Why Is Branding Important
“All things are subject to interpretation. Whichever interpretation prevails at a given time is a function of power and not truth.” ― Friedrich Nietzsche. This quote pretty much sums up why brand perception is important.
Very often, it does not matter how well or good your products or services are. If your customers do not feel the same way about a certain product or services on the values or advantages it brings, then your business will struggle with bringing new sales and elevating brand loyalty.
Let’s deep dive into brand perceptions - what it is and why it matters.
What Is Brand Perception?
Brand perception is how a customer perceives and feels about a certain product or service. It is how a brand makes them feel. Contrary to popular misconceptions, a brand is more than just an opinion.
Brand perception brings about the type of audience you attract. These will affect the type of partnerships your brand can attract, the type of malls your brand will enter, the price point of your products or service and many other factors.
Why Is A Strong Brand Perception Important?
Building a strong brand perception helps promote brand loyalty as well. Just think about it, why do Apple have such successful iPhone launches every time they introduce a new iPhone to the market?
Despite having strong competition, such as their competitors bringing about newer and better cameras, iPhone sales stay strong year on year.
Brand perception sets the tone for building future customer relationships. The ability to let customers choose your brand over competitors is vital. Brand perception improves customer loyalty and retention, uplift sales and promotes higher LTV with lower acquisition costs.
I cannot stress enough how important it is to understand exactly what customers want and how brands give customers the perceived value of how they view and interact with a brand. When the marketer truly understands the brands, only then will he/she be able to craft marketing strategies that fits the brand.
Spending time to understand and building a strong brand perception helps to build trust with your audience. This gives you an added advantage to stand out from competitors. These will in turn lead to higher profits. As long as you spend time to understand your audience and touch them emotionally, you will be able to enjoy repeated purchases from the customers.
How To Measure Brand Perception?
Brand Perception Survey
Surveys are beneficial when you need to understand how your customers think about you. This will help you make informed decisions to improve your brand, to increase sales. Through surveys, you can discover new information on the opinions and preferences of your customers. This will be useful when you are developing the new product lines and marketing campaigns.
Ask long-term customers:
How do they perceive you now, and how has this changed over time? What influenced their perception?
Ask new customers:
‘Why us?’ Knowing what the deciding factor is and seeing how customers compare you to other brands is vital information. Especially if it’s still fresh in their minds.
Ask recently lost customers:
Find out why they left, so you can improve. How could you win them back? What was it that they initially liked, and what happened to it? This will help you prevent making those mistakes in the future.
Your brand perception should never just be looked at on its own. While people could love you, if they love your competitor more, you still lose. Find out what the general perception is that people have for competing brands to get a better understanding of your place in their world.
Social Media Measurements
Social media is a game-changer. With brand advocates, influencers, online reviews and more, customers can literally engage with your brand 24/7. Measure your social media content, hear what customers have to say about your brand through social media platforms.
We have selected a couple of social listening tools for you:
· HubSpot Social Media Management Software
· Sprout Social
Learn more about other social media listening tools here.
Monitor Online Reviews and Comments
With all the marketing campaigns and social media interactions, you have now driven a lot of brand awareness. Read the online comments and understand how the customers perceive your brand.
Very often, we can find room for improvement through negative reviews or comments. Dealing with negative reviews timely is also an important measure to take. Customer support and interaction is important in boosting a positive brand image.