Today, I would like to talk about branding and how perceived value is a primary factor to a branding success.
How are you perceived in your marketplace by your peers, your competitors, by other people in the same industry as you.
First of all, understand that branding is one of the most important aspects in any business. A marketing practice that is crucial in creating an identity of a product or service that is engaging, strong and clear. Simply put, it is the image or perception people have of your company or product.
Using Apple as an example. The brand Apple develops their branding strategy around emotional benefits. They created a brand based on emotions, leaving consumer to feel happy and satisfied while using their product. If it is compared to their competitors, it is most likely that other brands are cheaper, affordable or even, have a better specification. However, people are still willing to go through the hassle for an iPhone, in fact, I recently bought myself an iPhone 7. Chances are it could be the same as my iPhone 6 that I currently have, but that did not affect my decision.
So, if you take a look at Apple today. They are known as one of the most valuable brands in the world. But What makes Apple so successful? It is simple! The main reason is because Apple has created a solid fanbase, who is happy to pay a premium price for any Apple products because of the perceived value attached to their brand.
Perceived value simply means what a consumer believes the product is worth.
So the question that I want you to consider is,
What can you do right now that can improve your perceived value in the marketplace?
How can you increase your perceived value in your workplace?
How do you position your brand differently to stand out in the marketplace?
This could mean by creating your own video series, writing a book or publishing a content on your website so that you are positioned differently in the marketplace.
What can you do in your space right now that will increase your branding and your positioning in your marketplace? Leave a comment below because I would love to hear all about it.
