Brand Equity

CampaignDrive’s distributed marketing platform increases brand equity for franchise companies by allowing regional locations to access and create on-brand marketing materials needed to build a strong brand presence.

What Is Brand Equity?

Brand equity is the perceived consumer value of products or businesses with memorable and recognizable names. Businesses attempt to build positive perceived brand value for consumers by swaying opinions using marketing tactics. Companies within the same sector often compete over brand equity as it is a major indicator of strength and performance.

How to Maintain Brand Equity

As brands grow, it can be easy for brand equity to become diluted. While maintaining a brand is a challenging task, it’s vital to ensuring consumers positively view your brand and scaling your businesses growth.

Brands can strengthen their brand equity by focusing on a range of aspects of their business from their communications, product and customer service. Here are a few ways organizations can maintain brand equity, even if they’re growing at a rapid pace:

• Differentiate a Product: Make sure you consistently deliver a quality product or service to your customers while also setting your offering apart from the competition.

• Brand Image: Ensure that with the brand image, which includes messaging, font, color scheme, logos to name a few, you communicate with consumers consistency across all locations and marketing platforms.

• Deliver Value: Make it a top priority to continue delivering customers value, so they keep buying your product or service and develop strong brand loyalty.

• Human Connection: Regardless of how quickly your organization is growing, always remain human to be relatable and relevant to your customers.

Brand Equity for Franchises

Maximizing brand equity is a key tactic of successful franchises. By creating a consistently positive brand experience across business locations and social channels, customers begin recognizing and associating the franchise with positive connotations. This can strengthen brand equity, allowing franchises to better compete with local competition.

It is important to keep in mind that once brand awareness is established, customers begin to build expectations that companies need to meet to foster positive brand equity. That is why maintaining brand compliance across all franchise locations is vital to meeting customer expectations. Not only should the look and the feel of locations be the same nationwide, but all marketing materials including flyers, menus, and coupons should all be the proper brand colors, use the correct logo, and similar messaging.

Distributed marketing platforms, like CampaignDrive, are great for maintaining brand compliance for franchises. By centralizing pre-approved marketing assets in an organized system, franchisees can access core branded materials and add quickly their own local personalizations to use in timely, local campaigns without waiting for edits and approval from the corporate team.

Build and maintain strong brand equity and compliance across franchise locations with CampaignDrive as your distributed marketing partner. Our platform is proven to be easily adaptable, fast to implement, and includes training and support so franchises can save time to focus on growing their brand.

Sources: 
http://www.nielsen.com/us/en/press-room/2016/nielsen-75-percent-of-global-consumers-list-brand-origin-as-key-purchase-driver.html