88 percent of the American adult population shops online. That underlines the importance of strong online visibility for today’s enterprises.
Owning a top-quality business website is one of the best ways to engage with both your potential and existing online customers. Shockingly, less than 64 percent of small businesses had a website as of 2019.
But having a strong online presence isn’t enough. To thrive in an increasingly competitive online business space, you need to build brand equity too.
In today’s comprehensive guide, we outline some actionable ways you can strengthen both your online presence and brand equity. Read on to learn more.
What Is Online Presence?
Online presence refers to all content and activity that you have under your name on the internet. For a business, an online presence includes all assets, accounts, interactions, and information created by or about your company.
Many startups and small businesses don’t take their online presence seriously enough. Once they create a website and a social media profile, they assume they now control their brand’s online presence.
But online presence is much more than the digital profile you created on your website and social media pages. Typically, online presence gets distributed across numerous platforms and channels on the internet.
To make things clearer, let’s talk about the two categories of online presence:
Owned Online Presence
Owned online presence refers to the content you create and publish online under your business’s name. Generally, this content is meant to build brand awareness. As a company, you have control over your own online presence.
Earned Online Presence
Earned online presence refers to what others say about you. This type of online presence can take any format and be posted on any platform by anyone who chooses to talk about your brand. That includes social media posts, video reviews, Quora answers, and online directories.
In most cases, a company’s online presence is created by others, particularly when the company is still in its early stages. These people may be prospects seeking answers, angry or frustrated users, and even competitors.
The bottom line is that while you can contribute significantly to your online presence, you can’t entirely control it. You should, however, monitor it and do the necessary to make it a positive one.
What Is Brand Equity?
Brand equity refers to the value of a brand in and of itself. It describes the sway that your brand name has over your consumers’ minds and the social value of having a well-known and positively thought-of brand name.
You can establish your brand equity by creating positive experiences that inspire consumers to keep choosing your products over similar products made by your competitors. This is accomplished by generating brand awareness through well-planned marketing campaigns. Aim to speak to your target customer values, deliver on your promises, and implement creative customer loyalty and retention programs.
How Can You Boost Your Brand Equity Through Your Online Presence?
The online space is a great platform for small businesses looking to establish brand recognition and build brand equity. However, you need to plan every move carefully, so you get the intended results. Here’s how to leverage your online presence to enhance brand equity:
Invest in Online Advertising
Traditional advertising methods, such as television and print, are still popular in the US. But in recent years, online advertising platforms, including social media, have made it easier and cheaper to reach target audiences.
Once you’ve set up a top-notch business website, consider creating social media profiles for your business on major platforms. Use these platforms to engage with your existing and potential customers. You can also post links to your website on your social media pages.
Most online platforms allow you to advertise your products free of charge. However, it may make sense for you to opt for a paid online marketing strategy to boost your brand awareness more effectively.
Encourage Employee Advocacy
Using employee advocacy to boost brand awareness is a strategy that has been around for years now. However, many companies are yet to catch on the impact that this approach can have when it comes to boosting brand equity.
Word of mouth advertising can do wonders for your brand. Why not encourage your employees to spread the word about you on their online profiles?
Some of the top companies have hundreds of their employees sharing content about their work, company culture, and more on their social media profiles. The social reach in such cases is tremendous.
Publish Quality Online Content
82 percent of consumers view a brand favorably after reading customized content. Users want to read meaningful, fresh content when they visit your blog or social media pages.
You need to start creating and publishing content regularly to attract a stable flow of traffic to your website. It also pays to partner with a reputable New York SEO company to keep your content optimized and at the top of search engine result pages. That’s because great content will do you no good if users can’t find you when browsing online.
Engaging content encourages readers to share it with others on their platforms. It’s how posts go viral, which is great for your brand equity.
Offer Online Customer Support
Another powerful way to boost brand equity through your online presence is by offering customer support. Instead of having to call your office or send you emails, customers can converse with you via chat. It’s easier for them to ask questions and get their issues resolved.
The more interactions and conversations you and your customers have, the more your brand equity grows.
Go out of your way to respond quickly and transparently to customer questions. Make enhancing the online conversation experience exceptional for your customers. Doing so invites favorable views of your brand.
Use Your Online Presence to Grow Your Brand Equity
The importance of brand equity is unquestionable in today’s competitive business environment. If consumers view you favorably and trust your product or service, you can stay ahead of your competitors.
Thankfully, the world has gone online. That means, using your online presence creatively, you can keep your consumers engaged. This can help boost your brand equity considerably. Would you like to read more great content on improving your brand equity? Please keep visiting our blog.