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What is Brand Equity?

You are here: Home / Blog / What is Brand Equity?

June 4, 2019 by Jessica Scanlon

“It’s just easier to buy from someone you’ve heard of.”

Brand-Equity-Featured-Image-Hot-Dog-Marketing-Folder-Leave-Your-Mark-Stickers-Mug

What is brand equity?

It’s best explained through a simple exercise. What are the brands that come to mind when you see this list of needs?

I need to…

  • blow my nose.
  • make a paper copy.
  • overnight this package.
  • catch a ride.

When you have a job to do or a problem to fix, our minds only have a few seconds to think of solutions. If your company has brand equity, it’ll be top of mind when the job or problem presents itself to potential customers.

Did you think of these brands when you read the above list?

  • I need to blow my nose . . . Kleenex
  • I need to make a paper copy . . . Xerox
  • I need to overnight this package . . . FedEx
  • I need to catch a ride . . . Uber

Brand equity is one of the goals of a marketing strategy. It doesn’t happen overnight, but it is one of the primary long-term, high-value returns you get from investing in marketing consistently over many years.

Brand equity concerning a single problem or job is extremely valuable. It applies to smaller, more local companies as well. You probably have your go-to brands locally for different service needs, like the best taco or grocery store.

Achieving Brand Equity

Achieving brand equity for your unique offering requires a deep understanding of your customer’s journey. From the moment they start researching solutions to when they make their purchasing decision, you have an opportunity to market and put your brand in front of them. Then, when decision time comes, your brand is the only one that comes to mind.

Reach Your Customer with Consumer-Centric Messaging

Remember that growing your brand equity is more about your customer and what they want to hear more than what you want to say about yourself. In many cases, the approach to content, brand messaging, and campaigns are focused incorrectly on what the company thinks they need to say about themselves. Instead, think about what your customer needs to hear at different stages of their journey and adjust your message to address those thoughts.

Highly Targeted Campaigns Instead of Mass Marketing

Having a clear idea of the persona you’re speaking to with your marketing efforts can help you avoid high-budget ad buys. Larger brands can always outspend you, but you can be smarter about where and how you place your branding and brand message.

When developing your persona, think about their lifestyle and demographic. Additionally, consider their social and emotional needs along with the specific dimension affecting their buyer’s journey. This will help you come up with creative targeting and messaging to help get your brand in front of them at the right moment.

Consider Investing in Marketing Strategy in Addition to Traditional Online Marketing

Spending money upfront on marketing strategy is highly valuable for your long-term business goals. It’s the best fit for building brand equity online because it requires your team to examine your customer’s journey, consumer-centric brand positioning, and building a website that grows as you discover new information about your persona.

Having a strategic marketing plan allows you to maximize your marketing dollars while keeping the big picture at the fore. This helps prevent you from spending money on marketing and advertising without knowing if you’re seeing any returns. As you test your marketing on online audiences, you adapt your plan to match your customer where they are.

Fast-growing companies know they need to have more than just stellar numbers; they need a brand that people stand behind. Building your brand equity starting today can make your company more valuable, sellable, and ease recruiting challenges down the road.

What need does your company fulfill? And do your customers think of you when that need arises? Want to learn more about brand equity? Check out this post and video series.

Jessica Scanlon

I’m a mom, a small business owner, and I’m a marketing professional with over a decade helping businesses with their branding and online presence. When I’m not spending time with my family or on my business, I love cooking (and eating) and snuggling with my dogs while I binge on TV shows. My favorite authors are Malcolm Gladwell and Steve Martin. My favorite movies are L.A. Story, Little Mermaid, Hedwig and the Angry Inch, and Trainspotting.

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We have worked with Hot Dog Marketing on a couple different projects and are still amazed at how easy they are to work with. They expedite the... process without cheapening the product. They are affordable, efficient, and have provided us with the guidance and insight we needed for our marketing. We are very happy to be working with them!!read more
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Hot Dog Marketing recently completed the launch of my new business's website and I couldn't be happier with how it turned out! They truly listened to... my vision and made it a reality. The design team was so impressive that I chose to also have them design and print my business cards and other print marketing material. My local pet care company, Delighted Paws Pet Care, now has a cohesive and professional (but still fun!) look and brand. Hot Dog was also able and willing to work within my limited budget. They were transparent from the beginning of what they could and could not accomplish within my financial means and executed very much to my satisfaction! Thank you Jessica, Melissa, Brandon, and the entire team at Hot Dog!read more
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Sadly the person that contacted me asked me first what my budget was and if it was between 3,000 to 5,000. When I said no she said I want not their... ideal client.read more
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The entire team at Hot Dog Marketing is very professional and exceptional at customer service. Its refreshing to work with a company that works hard... and clearly wants to do their best each and every time. We highly recommend Hot Dog Marketing if you want to see your company reach its next level of potential! Matt Baker, Realtor/Owner of Baker Realtyread more
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Jessica and her team are AMAZING to work with. I don't know they take the jumbled up notes and conversations and build an entire design and messaging... strategy out of it. They were spot on every time they presented an idea. We will continue to work with them and urge anyone else looking for design, messaging, or marketing to USE THEM!!read more
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Our website re-brand with HDM went smoothly and successfully. They were accommodating with each of our requests, and kept us informed with regard to... completion timelines and project goals. We look forward to working with the HDM team again.read more
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An amazing team of creative professionals to collaborate with! They took the time to really understand and become part of the essence of my vision. I... love my amazing website!read more
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Hot Dog has served the Austin area small business community well! They provide amazing services to both start-ups and established companies, and I... would recommend them to anyone.read more
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I am so VERY happy with the content that the team at Hot Dog Marketing creates every week for my preschool business. From what they write and... articles they choose for my ads/posts as well as the pictures of our students they choose to highlight, they are outstanding on every metric that matters. It's night and day compared to the last company I hired. They are charging me less for doing MUCH better work! Our Google ranking, which was near the bottom of the first page, is now landing on the top half. We are showing up on maps when we weren't before. I've been in business for 12 years and other businesses much younger and smaller than ours were getting better results, but no longer! At our second meeting, they even gave me suggestions for the website, which I have since implemented, like starting a blog, to help drive more traffic to it. If I have a question or don't like something (no matter how small), they are incredibly responsive. And as we grow with more locations, they will grow with me, which I can't wait to experience. I am absolutely THRILLED they are handling my account and am incredibly grateful I found them.read more
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We are extremely happy with Hot Dog and what they have been able to do for us! We went from not having any online presence at all to being found on... Google, Facebook and everywhere else we need to be and have seen an increase in call volume within the first few months. We highly recommend Hot Dog for all your digital marketing needs!!!read more
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Working with Hot Dog Marketing has been the most stress-free amazing experience ever! Jessica and her staff members, Alexa and Brandon, are very... gracious, easy to work with, and extremely responsive. They all listened to me and what I, as a small one-man business, needed from the very beginning. I love my new slink, professional looking, website.read more
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