Brand value is the ‘perceived value,’ or how frequently consumers choose one brand over competitors. When consumers believe a brand is distinctive and in line with their personal beliefs, it creates a significant competitive advantage.
Here are 7 suggestions on what you can do to immediately add value to your brand:
Stay on top of your customer needs:
Develop strong ties with your A-level clients, keep an eye on their issues, and maintain “high touch” contact with them. The relationship may be strengthened, and your network can be expanded at the same time by frequent customer visits, evaluations, and networking events.
Be visible to your customers:
A smart method to let your customer know you are continually developing is to provide an updated version of your product or tag on a free service. Make your customer believe that having you around makes their lives easier.
Know your competition:
Be aware of your competitors and keep an eye out for what others are doing. Prepare to compare your value proposition to that of your rivals. You must be able to support your claims with evidence. You’ll become more competitive as a result, just as how all restaurants provide smaller quantity meals in their own unique ways.
Try new ideas:
If your market is heavily commoditized, you should consider where your profits come from. Many times, competing just on price or service is useless. Try out novel concepts, such as the “freemium” model, where you can initially offer portions of your products or services for free before charging for value-added services or premium accounts.
Doing business with your organization should be a positive experience from beginning to end. Consider your customers’ needs and strive to make each process as seamless as feasible. They should be aware that they may get in touch with you with any issues and that you will do it in a timely and efficient manner. This also gives word-of-mouth advertising excellent leverage.
Include a human element:
Many businesses don’t put enough effort into humanizing their brand. Customers may feel disconnected as a result. They must sense that they are more than just clients. Logos, slogans, taglines, and websites are merely pointers; they are promotional tools. Allowing your customers to contact you in interesting ways in addition to through your newsletters, pamphlets, emails, and phone calls can aid in the expansion of your business. Don’t be afraid to use your imagination; host events, start a blog, or interact on social networking sites like Twitter, LinkedIn, and Facebook.
Give your customers something extra in exchange for remaining with you or using your goods and services, much like a rewards program. It might be a pair of baseball tickets, a gift card, or a discount for future transactions.