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Considering Useful Online Branding Strategies.

Building Vital Brand Value!


The Key Aspects of Online Brand Value...


Brand value isn't something you can achieve. You can't work to attain it.

It's not a situation of whether you have it or not... because you do own a brand and it does carry with it a certain amount of value.

So it's more a question of how much value your brand carries...

The way I see it is that if your internet business has a name, it has a brand...

And that name does have inherent value... a little or a lot, and it can gain value as well as it can lose it.

It's all a matter of online branding strategies and the value associated with that name, and what it means to customers.

But how is brand value developed on the internet?

You have to look at recognition and awareness first.

Are potential buyers aware of your internet business's existence?

That's the first thing... and your efforts up until this point have supported that. All the effort you've put into generating traffic, into writing the most effective PPC ads, into distributing content, and into building links have all helped in making your internet business a recognizable brand on the web.

That job, however, never stops... you'll likely be always interested in getting a flood new customers to expand your brand's reach and penetration within your niche.

Then you must consider reputation... that's your brand's reputation.

It's more than just recognition and awareness.

Reputation is developed over time as customers repeatedly engage your internet business.

And with each engagement, their resulting experiences build and a sense of value (or lack thereof) is created...

Not only in your own customers, because those experiences will certainly be communicated throughout the internet as customers spread the word about you when they network with other users and potential customers.

In that way, you'll build your brand's reputation in the market and value will gradually start being associated with it.

So it's those basic attributes that will initially help you in developing your internet business's brand... recognition, awareness, and reputation.

Now, why is it so crucial for internet entrepreneurs like you and I to consider our brands of such prime importance for our internet business success in the long-term?...

Simply because customers are loyal to brands... not products, websites, ads, etc.

Customers are only loyal to brands... and they buy repeatedly from them.

So if you're able to build a reputable brand that enjoys a certain reach and penetration in the market, you'll not only secure revenue, sales, and profits in the future, but you'll secure commitment as well.

 

Key Brand Qualifiers and for Internet Business.

They're called "key brand qualifiers" because they "qualify" your brand... as in "attributing value or importance to" what your brand is or can be in the future.

They tell of a brand's productivity and its impact in the market.

These are things like retention capacity, loyalty generation, and "pocketshare".

Let's look at your brand's retention capacity first...

Retention capacity is nothing more than your brand's ability to keep customers for the long-run and maximize their "lifetime value".

It's about that brand's potential to secure commitment over time.

Customer loyalty is another important brand qualifier... and although it's quite similar to and often confused with retention capacity, it has to do with an entirely different aspect of a brand's productivity.

While retention has to do with how long you can keep customers engaged and committed, loyalty generation refers to a brand's ability in making customers "insensitive" when it comes to competitors' offers of value.

Loyalty has to do with remaining relevant as far as each unique customer's intentions of purchase as they grow and mature, and as their needs change.

Then there's also the "pocketshare" or "share-of-wallet" aspect of brand productivity...

It refers to the total amount of business you can generate from a single customer's spending budget for a specific purchase intent.

Think about it... you can have a highly committed customer that's always on your internet business website, and he buys from you repeatedly. He's loyal to you in that you're his first choice when it comes to buying.

But does that mean that he spends his entire budget on your offers?

I think it doesn't... a customer can take you up on a particular offer, but still buy complementary products from a competitor. That's why it's important that you provide the most coherent and complete offer of value so you can bank upon a higher percentage of a customer's budget.

These are the three most basic brand qualifiers. They're for you to consider and think about as you develop your brand's value on the internet.

Return to "Expansion" from "Essential Online Branding Strategies for Internet Businesses"

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