One of the most important things that sets the tone for customer relationships for businesses is brand perception. Consumer behavior has changed, and consumers of today widely share their experiences and opinions with their close ones and on social media.
Customers who have a positive experience with a brand will most likely recommend it to friends or family. Brand perception refers to how consumers view and perceive a brand. It goes beyond the products and services offered by the brand.
It encompasses the emotions, beliefs, and experiences associated with a brand. Although most brands know the importance of brand perception, they still fail to improve it. In this post, we will discuss some reasons why brand perception matters and how it can impact a company’s growth and success.
Influence on Consumer Decision Making
The first reason why brand perception is important is that it can heavily influence consumer decision-making. A brand with a positive brand perception among consumers is trusted and relied upon by most, leading to their choosing that particular brand over others, even if they offer similar products and services. A great example of this is Hilton, which is perceived positively and trusted by people all over the world.
A positive brand perception can lead to a loyal customer base. When a brand is perceived as authentic and trustworthy by consumers, they are more likely to become repeat buyers of that brand.
Building Trust and Credibility
Brand perception also plays a vital role in building trust and credibility for a brand. Trust is the foundation of any successful brand-customer relationship. When customers have a positive experience with a brand, they are more likely to perceive it positively, which builds their trust in the brand. This helps to attract new customers and retain existing ones.
Additionally, positive brand perception can also lead to a brand earning credibility in the market. When a brand consistently delivers the same quality products and services and meets the expectations of customers, it earns positive brand perception and credibility in the market.
Differentiation from Competitors
Positive brand perception can play a huge role in helping brands differentiate themselves from competitors. In a crowded and saturated market where multiple brands offer similar products and services, brand perception can become a key differentiator. Customers are attracted to and more likely to pick a well-perceived brand than a brand that has a negative perception among consumers. Hyatt, a popular hospitality company, is perceived well by consumers, which is why it has developed a name for itself in a saturated market.
Employee Engagement and Retention
A positive brand perception is not only good for external stakeholders, but it also impacts internal stakeholders, viz., employees. Since all employees have social lives too, they take pride in working for a well-perceived brand and can proudly tell their peers and family that they work for a particular brand. This leads to higher job satisfaction and motivation.
Furthermore, positive brand perception can also help businesses attract and retain top talent. Potential employees are more likely to choose a well-perceived brand that has a strong reputation among the public.
Crisis Management and Resilience
Every business is prone to facing crises at some stage of its growth. During crises, positive brand perception can be a lifesaver for companies. Brands that are regarded well among the public tend to weather crises better than those that aren’t, as customers are more forgiving and supportive. A positive brand perception can aid a brand in its recovery during a crisis or negative event, as it already has customer trust, which allows it to bounce back more easily.■ #hydnews #khabarlive