The Internet has become the best tool for choosing the products and services that most consumers require. According to wearesocial.com, 86% of internet users have searched the internet for products and services to buy, and 81% of them have made online purchases. These statistics highlight the importance of brand building in the digital space. Likewise, the importance of traditional marketing cannot be denied. The exponential growth of digital marketing cannot be ignored either. Business owners should benefit from this fact.
Given the importance of digital marketing, companies can improve the visibility and reach of their business brand. The Internet provides global reach. With the right approach, your brand will reach a wider audience. Many online platforms like Instagram and Twitter are free and companies should definitely take advantage of this.
What is digital marketing?
Digital marketing is a common expression in modern times. It is possible that this term is used carelessly, without much thought or understanding. However, as an entrepreneur in the digital age, it's worth learning more about the importance of digital marketing. Digital marketing arises from the concept of direct marketing. In general, marketing is the process of a company communicating with its target audience to sell or promote a product.
Before the world went digital, marketing was done through brochures, posters, TV commercials and phone calls. However, as most people switch to personal devices to meet their needs, it has become essential for marketers to adopt new strategies. This shift has enabled digital marketing to reach the forefront of marketing and branding.
With digital marketing, companies' efforts are aimed at reaching personal devices for personal consumption. Ads and promotions must get interactions from an identified market. Before that, companies had posters printed and displayed on highways and building facades for all to see. People see ads based on their profiles and preferences.
Importance of digital marketing in building brands
Branding is not a new concept, it has existed since the beginning of production. The products are packaged, have certain stamps and labels, this is called a brand. In essence, the brand has been a way for business owners to label a product so that it becomes easily recognizable.
Although the brand has evolved over time, it has evolved into a very complex concept. Suddenly it affected the tone of the communication materials, the design aesthetics, the website interface, and more. It has become more than just a seal and seal. Branding is now an overarching concept for everything communicated to your audience.
Because digital marketing is central to marketing efforts, it has a significant impact on branding completeness. However, It is through digital marketing that companies can communicate their branding efforts. This is the main platform for showcasing your brand. Digital marketing has become an essential communication tool, whether it's viral content creation or a carefully curated Instagram feed.
How do we separate a strong brand from a weak one?
Let's start with a general definition and from there move to a deeper territory. A strong brand is a brand that stands out in the minds of its customers, both current and potential. Have you ever wondered what that means?
They also know their competitors very well. They have a clear understanding of how their presence affects the landscape of their industry. An important contribution to the strength of a brand is that its vision, mission and values are well communicated and understood within the business.
Why is the brand important?
Branding has a lot to do with positively enhancing your company's image in the target market. The goal is for your audience to never forget you and consider you when they need the service you provide.
Brand value is the added value of a product or service. As such, a pair of Ferragamo shoes or a limited edition Air Jordans outperforms lesser known brands. They are all shoes. However, a well-known and positive brand image automatically increases value.
The advantages of building a brand using online marketing:
1. Visibility, recognition and coverage
Because the Internet has global coverage, your brand will be seen by a wider audience than your sales team or physical store can reach daily or weekly. With more people accessing your brand, the recognition of your products or services will be greater than if you used traditional ways to increase your brand awareness.
Every time a brand is seen it is directly related to brand recognition. Being present in several digital channels leads to greater brand recognition.
The higher your brand awareness, the more likely you are to be the brand of choice for your prospectus. Ultimately, all branding strategies aim to create a prestigious brand.
2. Encourage your contacts throughout the entire journey of customers, from the awareness phase to becoming brand ambassadors
Customers are more likely to choose brands they recognize. The presence of your brands in the digital space allows you to feed your potential consumers from being in the brand awareness phase to entering the examination phase, howhere they become more educated about your products and services.
Once they have decided to choose your product or service over your competitors, they become consumers. And if you check all the boxes to throw them away at every stage (awareness, consideration, and decision phases), your consumers will most likely become brand ambassadors.
When analyzing customer journeys, marketing departments consider many elements of digital marketing. Digital marketing plans include elements of email marketing, social media, mobile marketing, inbound marketing, content marketing, and search engine optimization (SEO).
3. Credibility and trust
A trusted brand is one that is easy to recognize, has been around for a long time, has a loyal customer base and keeps its promises.
When a company is seen as a recognized and well-regarded brand, the company's credibility grows both in its sector and among its customers. As credibility and trust increase, so does loyalty and community. The goal is that as word of mouth marketing increases, so does the ease of purchase. In the digital space, this means an increase in web traffic, conversion rates, involvement in blogs and social networks and also potentially higher average interest rates.
4. Build a community
Although community building is traditionally seen as the role of social media marketers, it can be argued that community building is everyone's job.
The first reason is simple. The nature of the task requires contributions and involvement from several people, and who better to be brand ambassadors than your team. The second reason is that the benefits obtained from focusing on community building are enormous. Having brand ambassadors, brand champions and a loyal brand community makes introducing new products and services not only easier, but also less expensive. You will also work less on building brand awareness.
5. Increase brand equity
The brand value refers to the commercial value obtained from how consumers think and feel about a brand, and how a brand commands its market share and profit in its sector. Having a higher brand value means that your company will have a reduction in paid advertising costs associated with gaining traffic or recognition.
The greater value of the brand is linked to greater market share, as consumers prefer stronger brands over their competitors. And, for this reason, there is an opportunity to move towards a premium pricing structure.
Strong brands have less need to actively recruit, as people are naturally interested in working for reputable brands. Of course, this means that stronger brands have less need to spend on HR and recruitment-related activities.