Strategic pathways to building Brand equity
Brands are equities, i.e. they have material value. There are two strategic paths to building that equity, constructing a story about that Brand that makes what it offers inexorably appealing to a a group of people (Branding as Equity) and establishing and growing the profitability of that clientele (Customers as Equity).
My approach to building a persuasive, impactful Brand story is outlined on the Laddering page but I know (or at least believe from my years at Y&R working with Brand Asset Valuator) that it is rooted in establishing the Relevant Differentiation of the Brand, building on that foundation a full Knowledge of the range and Esteem for the high quality of what the Brand offers.
Acquiring customers is tricky and expensive. No message can be more impactful in acquiring and retaining customers than the actual product experience -- thus trial offers -- but a meaningfully relevant message from the Brand can persuade folks to consider and possibly induce them to try its offerings.
Once you have established an initial relationship with a customer, the strategic challenges of Loyalty kick in: What can we say and do to get them to buy more? To try more of the stuff we offer? To do so because they actively choose to, want to?
My approach to building a persuasive, impactful Brand story is outlined on the Laddering page but I know (or at least believe from my years at Y&R working with Brand Asset Valuator) that it is rooted in establishing the Relevant Differentiation of the Brand, building on that foundation a full Knowledge of the range and Esteem for the high quality of what the Brand offers.
Acquiring customers is tricky and expensive. No message can be more impactful in acquiring and retaining customers than the actual product experience -- thus trial offers -- but a meaningfully relevant message from the Brand can persuade folks to consider and possibly induce them to try its offerings.
Once you have established an initial relationship with a customer, the strategic challenges of Loyalty kick in: What can we say and do to get them to buy more? To try more of the stuff we offer? To do so because they actively choose to, want to?
