Prices and features are not sufficient to compete in crowded markets. An alternative cheaper or slightly improved product may manifest itself overnight. Brand value is the real thing that stays, the feeling, trust and emotional bond of people towards your brand.

This is why the development of brand value has become a strategic priority. Once you create value in your brand not as an accident, you do not simply get more customers, you get them longer, premium prices and new entrants far easier.

This learning handbook will take you through the most fundamental pillars of brand value generation and demonstrate how to make your brand a strong competitive tool.

What Is Brand Value Creation

Brand value creation is the process of continuing to formulate the ways people perceive, experience and gain benefits by your brand. It is more than logos and taglines. It’s about:

• What you guarantee to your customers.
• The experience that you make us get each time.
• The emotional and functional utility that people have of you.
• The loyalty and referrals that you would have gained over time.

You generate brand value in easy terms when the customer is always convinced that this brand is more valuable than the others.

The reason Brand Value Creation is a source of Competitive Edge

Strongly perceived brands can receive a number of tangible benefits:

• Pricing power: You are able to charge higher without loss of customers, as people are sure you are worth it.
• Customer loyalty: Customers who are loyal will have less chance of switching even in cases where the competitors are engaged in cutthroat advertising.
• Reduced acquisition cost: Strong brands experience word of mouth, referrals and free traffic.
• Faster growth: With the trust towards your brand, people will feel less hesitant to use your new services or products.

It has been postulated by several industry research works that highly perceived value brands generally have higher margins and quicker expansions in comparison to lesser known brands having the same product.

Pillar 1: Explain Your Special Brand Promise

Any powerful brand has a clear, convincing promise behind it, what you are, what the customers can rely on.

Ask yourself:

• In what particular difficulty are we more efficient than others?
• How do we want customers to think about us?
• What do we want to be said in a sentence?

Your brand promise should be:

• Simple- Easy to recite and repeat.
• Relevant -Meets a practical need or want.
• Defensible -Something you can really give over time.

Example:

A marketing consultancy may assure:

• Strategies that will make online growth predictable, not stressful, and clear, data-driven.
• Web copy can then be guided by that promise as well as client onboarding.

Pillar 2: Concur Brand, Experience, and Operations

Messaging is not enough to create brand value. The experience has to be the same as the story.

In order to make your brand and operations coincide, concentrate on:

• Customer journey mapping: Determine the key points of contact: first contact, onboarding, support, renewal.
• Experience standards: This is where how fast you respond, how you deal with problems and how you communicate.
• Internal training: Ensure that all of the teams know the brand promise and its meaning in their day in day out work.

When your marketing tells us that you are responsive and proactive and leave tickets unresponded in days, you kill the brand value. Consistency is everything.

Pillar 3: Develop Emotional and Operational Value

There are the two dimensions of brand value:

• Functional value The utility: performance, dependability, features, results.
• Emotions value: What your brand makes people feel; confident, supported, inspired, safe, proud.

To strengthen both:

• Report quantifiable outcomes (time saved, revenue gained, errors reduced).
• Put stress on the security, trust and reliability among risk-averse audiences.
• Appeal to storytelling to demonstrate to the customers how their life or business is enhanced.

Example:

An ecommerce brand of modest scale could build value by:

• Delivering expedited and dependable delivery (functional value).
• Telling real-life stories on sustainability and impact (emotional value).

They are a good enough cause to prefer them to the generic markets.

Pillar 4: Positioning Differentiating

Creation of brand values is most reliant on positioning – how you want your brand to be perceived compared to the competition.

You may distinguish by:

• Niche focus- Providing a member of a certain industry or audience in a better way than anyone.
• Quality leadership – Reputed as quality and reliable.
• Innovation- Introducing new smarter solutions to long-term issues.
• Service excellence -Showing human, understanding, and responsive services.

In order to sharpen positioning, carry out a bare bones audit:

• List your top 3 competitors.
• Record what they say and the way they look.
• Determine the cracks or unmet needs that they neglect.

That is the space where you get to build your own brand value.

Pillar 5: Be a Communicator, the Communicator of Channels

The most appropriate brand strategy cannot work in case of unreliable communication. The customers are to feel that they are addressing the same brand regardless of whether they are on your web site, reading your emails or scrolling the social media.

Ensure consistency by:

• Determining brand voice (tone, vocabulary, style).
• Establishing messaging pillars -3-5 primary themes that you use in content and campaigns.
• Same logo rules, color scheme, typesetting and patterns.

Memorizing is strengthened by constant communication. Customers immediately know you over time – and being known is perceived value in itself.

Pillar 6: Establish Real Measures of Brand Value Creation

Brand value may sound abstract, however, it is possible to trace brand value by using specific indicators. Useful metrics include:

• Net Promoter Score (NPS) -How likely customers are to recommend us.
• Customer Lifetime Value (CLV)- The total revenue of the relationship with a customer.
• Repeat purchase rate / renewal rate – The frequency of repeat customers.
• Banded search volume – What is the number of people who search by your brand name.
• Ratings and sentiment Review Ratings and Sentiment.

These KPIs should be monitored as you roll out new brand value creation programmes (better onboarding, better support, more explicit messaging). In the long run, they will either demonstrate that your brand is attaining actual competitive strength.

Actionable Items on How to begin the process of creating Brand Value

To bring this to reality, the following are the steps that you can undertake at this moment:

• Make your story clear: Use one paragraph and write a brand promise and circulate it among your team.
• Test your touchpoints: Use your webpage, e-mails, and support channels as a new client. Note any disconnects.
• Optimize one experience: Select one critical moment: e.g. first purchase or onboarding, and revamp it to make it more orienting, friendly, and helpful.
• Provide evidence: Demonstrate testimonials, cases, and clear statistics at points of choice by the prospects.
• Periodically review: Your strategy on brand value should be reviewed and revised quarterly.

Minor, continuous changes magnify and become a huge, uncontested competitive advantage.

FAQs on Brand Value Creation

1. What is brand value creation?

By creating brand value, it is the deliberate creation of what people think of your brand in terms of usefulness, reliability and emotion. It is the act of transforming your brand name and making it an asset that will appeal, maintain and delight the customer as time goes by.

2. What can a small business do to build a good brand value?

Begin with defining a clear niche, an excellent customer experience, and constant communication. Develop credibility using first-hand testimonies, social testament and trustworthy service. You do not require a giant budget, you require being straight, being steady, and being really concerned with your customers.

3. What is the duration of brand value creation manifestation?

Brand value is not created in days but months and years. Within several months, you can observe such early indicators as improved feedback, increased engagement, and more branded searches. Close loyalty, referrals and pricing power are usually created through long-term efforts and continuous supply.