One of the marketing mysteries for most entrepreneurs is the evolution of their brand. How can I build brand equity? What can I do to leverage the power of my brand? How can I encourage more brand loyalty?

A brand is both intellectual property and a living, evolving asset that can be monetized. It differentiates one product from another when they are competing in a category of goods or services. Greater brand awareness can translate into more sales, but this is not a given. It is not a magical, mysterious process though. 

The brand building process requires investment capital and a strategy.  It begins with an understanding of the loyalty continuum. Understanding the importance of each step in the process does not result in brand equity, but knowledge and superior execution of tactics related to each step culminates in loyalty.  

What are the steps in the continuum?

1. Generating brand awareness-a brand that is not known is usually not considered or ignored by buyers unless it competes strickly on price

2. Consideration frame-differentiate and enhance the image of your brand and it will be considered a “viable choice” in a short list of brands for that category. An example might be three or four car models you would consider if you had to spend $30,000 on a new sedan.

3. Trial-whether it is a test drive or trial size of perfume, buyers want to try on or experience your product before they buy. How can you facilitate trial and incent more individuals in your target market to “try it on”  

4. Repeat/frequency-once buyers have purchased your brand, buyer’s remorse is the enemy of loyalty. You must reenforce the buyers decision and provide reasons and products they will want to purchase again and again. This behavior is habit forming and is closely tied to creating loyal customers

5. Loyalty-loyalty is the holy grail for brands because these buyers will accept no substitues and pay more for your brand’s version of quality. Apple is a master of moving people from trial to loyalty. See Alex Morgan’s comment to my blog on the Perfection Trap