Stand out from the thousands of products in e-commerce platforms and retailers
What do you remember about the most successful brands in Malaysia? They advertise.
They advertise with the objective to build their brands via awareness and reach.
This creates a pull effect, drawing people to know more and creating a sense of familiarity when the consumer finally meet with the product or service at the point of purchase.
Brand equity: An important long-term marketing objective
Successful brands advertise to build brand equity. With the ever-growing pressure for sales targets, some modern day marketers hesitate to invest in this important brand-building activity.
More marketing budgets are allocated for short-term push effort such as discounts and vouchers, or distribution network like e-commerce platform commissions.
The key is balance. As businesses, we need to maintain a healthy balance towards long-terms goals as well as short-terms ones.
By not allocating sufficient funds towards building brand equity, a marketer is playing a dangerous game of spending precious resources on one-time reward.
Short-term marketing objectives (Conversion-based) – Spend once, get a fish now
Long-term marketing objectives (Brand awareness) – Spend once, get continuous stream of fishes in the future.
That’s why brand equity is so important, and why the most successful brands continue to invest in it. A strong brand attracts customers so you do not need to run after them all the time.
Trust: It takes time to build
Much like savings, there exist a compounding effect to the brand equity that you built. Brand equity allows you to stand out from competition and get that sale even though you’re slightly more expensive than your competition.
But savings take time to compound, just like brand equity. So the sooner you do it, the better. And as you keep investing into the brand, consumers become more familiar with it and trust it more over time. It is the best moat to deter new competition from entering into your market in the future.
And you can bet the competitors are coming. There are going to be many more products and services in the market, new options for your customers to choose from. As e-commerce platforms and retail distribution consolidate, they are going to have more and more power over brands. Commissions will increase. Customers will demand more discounts and vouchers.
How can you as the marketer, make people search for your brand instead of using a price filter in the e-commerce platforms? It’s only possible with consistent brand building activity to raise brand awareness, with sufficient reach and frequency.
WE CAN HELP
If you wish to invest more in building brand equity, consider our platform.
As an overview, CeriaSihat.com is a credible and loved Urban Malay Health & Lifestyle Website in Malaysia with over 300,000 unique monthly visitors, viewing 700,000 pages per month.
We have a unique offering in that we’re able to help you reach out to the biggest, most valuable target audience to market your products and services.
The number of our readers, followers and subscribers are growing rapidly and they’re more engaged than ever in conversations about how they can improve their lives.
If you wish to know more on who to reach out to when you’re building brand equity, here’s an article for you on The Most Valuable Market Segment in Malaysia.