Have you thought about your Brand Value before? How Unique?
How does your audience consider you?
Every Business owner wants his Brand to be the Leading and the A+ Brand that everybody is talking about, but how do you plan for it?
In This Article, we are going to share some Secrets for building a “ Brand Value.”
The first question should be “ What is the Definition of Brand Value”
As Per Cambridge dictionary, Brand value is:
“The financial value that your customers who will pay more for your brand”
In other words, if you sell a bottle of water under A Brand for 1 AED and the same bottle of water under B Brand for 3 AED, so the Brand Value will be 2 AED, which customers paid more for the bottle with Brand B just for Trusting this particular Brand.
Now you must have recalled every time you had bought a particular product with more money just because of its Brand, That confidence you feel when you buy an Apple product, or how excited you were when you ordered from amazon or the way you say, “ I bought this from IKEA” when you point at some of your home pieces for a friend.
Yes, that is the main Goal of Brand Value, I Buy with more money, but I feel
(Confident- rich- unique, or whatever you name it)
Smart Big Brands are using the Same Strategy for building their Brand Value in the mindset of their audience, using unique marketing, slogans, identities, and ideas.
As a Business owner Targeting to Lead the Market and Beat His Competitors with less risk and more profit, You should work on your Brand Value From now on .
Building a Brand Value starts from:
Give a “Why” to your brand.
Do you have a Story behind your brand? If No, so you miss the most important key for building a brand value, Tell a story about your product if there is no story, so make one, Because People love stories, “Stories Provide Context “ That emphasize the value of your Brand.
Value is Usefulness.
Fill a Need, but fill it uniquely , convincing customers that they need your Product/ service not your competitors’ one is a Sales Art.
Make sure your brand has this art.
Who are your Customers?
No, Not everybody is your customer.
Make a market study with your most potential customers and then be kind of Selective, For Example, if you are selling just water, so everybody on earth needs water, Dah!
But to build a brand value, you may Add a slice of lemon in your water and target “Athletes” as your Customers, then focus to mention this in all your branding, marketing channels, that will push Athletes to buy your water because you are their brand and you let them feel special and unique. Even if your bottle of water is a bit more expensive than your competitors’ .
Educate your audience:
YES, You Should Educate your customers, let them enter your manufacturing process, give them more details about your materials, ideas, and be their reference if they need any information related to your industry, even if you do not provide the one and only service in the market, You Will Be The Only and Only Reference 😉 .
Be Funny Sometimes
Imagine your favorite brand is telling you a joke, a huge Entity and a Company is being so Friendly that you consider them as one of your “Closest” .. Hmm, tell me, aren’t you going to be their first advocate ?
To Build Trust, you must first build what is called “ Brand Relevance “ The ability to connect with your audience’ emotions and become personally relevant to them with your content and your products, But why is Brand Relevance that important?
Well, Relevance is familiarity , and familiarity represents safety!
Another main point to build a Brand Trust is to Build Connectivity
( i.e , create a bottle case that fits only your Brand’s bottle of water 😉 )
Easy and Simple!
Provide Very Powerful Customer Support.
That is mainly how you will get a huge loyal customer base.
When you deliver the concept of “ I Got Your Back”
Solve their problems, give them compensation, create customized offers.. Pamper Them and they will be your Army!
Giving an example of Brand Value and Loyal Customer Base, Let me mention the most unique and Ranked No.1 Brand all over the world
Apple, but in a new case 😉
Samsung VS iPhone
Samsung doesn’t beat the iPhone in either category that matters, some of which are important to me:
- iPhone has the best (by far) camera; pictures always look gorgeous regardless of “tech specs,” and that’s what I’m after.
- iPhone is quick, snappy and its UX is top-notch, regardless of how many apps you put on it
- The quality of apps on the iPhone is on another level; the vast majority is top-notch. When I switched from Android, I moved with a habit of downloading 10–15 apps for a particular task – although this was necessary on Samsung as most of them were throwaway, on Apple usually first, the second app meets or exceeds expectations.
- iPhone works; I don’t have to worry about updates, new widgets incompatible with my mailbox, spend hours figuring out which gadget kills the battery, etc. Since I moved away from Galaxy, I spent almost no time managing my phone, and it is always on latest&greatest version of the software.
- Last but not least: I LOVE SMOOTH SCROLLING. After a few months, all Android phones have problems with this, Chrome jitters, and so are galleries in photos and other apps like Insta. It never happens on iPhone; it is always silky smooth. I know this is small, but it makes mobile look&feel quality.
Many factors contribute to this. Firstly, Apple makes a premium device, and that’s it. So there’s the exclusivity factor.
Samsung makes a Premium device, too, but it took a long time to reach the same level of build quality.
However, Tends to offer at least one device during each generation that is meant to be a productivity powerhouse (as most Android flagships are now) that Apple can’t touch yet in their Mobile phone division (this reversed only a couple of years ago.
A large number of companies use iPhone still, but devices like the Note 20 are just monsters in productivity)(Due to Android being open source, and nobody having direct control over every single facet of the build, programming, or apps/app store, Apple can build a Chipset that slays in benchmarking scores.
Snapdragon used to be the king of benchmarking. So a lot of Apple fans focus on those numbers and associate ‘benchmarks=greatness’ (to be fair, a lot of Galaxy fans were the same way at one time), not realizing that at the speeds we’re hitting now, the only thing these scores represent is tiny, incremental app loading speeds, shooting at high frame rates, and editing high def video. If any of that at all. Otherwise, they’re not so important these last couple of Generations.
Apple is great at marketing too. In the past, they intentionally limited the number of their 1 or 2 phones at release, which caused them to become even more exclusive.
Samsung has continuously operated under the exact opposite train of thought and wanted to make sure every person that wanted their device could have one. There was a time where they held the moral “high horse” and even produced handsets with top of line specs, with extra features most, didn’t have, just in a lower cost body made of plastic, which kept costs down (like OnePlus has been doing up until now).
On top of that, when they released their flagships, they also had out an entire line of devices to cover any price range, so they were just always more accessible overall.
- Apple builds a high-quality, premium device.
- They are known to limit production and release numbers to build on enthusiasm.
- Samsung also builds a premium device but always has a wide range of devices out at the same time for any consumer level.
- Large amounts of competition from the other Android builds at any given time make the ecosystem and OS less exclusive overall.
- Last but not least, Apple has a team of the world’s most outstanding marketers. They know how to push a product better than anyone. Studies demonstrated hardcore Apple fans having a religious reaction in the brain when shown Apple products.
So I don’t believe it’s right to compare the world’s most excellent smartphone to devices like Samsung, Pixel, OnePlus, or Huawei. No, the Samsung, Pixel, OnePlus, or Huawei, and others are mobile desktops. Capable of so much more in the right hands than any “Smartphone” will ever be. I use the Note 20 and iPhone 12 in my daily life. They’re two different devices with two completely other purposes. That’s not to take away from the iPhone or Android. Just the facts as I see them.
Apple is already stopping the queues and does much more to enable purchases over the net. Other companies are just following the trends with a one-two-year delay, as usual.
- Apple is getting the enormous scale manufacturing and distribution processes better and better.
- Queuing is not a novelty anymore.
- The shops are now just used as a last resort when the net stocks are exhausted. I mean for first-day purchases. For buying later, touching the products and for contacting experts, the shops are an enormous asset.
Why do people wait in line for Apple and not Samsung
Do you know why people go at midnight and spend hours at the entrance of Apple stores before its opening time?
And now, with the release of the brand new iPhone 13, Apple’s customers from all over the world are waiting in lines just to lay their hands on the first batch of iPhone 13. Social media bloggers were already reviewing it to their audience and giving exclusive feedback on the new features, especially the cinematic mode that shifts the focus point from one object/person to another when taking a video. It’s done by focusing on the object/person in a picture and blurring the background to create a near and a far distance between them, giving a focused image on camera.
Apple has performed the branding effect on the audience. They now understand the value of holding apple products even if it’s costly. Samsung is still trying to figure out why Apple customers are willing to spend half a day waiting for the launch of its products. Apple is one of the most successful branding companies around the world. Marketers believe Apple’s branding game is the key to its company’s success. Apple, as a brand I representing the future of the technology industry. That is why the audience thinks of the brand as the new future.
Here is a commercial by Samsung trying to show how waiting in lines for Apple’s iPhones doesn’t make any sense when there are plenty of other options such as android. People are always searching for “apple versus Samsung “because they want to know why Apple has this popularity when Samsung does not.
Why is perceived value so significant? Perceived value is how a customer thinks of the benefits and costs of a brand compared to another brand. It’s essential because marketers can use it to know how a consumer may view a product. For example, if a product costs 50 AED for production, the price is 100 AED, and the customer’s perceived value is 150 AED. The manufacturer will gain a 100% profit, and the customer will feel as if they’ve done a great deal because they will think that they have paid less than what they think the product is worth. Customers are willing to pay more if they view the product as high quality. That’s the reason behind Apple’s continued success over its competitors.
Their customers don’t think of the iPhone as a Dual SIM, 128GB, 12-megapixel smartphone; they think: “I want this because it’s an Apple iPhone.”
The first-ever iPhone launched in 2007 sold for around 500 – 600 Dollars, but the production cost was between 200 – 250 Dollars. Can you imagine the profit Apple has made! The iPhone 1 was giving high expectations to the audience before it was released, they were very excited, and we’re waiting to try it out. Once the iPhone 1 was launched, it met the audience’s expectations; it was a whole new category of products. It was the first of its kind, and its perceived value was much higher than the price.
Social Media Influencers
Are you familiar with the trend of “unboxing”? Unboxing is when customers take videos or pictures of themselves opening their brand new purchased products. Nowadays, there are millions of videos on YouTube of customers opening up their products. Why? You may ask because the audience likes to know how it feels or how to open specific products.
The process has gained a lot of attention in the past few years. Influencer marketing is thought to be a $10 billion industry. So how is Apple using this strategy? Apple collaborated with YouTubers to create unboxing videos of their products. The brand created feelings of FOMO, which is fear of missing out. It made customers demand their products before launch dates, never to miss the trend of Apple products.
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