The power of social media is undeniable, the importance it serves for small businesses cannot be ignored. From building relationships with existing customers and clients to connecting with prospective customers, social media is a force to be reckoned with, especially in terms of reach. Small businesses must invest time in creating, building and growing social media profiles on multiple different platforms, as it is a vital part of success.
Brand equity is the perception that consumers have of a brand. It’s the value of the product from a brand that is generated either through positive or negative perception from the customer. Strong brand equity allows a business to charge a premium price for a product and it still be popular and successful.