Brand equity is the combination of various components that balance the value of a current products/services made by the brand. Keller’s Brand Equity Model also called the Customer-Based Brand Equity (CBBE). The model tells us that the higher equity leads to more customers, who will loyal to your brand and recommend you to others. The model consists of four levels.
Level 1: Brand Identity-Who Are You?
You are supposed to create brand awareness as you have to advertise and let people know about your company. You are not just creating an identity, but you ensure that perceptions are correct as it is the main stage of the buying process.
You need to know that how your customers see your brand. Next, identify how they narrow down you as there are many competitors in the market. You need to know the unique selling prepositions (USP).
It is necessary to know about that whether your customers are getting your USPs that you have used. Are they satisfied or not?
Level 2: Brand Meaning-What Are You?
Your goal in this step to build two building blocks “performance and imagery.” The performance consists of five categories: product reliability, durability, serviceability, effectiveness, efficiency, and empathy. Imagery includes style and price of a product.
The customers’ experience is the direct result of your product performance. If you need to build the trust, you have to exceed the expectations by making high stands. Take both performance and imagery into account, and rebuild your brand personality.
Level 3: Brand Response-What Do I Feel About You?
The response you get from your customers falls into the categories judgment and feelings.
You have to take into account the categories of judgment and consider these questions.
• What can you do to improve the perceived quality of your brand?
• How can you exchange your brand’s credibility?
• How well does your marketing strategies communicate your brand relevancy to people’s need?
• How does your brand compare to your competitor?
In the last you have you to identify, and sort out the actions that act against these questions.
Level 4: Brand Relationship-What About You and Me?
It is the hardest and desired level to reach for a brand. Keller breaks this resonance into four categories:
Behavioral loyalty: That includes regular and repentance of the purchase.
Attitudinal achievement: Customers will give more attention to your brand, and buy them more.
The sense/feeling: Customers create a sense of community with the people who have an association with your brand.
Active engagement: Customers will stay loyal to the brand if they are buying it or not.
Your goal in the final stage is to strengthen each resonance category like what strategies you can follow to build your customer’s loyalty. Ask yourself what more you can do for your clients who are the fuel of your brand.
Keller’s Model guides brands on building the brand equity, and how they take right steps to achieve it that makes this concept a brilliant one.