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Your Online Brand Equity Matters

—November 19, 2013
Your Online Brand Equity Matters

Posted By: Stephan Brisard

In today’s digital age, with millions of people receiving their information from social media sites, the perception of your brand online is a significant asset to your business. It is how the majority of your customers will come to find and create an image of you. Consumers seek to engage with businesses more actively – seeking a conversation rather than being told what to buy.

In the Harvard Business Review article “How to Build a Brand on the Web? Ask Unilever” by John Deighton and Leora Kornfeild, they discuss how Dove added $1.2 billion to its brand value over three years by understanding how to handle their online reputation. “The locus of control in the marketplace shifts from marketer to consumer, and success is built on a model of co-created meaning.” Clearly, a business’s online brand can paint a picture of a customer’s attitude of how to create a better image.

So how can you monitor your online brand in the auto repair industry? Simple. Reputation Manager is a set of tools that specifically helps you find, analyze, and understand what people are saying about your brand online. With text analytics, web surveys, and a metrics dashboard, Reputation Manager is your resource to help you keep on top of what people are saying about your business so that you can have the important conversations that really matter.

Once you have a grasp of your online brand reputation, own the perception! Start with consistency of your offline and online brand. Once the two are connected, any moves you make will take impact across the spectrum of your customer base. For example, $183 billion – or 34% – of Apple’s overall $623 billion value is ascribed to the intangible contribution of “brand” to its valuation. By taking the time to align online brand with offline brand, a business quickly takes advantage of opportunities arising from either realm leading to growth and sustained profitability.

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