Brand reputation means the views, opinions and perceptions held by your customers and target market about your brand. Brand reputation begins at the point of sale and continues as the customer receives his or her purchased item or services. Customer-handling during these crucial stages leaves a lasting impression, either positive or negative, depending on the buyer’s experience with your product or service.
Brand awareness, often used interchangeably with brand reputation, implies the familiarity of the buyer with the product and service your company provides and how easily he or she can recognize it on the shelves or online. Brand awareness should be the starting point for any business since it helps to market the brand and promotes new products and services as the business expands. Terms such as “trending” and “buzzworthy” are used for brands with high brand awareness.
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Why Should Brands Care About Brand Reputation/Awareness?
A positive brand reputation creates a trust-based relationship with the buyer. A company with a solid brand reputation is a known entity in the market. Potential customers know that they can count on a company with a trusted reputation to deliver on its promises. It makes selling new products and services easier because the company’s preceding reputation has already accomplished much of the preselling. The importance of a good brand reputation cannot be underestimated at any stage of the business.
Brand awareness, on the other hand, expands the company’s outreach and helps it meet its marketing goals easily.
Benefits of Brand Awareness and Brand Reputation
Helps Establish Mutual Trust Between the Customer and the Company
In the modern world, customers rely on feedback from previous buyers or the reviews that the product gets on the market. Researching before purchases helps buyers to obtain a product that solves a problem or meets their needs sufficiently. Once a customer is satisfied with the product, it is very easy for him or her to make return purchases.
Eventually, a trust relationship forms between the two. Positive brand awareness allows room for customers to give positive reviews and comments on products or services and thus attract new customers based on these stats.
Creates Positive Equity for the Brand
Buyer experiences and how the customers perceive the brand is essential. Positive customer experiences during purchases, after-sales services, and using the products go a long way in building the value of the brand to the target population.
A great experience will lead to a great perception of the brand, and eventually, positive brand equity. High brand equity will lead to higher prices as the brand is assumed to be better than its competitors. It makes it much easier to increase product lines and still generate revenue.
Brand Awareness Can Associate a Product with Everyday Actions
Brand awareness allows a company’s products to become positively associated with the actions to which it is related. Once the customer is satisfied with a certain product, a brand name is attached to it.
Say you’re thirsty and want a soda; people will often say that they want a coke. Coke a ubiquitous brand of soda that many people enjoy. Coke, the brand name, is used as an alternative name for the products in its category, thereby marketing the product even further. Anytime an individual wants a soda — they will always ask for a coke.
Creates a Loyal Customer Base
Consumers who have used a product and are satisfied with it will want to buy the product again and again. Before you know it, the brand has repeat, loyal buyers who are willing to pay a higher price for the product if it benefits them consistently.
Brand owners should not be quick to raise the prices of their products or services but should wait until they have loyal customers who have used the product for years. After this, a light price hike will go unnoticed (this should not be the case at the beginning of the business).
Increased Sales and Revenue
As the brand’s reputation grows steadily, the company will start noticing increased sales and revenues. Higher sales may come from the increase in the number of customers or an increase in the price of the “popular product.”
Brand reputation works behind the scenes to help the company realize sales that result in huge margins. A positive reputation for the brand will take time, but the benefits that it brings are long-term. Successful business on and offline can attest to this fact.
Helps the Brand Stay Competitive
New products/brands are released every day. Similar products to what your company is offering may appear, but this should not be a cause of worry. An undisputed brand reputation helps you stay competitive against other brands that want to lure away your customers.
Loyal customers will always buy your product because they are confident about what your company offers. In turn, the company should ensure that the quality of products and services perform well consistently.
Attract New Clients through Existing Clients
Successful businesses can attest that their loyal customers have referred a customer or two to them. Word-of-mouth is a powerful tool that can either build or damage the reputation of your business. If the company has a positive brand reputation, existing clients will always bring in more customers.
And the new customers will bring other customers, continuing the cycle. These referrals help the business realize profits and increased sales while competing brands struggle to bring in new buyers. Satisfied customers are your brand ambassadors; they are marketing tools that should not be undermined.
Brand Reputation and Brand Awareness Will Help the Business Expand
The positive reputation of the brand will help the company expand its operations and its products or services. What does this mean? As the brand’s reputation grows, the company can introduce new product lines.
Customers who already know the brand will be interested in its new products. The operations of the business will also grow steadily, and ultimately, the brand grows from a local household name to international business. Based on the feedback received from existing consumers, the company can easily dive into new, untapped markets locally and all over the world.
People love working for brands that are well-known and have good standing with customers. Working for a company that has a good reputation is a source of motivation for people who are directly engaged in the day-to-day operations of the business. Job security is also guaranteed as the business proves it is stable, and that it can be a reliable channel through which someone can earn income and rise the ranks.
Strategies That Help Boost Your Brand Awareness
1. Conduct SEO Research for Your Brand
Studies of online behavior reveal that prospective customers do not look past the first page of search engine results. Customers are more likely to buy a product or pay for a service that appears on the first pages of search engines.
Employing powerful SEO research strategies will help your brand become more visible and hence boosts brand awareness at the end of the day. SEO searches should focus on keyword research that will depict your brand as the best and your company as the lead in the sector.
2. Utilize Branding on Packages
Branded packaging on products makes the customer feel special. Skip plain packaging with only the customer’s name and address and opt for custom-made boxes branded with the company’s logo instead to boost brand awareness. Look at it as an extra marketing channel for your company.
Brand awareness through packages adds value to the products and services for the ultimate customer experience. It also helps the company to stand out from the competitors.
3. Use Influencers
Influencers are new marketing tools that brands/companies can adopt to increase brand awareness. As the brand penetrates the market, eager shoppers will buy the product after the influencer mentions your product.
Work with influencers who have a good number of followers (that trust them) and can relay the product benefits in a simple, yet powerful way. Mentioning the products is not enough; a brand influencer should create awareness of the product by discussing the product description in-depth with his or her audience and show them how it solves a problem.
Influencers work through social media platforms and act as the brand ambassador of your product.
4. Use Social Media
Social media has grown into one of the mainstream marketing channels for many companies. With millions of users every day, social media allows you to post a picture of the product or advertise your service globally. Add a brief caption to the picture, and you are good to go.
Instagram is one of the social media platforms. Influencers use Instagram as most of their followers and audiences are found here. Facebook is the most popular platform, and almost everyone is a user on the site.
Social media allows you to receive instant feedback, complaints, and suggestions. You can address readily queries raised about the brand from potential customers and existing buyers.
5. Start Tweeting
Twitter allows brands to interact readily with their customers. The popular social media site gives room for businesses to post information about their products and services to a large online community.
Use the company social media or digital marketing team to establish an online community for the company. Brands can also interact through comments with competitor brands while responding instantly to any queries or questions raised on the site.
6. Use Press Releases
Press releases are powerful marketing tools that companies can use to foster the brand’s growth by increasing its online visibility. Press releases are brand awareness strategies that ensure the media, existing customers and prospective buyers know the latest news about your company.
Press release distribution companies, such as prREACH, help companies attain an impactful boost before it gets to industry-specific journalists, bloggers, and news media outlets. SEO keyword searches are the most critical aspect of the press releases. They use specific, long-tail keywords, phrases, and seed keywords to rank your brand high and direct traffic to your website or sales pages. Each press release is audience-focused and highlights professionally the benefits and perks of your brand’s products and services.
Brand reputation and brand awareness have a huge impact on a business’ ability to increase profit margins. They are also the pillars on which a company stands, enabling it to survive, grow, and maintain its stability in a competitive industry.
Effective marketing strategies, such as press releases, aid in online reputation management. Online press release distribution helps startups and existing brands to build a credible and trustworthy brand reputation while enhancing product visibility to potential buyers. In turn, this adds to brand awareness in local and global target markets.
Should you need help marketing your business, prREACH can help. Contact us today at https://prreach.com/contact/ to speak with one of our experts about a press release strategy to grow your brand’s reputation.