26 December 2016

The importance of brand building in the digital age

Before we take a closer look at how branding plays a vital role in today's digital world. Let us look at the global statistics that digital media contributes.

2014 statistics states the no. of users in digital media.

Many businesses and marketers that integrated social media into their digital marketing campaign already realized several advantages and benefits from their campaigns. 86% of these marketers acknowledged the importance of social media to their businesses, with 75% reported an increase in traffic while more than 64% generated an increase  in leads spending just 6 hours each week on social media marketing.
The industry that we operate is moving at lightning speed – the constantly evolving technologies, emerging social media platforms, viral videos, streams of memes & trolls, algorithm updates, increased mobile adoption and so on, making it easy to forget about one of the few things that has stayed comparatively constant…the brand.

Over the years, we have seen a marked change in the digital scenario as opposed to traditional marketing. I can definitely say that my biggest learning curve has been understanding the true concept and value of the brand.

What’s the Difference between Branding and Marketing?

The most helpful definition I found for distinguishing branding and marketing is this; while marketing is more of a push tactic, branding is more of a pull tactic. Marketing promotes a product or service, while branding gives meaning to why a business exists and communicates its core values. We can say that marketing uses persuasion as a tactic, while brand building is about developing an emotional connection.

Branding and the Digital Age

Building a strong brand in the digital age is vital.

  1. Online users have got more freedom than ever. With information at their fingertips, users are spoiled for choice in terms of products and services. A well defined brand is essential for distinguishing your product or service from the rest.
  2. Branding is a tool for developing and maintaining a competitive advantage. In the challenging world of digital media, staying competitive is even more of a daily challenge.
  3. Branding has always been about being connected. Digital heightens the connections of brands, people and things.
  4. The online customer relationship rarely ends with a sale. Brand building in the digital environment should leverage this and convert one time customers into successful brand loyalists.
  5. Brands have less control over what is said about them online. Users have access to the opinions of other users, which heavily influence their purchase decisions.
  6. In addition to paid and owned media, strong brands have the advantage of earned media – such as communities, brand advocates and brand evangelists.
  7. It's time to say goodbye to the generic model; today there are various touch points where users engage with brands, however branding ensures a consolidated message.
  8. Remember branding is not only about your product or service – it’s about your social engagement, customer services, sales process, your employees and everything in between – think about how digital has changed the above.