Why build brand equity when you can be a part of an existing brand, right? Wrong! If you want to be successful, you must know how to build brand equity for yourself.
Brand equity – the uniqueness of your own brand.
It sounds great, but most new affiliate and network marketers try to avoid this, simply because it seems too much work. When they first step into the industry, they have two options:
1. Build brand equity and work on branding an entirely new product/service.
2. Find a leader and work in affiliation with them, promoting an existing brand without creating one; this is also called ‘leveraging a system’.
Many people who are familiar with affiliate and network marketing go for the second option, simply because it’s easier to work on an existing brand than create one. Using existing branding is also believed to be more likely to be successful. Yet, I believe one should always build brand equity. Why and how to build brand equity? I will explain it to you.
One of the most important things that you need to learn in order to understand the need to build brand equity is the process of sales. You might think that advertisements and content and the product itself is what helps you make sales. What do I think? It is actually YOU who is making the sales.
There are many people out there who come and tell me, ‘people are just going to look at the product’, ‘ they don’t care who is selling it’, ‘it is all about product pricing’ and what not. My opinion? This is all simply WRONG! And I am going to show you why.
Ever since I started my online business, yes, I did make sales by marketing good products. Yet, most of the sales I make are not because of the products but because of me. I work hard day and night to keep people updated on the latest information about internet marketing, and do all I can to help them establish their businesses. At this point, I am not making sales, but I am trying to build brand equity and am getting something a lot more important…
These people whom I help with all my heart and with no bad intentions, they learn to trust me. And that is when I get the chance to benefit out of my business. I can HONESTLY suggest to them the products that I think will benefit them, and share the affiliate links for these products. And trust me, there are so many of my followers who have told me that they bought a product simply because I suggested it and they would never have bought it otherwise. They buy it because I choose to build brand equity and they recognize and trust my business. Which means that it is not about the product, it is about ME whom they trust.
So how to build brand equity?
Honestly, there is no one way. It is all a combination of techniques that work the best for you. However, my best method to build brand equity was and is observation. This can especially help you if you are a new business owner. Don’t just trust the word of others; actually see what they do. For example, see how successful people blog, how they generate leads, how they position offers, etc.
All in all, you are always going to have to try different methods to build brand equity and then decide which one is your favorite. But one thing is for sure: Do not go for being a part of another existing brand. Sure, building your own is going to be quite some work. But I promise you it will pay off!