3 Tips For Improving Brand Equity Through Brand Awareness
What is Brand Equity, and why should you care?
Brand equity is the value, or perceived value, associated with a brand’s name by consumers. The perceived value of a brand is determined by how its consumers experience it; it is their feelings, emotions, and opinions associated with that given brand. When a brand successfully creates a positive association with its name, consumers are more likely to choose that brand over a competitor, known as positive brand equity. On the other hand, negative brand equity occurs when consumers prefer the competitors over that brand.
Creating positive brand equity is beneficial because it sets you apart from your competition so that consumers can see the added value of working with your brand over another one. Positive brand equity is the goal because it allows a brand to gain more market share, charge more premium prices, and have a solid positive reputation.This article will explore 3 tips to help you achieve positive brand equity by enhancing your brand’s awareness.
Building brand awareness is essential in building positive brand equity for your brand. Brand awareness is achieved when strong associations are created between a brand and its brand category through repeated exposure. By continuously exposing potential consumers to your brand, you improve consumers’ recognition and recall of your brand.
Building brand awareness is the first step in working towards positive brand equity because it makes a brand more prevalent in the consumers’ minds. Later comes working on brand image, which I will explore in a future post. For now, let’s dive into some tips on building your brand awareness and gaining visibility as a fitness professional.
3 Tips to Build Brand Awareness:
- Social Media: Get started now if you don’t already use social media as a personal trainer. While you’re early in the process, it may seem kind of like a waste of time, but don’t get defeated. As your business grows, so will your social media platforms. Creating social media for your brand isn’t all about the number of followers or likes; it’s about connection. Social media is an excellent way for customers, and potential customers, to interact with you and get to know you. These interactions with your customers can help you gain more visibility and ultimately grow your presence, thus improving awareness around your services.
- Curate a Virtual Community: Get involved with your niche online communities. Get engaged with virtual communities by interacting with, collaborating with, or even partnering with other bloggers or fitness businesses to make guest appearances. Collaborating with other figures and influencers in your space will allow you to tap into their networks. Building up a virtual presence is crucial as you grow your brand because it helps you build a sort of biography of who you are, what you do, and most importantly, it proves why people should trust you. In an increasingly digital world, having a virtual footprint is essential. If I can’t google you, do you even exist?
- Immerse your brand in your local community: Connect with your local physical communities by building local networks and creating partnerships. Does your local athletic store host free workouts? Teach them! Is there a local business you can partner with to host an event? The possibilities are endless and should not be ignored. Building a local network helps improve word of mouth around your brand, which will likely result in more visibility for your brand and more business for you!
Building brand awareness is the foundational step in achieving positive brand equity. By building up awareness around your brand, you will create higher visibility for your services, which will result in a more successful business. Stay tuned for a future post on how to improve your brand image, the next step in achieving brand equity.