Building Brand Equity: Strategies and Best Practices

What drives brand equity to increase your brand lift?

Proving brand lift for your business is critical when lobbying for marketing dollars and planning your advertising strategy. There are several elements that go into measuring brand lift; how does brand equity fit into the equation? Brands, agencies, and publishers must have insights into campaign effectiveness by going beyond traditional observable metrics to delve deeper into the various topics that drive brand equity.

What you will learn:

1. What drives brand equity?

2. Which brand lift KPIs matter for campaign planning?

3. How does DISQO drive brand equity and, in turn, brand lift for your business?

What drives brand equity?

Brand equity refers to the value and strength that a brand adds to a product or service. It is a combination of various elements that contribute to the overall perception and reputation of a brand in the minds of consumers. Building and maintaining brand equity requires a strategic and holistic approach to measuring a brand's presence and its interactions with consumers. 

Below is a list of brand experience touchpoints that drive brand equity:

• Brand Awareness: The extent to which consumers are familiar with a brand is crucial. Higher brand awareness often leads to a stronger brand impact because consumers are more likely to choose a brand they recognize.
• Cultural Relevance: A brand that aligns with current cultural trends and values may be more appealing to consumers. Staying relevant in a changing cultural landscape can contribute to brand equity.
• Brand Perception: The way consumers perceive a brand influences its equity. Positive associations, feelings, and attitudes toward a brand contribute to its strength. A consistent and positive brand image is essential for building and maintaining brand equity.
• Brand Loyalty: When consumers consistently choose a particular brand over others, it indicates a high level of brand loyalty. This contributes significantly to brand equity.
• Brand Positioning: How a brand is positioned in the market compared to its competitors influences its equity. A well-defined and unique positioning can set a brand apart and make it more memorable.
• Marketing and Advertising: Effective marketing and advertising strategies can significantly impact brand equity. Consistent messaging, creative campaigns, and engaging content contribute to a positive brand perception.
• Product Quality and Innovation: The actual quality of a product or service and its ability to meet or exceed customer expectations contribute to brand equity. Innovation and staying ahead of the competition also play a role in shaping a positive brand image.
• Customer Experience: The overall experience customers have with a brand, from purchasing to customer service, can strongly influence brand equity. Positive interactions and customer satisfaction contribute to a favorable brand perception.

Which brand lift KPIs matter for campaigns?

Brand lift studies quantify how people’s attitudes toward a brand change after being exposed to an ad. The typical brand lift study uncovers how ad exposure changes brand metrics, like awareness. Some of the brand experience touchpoints that drive brand equity are also the metrics that inform the effectiveness of advertising campaigns. While brand equity is an indicator of how advertising campaigns are performing, it is difficult to measure against sales.

There are key brand lift performance indicators to consider when measuring the impact of your advertising. Awareness, perception, and persuasion metrics, like familiarity and purchase intent, can be quantified to help advertisers understand the impact of their campaigns with consumers during the consideration phase. You can learn more about brand lift KPIs and how to run a successful brand lift study in DISQO’s Brand Lift Decoded report.

How can DISQO drive brand equity and brand lift for your business?

DISQO drives brand equity by providing unparalleled insights into every customer interaction. Businesses rely on DISQO to inform strategic decisions across each customer touchpoint and achieve optimal outcomes from their advertising campaigns. At the core of DISQO's capabilities is its advertising measurement product, fueled by 2M+ consumers who have opted in to share their experiences with brands.

Brand equity, within the DISQO framework, is amplified through its brand experience platform. It ensures heightened brand awareness by leveraging its extensive consumer base, fostering familiarity and recognition. Businesses using DISQO benefit from enhanced brand loyalty as they can create experiences their customers want and need, informed by the platform's insights.

Source content:

https://resources.disqo.com/brand-lift-the-definitive-guide#what

https://www.marketingevolution.com/knowledge-center/guide-to-measuring-brand-lift