How to reach the highest level of brand equity?

Posted by admin on Jun 6, 2010 in Blog | 0 comments

Lately I am working quite extensively around brand equity. The current crisis shows clearly that short-term scenarios are doomed to devaluate business value. Brand Equity is something that you build up over years. Though there is much buzz around the concept of Brand Equity, however in reality not much is done to increase. Brand Equity is often looked from a tangible perspective, where in reality it is an intangible asset and I must say very subjective. Having said this, Brand Equity can be generated by consistently focus on customer gratification throughout the personality of a brand.

Based on our Biotic Brand Cultivation® methodology, I have linked every of 9 Key Relationship Indicators (we call then Key Growth Enablers, as they really contribute to growth) to a Brand Equity level. The ultimate level of Brand Equity is to become an irreplaceable brand. However, before reaching that level there is a long way to go. Here is how I see the different brand statuses.

Level 1: Elegible brand
Level 2: Preferable brand
Level 3: Desirable brand
Level 4: Wanted brand
Level 5: Commendable brand
Level 6: Expandable brand
Level 7: Shareable brand
Level 8: Contribute brand
Level 9: Irreplaceable brand

How can you reach each level?
Level 1 can be reached by answering the rational needs of the customer
Level 2 can be reached by become a setting the standard and conquer a referential position
Level 3 can be reached by meeting the emotional needs of the customer
Level 4 can be reached by having a passionate brand story or brand universe
Level 5 can be reached by always showing talent as brand by innovating and refreshing the offer
Level 6 can be reached by inspiring the customers to buy into the peripheral offers or to upgrade to a higher standard product
Level 7 can be reached by exceeding the customers expectations and surprise them in a positive way
Level 8 can be reached by inviting customer to contribute to the improvement of your brand
Level 9 can be reached by positively discriminating customers who are committed to your brand and building a durable relationship.

On what level is your brand? Level 1 or level 9?
Make sure that your brand is irreplaceable, than all you efforts will generate return on a short and long term.
Happy Branding