Better Brand Equity for Start-Ups

Companies want people to recognize their logos and products, and to associate these with positive thoughts. This is because such a state can lead to better sales figures and, therefore, better revenues. To marketing teams, this is known as “brand equity.” Many large companies have little trouble maintaining brand equity, largely because they have years of presence in their given industries to work with. However, for a company that’s just starting out, they don’t have that as a choice. Instead, they need to start from scratch and hope they don’t get anything horribly wrong.

Establishing your brand is the first step towards business success

The first step is to evaluate the existing brand or base for it. The imagery and the brand should be recognizable or, in the case of a completely new business, something that people can remember easily. A complicated name is no marketer’s friend and will only make it difficult for potential customers. If the current image is unsuitable, consider altering it such that it becomes easier to remember. A brand or image that people can is in people’s heads will be easier to advertise. Being recognizable also means an easier time of letting word of mouth – an advertiser’s most potent tool – spreading around.

Once you have something people can remember, check if the brand is something that clicks with people emotionally. Most people make decisions based on feelings and emotions, and a lot of marketing efforts are geared towards bypassing logic and using human approaches. Customers that can’t connect to a given brand are less likely to be loyal customers, and every business thrives on that loyalty. If the people can like the brand, remember it, and feel some sense of connection to it, then it is a good brand.

                                  

The last part is the crucial step in getting the word out about the brand. Traditional methods include newspaper ads, TV spots, and various public events. More modern techniques make use of the Internet, particularly search engine marketing and social networking.