How to Raise Your Prices (Part 2)

In part 1 of this article we talked about what brand value is (if you haven’t read it yet, click here ). In this second part we will talk about some relevant points to generate this brand value , also called brand equity .

Before we begin, it is important to keep in mind that generating brand value does not require isolated actions. Brand value is generated through a continuous and never-ending process , unless the company ends.

Showing customers behind the scenes of your company can help them understand your entire production process and why you charge the price you do.

As I said in part 1 of this article, brand value is basically the public’s perception of the brand. And that’s where the danger lies! Because, whether they like it or not, the public forms a vision of your company in their minds when they meet it or interact with it. And, if you do nothing to work on or help shape this perception, they will think whatever they want about it, good or bad. So, it’s best that you pay attention to what people think of your brand and tell them “your side of the story” . An example of this is when a customer asks for a discount and the business owner gets angry and thinks: “the customer doesn’t appreciate it because they don’t know everything I have to do to perform this service”. However, this business owner doesn’t realize that the customer really doesn’t know, because no one has ever told him how the service is done behind the scenes.

Who’s who?

So, what do you think about starting to work so that people know and recognize your brand in order to generate value and a good relationship? I like to think of the brand as if it were a person and that it should relate to the persona of my business.

  1. Define your business persona
    • A persona is the personification of your target audience’s profile. It involves creating a character based on the “average” of the bosnia and herzegovina phone number list audience’s important personal characteristics for their relationship with your company’s brand. To do this, write about this character. What they are like, what they do, what they like, what they don’t like, what their hobbies are, their age, gender, beliefs, values, etc. It is extremely important to know the person your brand will interact with, even to know what they will talk about when they meet.
  2. Define your brand profile (your “brand persona”)
    • Just as you created a character that represents your target audience, create a character that represents your brand. Transform your brand into a charming character for your persona . Ask yourself, what kind of person does your persona (your target audience) like to be around? What would a person your persona admires be like? If they met, what would they do together? What would they talk about?

What are your intentions?

It’s always easier to get somewhere when you know where you want to go, right? Before starting a relationship with your persona , define what advantages of using Java and Angular in business development you expect from them, where you want to go with this relationship, what impression you want to make. Only then will you know how your “brand persona” should behave and act.

For example: I want the persona to see me as an authority in the field. Or, I want the persona to see me as a trustworthy brand.

The means justify the end.

The result is a consequence of this way of behaving, the way of speaking, what to say, the relationship with the persona . Only then, when it is the andorra business directory result of a consistent way of acting, is the relationship founded on solid foundations. And, a relationship of trust allows exchanges (sales) with less effort and cost.

Branding strategies

Here is a list of some important points to think about when creating your branding strategy .

  • Design
    • Identity: How does your “personal brand” dress? Take into account the “environment” you will be participating in and the profile of your persona .
    • Think about the logo, color, font, shapes, patterns, images.
  • Content
    • What topics do you want to talk about? Remember that what you say is also part of your identity. There’s no point in having a super laid-back logo and then making jokes on the internet.
    • Make a list of topics that your persona likes to talk about and that are related to their goals.
  • Advertising
    • What are you good at? Be humble, but don’t be modest and don’t be ashamed.
    • Show what you’re capable of? What did you come for?
    • Differential. What sets you apart from others? Why would they want to engage with you?
  • Presence
    • Help out and be social. Be part of the group, the community.
    • Be where the persona is

Remember that all actions must have two fundamental characteristics to work:

  • Frequency : Always be around, but don’t bother anyone. Finding the limit between being present and harassing them is important. Always leave the door open with communication channels available to your audience, and don’t forget to respond as quickly as possible.
  • Consistency : Don’t change your speech every time you talk. Be consistent in your arguments and ideas, but don’t be intransigent. Be open to opinions. Remember: you are talking to the persona and not arguing with them or giving a monologue.

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