Startup Funding Espresso -- Brand Equity

Brand Equity

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Brand equity is the value that comes from customer recognition of the brand.

Startups with brand equity command a higher price for the product and differentiate from the competition.

Here are the key elements of brand equity:

Brand recognition

Customers recognize the visual identity of the brand and value it.

This differentiates your startup from the competition and reduces the cost of acquiring new business.

Brand perception

Customers understand what your startup does based on the brand.

Customers are aware of your promise, values, and mission.

Brand image

The brand generates an emotion when customers see the image.

It is the emotional component of the brand that connects with the customer.

Brand value

The brand stands for quality and helps the customer justify the cost of the product.

It is the logical component of the brand.

Brand equity impacts a startup's financial performance including revenue, cost of sales, and profitability.

Other benefits include lowering the cost of launching a new product, upselling and cross-selling, and lowering churn.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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