What is Social Media & Digital Branding ?
The most common understanding of how digital platforms are transforming consumer behavior is the increased use of online shopping. But the impact of digitization goes way beyond that: it impacts the full buying process and how companies should view and deploy their brand. There are a host lot of new channels for interactions not only between consumer and brand but also between consumers and consumers.
What is
Social Media &
Digital Branding ?
The most common understanding of how digital platforms are transforming consumer behavior is the increased use of online shopping. But the impact of digitization goes way beyond that: it impacts the full buying process and how companies should view and deploy their brand. There are a host lot of new channels for interactions not only between consumer and brand but also between consumers and consumers.
Social Media & Digital Branding
There is no scarcity of information available on the internet and Consumers are now using Google and other search engines to research about a brand and product, are using Social media to get reviews from other consumers and are posting their reviews and complains about the internet. Brands are also using digital and social media effectively to build a brand community, track brand progress and are also gaining from new points of sales. Brands can promote the voice of their brand advocates more effectively and can better understand consumer preferences likes and dislikes.
There is no scarcity of information available on the internet and Consumers are now using Google and other search engines to research about a brand and product, are using Social media to get reviews from other consumers and are posting their reviews and complains about the internet. Brands are also using digital and social media effectively to build a brand community, track brand progress and are also gaining from new points of sales. Brands can promote the voice of their brand advocates more effectively and can better understand consumer preferences likes and dislikes.
Opportunities in Digital & Social Media Era
Due to the incoming of digital media, the opportunities have grown manifold for the brands so much so that there are certain companies that could not have been established had the digital era not come into the picture. One such company is Amazon. The E-Commerce world could not have been leveraged had digital era or technology not been introduced. One of the main opportunities for branding in the digital era is the ability to reach customers in a more customized fashion. The reach of the brands has increased with the presence of digital media. Platforms like Facebook and WhatsApp have made branding and marketing easier and market penetration has increased. Secondly, social media has invented the concept of earned and shared media – while earlier brands used to write content in the form of owned and paid media, now their existing (and satisfied) customers are their strongest advocates because potential customers get influenced by them more than any brochure or website. Reviews play an important role in today’s world. Another opportunity is that consumers play an equal role in co-creating the brand with the firms. The opinions and insights of the customers are extremely important and therefore, brands are spending millions to understand customer insights and gain knowledge of the need gaps they could fill.
Due to the incoming of digital media, the opportunities have grown manifold for the brands so much so that there are certain companies that could not have been established had the digital era not come into the picture. One such company is Amazon. The E-Commerce world could not have been leveraged had digital era or technology not been introduced. One of the main opportunities for branding in the digital era is the ability to reach customers in a more customized fashion. The reach of the brands has increased with the presence of digital media. Platforms like Facebook and WhatsApp have made branding and marketing easier and market penetration has increased. Secondly, social media has invented the concept of earned and shared media – while earlier brands used to write content in the form of owned and paid media, now their existing (and satisfied) customers are their strongest advocates because potential customers get influenced by them more than any brochure or website. Reviews play an important role in today’s world. Another opportunity is that consumers play an equal role in co-creating the brand with the firms. The opinions and insights of the customers are extremely important and therefore, brands are spending millions to understand customer insights and gain knowledge of the need gaps they could fill.