Adding flavour to Brand Equity

A lot of the time, especially in the corporate world, you see Exec members pushing their employees to drive one of their ultimate goals which is brand equity. There is nothing wrong with this but a lot of the time HOW this gets done is misguided.

For those that do not know, simply put, brand equity is the total value that is derived from consumers’ perception of a brand. Brand equity is earned and built over time in order to create longevity of the brand. What people fail to understand is that before you can achieve brand equity, you need customer equity first. As a brand, you cannot reach brand equity when you have not achieved customer equity because good relationships with your customers will impact how they perceive your your brand. Brand equity and customer equity cannot exist in isolation.

In my opinion, people get taught out of creativity. You see it everyday by being told to colour in the lines, being told to focus and stop doodling during class, being told you can be whatever you want to be but get told that dancing does not pay the bills or school fees. All of this slowly chips away at a person’s creativity as societal barriers keep popping up in front you even when you are unaware of it.

Creativity and design thinking are important to cause disruption and to create memorability of a brand. Disruption is good as it causes talkability and brand recognition. However, brands need to go one step further and ensure that their disruption converts consumers and constantly makes consumers remember brand experiences that stand out. It’s about that tipping point that brands need to constantly strive for as spoken about in Malcolm Gladwell’s book, The Tipping Point. If a brand leverages off creativity and design thinking and changes perceptions, they have a better chance of building on their customer relationships and in time, building on the brand equity they so eagerly want to increase.

When creativity is applied to brand equity, it creates a renewed and fresh approach to what brands stand for in the minds of consumers. Sometimes, adding creativity may just be about changing how you do something not necessarily changing what you do with the hope that better value is added for the consumer, almost like adding a bit of flavour to spice up what was previously seen as a boring snack.

Please note: Permission to use the feature image was obtained from and granted by Nick Levesque. To see more of his amazing work, please visit http://art.nicholaslevesque.com

 


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