How to Effectively Communicate Your Brand Value
Your brand is NOT what you think it is, it is what the marketplace thinks it is.
Achieving your desired brand perception is only possible through the effective communication of its values. To create a bond between your business and its target audience, you have to effectively communicate your brand value. This connection is based on an intentional delivery of consistent results. This is essential to succeed in a competitive marketplace where there is constant bidding in the mind of your customers against your competitors.
Seth Godin, in his blog, brilliantly attempts to define a brand's value as 'merely the sum of how much extra people will pay, or how often they choose, the expectations, memories, stories, and relationships of one brand over the alternatives.' Brand value is simply the replacement value of a brand over another. Unfortunately, these replacements may not even occur if there is a failure to effectively communicate these values to your customers.
The processes for effective communication of brand value could differ from brand to brand, business models, and types. However, successful implementation of these strategies affects building and maintaining brand reputation, trust, and loyalty which ultimately improves your stakes in the marketplace.
7 Ways To Effectively Communicate Your Brand Value
Below are the seven ways you can communicate your brand value and make your mark:
1. Value Proposition
Having a value proposition is a crucial way to communicate your brand value. A unique value proposition tells your prospective customers why they should do business with you and not your competition.
It is a short but compelling message that summarizes the benefit of your product or service in superiority over an alternative. Impact compiles a list of 31 Best Value Propositions Examples that can motivate you to get yours right. If interested, here are some great examples to guide you.
2. Role Of Brand Voice In Communicating Brand Value
You should think in terms of how best you can boost your voice, your style of communication, and your tone. Its uniqueness is your recognition. This should be the same as the voice of your brand. It is a personal and honest tone directed to the target audience and its consistency builds in their minds an emotional connection to your brand.
To develop your brand voice, assert that your core brand identity is established ideally with your winning edge, values and vision. A distinct brand voice - if executed properly - is like having a human physically convince your prospect to choose your brand over a competitor.
Your brand voice could be mild, authoritative, passive, fun, depending on your understanding of your audience. The goal is for your customers to think of you immediately when they engage with your branding. For example, the phrase ‘just do it’ is a term which most people will associate with Nike thanks to their effective branding.
3. Customer centricity
According to Forbes, brands that have superior customer experience bring in 5.7 times more revenue than their competitors.
As Forbes explains, “Being customer-centric is about more than just offering a good product or staffing a contact center. It becomes a cultural way of life for the company and impacts everything from employee engagement to customer experience.”
Customer or user-centricity is a business approach that involves putting the customer's interest first throughout the development life cycle of a product or service; making the customer the heart of the business affects decisions in their favor.
The early awareness of the needs of the customers deepens the user-brand connection and creates long term business relationships that improve business growth. What’s more, this promotes positive experiences, enhances customer loyalty, and enables overall satisfaction.
4. Promote Company Culture
Company culture is the representation of the attitudes and behaviors of a company with its employees. It is defined by the shared values which are evident in their interactions and decisions as an organization. A well thought-out company culture is a crucial factor in any attempt to communicate your brand value.
This unique behavioral pattern of an engaging organization fosters a positive workplace relationships and promotes employee satisfaction; a catalyst for improved performances and productivity. A high performing workforce increases the efficiency and effectiveness of the business, by ensuring an improved organization image in the delivery of valued services.
In a constantly populated marketplace, an increasing degree of consistency sets a business ahead of the competition. Brand consistency is the practice of expressing the company's mission, vision, and core value in uniformity.
A consistent brand value reinforces the position of a brand in the marketplace, attracting and maintaining business relationships, trust, and loyalty. This results in superior marketplace performance, an increase in the frequency of purchasing, and a higher brand relevance.
The more a brand is consistent in the delivery pattern of its value, including contents, messages, design tone, and identity, the better chances of building awareness and becoming an authority within your domain.
If you’re interested, here's a list of 7 Key approaches to learn more about maintaining Brand Consistency.
6. Digital Campaigns
Digital channels' inclusion for brands has made it easy to communicate brand value directly to customers. With direct reach to users, you can improve the quality of your service, engage with prospects, and make decisions faster.
Effective communication of brand value through digital campaigns promotes business growth by increasing engagements, traffic, and conversion rates. Campaign strategies that use relevant and compelling information or promotional contents and which are tailored to fit specific audiences are more effective. What’s more, they are more likely to increase brand presence, engage with a broader reach, and improve the level of brand value communication with a growing customer base.
What if you have done everything internally to improve how you communicate your brand value, but the conversions are still low? Have you considered an external factor? Take a back seat and let your work speak for you.
A testimonial improves a brand's credibility. It is a measure of satisfaction from a customer and with consistent value delivery, it guarantees not just their continued patronage but a high chance of referrals.
Having your customers become a part of your sales team is an inexpensive but highly effective form of marketing. Leveraging on this strategy can be achieved by the promotion of review ratings, reward programs, referral bonuses, etc.
Smart Companies use Voicelytics to add value to their Business Communications