How do your customers feel about your brand?
Knowing just how your customers feel about your brand can help you to determine your brand’s equity, and this leads to you being able to use that information to make important, efficient, and effective decisions. Brand Equity is the value that your brand holds based on the image and perceptions that consumers have about your brand, and how these feelings about your brand solidify its place in their mind, thereby facilitating stronger brand recall and brand resonance.
Why feelings are important.
When gathering data through research, quantitative forms of research are important because they show you the metrics (the numbers) and provide clear information on performance that is easily analyzed and represented in visualizations.
However, qualitative research is equally important because this form of research allows you to capture the intangibles of how customers feel about your brand, how connected they are with your brand, the value that they place on your brand, why they feel a sense of engagement with your brand, and how loyal they are to your brand.
Researching to capture these intangibles helps you to determine the true image that consumers hold about your brand, and, in addition to quantitative data, helps you to make the best decision to grow your brand.
Feelings are the stuff that brand equity is made of… whether good or bad. Knowing how customers feel about your brand can help you to make decisions that gain or improve your positive brand equity.
Check out last week’s post