{"id":109206,"date":"2023-03-30T13:30:00","date_gmt":"2023-03-30T18:30:00","guid":{"rendered":"https:\/\/www.dacgroup.com\/brand-equity-how-to-defend-your-reputation-in-tough-economic-times-2\/"},"modified":"2024-12-20T08:48:25","modified_gmt":"2024-12-20T13:48:25","slug":"brand-equity-how-to-defend-your-reputation-in-tough-economic-times-2","status":"publish","type":"post","link":"https:\/\/www.dacgroup.com\/en-gb\/insights\/blog\/local-search\/brand-equity-how-to-defend-your-reputation-in-tough-economic-times-2\/","title":{"rendered":"Brand equity: How to defend your reputation in tough economic times"},"content":{"rendered":"

In our hyper-competitive age, digital brand equity is more important than ever. It denotes the value of your brand name and the sway that your company name has with consumers. Well-established companies with positive brand equity will be more likely to retain their customers, can command higher prices for their products and services, and will have in general more success with business expansion.<\/p>\n

With tough economic times on the horizon, defending your brand is more important than ever. Here’s how to go about it the right way.<\/p>\n

Your brand equity is crucial for growth<\/h2>\n

Today, brand equity is built not only through marketing and advertising efforts, but also through positive customer experiences. To retain your customers long-term, you must prioritize them, consistently delivering frictionless experiences that cater their needs and preferences. But keeping your customers satisfied is more challenging than ever, and your brand\u2019s health is fragile. We know, for example, that customer reviews and comments, which can fluctuate quickly, are incredibly influential on customers who will be triggered into reconsidering their brand choice by negative comments or reviews.<\/p>\n

This is why it is essential for you to keep a watchful eye on the public perception of your brand<\/a> and to leverage it to improve your offer and your positioning according to the moods of the time.<\/p>\n

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At DAC, we cover the whole chain of brand management, but we will more specifically focus here on the way we approach brand monitoring. This one is subdivided in two parts intrinsically linked but at the same time quite distinct: Brand sentiment analysis and online reputation management.<\/p>\n

Understand how people feel about your brand<\/h2>\n

A\u00a0sentiment analysis<\/a> looks at the specific language used in comments about your brand and can tell you if people are speaking about your brand with a positive, negative, or neutral sentiment.<\/p>\n

This is a great way to read between the lines and observe, on a large scale, how people are reacting to the launch of new products, to your campaigns, or your brand in general. Monitoring tools like Sprout Social or Meltwater let you access a detailed sentiment analysis.<\/p>\n

This understanding of your brand sentiment is key in the strategy you will put in place to acquire more reviews, and especially better ratings and comments.<\/p>\n

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Manage your reputation<\/h2>\n

It has never been easier to post negative comments online anonymously, and therefore it has become absolutely necessary to adopt measures to protect your business. Monitoring your brand helps you stay on top of your reputation<\/a> and handle issues before they get out of control. Listening to reviews and feedback online and having a process for responding and handling them can increase audiences\u2019 trust in your brand and show that you actually care about what customers are saying.<\/p>\n

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