Your brand equity is customer perception of your products and services associated with your brand. Why is brand equity so important to companies? If your brand has high irreconcilability and desirability, you can charge more for your products, and people will want them.
Apple is an excellent example of a well-known and admired brand name. While they make tablets, computers and accessories, they are best known for their iPhones. Because their iPhones have brand equity, they have about 20% of the smartphone market share. They also charge premium prices for their products, with the latest models running more than $1,000.
If you want to improve the bond between you and your customers, you must enhance your brand’s equity. Many different elements come into play, and lots of them occur on your business website. Here are a few features you can add to enhance your brand’s appearance and desirability via your site.
1. Communicate Your Values
What does your brand mean to you as the owner? What does it mean to the employees? Do consumers see it in the same way? Your first step on your business website is showing site visitors your core values. You might have a purpose, such as donating to a specific charity. Maybe your goal is to make your customers’ lives easier.
You can communicate these values by telling your company story, sharing a mission statement or highlighting the causes you help. Just make sure the message is consistent each time you offer it.
Everlane promises radical transparency, and they follow through by sharing details about their sustainability initiatives and how they make their products ethically. You can rest assured you aren’t buying items made by children in a sweatshop overseas when purchasing something from this brand. They pride themselves on sharing who makes items and how.
2. Own Your Differences
How is your brand different than your competitors? Think about what makes you unique. Consider the benefits you offer to buyers. Once you know what makes you stand out, promote it. However, brand equity goes much deeper than merely communicating who you are.
You must consider if each product you sell matches your integrity as a company. If something doesn’t quite live up to the quality or standards you’ve set, then it’s time to replace it. Every interaction customers have with you or your products must match your core values, or your equity reduces.
3. Choose a Color Palette
The colors you use to showcase your brand say a lot about who you are. There is a psychology to different colors. You can convey excitement, reliability or youth all by the shades you choose for your website.
As with every other aspect of building your brand’s equity, you must be consistent. Once you choose a color palette, include the information in your style guide and use those same hues in all communications with customers.
Armstrong Flooring uses a deep cobalt blue, which reflects reliability and endurance, something users want in flooring. Note the accent colors contrasting beautifully with the blue, such as a splash of yellow or white for accent. The landing page design puts the full focus on the flooring and how it works with different decor. The hero images rotate, showing the variations in floor types and looks.
4. Reshape Negative Views
Every brand stumbles along the way as it finds its footing and learns the ins and outs of doing business. You may have a few anti-fans who enjoy bashing your name. When you can reshape those viewpoints into something more positive, you’ve re-identified yourself as a brand. Start by making a statement about your customer satisfaction guarantees.
Next, search for mentions online of your brand and make sure they are positive reviews and not poor ones. If you find a negative comment, reach out to the person and see what you can do to make it right. While they may or may not amend their harsh words, you’ll still win their respect and show you care about your customers’ opinions.
5. Ask for a Chance
Users may have never heard of you before. You’re asking them to trust you with their hard-earned dollars. Find ways to ask for a chance and offer them a lower investment point. If you sell a service, provide a free trial or a smaller version for a lower price point. If you sell products, have a variety of prices. Look for ways to give free shipping or discounts to first-time customers. Perhaps a money-back guarantee would make them feel more comfortable.
Birds & Blooms lists the benefits of subscribing to their magazine and then offer a 75% discount and free access to the digital version of the publication if you subscribe for two years instead of one. They’re asking you to take a leap of faith and invest in their magazine, but they’re providing a considerable discount when you do so.
6. Highlight Brand Loyalty
Brand equity builds over time as loyal customers tell others about your products. While you can’t completely control how others see your company, you can do things to improve your chances of making a positive impression.
Showcase testimonials on your page. Showing potential customers that others are happy with your brand proves you have excellent customer service. Encourage people to sign up for mailing lists, offer rewards for repeat orders and encourage referrals.
Build Equity Over Time
Building your brand equity isn’t going to happen overnight. It takes months of hard work and consistent effort. As more and more people learn how great your brand is and start to talk it up, you’ll gain traction simply by your name. People judge you based on their experience with your brand and what their friends say. To make your brand equity soar, guarantee each person walks away with a positive impression of your company.
Lexie is a digital nomad and web designer. When she’s not traveling to various parts of the country, you can find her at the local flea markets or hiking with her goldendoodle. Check out her design blog, Design Roast, and connect with her on Twitter @lexieludesigner.