Build brand equity
Cost-effective ways to raise awareness for your brand
- By Fuel Net
- 6/11/2009 - 9:30am
- Marketing
A crisp new dress shirt is not going to make you stand out on a busy
intersection in Manhattan — you’re just another face in the crowd. The
same can be said for a growing business as competition stiffens and
consumers’ belts tighten in these turbulent economic times. An image
enhancement alone won’t make an impact; you need to truly engage people
in a meaningful way. Here are some tips for building brand equity with customers and prospects:
- Design for your target audience. When developing marketing materials or even a new logo as part of your brand building efforts, keep your customers’ preferences top of mind. “Picking
appropriate layouts, fonts, and photos for any marketing piece can make
it connect with your target audience much more quickly and lead to
increased sales,” says Erin Ferree, principal and lead designer at elf design, a consulting firm based in Belmont, Calif.
- Differentiate. When networking, Ted Lanzaro, who runs a CPA firm
in Shelton, Conn., never tells people he’s an accountant because it’s
too limiting in scope. “My answer is that I help business owners
develop business and tax strategies that help them make more money and
keep more of the money they make,” he says.
- Provide unequaled customer service. Loveland, Colo.–based business consultant Bill Corbett,
who owns a hard-asset loan company, promises completion of paperwork
and delivery of the proceeds from a loan in 20 minutes or less.
- Give them the VIP treatment. As part of its community-building efforts, New Jersey–based Rockn’ Joe Coffeehouse and Bistro
distributes free VIP cards to local business owners, which gets them a
discount on a cup of coffee. “When their customers see them drinking
out of a Rockn’ Joe cup, that gives us more exposure,” says owner Kevin
Brennan. “It is a nice thing to do for the community, and it’s good
business.”
- Launch a lunch-and-learn series. These
events, typically 30 minutes long, enable a small business to promote
its products or services to the local community in a more focused
environment, says Drew Stevens, PhD, president of Stevens Consulting Group
in Eureka, Mo. “Individuals bring their own lunch, and they listen to
the expertise of the proprietor,” he explains. “The sole objective is
to build relationships with attendees in the hope of future sales.”