Brand relevance is a company’s way of satisfying consumer needs, thereby connecting with them on a personal and emotional level. The consumer depends on the brand to fulfill their need and it is therefore relevant to them and their life. Brand relevance helps increase brand loyalty, equity, and value.
Uber Stayed Relevant
Smart companies strive to achieve relevance to their target markets. Uber was an early entrant into the mobile app ride-sharing industry. As new competitors emerged, Uber maintained its position as the dominant player in an industry it helped to develop.
Uber continually increased its relevance and is still the #1 rideshare service with over 100 million users. Uber is so relevant and has so much brand equity in the ridesharing space that their brand has become generic and may be used as a verb as in, “I Uber’d home after the party.”
Maintain Brand Relevance to Increase Brand Value
A brand may be preferred because of a unique point of difference, an exemplary customer service interaction, or the convenience of a service that makes life easier. These useful benefits will increase brand relevance and strengthen overall brand equity and value.
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