Consumers remain loyal, sometimes irrationally so, to brands because they offer more than just products or services; they have extra value. The perceived value is the motivation for a customer to keep buying a particular brand.
Conceptmrk.com, an advertising agency in Utah cites the following ways on how you can improve brand value.
Create a Perceived Link to a Tangible Advantage
One of the most tried and tested branding strategies that create value is to build a connection between your brand to a tangible benefit that a potential customer is looking for. The advantage can be a result or an experience that is meaningful to your audience. Provide this through the products or services you offer or any aspect of the marketing mix.
Frame a Mental Context
This is a concept that lets a customer link unrelated facts like your marketing activities by leading intent. An example of this would be stumbling upon a hotel such as the Hudson or Royalton, both promise comfort and memorable experiences; however, if you know you will stay in a boutique hotel, your experiences may be different. This creates a perceived difference between hotel types or rooms within the same place. This leads potential customers to look for the differences, make connections to your brand and frame their mental context.
Direct an Experience
Brands that use this employ the concept of the placebo effect; you create an expectation through marketing activities to produce an experience that is richer than what your products or services alone can offer.
Deliver a Message
This strategy creates a symbol that is recognizable; this allows a customer to make certain statements or express a distinct emotion. De Beers, a diamond brand, made their products as a means to show commitment, making the fact of the indestructibility of a diamond a metaphor for a long lasting marriage.
These approaches allow you to create lasting brand value and positive associations with your company’s products or services.