Be Your Own Brand—A Breakthrough Formula for Standing Out from the Crowd

Building Brand Equity

This brings us to the concept of brand equity. A brand relationship is like a bank account. When something strengthens the relationship, you're effectively making a deposit. When things consistently strengthen the relationship, the balance grows—and accrues interest.

Brands are like that. Successful interactions build the expectation that things will go right the next time, too. If they do, brand equity continues to grow. When something goes wrong, on the other hand, the equity in the brand account is tapped and reduced. If the account is well into the black, even major problems can be encountered and survived without destroying the relationship. But if the balance goes into the red, the relationship can be irrevocably ...