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A website is one of the most powerful tools for business in the modern era. This is the digital era, after all. If you do not have a digital presence, it will be hard to survive in the market regardless of how good the service you provide. A website enables you to build your digital presence. Sure, you can do the same without the website, but the process will be extremely hard.
Like the website, brand value and brand name are other of the best tools you must have. The good news is that you can use the website to build your brand value. Besides, it is much easier to build a website than increase your brand value.
But how does a website increase your brand value?
Before we get into this, let’s be clear about what a brand value is and how it is helpful for your business!
What is Brand Value?
A brand is also known as the virtual image of your company/ product. For some, their brand is represented by the color; for others, it is done by the shape of their products, and for some, it is done by a special brand email. When people attach value to this virtual image, the said value is known as a brand value.
How does brand value affect your business?
So, a brand is simply an image, and a brand value is the “worth” attached to that image. How does it affect your business?
Although it is a complicated process involving many assumptions and calculations, it can be laid out in layman’s terms with a few simple points.
Your Business Recognition
The greater your brand value, the more people will know about your business. If your Financial brand value is high, investors will keep looking for your brand. If your perceived brand value is high, customers will recognize it.
Customer loyalty and price sensitivity
While customer loyalty and price sensitivity may seem like separate things, they are virtually the same. To explain this point, if your brand value is high, your customers will be more loyal to your business and will not mind price increments by much. On the flip side, if your brand value is low, your customers will not think twice before switching to new brands with the slightest price fluctuations.
Employee satisfaction is a lot like customer loyalty. The more your brand value, the better employee satisfaction, and less turnover ratio. The less your brand value, the lower your employee satisfaction and the higher the turnover ratio. We shouldn’t need to tell you how a brand image can build your business or completely ruin it.
So how does a brand value affect your business- by either instigating people towards you or away from you.
How does a website Increase your Brand Value?
Now that we know what a brand value is and how it affects your business let’s get to the core of this topic. How does a website increase your brand value?
As we mentioned earlier, a website is one of the must-have tools for your business, regardless of what size it is. In this day and age, the first thing people do is search about your business on the internet. If you lack presence, you will have lower credibility than your competitors.
The good news is that with a little bit of work, you can build some form of business presence as long as you have a website. How? Let’s take a look.
1) Online Presence
Although not much initially, having a website will help you build your online presence. The first thing that people do nowadays when they hear about any form of business is check if they have a website or not. A website is not just a place to dump your organizational information but also to get noticed online. Website posts well-researched articles and elaborate their service properly; it is only a matter of time before it gets noticed. The more noticeable a website is, the more it is trusted.
As mentioned earlier, this is a form of brand value known as perceived brand worth. In short, a website helps your brand to stand out and be trusted by your competitors.
2) Helps to build trust
A website business with an easily found and updated website is trustworthy. There are no second opinions about this. Although the older clients may not necessarily care about what goes on your website, new clients or potential clients do. Those truly interested in your services will spend a decent amount of time checking your website for information regarding your principles and services before making first contact.
This is a form of research from the client’s side for trusting if a business is legit and a form of perceived brand worth. Although your business brand worth can be raised without a website, it will take a long to make your customers trust you.
3) Point of Contact
Whether investors or potential clients, they always value a business with a simple and accessible contact medium a lot higher. The good news for you is that they can easily find your information and initiate the first contact if you have a website. This hassle reduction will make customers and potential investors raise their opinion of your business and related products. This is an increment of brand worth – customers having a higher opinion of your business and its products.
If you wonder why it’s simply because they can contact you easily to make a purchase. At the same time, they can also complain easily should your business commit some accidental mistakes. This leads to a chain of interaction which will again raise the customer’s perception of your business in their minds- another gain for perceptive brand value.
4) Make use of Social Networks
With a website, you can simply use all the social networks to promote your business, products, and brand. You need to hire a capable social media or digital marketing strategist and spread awareness about your business.
At this point, your business becomes your brand. The more business you get, the better your brand awareness. It is tedious but still simple to build a decent brand image on networking platforms like Facebook and Linkedin and get some exposure. The more you get exposed, the more potential clients you have. Should this happen, both your financial brand worth and perceptive brand worth will see a steady rise.
5) SEO Rankings
This is another simple yet important aspect of websites in this age of the internet. This is an era when people immediately google anything they encounter- including your business.
Sometimes just having a website is not enough for your brand value to be high – it needs to be high on the Search engine rankings. The good news about this is that any website can get high on search engine and SEO rankings with enough effort and planning. Sure, it will take a bit of time, but it is still better than having no website and solely relying on meeting personally to spread your brand name and value.
Being high on the SEO rankings will not just raise your brand value in your local area but also has a chance of making your brand known internationally.
By now, you should be well aware of what a brand is, what a brand value is and how a website increases your company’s brand value. It simply makes more people aware of your company/ business and becomes a medium of building trust along with your business!