Guest post from Adkom
It’s a complicated question and one that has long kept marketers and finance people at odds. How do you measure brand equity?
Brand equity refers to the value premium a company gains from its name recognition when compared to a generic equivalent. It’s built on consumer perception and enhances profitability in multiple ways: by increasing sales, driving higher prices, and creating greater customer loyalty.
While there’s no agreed-upon way to quantify it, we as marketers are tasked with growing it. But how?
If brand equity is based on consumer perception, and perception has a lot to do with the relationships brands build with their customers, then one answer to how to grow brand equity may be found in the field of marriage psychology and counseling.
Read the full article: https://adkom.media/brand-lab/whats-your-brand-worth
(Out-of-home is, first and foremost, a brand-building medium. As changes in online advertising cause marketers to start thinking in terms of brand awareness advertising again, Adkom’s new Brand Lab offers actionable insights and research, such as this article, into building a successful brand.)
