Hi, it’s Gourav Meet here. As a digital marketing expert, I’ve had the pleasure of working with numerous clients across various industries. One thing that I’ve noticed is that many businesses tend to overlook the importance of brand equity in their marketing strategies.
You’ve spent hours creating a catchy slogan, designing a beautiful logo, and crafting a memorable ad campaign. But have you ever stopped to think about how much value your brand holds in the minds of consumers?
This is where Marqueval comes in. It’s a unique approach to brand evaluation that can help you unlock the full potential of your brand equity.
Brand equity refers to the value that your brand holds in the minds of consumers, and how it impacts their purchasing decisions. A strong brand can help you command higher prices, generate customer loyalty, and drive long-term growth.
What is Marqueval?
Marqueval is a brand evaluation framework that helps businesses assess their brand’s equity and identify areas of improvement. It’s a comprehensive, data-driven approach that takes into account various factors, including customer perception, brand messaging, competitive positioning, and visual identity.
How to implement Marqueval?
Implementing Marqueval involves the following steps:
- Discovery phase: This involves gathering data about the business, its customers, and its competitors. It includes conducting customer surveys, analyzing market trends, and reviewing the brand’s messaging and visual identity.
- Evaluation phase: This involves analyzing the data collected in the discovery phase and identifying areas of strength and weakness in the brand’s equity. It includes evaluating the brand’s customer perception, competitive positioning, messaging consistency, and visual identity.
- Strategy phase: Based on the evaluation phase, a brand strategy is developed that focuses on improving the areas of weakness and capitalizing on the areas of strength. The strategy includes recommendations for improving the brand’s messaging, visual identity, customer experience, and competitive positioning.
- Implementation phase: The final phase involves implementing the brand strategy across all touchpoints, including the website, social media channels, advertising campaigns, and customer interactions. It includes creating a messaging hierarchy, developing visual guidelines, and establishing a consistent brand voice.
The Process to Implement Marqueval
The Marqueval process is designed to be flexible and adaptable to the specific needs of each business. However, it typically follows the four steps outlined above, with each step building on the insights and recommendations of the previous step.
The discovery phase involves gathering data about the business, its customers, and its competitors. This includes conducting customer surveys, analyzing market trends, and reviewing the brand’s messaging and visual identity. The evaluation phase involves analyzing the data collected in the discovery phase and identifying areas of strength and weakness in the brand’s equity. This includes evaluating the brand’s customer perception, competitive positioning, messaging consistency, and visual identity.
Based on the evaluation phase, a brand strategy is developed that focuses on improving the areas of weakness and capitalizing on the areas of strength. This strategy includes recommendations for improving the brand’s messaging, visual identity, customer experience, and competitive positioning.
The final phase involves implementing the brand strategy across all touchpoints, including the website, social media channels, advertising campaigns, and customer interactions. This includes creating a messaging hierarchy, developing visual guidelines, and establishing a consistent brand voice.
Here’s an example of a fictional fashion brand, “Stella’s Style,” implementing the Marqueval framework:
Stella’s Style is a fashion brand that specializes in affordable and trendy clothing for women. The brand has been in business for five years and has a strong presence on social media, but they’ve noticed a decline in their engagement rates and sales in the past few months.
Stella’s Style decides to implement the Marqueval framework to evaluate their brand equity and identify areas of improvement. They follow the four-step process outlined in the previous section:
- Discovery phase: Stella’s Style conducts a customer survey to gather data about their target audience’s preferences, shopping habits, and perceptions of the brand. They also analyze their competitors’ social media presence and product offerings to identify potential gaps in their own brand positioning.
- Evaluation phase: Based on the data collected in the discovery phase, Stella’s Style evaluates their brand’s customer perception, competitive positioning, messaging consistency, and visual identity. They identify that their messaging is not consistent across all touchpoints, their visual identity needs a refresh, and their competitive positioning needs to be more clearly defined.
- Strategy phase: Stella’s Style develops a brand strategy that focuses on improving the areas of weakness and capitalizing on the areas of strength. They decide to update their messaging to be more consistent and focused on the benefits of their clothing, refresh their visual identity with a new color palette and logo, and define their competitive positioning as an affordable yet stylish option for trendy women.
- Implementation phase: Stella’s Style implements the brand strategy across all touchpoints, including their website, social media channels, advertising campaigns, and customer interactions. They create a messaging hierarchy that prioritizes the benefits of their clothing, develop new visual guidelines with their updated color palette and logo, and establish a consistent brand voice across all channels.
As a result of implementing the Marqueval framework, Stella’s Style sees an increase in engagement rates on their social media channels, an improvement in their website’s bounce rate, and a boost in sales. They continue to monitor their brand equity using Marqueval and make adjustments to their strategy as needed.
In conclusion, as an expert in digital marketing, SEO, and SMM paid ads, I’ve found that Marqueval is a powerful tool that can help businesses of all sizes and industries to achieve their full potential. By taking a comprehensive, data-driven approach to brand evaluation, businesses can gain a deeper understanding of their brand equity and its impact on their performance.
If you’re looking to take your brand to the next level, I highly recommend giving Marqueval a try. As always, if you have any questions or need any help with your marketing strategy, feel free to reach out to me at gouravmeet.com.
