Brand equity can be referred as the impact that a brand creates on a consumer or the perception about the brand. There are many factors that contribute to brand equity such as name, advertisements, reviews and publicity. A brand with strong brand equity is well known and is likely to have a positive association with the consumers.
Social brand equity is similar to brand equity but the difference is that it is created online. Social brand equity is created by strong online conversations. Social brand equity can be referred to the positive sentiments created in the minds of consumers towards the brands. This can be measured by analyzing the volume of buzz created online which includes social networking sites, blogs, forums, websites etc. Strong social brand equity indicates the presence the brand has created online creating awareness among the consumers and also develop affinity by convincing consumers to share information related to their experience of using a specific brand’s products.
Social Brand Equity definition from Financial Times
