Brand Equity: What It Is and Why It Matters

I often get blank looks when I mention brand equity — and, it is so important to your business! So, what exactly is it and why does it matter so much?

Brand equity is defined as the value that a brand adds to a company beyond physical products or services. Its value is focused on the overall perception of a brand by consumers, including their emotional connection, trust, and loyalty towards it. This perception is shaped by various factors, including, product quality, customer service, marketing efforts and consumer experience. When a brand consistently meets or exceeds customer expectations, it builds positive brand equity, making it more likely that customers will choose it over competitors. Obviously, negative experiences diminishes brand equity, causing customers to switch to alternative brands.

The Benefits

Although an intangible asset, brand equity holds significant value for businesses, impacting the bottom line and market position. High brand equity can lead to increased profitability by allowing companies to charge premium prices, reduce marketing costs due to strong brand recognition, and enhance customer loyalty. It also provides a competitive edge, making it easier for a brand to enter new markets, launch new products, and secure a larger share of the market. Furthermore, strong brand equity can attract partnerships, improve stakeholder confidence, and create a lasting legacy that contributes to long-term business success.

Putting Customers At The Center

Building and maintaining brand equity is a game-changer and it’s all about putting customers at the center of your strategy. To grow brand equity, brands must cultivate meaningful relationships with their audience, consistently deliver on promises, and stand out from the competition. This means investing in quality, providing exceptional customer experiences, and aligning your brand values with those of your target audience.

When customers feel valued and see your brand as trustworthy, they’re more likely to remain loyal, advocate for your brand, and choose your products over others. Ultimately, strong brand equity is not just about having a recognizable name; it’s about creating a connection that turns one-time buyers into lifelong fans.

Brand Equity Strategies

Developing a great product or service that meets customer needs is just the beginning of building brand equity — it’s the spark that ignites the fire! To truly build and grow your brand equity, the next step is all about consistency and connection: crafting a message that resonates and creating an engaging, memorable customer experience.

This is where brand management comes into play. It starts with a solid brand identity that reflects who you are and what you stand for, but it doesn’t end there. Brand management is an ongoing process that involves continuously monitoring brand performance, updating strategies, and analyzing results to ensure your brand stays relevant and appealing. Be sure to track metrics like brand sentiment and awareness to gauge how consumers feel about the brand and to set benchmarks for growth. By staying proactive and adaptable, you can build a powerful brand that not only stands out but also stands the test of time.

Brand equity isn’t just a measure of how well your brand is known — it’s a powerful indicator of how well your brand is loved.

Mastering Branding for Start-Ups

One of the most daunting challenges of launching a business is building its brand from the ground up. You may find yourself asking, “Where do I start?” and “How do I develop the right identity?” The process can feel overwhelming, but by breaking it down into manageable steps — like defining your brand’s purpose, understanding your audience, and crafting a unique value proposition — you can create a strong foundation.

Developing the right brand identity is about aligning your visual elements, voice, and messaging with your core values and audience needs. Though it takes time and patience, each step you take brings you closer to establishing a brand that resonates and thrives in the market.

1. Define Your Brand Purpose and Values
Start by understanding your “why.” Why does your business exist, and what values drive it? This clarity will shape your brand’s mission and resonate with your target audience.

2. Know Your Audience
Research your target market to understand their needs, preferences, and pain points. Tailor your brand message and identity to appeal directly to them.

3. Craft A Unique Value Proposition
Identify what makes your product or service unique. Your value proposition should clearly communicate the benefits your brand offers and why customers should choose you over competitors.

4. Develop A Visual Identity
Your logo, color scheme, typography, and overall visual style should reflect your brand’s personality. Consistency across all platforms is key to building brand recognition.

5. Develop A Strong Brand Voice
Your brand voice should align with your values and resonate with your audience. Whether it’s professional, casual, or quirky, consistency in tone helps build trust and familiarity.

Building a strong brand takes time. Stay committed to your brand strategy, and over time, your efforts will pay off as your brand identity becomes established in the market. By focusing on these strategies, startups can lay a solid foundation for a brand that not only stands out but also grows stronger over time.

The Shift to Digital-First Branding

In today’s ever-evolving business landscape, the concept of digital-first branding has emerged as a fundamental strategy for success. This approach places paramount importance on digital elements in shaping the identity and trajectory of a brand. Essentially, digital-first branding ensures that every aspect of a customer’s interaction with the brand—be it the experience, aesthetics, messaging, or engagement—is seamlessly synchronized across various digital touchpoints.

Embracing a digital-first branding strategy is no longer merely a choice; it has become essential in today’s business environment. It recognizes that in an increasingly digitized world, the way customers perceive and engage with a brand online plays a pivotal role in shaping their perception and loyalty. With consumers spending more time online than ever before, brands must prioritize their digital presence to remain relevant and competitive.

Here are some important reasons why businesses need to prioritize digital-first marketing:

Targeted Campaigns:

Digital-first marketing empowers businesses to create highly targeted campaigns that resonate with their audience on a personal level. Unlike traditional marketing approaches, digital platforms allow for precise segmentation of audiences based on demographics, purchasing history, and other relevant factors. For instance, businesses can segment their email lists and customize marketing emails with tailored content, offers, language, and imagery to better appeal to different customer segments. This level of personalization enhances engagement and drives better results.

Enhanced Customer Experience:

Consumers today expect brands to be responsive and accessible on digital platforms. A digital-first approach to branding enables businesses to meet these expectations by providing timely and efficient customer support. Research shows that 71% of consumers aged 16 to 24 believe that a quick response from a service team significantly enhances their experience. Moreover, failing to respond promptly to customer inquiries on social media platforms can have detrimental effects, with half of the customers indicating they would not engage with the brand again. By prioritizing digital channels for customer interaction and support, businesses can improve satisfaction levels and foster loyalty.

Increased Flexibility:

Digital-first branding offers businesses greater adaptability in responding to evolving market trends and consumer behaviors. In a rapidly changing technological landscape, businesses need to stay agile and responsive to stay ahead of the competition. Digital platforms provide real-time analytics and insights, allowing businesses to monitor campaign performance and make data-driven decisions quickly. This agility enables businesses to adjust their strategies in real-time, optimizing marketing efforts for maximum impact. By embracing a digital-first approach, businesses can stay nimble and effectively navigate the ever-changing digital landscape.

Unlike traditional marketing channels, digital platforms offer real-time analytics and insights that enable brands to measure the effectiveness of their campaigns and make data-driven decisions. This agility is invaluable in today’s fast-paced environment, where consumer preferences and market dynamics can shift in an instant.
By leveraging digital platforms effectively, businesses can establish a strong online presence, engage with their audience on a personal level, and stay ahead of the curve in today’s competitive market. Embracing digital-first branding is not just about keeping up with the times—it’s about setting the stage for long-term success in the digital age.

Creative Vortex is a strategic graphic design partner for passionate people in a wide variety of industries who own the power of their WHY. Book a free consultation today.

AI in Graphic Design

Artificial intelligence (AI) has become an indispensable force shaping various aspects of our world, extending its influence into industries far and wide. In particular, the graphic design sector has not been immune to its transformative power. As highlighted in the CompTIA IT Industry Outlook 2024 report, companies are actively embracing AI integration. With 22 percent aggressively pursuing AI implementation across diverse technology products and business workflows, and 33 percent engaging in limited adoption, it’s evident that AI’s impact is substantial. Additionally, 45 percent of firms are in the exploratory phase, signaling a growing recognition of AI’s potential. In this dynamic landscape, the role of AI in graphic design is evolving rapidly, presenting both opportunities and challenges for designers and businesses alike.

In the dynamic landscape of digital creativity, the role of AI in graphic design has evolved into a game-changer. As we move through 2024, the impact is more profound than ever, redefining how designers visually conceptualize, create, and innovate to meet corporate and client expectations.

Generative design AI programs create images based on prompts provided by the user in a matter of seconds. Already, many human designers are changing how they approach content creation. Instead of developing everything from scratch, they use AI to create mockups, work out the typography and color scheme, or generate templates they can personalize.

Benefits

Save Time: AI can automate menial tasks like removing backgrounds from pictures or handling basic photo editing, which used to take hours for an average person but can now be done in minutes.

Remove Guesswork: AI doesn’t rely on human perception but on datasets and machine learning, enabling it to select colors based on numerical values quickly. It can create complementary or analogous color sets much faster than designers.

Save Money: Many AI programs offer competitive pricing and can save money compared to hiring a professional graphic designer, especially for sporadic graphic needs.

Challenges

Data Bias: If the data used to train AI is biased or incomplete, the AI-powered tool may produce suboptimal results, perpetuating stereotypes or discriminatory practices.

Limitations in Creativity: AI-powered tools are currently unable to replicate the creative intuition and expertise of human designers. While it excels at repetitive tasks and data-driven decisions, it struggles with nuanced artistic choices.

As we anticipate further advancements in AI and potential changes in image copyright laws, it’s essential to focus on how AI can save time and automate parts of the design workflow rather than solely relying on it for generating art, especially for commercial purposes. Finding the balance between leveraging AI for efficiency and preserving human creativity remains a key challenge and opportunity in the field of graphic design.

Using Visual Assets on Social Media for Better Engagement

Visual content on social media matters. According to Hootsuite, LinkedIn posts with images have a 98% higher comment rate and Twitter tweets with visual content are three times more likely to get engagement. And, on Instagram the more visual content the higher the engagement. According to 2022 Statista data, the average engagement rate for an Instagram post on a business page is 1.94% and carousel posts have a higher engagement rate of 3.15%.

Plus, the type of visual makes a big difference for marketers and consumers with a big focus on high-quality video and images. Hootsuite reports that 47% of adults like to see content in the form of images. 35% said they like to see brand content in video form, as found from a 2021 Swedish study conducted by Statista.

Different types of visual content on social media include:

  • Photos
  • Videos
  • Carousel posts (multiple photos or videos)
  • GIFs
  • Illustrations
  • Infographics
  • Animations
  • Memes

Below are my top four tips for incorporating visuals into your brand and social media strategy.

1. Color Palette

Create a color palette that represents your brand and follow it all the way through your feed. Not only does it develop a stunning look, but it creates brand recognition and connection with all your followers. Make sure to alternate how you use color by creating different templates, as well as pictures and video.

2. High Quality Assets

Use high quality assets that have the right specifications for each platform, so they can display without being stretched out or pixelated. When using a link to fill in an image make sure that what is being displayed is accurate and tells the right story. Lastly, when posting a video be sure to choose the thumbnail that is represented in the feed when it isn’t playing.

3. Image Copyrights

It is so important to give credit where it is due. If you didn’t create, film or buy your image/video be sure to highlight and/or tag the person or organization that did. Other than it being basic courtesy, there are legalities surrounding using an image or video from other creators that isn’t from a free stock image site.

4. Brand Your Content

Don’t be afraid to leverage your brand logo with your images.  However, don’t overuse it or let it take up too much space. Use it enough to create recognition and to ensure you get proper credit when people repost.

In closing, we encourage you to pay close attention to social media trends. Social media platforms tend to reward handles with higher engagement when they are leveraging the latest practices. Also, use a scheduler to manage your social media strategy! The surest way to fail at this is to not plan out content!

There is so much to know about social media! Want to learn more? Reach out and schedule a free 30-minute consultation today.

 

4 Signs It Is Time For An Updated Logo

We all know that having the perfect logo is good for business. It defines your business and helps your brand stand out next to the competition while creating an image that resonates with consumers.

As with all things, logo design and trends change with time. So do consumers, competitors and business scope. If your brand has been struggling in places they haven’t before it might be time to consider an update for your logo and brand presence.

1. Changing Consumer Market

If you have been in business a while, most likely your consumer market has been evolving and to stay competitive you need to open it up. Perhaps you are trying to connect with a younger consumer or are trying to appeal to female buyers. If your previous consumer market was older and male, then the logo you have might speak directly to them but not anyone else. How your target audience is changing and what visually appeals to them is critical when leveraging a logo.

2. Shifting Competitive Landscape

Entrepreneur.com predicted that 2023 is a great year to start an online business. During the COVID-19 pandemic millions of people started new businesses and side hustles. In 2022 that trend stayed strong with 5 million new businesses and this year has been no different! With this significant influx of competition, how does your logo and brand stack up? To stay competitive your brand needs to be visually compelling and easy to find in a crowded marketplace.

3. Expanding Business Focus

Most likely as your business has grown, so has your strategic approach on what niche market (s) to target. Perhaps you have grown from a local shop to a national presence. Or perhaps, even grown your business to an international brand. Better yet, if you have added additional products or services to your brand than your logo or family of logos needs to reflect that. Your logo needs to grow along with your business!

4. Current Logo Doesn’t Show Up

Having a successful business is about being seen in all the right places! Is it easy to see your logo in digital communications? Consider the following:

  • A logo bug for online profiles that is easy to see and connects with your bigger logo.
  • Bright and vibrant colors that illustrate and relate to your brand.
  • Logo on all digital platforms are consistent and recognizable
  • Logo makes sense to your target audience on signage and print and digital communications.

The next step in this process is deciding whether to redesign or refresh your logo. How to handle your logo should not be taken lightly. Changing your logo directly affects your brand recognition and your loyal customer base and requires a strategic approach. However, this can be a fun and necessary process that will ultimately build strong brand presence and increase your sales!

Looking for some more branding support related to your logo? Creative Vortex is here for you! Reach out to us to learn more about our team and how we can help.

Brand Refresh & Rebrand: Understanding The Difference

People often get a rebrand and refresh for a brand confused. Or they don’t even know what any of it means. So, they just keep doing what they have always done and eventually start to lose customers because they aren’t offering anything new … or just aren’t reaching people.

Both are centered around a need for change to evolve within a marketplace and stay competitive to a target demographic. A rebrand is a completely new look and feel, while a refresh simply cleans certain elements up but still looks and acts the same.

Change is hard, but necessary! Follow along as we dissect a rebrand and a refresh!

REBRAND

As mentioned previously, a rebrand has a completely new look and feel. It entails changing the following:

  • Logo
  • Font typeface
  • Color Palette
  • Tagline
  • Key Messaging
  • Market Position
  • Brand Values
  • Brand Guidelines
  • Mission & Vision Statement

Be prepared to ask and answer some hard questions from your internal and external audiences. Conduct market research to learn more about how to be competitive within your marketplace and with your chosen audience. What do customers think of your company/brand now? What is your competition doing better than you?

A rebrand will take an investment in time and financial resources to do a thorough job. It is also possible that you might lose some longtime customers because your brand is evolving beyond them. However, if done correctly, your brand will be positioned to stand the test of time and continue to grow for the long-term with the marketplace.

KIA

In 2021, this Korean carmaker decided to go for what’s been called a “dramatically different logo”. The slogan was also changed (now it’s “Movement that inspires”), as well as the company’s name (KIA ditched the word “motors” from the name to show a full-on transition into electric mobility). As the company’s CEO, Ho Sung Song, put it: “Kia’s new logo represents the company’s commitment to becoming an icon for change and innovation.”

(source: https://admindagency.com/blog/rebranding-examples-worth-your-attention/)

REFRESH

A refresh is a simpler process and doesn’t entail changing the core of how a company looks. It typically just includes adaptations to the following:

  • Logo
  • Font typeface
  • Color Palette
  • Tagline
  • Key Messaging

At the end it still looks and feels like the original design but is smoother and more polished. Typically, there is less of a time and financial obligation, but input from internal and external audiences is still critical to it being successful. Some market research is also a good idea to get aligned with buyer personas and market expectations.

Dunkin Donuts

For its brand refresh, Dunkin’ retained the familiar pink and orange colors and iconic round sans-serif font. However, the brand simplified its name to “Dunkin,” which is how their customers have affectionately referred to the company for years. This name change builds on rapport with their audience and portrays the brand as friendly and familiar. The departure from their previous branding also reflects their expanded menu—the modern Dunkin’ is more than a place to get coffee and donuts.

(source: https://www.yakketyyak.com/brand-refresh-examples/)

LAUNCHING A REBRAND OR REFRESH

Be strategic about how you launch a new look and feel for your company and make it exciting! Additionally, make them feel like you did this for them (which you did!!). And, most importantly, create a plan that ensures that new look is incorporated across all multi-channel platforms, marketing materials, signage, and key messaging. Tell your customers why you did it, what it means for them, what it means for the company and its products/services.

Looking to take a deeper dive into a rebrand or refresh for your organization? Contact Creative Vortex to schedule a free consultation!

Small Business Hacks For Busy Entrepreneurs (and Solopreneurs!)

The year is still pretty new and, personally, I am still working some kinks out! This made me think about being a small business owner and how over the past 16 years I have learned some lessons on how to be successful. In the spirit of wanting to support the next generation of up-and-coming entrepreneurs and solopreneurs, I have listed my top five hacks for making it.

1. Focus on Meaningful Projects

Make sure you are investing your time in projects that have real potential for making it to the launch pad. Your success is based on the success of your clients and putting a lot of time into a project that isn’t well researched, funded or doesn’t have a real strategy could mean a big waste of time and effort, as well as a paycheck that doesn’t materialize.

2. Free Up Your Time with Technology

Typically, entrepreneurs and solopreneurs are trying to wear a lot of different hats to save money. But make sure, you are saving TIME too! Use technology to automate your billing, manage your calendar, organize your projects and meetings and even support your actual work. Four of my favorite pieces of technology include:

  •  Dropbox – file sharing and storage
  • Asana – project management
  • Office Time – time tracking
  • Keeper – password management and sharing

It is also important to note that you should limit time spent surfing social media to less than 60 minutes per day. Nothing kills productivity more than getting sucked into mindless scrolling!

3. Leverage Your Network

Use your network to find clients, talk through best practices, support client work and, most importantly, open doors. Don’t be afraid or embarrassed to ask them about anything and everything. Most times people want to help and love it when asked for a resource or opinion. Just make sure to reciprocate the support in the future!

4. Be Smart About Meetings

There is no doubt that meetings are a necessary part of running and building a business but be smart about it. Here are few recommendations:

  • Only go to the part of the meeting you need to be a part of
  • Use Zoom to cut back on travel time
  • Limit the number of meetings per day
  • Be prepared and have an agenda
  • Be clear about your availability
  • Have a firm start and a hard stop

5. Take Real Breaks

We all need to recharge our batteries at some point. So, whether it be a daily work out, meditation session, lunch, or vacation, be sure to take time to shut the laptop and silence the phone notifications. Even taking 30 minutes a day to go outside for a walk or to sit in the sun goes a long way in keeping you mentally sharp to handle all ups and downs of small business ownership.

So, there you have it! Let me know if you need any more small business hacks.

Settle Into Your Zone of Genius

Ever get a feeling of energy and flow that is effortless when performing a task or activity? I am talking about pure Zen! That is a Zone of Genius and it is your own unique power. It can be described as the sweet spot between skills, strength and talents.  Most times, this is where entrepreneurs and small business owners are at and the reason they went into business in the first place. It is the passion that drove them to set out on their own and create a product or service that nobody else could!


What does this all mean? The activities you participate in typically fall within one of four zones:

  1. Zone of Incompetence – things other people can do better than you
  2. Zone of Competence – Things you can accomplish and other can do too
  3. Zone of Excellence – Things you can do better than others, but you don’t enjoy it
  4. Zone of Genius – Things that you are uniquely good at and thoroughly enjoy doing

As someone inspired to start and run your own company, it is important to recognize where your Zone of Genius lies and when you start to drift into incompetence, competence, and excellence. What are the activities that you are spending your time doing that you aren’t very good at or are not enjoying? Could someone else be doing it better? Finding the right workflow means understanding what you want, what you are good at and what the organizations needs to grow and thrive.

Working in your Zone of Genius is all about finding joy and energy in a task. Anything that falls outside of that in Zones 1 – 3 needs to be considered carefully and then outsourced to people that find purpose in the job. The task could be overhauled or even eliminated. The Zone of Excellence can be tricky because you will do it well but not enjoy it. This is exactly how people end up in jobs they hate for 20+ years! Be transparent about how you feel about tasks and responsibilities … to yourself and to the people around you.

What is the best way to realize our Zone of Genius? Consider leveraging these exercises:

  1. Monitor work related tasks for a set period … two weeks is usually a good baseline
  2. Put each task into the Zones 1 – 4
  3. Tally up what went into each Zone

This is the fun part! For all the tasks that went into Zone 1 – 3 figure out ways to either eliminate (most of the time it is not feasible to completely eliminate a task, but it is possible periodically!), outsource it or rework the task to make it enjoyable.

Understanding your Zone of Genius means embracing your natural talent, which often can go ignored because you feel pressured to “like” another job or task better, a negative and subjective work evaluation or simply because you are overwhelmed trying to be everything to everyone.

Want to learn more about finding your Zone of Genius? Check out this YouTube video!

5 Steps to Power Up Your Market Presence 

BRAND DIFFERENTIATION.
What exactly is it? How do you get it?

Brand differentiation is how your brand sets itself apart from the competition by associating a superior performing aspect of your brand with multiple customer benefits.

In essence, it is your competitive advantage.

Brand differentiation is an essential aspect of a brand marketing strategy. It enables companies to reveal their profitable qualities that help develop a unique selling proposition. This way, they understand their competitive advantage and stand out among competitors.

Companies selling status quo items in the marketplace are easily interchangeable and prone to fall victim to price wars because that is the only thing left for them to compete with. Consistently undercutting prices ultimately leads to a lower net profit for the business.

Below are 5 tried and true strategies for building competitive brand differentiation.  

Innovate

Innovation is really one of the best ways to stand out. Do your homework (or research!) and find out how to really solve your customers’ problems. If a product already exists, find out what the gaps are and where the trouble spots are. What are customers complaining about? Make products easier, simpler and more solutions-oriented to attract attention. Organizations that are consistently bringing innovations to a crowded marketplace are typically more successful and have stronger customer loyalty.

Presentation

Does your brand have a consistent presence? Presenting a brand that has a clear visual strategy (color palette, logo, tagline, etc.) across multiple platforms is more likely to be remembered by customers, and more easily recommended to additional customers.

Experience

Is the way that customers interact with your brand unique and dependable? Customer experience is felt through a brick-and-mortar store, website, social media, shipping, customer service unboxing/packaging and more! Perhaps, that customer experience even comes from being able to customize a product or service through a website, app or in-person event. Customer experience can either make or break a brand.

Price

Pricing can be tricky and needs to be handled properly. Companies need to find the balance between being affordably priced to offer financial value and being a premium brand with additional benefits at a higher price. To create a pricing strategy and differentiate your brand perform a marketing pricing analysis, target audience research, competitive landscape analysis, and lay out the results next to your business goals.

Emotional Response

How a brand makes a customer feel matters because it plays a big part in whether the person comes back to buy again or refers the company to someone new. Statistics show that customers with an emotional relationship to a brand have a 306 percent higher lifetime value and will recommend the company at a rate of 71 percent. Along that same line, 70 percent of viewers are more likely to buy a product from an ad after having an intense emotional response. Creating an emotional response from a customer is closely tied to the customer experience.