When it comes to marketing, your brand defines success. The value of your brand, or brand equity, is established after customers have steadily formed opinions about your brand through use, reviews, and repeated exposure. Of course, the better a brand is represented, the better a company’s equity.
Why Your Brand Matters—Building Brand Equity
Did you know that 72% of marketers think branded content is more effective than advertising in a magazine? And 69% say it is superior to direct mail and PR.
At CMG, we believe building brand equity starts with the customer experience—and the customer experience starts with employees. We take a holistic approach to defining the customer experience. Every employee from the mail room to the board room is a valuable asset in building a better brand. Each experience is a touchpoint worth exploring.
A great brand means higher premiums, margins and profits. Customers expect their favorite brands to move up and to the right. So should your equity.
Our brand equity building strategy involves working in teams to ensure brand strength.
We help you find answers to these simple questions:
- How do your customers perceive your brand?
- Are your company’s services and products reliable?
- What can you do to ensure customer loyalty?
- Is your customer service addressing problems identified by your customer base?
Once we’ve identified your brand strengths, we sprint to success with the following methods:
- Marketing diagnostics and brand strategy building
- Consistent messaging with the appropriate brand voice
- Iterative marketing tests to determine the best ideas for your market
- Progress measurement, repeated weekly, monthly, yearly to reach peak results
A CMG Brand Success Story
Mike O’Toole with Marketing Profs points out that “All brands are stories, and a good way to get started is to document and share your best corporate stories.”
Our most recent brand equity building success involved a major telecommunications and technology provider that was suffering from low consumer affinity. We worked to restore the brand as a major media provider, a promoter of technology, and a curator of experience.
How We Did It
We set up four major milestones to recapture the brand image.
- Describe a compelling and evolved brand position.
- Create a destination for the brand based on quantitative metrics and targets.
- Express the brand vision across multiple customer touchpoints.
- Provide a framework for brand-driven decision-making for the whole organization.
With these milestones in place, we reestablished the brand benefits through target market analysis, category exploration, and benefit-mapping. This strategy proved successful as they implement our solutions daily as part of their company message throughout headquarters.
For over 18 years, CMG has collaborated with some of the world’s fastest-moving companies to achieve an uncommon ambition: Potential Realized. Our work has generated over $1 billion in revenue for equitable Fortune 1000 companies such as BlueCross Blue Shield, bp, Motorola, Sprint, and StateFarm. With inventive thinking, collaborative execution, and agile response to fast-changing market dynamics, we move our clients up and to the right.
American Marketing Association: http://www.marketingpower.com/_layouts/Dictionary.aspx?dLetter=B#brand+equity
Marketing Profs: http://www.marketingprofs.com/8/building-brand-equity-for-small-businesses-otoole.asp
Brand Statistics: http://www.business2community.com/social-media/104-fascinating-social-media-marketing-statistics-2014-2015-01084935#zIQ8a8zUHcTpxY3u.97