The digital age has not made the basic principles of brand building obsolete. The core concepts are still being practiced with just a few tweaks. Branding is still based on the consumers or the target market. The brand still needs to stand for something that is meaningful and valuable for the customers. You are still required to stand for the brand and communicate with the consumers in order to make sales.
If there is one great effect that the digital age has had on branding, it is the easy and fast customer feedback that companies can now get. This is made possible through social media sites like Facebook. With this, consumers can provide instant feedback about the product by simply posting a status update or tweet. There is no longer a need for brand equity scans that take 6 to 12 months to complete. Aside from the social media sites, there are also other online tools like blogs where owners can listen in on customer conversations regarding the brand.
Another significant effect is that manufacturers or companies lose some amount of control over their brands. This is mainly because consumers can advertise the products by themselves without the manufacturers giving permission or having any knowledge. In the past, the relationship between the seller and the buyer stopped after the goods were paid for. Nowadays, consumers tend to become more promiscuous with brands. They advertise the brands they like through different online media outlets without the need for face to face contact with the manufacturers or sellers again. This engagement sometimes leads to allowing manufacturers function as retailers.
Consumers remain loyal to a brand that provides them with great value. The biggest change is perhaps in the contact points where they are open to influence and how companies can meet them at those points. This is what marketers should focus on in the digital age. They need to make adjustments to their strategies in order to meet the consumers in areas where they often spend their time. Companies that are able to recognize branding opportunities in the digital age and capitalize on them are always winners.
The Increasing Importance of Point of Purchase (POP) in the Digital Age
In the digital age, the point of purchase is becoming more crucial. A point-of-purchase is the place where a particular brand can potentially be sold. This is where consumers make important buying decisions. A POP lures shoppers to buy products at checkout. They do this with banner ads, coupons and video advertisements.
At present, many marketers find creating an attractive POP to be a smart move. It often leads consumers to impulsive buying. Some online marketers overlook its importance. They think that it will only work for brick and mortar shops. The truth is that POP is as effective in Internet marketing as it is in real shops. Companies can make an effective POP strategy possible by using keywords, online ad campaigns and social media sites. Additionally, they may have to create websites with the right design, support pages, credibility and authority.
POP is vital in increasing customer engagement with a specific brand. Experts say that consumers only spend about six seconds trying to find their favorite brands. After that, they tend to give up and settle for substitutes instead. POP is the best way to deal with this. However, marketers should make sure that their brands can create an emotional attachment with consumers before and after the point of purchase.