How to enhance Brand Equity
How To Build Brand Equity (10 Simple Steps)
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What's up brand builders! Stephen Houraghan here of BrandMasterAcademy.com and in
this video you're gonna learn how to build powerful brand equity so you can
increase the willingness of your audience to not just choose your brand
but to happily pay a premium.
now if you're a subscriber welcome back
great to have you as always if you're new to the channel and you want
actionable brand strategy tips and techniques to grow your business then
hit that subscribe button and the notification bell and you'll be well on
your way now if you're not sure what brand equity is if you haven't come
across the term before you just want a little bit of clarity then check out my
earlier video what brand equity is I'll leave a link in the description below
and a card above and that should clear it up for you but in summary brand
equity is essentially the value we place on the willingness of our audience to
either choose our brand or to pay a premium for our brands so when it comes
to branding brand equity is kind of a big deal so if you're building a brand
for yourself or for your client you should be doing everything in your power
to build strong brand equity and luckily for you it just so happened I have a
ten-step process that I'm going to share with you you ready
step number one build visual awareness now your logo and your overall visual
identity is often the very first touch point that your audience will have with
your brand and as humans we're able to remember visuals in as little as 13
milliseconds so it really is an advantage that your brand has if you
have a very unique brand identity so make sure you leverage that and give
your audience something to remember so they're able to easily recall your
visual brand step number two go after your position now there's absolutely no
point going into the market and trying to be the same as everybody else or
trying to follow the trendsetters and to offer something similar to what they are
offering your job as a brand builder and as a brand strategist is to clearly
define the position that you want to own in the mind of your audience and go
after that position you want to make sure that they understand what it
is that you represent so that they can place your brand in the right position
in their mind step number three stand for something now consumers are really
switched on today and there are a lot more conscious than they used to be and
they push back from brands that are all about the sale that are all about the
push marketing so if you can show your audience that you're there for more than
just that revenue then you're gonna earn a soft spot in their mind
and that will help them to remember your brand step number four communicate the
value of your difference now too many brands today go into the marketplace and
make assumptions they assume that their audience knows what they're all about
they assume that their audience understands why they're there and why
they're different but if you don't tell your audience clearly why you're there
if you don't tell them clearly why you're different and the value of that
difference they're not going to know too many brands assume that their audience
knows what they're all about they assume that they know the value of their
difference so take the time to clearly articulate why you're different and the
value of that difference to your audience and you'll give them a reason
to remember you step number five engage with personality now going back a few
years brand personality was a bit of a nice-to-have
for brands but today it's an absolute non-negotiable you cannot go into the
market today whether it's through your social posts or through your website
copy and speak like a corporate entity and sound like an entity that has no
real people behind it you need to go into the marketplace and show that you
have characteristics and engage with your audience on a human level so take
the time to understand who your audience is what characteristics they're
attracted to make sure you ooze personality going into the marketplace
step number six leverage a unique tone of voice now what you say as in your
messaging has always been very very important it tells your audience what
you're all about but the way you say it the way you communicate is becoming
increasingly different and if you have a unique tone of voice that you can engage
your audience with coupled with those characteristics from your personality
then your audience is going to feel that you are familiar
it's gonna feel like there are people behind that brand and that they're
talking to an actual person not this corporate entity so really take the time
to understand again who your audience is and to clearly define a tone of voice
and a language profile that your brand can use consistently step number seven
deliver consistent messaging so I just covered earlier the way you say and the
way you deliver your messages is really really important but what you say has
always been really really important now there's this idea that your core message
for your brand is all you need as a foundation for your brand communication
but really when you think about it a core message is a single paragraph and
today there are literally hundreds of touch points that your brand might have
with your audience so you need more than just a core message you need a set of
key messages that you want your audience to understand about your brand and over
time delivering those consistently is what will shape your audience's
perception of your brand step number eight tell stories now over the last 10
to 20 years neuroscience has uncovered the details about what we've known to be
true for literally millions of years and that is that we as humans love stories
now if you're able to tell stories about a journey that represents your
audience's journey and a journey that they can relate to well then they will
resonate with your messaging they will resonate with that story if you're able
to then weave your brand throughout that story they will align your brand with
the idea of success step number nine be accessible now growing a brand and
therefore growing your brand equity is all about building relationships and
nurturing those relationships and I can't tell you how many times I've seen
brands grow quite quickly they get some revenue coming in they get some sales
coming in and then they put a barrier between themselves and the customers and
they become less accessible so make sure that you grow organically and you take
the time to keep those relationships going to keep the nurturing going and be
accessible be accessible through social media be accessible on email and don't
put call centers or BOTS between you and your audience on step number 10 show up
consistently building a brand takes time building
a brand equity takes time it is brick-by-brick and every single message
every single social media post email it all builds those relationships and in
turn it influences your audience perception over time that influence of
your audience's perception turns into influencing their willingness to buy
their willingness to choose your brand of your competitors and their
willingness to pay a premium so remember the brand that you're building is an
asset external companies will look at your business and they'll look at your
brand as an asset with actual value so take the time to build that asset take
the time to nurture that asset and understand that over time as it grows
the value of that asset will grow as well but I'd love to hand it back over
to you now I genuinely love to hear from you about your experience when it comes
to building brand equity do you have specific processes in place specific
steps in place that you use to consistently build equity for the brands
that you build are you gonna take some or all of these steps into your own
brand equity building processes I'd love to hear from you in the comments below
if you have any challenges or questions around building brand equity let me know
in the comments below as well if you like this video please give it a thumbs
up hit that subscribe button hit the notification bell as well it'll let you
know when we've got new videos coming out if you want more actionable brand
strategy tips and techniques like this head on over to BrandMasterAcademy.com
and get yourself signed up for the list it is free and I do keep some
exclusive content for that list and there's plenty of resources on there as
well if you want to learn how to build brand strategies from scratch but again
let me know in the comments below what are your experiences what are your
challenges I'll do my best to answer all of those until next time
brand like a master and I will see you in the next video!
