How do I build a higher perceived value in my brand?

Why can Starbucks charge twice the price for a coffee vs Greggs? I’ll tell you why - they have a higher perceived brand value. For them, that means they can charge more, justify their cost and still build loyalty.

Chances are, your brand doesn’t exist alone, in a totally unique sector, void of competition. You’ll have competitors too. And if you don't want to get into a price war, one of the best things you can do is to create a higher perceived value for your brand.

How do you do that? And what can you learn from this idea to help your business? Here are a few things to consider.

Be consistent
In simplest terms, consistency = awareness = trust = loyalty = brand value.

Therefore, ensure a uniform identity and attitude across all platforms. This will include everything visual, but it must also include the verbal—what you say and how you say it.

Stand out
It’s not necessary to be different from every single brand out there. It might even be impossible to be totally original. But aim to maintain some distinction within your sector. Either in your identity, value proposition, service or personality.

What is the competition doing? How can I stand out in a positive way? And while you’re asking yourself these questions… how distinct are you willing to go?

Have belief
Once you have a brand, commit to it. And don’t change it unless it’s causing you problems.

That’s one reason why Porsche manages to retain so much loyalty. The adherence to their iconic silhouette would suggest they aren’t shaped by trend. Which, in turn, makes them feel resolute in their design and engineering vision; a company worthy of your investment.

Be simple
Plainly, a simple form is understood quicker. And understanding builds familiarity, which builds preference.

Complex ideas and graphics will frustrate your customers. Are they trying too hard? Are they confused?

Simplicity screams confidence. Less is more. Which is gold-dust for communicating value to your customer. Of course, the best example of this is Apple.

Consider every detail
“Look after the pennies, and the pounds look after themselves” speaks to the concept of concentrating on detail. First a financial proverb, the same principles apply to your entire business.

For your brand to have one voice you must consider the detail and consistency at every touch-point. The signs on your doors should be as well designed as your website. It plants the seed of trust in your customers.

A brand is hard to build and easy to break. I started to watch an online tutorial earlier this week, and the instructor misspelled 'Mosaic' in the title of his video. Everyone makes mistakes, but that level of mistake signals a lack of care. That session ended quickly.

Design aside, there are business considerations, too.

Consider your pricing strategy
An interesting philosophy—which isn’t for everyone—is to consider your pricing strategy. We’re hard-wired to think that more expensive = better. Can you ever remember the Apple sale? Me neither. How do these, or other pricing strategies, inform our relationships with a brand?

Make your product or service better
That’s a grand statement, but it is inarguable that a product or experience that feels considered and robust will give more comfort to your customers. It suggests a level of commitment from the brand that promises performance and durability. In essence, better value for money.

Great service. Great experience
Bad service is easy, which is why most companies are doing it. Hiding your contact details behind a form. Being difficult about returns. Replying late.

Good service is hard to sustain, but has a massive impact on your brand’s perceived value.

Amazon has totally rewritten what good service means today. The staff are empowered. Eager to solve problems. Easy to access. The result? The service team have become champion’s for the Amazon’s brand. Real people too. How refreshing.

Take a long-term outlook
Even signalling that your brand is about the long game is a plus for your perception.

Patagonia, the outdoor clothing company, has built their entire brand on supporting environmental protection.

IKEA literally owns forests to ensure responsible sourcing of wood. Taking a long-term view and communicating that to your customers expresses that you’re not after the quick buck.