Making Brand Equity Measurement Easy for YOU

As marketers when we are helping build a brand or if you are in the process of building the brand YOU, it’s important to understand the best ways to measure brand equity, as, in the process of doing so, you may find important information about the brand that will maintain and grow your brand equity. So, let’s start with the basics.

What is Brand Equity?

According to Shopify, brand equity is the value of a brand, determined by the consumer’s perception of its quality and desirability.

Now that we know this, we first must come up with a plan to track brand equity, and to do so the best way would be to:

●        Do a brand inventory by evaluating all the existing marketing efforts, whether written or visual.

●        Run qualitative research, click here to learn more about this.

●        Run quantitative research.

●        Finally, analyze the data.

Smaller brands such as Magic City Shop offer to be the one-stop shop for all pinstriping, leafing, and lettering needs; can gain valuable insights by evaluating the type of messaging shared with consumers across various platforms, including images, wording, ads, product offering pricing, and much more.

Having a clear understanding of that messaging and asking their existing consumers information about how they feel about the products and services offered by the brand in the long term can help build that trust with new consumers and maintain the brand equity with the existing ones.

Whether is a small or big brand the findings of brand equity measurement will help you understand your brand equity more easily to be able to come up with recommendations that will improve your brand equity and use the same techniques across all your platforms to ensure an accurate representation of your brand with your consumer at any point of contact.

Click here to read related content about “Gaining Consumer Attention.”

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