your prices are slightly higher than the competition.
- Building loyalty with existing customers: A strong brand can help a business build loyalty with existing customers by giving them a reason to keep coming back. For example, suppose a customer feels they belong to a community of people who share their values. In that case, they are more likely to stay loyal to your brand even if other, less expensive options are available.
- Commanding a premium price: A strong brand can help a business command a premium price for its products or services. Customers are willing to pay more for products or services from brands they trust and believe in.
- Improving business operations: A strong brand can help a business improve its operations. For example, a strong brand can help a company attract and retain top talent, improve customer service, and reduce marketing costs.
Rebranding makes sense when creating brand value
The risks of not rebranding are significant. Businesses that do not rebrand may find it challenging to attract new customers, retain existing customers, and compete with other businesses with strong brands.
Additionally, businesses that do not rebrand may be seen as outdated or irrelevant, damaging their reputation and making it difficult to attract new investment.
Specific risks of not rebranding
Losing market share: Businesses that do not rebrand may lose market share to businesses with strong brands. This is because customers are likelier to choose products or services from brands they trust and believe in.
Decreasing sales: Businesses that do not rebrand may see a decrease in sales. This is because customers may be less likely to buy from businesses they do not see as relevant or up-to-date.
Damaged reputation: Businesses that do not rebrand may see their reputation damaged. This is because customers may see businesses that do not rebrand as being outdated or irrelevant.
Increased marketing costs: Businesses that do not rebrand may have to increase their marketing costs to attract new customers. This is because businesses that do not have strong brands have to work harder to get their message out to potential customers.
Creating brand value is essential for businesses that want to be successful in today’s competitive marketplace. Companies that do not rebrand may find it difficult to attract new customers, retain existing customers, and compete with other businesses with strong brands. The risks of not rebranding are significant, and businesses that want to be successful should take the time to create and build a strong brand.
Clarity is your best friend. So is Authenticity
Be clear about your brand’s purpose: What do you want your brand to stand for? What are your core values? Once you know your brand’s purpose, you can start to communicate it to your customers through your marketing and branding materials.
Be consistent with your branding: Your brand’s logo, colors, fonts, and messaging should all be consistent across all your marketing materials.
This will help customers recognize and associate your brand with your core values.
Deliver on your brand promise: If you promise your customers quality products or services, you need to deliver on that promise.
If you don’t, you’ll damage your brand’s reputation and make it difficult to attract new customers.
Listen to your customers: Your customers are the best source of information about what they want and need from your brand.
Ensure you’re listening to and using their feedback to improve your products or services.
Be innovative: The world is constantly changing, and your brand needs to change. If you’re not constantly innovating, you’ll risk becoming irrelevant.
Creating and building brand value is an ongoing process but worth the effort.
By following these tips, you can create a strong brand that will help you attract new customers, retain existing customers, and compete with other businesses in your industry.
Create a space to allow the authenticity of your brand to shine.
As part of our process of creating brand value, this means editing your message. Creating brand value makes the brand’s profits soar.
We must make hard choices and focus on the single most crucial space the brand can occupy.
Because the markets today offer so many choices and make so much noise, brand value distills into getting through your customer’s filters.
Understand your target audience as people, not cliché
This is how you find an authentic space. Considering the usage and attitudes is not nearly enough.
At Stealing Share, creating brand value demands, we know more about the prospect than what they do and use. We need to know more. The power of your brand is directly proportional to how well you know who they are.
The importance of market research in creating brand value
We like to field market research. The quantitative research that we invented allows us to measure qualitative ideas. Not every client has the budget for this. But if they need certainty, like with a rebranding or a brand launch, we insist on it. After all, the importance of brand value is not in question.
But we have an answer if your goal is to update your brand and adjust its meaning to adapt to market changes. It’s called our Perceptive Behavior Model.
We invented this modeling to allow our strategists to uncover the belief systems that define your target market. This modeling still amazes us. It reveals a roadmap connecting all your customer’s needs and wants, but it identifies the belief that created those desires.
It allows us to accurately predict what aligning the brand with a vital belief structure will cause to happen. Revealed beliefs are where brand persuasion starts. Understanding the power of beliefs makes the brand dynamic and not static.
It elevates it to a magnetic place. Coupled with authenticity, this is the winning formula.
Creating brand value to weaponize your brand
Claim and own the highest emotional intensity. Creating brand value is a science. Like chemistry, there are rules. Emotions are the oxygen that causes the brand to ignite like a beacon—creating brand value by unlocking emotional power.
Other branding companies will tell you about the theories of brand equity. We burned all of those in a bonfire.
R&D and company owners have the responsibility to create the logical need. Hopefully, the product or service at the root of your brand fulfills a critical need or want.
That is their job. We claim the highest emotional intensity and build that into the brand. That is the job of brand strategists. You only sell a product or service advantage without that compelling emotional connection.
Does that work? Obviously not. You know the proof of that. Is the market leader the best product or service? Purchase decisions are emotional choices. And emotional decisions are personal.
They define who we are and what we do. Therefore, the goal is to tie the highest emotional intensity to the belief systems we identified.
It is the art of creating brand value
We have a successful brand process. Call us and ask us to prove it.
This is just the beginning. But we hope it helps to see the brand differently. It is not taught this way in any MBA program or marketing curriculum. In the end, all customers crave to buy themselves.
Traditional branding thinks they buy a product or identity. Our process does not. Stealing Share created it in the crucible of today’s markets. Our clients are rarely market leaders.
They are hungry for growth, interested in creating brand value, and driven to knock off the market leader and steal market share.