In one short sentence, the “brand” is your company and the “value” is how much your brand is worth.
Today it’s hard to imagine purchasing goods or services without a brand coming into play. Everything that revolves around branding creates its own brand identity. If you look at a product in the supermarket you will automatically determine the value of the product based on the name of the brand. This is why (nowadays) brands can be very valuable commodities that are traded between companies.
The brand value is the monetary worth of your brand, if you were to sell it.
If you want to buy a company and you want to use their name, logo and brand identity to sell their products or services, you will need to pay the market-based brand value of the company.
How to increase the brand value?
As a business (brand-owner) you can increase your brand value by promoting the brand via social media, advertising, outreach, sponsorship etc. If you want to do this effectively I would recommend hiring a marketing agency.
How to measure?
The appreciation of the value of brands means that people think deeply about it, and as a result of that, a variety of aspects is what makes a brand successful. How brands interact with the minds of customers is what you can call the true definition of a how a brand should be. Measuring brand value is very complex and confusing if there is not a strategy in mind.
With that being said, the fundamental ways of measuring the value of a brand is actually quite simple. One of the most used strategies is to ask other companies what they would pay for the rights of your brand. If you do this you will get a range of figures that you could average to determine a market value of your brand.
Why is it important?
Business owners will be spending millions of dollars on building brand awareness to make customers recognize their products and services from them. The brand value can influence the revenue of companies drastically.
Brand awareness is very important for multiple reasons. Simply because if nobody knows that your company exists it will be very hard to sell your product or service to a client. Creating brand awareness is a key step that can't be forgotten when you are launching a product or a brand.
When you want to create brand awareness amongst people you want to distingiush yourself from your competitors in order to create an original brand. If we look at the brand Coca Cola for example. Everyone knows the brand and it is not because they have a good product but because there brand awareness is massive. The identity of the brand is unique and easy to remember for people. This is also what we are trying to do at Branding Value. Creating unique brands that appear trustworthy.
At Branding Value we utilise multiple strategies to increase the brand value of companies. The main service is SEO, with SEO we make sure that your company will be found in Google above your competitors. With a professional design we make sure that visitors become actual clients. And... if you don't have a professional webdesign and there is no budget for a new one? Then we offer CRO (conversion rate optimization) to make sure that your design will convert as good as possible. Lastly we also offer branding services. From idea to reality. Exactly how you want it but with our expertise and contribution.
And this is how we grow businesses online.
How to create brand awareness
Now we know what it means and why it is important but how can we create awareness among our brand? This can be done in a variety of ways but we are going to explain a few examples below.
You can creat brand awareness via online platforms suchs as Tiktok, Instagram, Facebook, Twitter and LinkedIn. A lot of companies are closing deal with influencers to promote their brands to create brand awareness.. Using influencers on these platforms will be very succesful if you do it the right way and a lot of companies are creating great brand awareness in this way.
But how to create brand awareness offline? It can be done the old fashioned way such as advertisings masts, flyers in local stores etc. The digitial century that we are in right now makes it less and less effective to create brand awareness for companies compared to 30 years ago.
What is brand identity?
Brand idenitity is essentially everything that has to do something with your brand. Think about a logo, website, service etc.
How to create your own brand
If you want to create your own brand you have to take a few things in consideration. First of all you will have to think of a good product or service. Do research and see if you can make or do something better than others do. Be unique.
If you want to sell something you will either have to sell better or have a better product/service than others because you have to separate yourself from your competitors. Write down why you think you can do a better job than others and do research if it is possible what you are thinking about.
What now? Now that you know what you want to sell we need to make a plan for how we are going to sell and to who.
Firstly we have to determine our audience. Who is it that we are going to sell to, be specific. Write down: gender, age, branches etc. Even if you have a really good product but you are selling it to the wrong audience there will be very little to no interest in your product if they simply don’t need it. This is why you have to take determining your audience serious to avoid trying to sell to people that are not interested.
How to sell
Now that you have an idea of who your audience is and who you are going to sell to we are going to make a plan on how to sell.
Selling can be very hard and that is why you will need a plan because there are a lot of different ways in how you can sell. Are you going to sell online or offline. Let’s say that we are going to sell online. What platforms is our audience using the most and on what platforms are we going to be active. If you know this you will have to think about how you can reach your audience. This can be done by advertising on Instagram, Facebook, TikTok etc. If you don’t have an advertising budget it will be very hard to reach your audience if nobody knows your brand.
Another way to reach your audience is by using influencers and letting them promote your product/service by posting stories are posts on their feed. A lot of companies are using this method and it is one of the most effective ways to reach the younger audience because they spend a lot of time on social media and they will trust your brand faster and people are looking up to the influencers and they want the same things as them.
If you find a way on doing all these things above and your business is up and running you have to scale up your company as fast as possible if you want to grow your business. You do have to keep in mind that scaling your business to fast can be detrimental for your cashflow which can result into having to close the company because you took to much risk, so keep that in mind.
A lot of companies are using different selling methods to sell products/service to their clients. One of the widely used selling principles is AIDA. It stands for Attention, Interest, Desire and Action.
First you are getting the attention of your audience, then you have to create some kind of interest for your product/service. After this you have to create a desire for the product/service so people want it and then let them take action easily. Buying your product has to be very easy and that is why you need a good website/webshop. If the user interface and experience is bad you will lose clients and you will make a bad name.
This is why it is very important to let some professionals create a website that not only looks good but is very easy and good to use. Big companies are spending lots of money on their website such as things as conversion optimization, search engine optimization and search advertising optimization.
Make sure your online presence is good because, even if you have a local store, most people will look your company up before actually visiting it. Your website gives the potential customer the first look and feel of your company and what they can expect. So as always, make sure the first impression is good.
How to create value for your brand and for your customers
If you are thinking about creating a brand it is important for you to think about how you can actually give value to a company or an individual because if you are not creating any kind of value it will be unlikely for them to purchase your product or service. So how can we create value then? In simple terms you have to make or buy something that people will value and give their money for in exchange for your product or you will have to value your time and expertise and then people will hire you essentially to fulfill some of their needs. If you want to create a strong brand it is important to create value to your business first because if you value your business high it will be more likely that other people will value it to and then the chance of someone buying it will be much higher.
If you think that you can create value for a company you have to make sure that your offer is irresistible to get the first few clients. After you are getting your first clients you can then leverage them to attract more clients which will result in more purchases and profits. Leveraging existing clients can be done be simply contacting them via mail and give them something in return if they refer your company to family and friends. By doing this it will be very likely that more people are going to visit your website and purchasing your product/service because they trust their friends and family.
Know that we know how to create a brand/business and how to create value for your potential customers it is time to work out a plan. Think about everything that is important for your business that can maybe help you in a later stage of creating your brand. Also think about all the things on how you can attract people to your website, make a good profit. Build a trustworthy brand.
Building a brand around your company is very important because people want to associate your brand with something. Making it personal and human around your brand is good because people like things that they can associate themselves with.
If you ever want to discuss ideas on how you can create your business or grow it, feel free to reach out.
With Branding Value we design and built succesful websites. Besides that we also do a bit of branding and conversion optimisation. Our team is specialised in professional webdesign and search engine optimization (SEO).
Our goal is to increase the value of your brand. We grow companies with webdesign and SEO. The combination is the key to our online successes. A professional webdesign for the online presence and SEO to get visitors to the site for conversions and more clients & brand awareness.