• Allie Gritt

Brand Equity

When clients come to be asking for their "brand" and describe to me what they want their logo to be, I have to make sure that they understand what creating a BRAND is. Creating a brand is so much more than a logo or color palette.

An easy way to describe brand equity is the way a customer would describe your company or product when asked. The feeling and memory a customer has when they think/talk about your product or company is what a brand is. It's the reputation that your company maintains along with customer service and product satisfaction. The key to a good brand identity according to Nate Butler is to create something "distinct" and "memorable" (Butler, 2016.) that a customer will remember and want to share with others. Brand identity is the first glance understanding of what your company does or sells, and brand equity is how well the company maintains and shares that identity.

One of my favorite companies that does marketing so well is Victoria's Secret. Most, if not all, people know right off the bat what Victoria's Secret is by mentioning the name, showing the logo, or their product lines. Being an Angel Cardholder, I receive multiple emails a week from VS, along with text messages and social media alerts for their ads and new products. By keeping track of which marketing pieces reach which target audience, VS is able to send direct emails to customers that would more likely shop in the Pink (their teen line) department or would shop in their lingerie department or even fragrance lines. I receive personalized emails regarding my Angel Card and what member benefits I get, and when I am able to use them to my best benefit.

Since Victoria's Secret optimizes their Customer Lifetime Value(CLV), they choose to put marketing budget and efforts into targeted audiences such as myself by alerting me when products similar to what I've purchased in the past are on sale, etc. Which in the long run, "boosts customer loyalty and retention" (Fontanella, 2021.), along with increasing their Net Promoter Score (NPS) by maintaining their returning customers.

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