When talking about brand equity, it’s important to understand that a brand is far more than a just a logo.
It’s not a job, it’s not just the pictures and colours that we put on our business cards – it’s a behaviour that is engrained and exists in every aspect of who we are, what we do, what we give, where we give it, and why we do what we do.
Creating true brand equity is a lot like buying a home and paying a mortgage. This process of paying a mortgage is generally about building equity in your investment so that one day it can pay you a dividend. When we don’t have to pay that mortgage anymore we have a life of choice. We can use that money to do a variety of different things – usually the things we love. We can start ticking items of the bucket list. When we’re building brands, it is no different.
To build brand equity we must first invest. We should consider investing across four channels of behaviour and connection that will build the value of our brands. When we achieve that goal, we gain the liberty of choice to play with and enjoy our brands, and take them to places we only dreamt of going before. These four brand-building action mindsets are built on the concept of Feel It, Hear It, See It and Believe It. Each require investment and build value, so when they work in concert, they build valued equity.
Feel It
It’s important that the people you work with and for can tangibly feel your passion for what you do. Do something today that allows your customers or your staff to feel your passion for your craft. Rather than just selling them something, get them to feel something, as this connects them more deeply to who you are and why you do what you do.
See It
Make your successes and abilities visible, and celebrate them. Let everyone see what you’re about and how you’re achieving success. Make sure to build case studies, testimonials and environments that profile your accomplishments, and don’t forget to let people see how you create success for others. It’s vital that your staff, your market and your community see how you are connected to your world of achievement, and never take it for granted that they understand what you are achieving. Let others see your customers celebrating what you have done for them.
Hear It
Talk about your triumphs, your visions and values, and create opportunities to discuss it everyday. It’s important that you build your achievements and your brand promise into every script and communication that leaves your brand’s lips so that others can hear it. Create opportunities for conversations, but show your passion to listen first.
Believe it
Stay true to your brand promise. Never fail to deliver on it; never vary from it; and constantly tune in and tune up who you are being, so that you stay on brand. Remember, brands that succeed know who they are and stay on script, but they also make a strategic commitment to reinventing themselves. Tune up and tune down as required, but always play in tune.
Your brand is not a product, it is a process, and to build brand equity you must Feel It, Hear It, See It and Believe It everyday for it to pay dividends and result in a return on your investment.
