Small Business Owner

5 Ways To Improve Your Brand Value.

Brand value is the extra or added value of a company or product on its actual price tag.

This extra value differentiates a branded product from an unbranded product, for which people are ready to pay the price.

P.S. We will use the terms ‘brand value’ and ‘brand equity’ interchangeably throughout the article, as they are closely related to each other.

In business language – Brand value is the net present value of future cash flows of a branded product minus (-) net present value of future cash flows from its unbranded counterpart.

Or,

BRAND EQUITY = Net value of total outstanding shares of the company in the stock market  Net assets

Meaning of brand value for general public or consumers: Consumers have strong faith over branded products than unbranded ones. They happily pay the extra money for the added value they see in branded products.

People even feel proud and love to flaunt their branded products and accessories to show their status in society. And this trend is quite prevalent in the younger generation (20 to 40 yrs old) who drive the country’s (world) economy.

How to Improve Brand Value


1. Keep it simple

Make your products or services as simple, and as user-friendly as possible.

Take for example – Apple makes a few simple yet feature rich products that are extremely user-friendly. That’s the reason every person on the earth wants to buy a piece of Apple product, be it an iPad or an iPhone.

2. Quality product

This is the backbone of every successful business, so also of every successful brand.

Buyers seek quality products. No matter whether it’s an online software or an offline physical product, it should be of good quality and durability. Why people buy Reebok or Nike shoes? Simple – these brands offer quality.

Your aim should not only maintain the present quality but also augment it with every passing month and years. High-quality products of a company increase brand value.

3. Added value

This is the reason public ready to pay the premium price for branded products and services.

Consumers see the extra or added value in branded products than their counterparts – non-branded ones. So, offer your consumers extra value than the price tag of the commodities.

To improve the brand value of a product, offering added value, over and above the price to consumers is most important.

4. Best customer care

Both pre-sale and after-sale services with better communication between buyers and sellers increase the brand value of a company.

Good customer care instills faith in your brand and products, which inspires them to buy your products again and again. Your customer care executives and salespersons should be cordial, transparent and good communication skills.

To implement better customer care, accurate survey and feedback, along with regular training of sales executives and personnel are of utmost importance.

5. Wide publicity

Advertisements and campaigns in both electronic and non-electronic media make a good image inside the consumers’ brains.

Well executed Ad campaigns improve the brand value and help consumers to recall the brand while buying products. To create better brand equity, a simple yet easy to remember logo also plays an important role.

| Read More: How To Improve Brand Value for Better Business

This post was published on August 7, 2020 10:03 AM

Anant Vijay Soni

A passionate blogger and serial youtuber, timely efforts, and dedication are the key protocols that keep me succeeding. I love to share information about WordPress, SEO, Social Media Marketing, Affiliate Marketing, Make Money Online, Email Marketing and much more.

Leave a Comment

View Comments

  • The five tips you shared are really precious for me to grow my small business.
    Thank you and keep sharing such blogs.

Share
Published by

Recent Posts

  • Artificial Intelligence (AI)

The Impact of Artificial Intelligence on Digital Marketing Strategies

In the digital marketing world, Artificial Intelligence (AI) has emerged as a game-changer, reshaping how… Read More

October 18, 2024
  • Social Media Marketing

10 Best Free Face Swap (Deepfake) Online for Videos and Images

Best tools that manipulate images and videos have become increasingly popular, and face-swapping is one… Read More

September 12, 2024
  • Digital Marketing

AI-Enhanced Video Content: The Next Frontier in Digital Marketing

What if you could create video content that perfectly aligns with your audience's preferences and… Read More

August 30, 2024
  • Video Tutorials

Earn FREE $100 – $500 Per Day with This Secret Strategy 2024

Hi Friends, Today I am going to share an Secret Strategy that will help you… Read More

August 28, 2024
  • Affiliate Marketing

7 Ways To Promote Affiliate Links And Get Results

Who doesn't love the sweet sound of passive income rolling in? The thought of recommending… Read More

August 25, 2024
  • Payment Gateway

10 Best Payment Gateways in India (2024)

For any digital business, having a reliable payment gateway is crucial for businesses of all… Read More

August 22, 2024