Brand equity influences sales effectiveness. In a bid to make sales, the way consumers perceive your brand is very paramount. Building brand value should be placed in high esteem. Brands making waves and appealing to the emotions of clients tends to attract customers more than the brands with low value.

Brand equity represents the value that consumers attribute to a company, primarily based on their perceptions of its quality and reputation.

Organizations with high brand equity are often able to command premium pricing, as customers are willing to pay more for products associated with a trusted and recognizable brand. It is based on the perceived value consumer place on the brand itself.

According to a study on diet soda brands in the US, brands with stronger equity tend to be less price-sensitive and achieve more effective outcomes from in-store display advertising.

Also Read:Inflation: Does your brand equity justify your price point?

Consumer positive perception towards a brand can transform to customer loyalty to a particular brand, it works together to bring growth to the organisation.

A consumer’s consistent preference for one brand over its competitors can lead to the success of the brand, leading to repeated purchases and often a positive emotional connection. Brand loyalty is built through positive experiences, trust in the brand, and a feeling of connection to the brand’s values.

Brands like Nike, Apple, Coca-Cola, have positive equity on consumers. Customers tends to purchase new products associated with an existing trusted brand they already know.

However, building equity for brands is a critical task for every marketer as it grows brand visibility and increases more sales volume in the market. It also establish positive mental connection with consumers overtime, as it boosts the likelihood that a brand will come to mind when a shopper is ready to make a purchase.

Connecting with your target audience through various medium like social media, email marketing, advertising , as well as sharing your brand’s story and values on a deeper level helps in fostering brand equity.

The use of same colour, fonts and logo on every social platform helps to create consistent and gives the brand an identity.
Setting clear goals on what your brand has to offer and also delivering such promises help to build equity for brands as customers who are satisfied with a brand, are more likely to remain loyal, make repeat purchases, and recommend it to others as well.

Consumers tends to have emotional connection or may feel a sense of belonging to a product they admire, they are more inclined to stay committed especially when they view the brand as trustworthy and dependable.

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By Khairat Asokomhe