Branding refers to creating an unique identity for your offering and recognition for your company. Branding was a word typically used by professional marketers, but now it is a commonly used buzzword not restricted to only large conglomerates.
Brand basically delivers perception. It is the identification of a company and it’s offerings. Marketing techniques used to build brands can be classified as traditional and modern or digital.
The traditional brand building exercise involves:
• Billboard advertising along roads and highways
• Magazine ads
• Phone calls
Traditional methods were replaced by digital marketing mediums such as, the advertisements in the newspapers or magazines are today replaced by ads on social networking sites and e-newspapers and e-magazines.
Radio ad are hardly visible now-a-days as the number of people listening to radio itself has gone done considerably. While targeting the age group of 18 – 35 years, the preferred media is YouTube or Facebook video ads instead of traditional TV ads.
Digital mediums are more popular, and marketers are developing their marketing and branding strategies around the digital mediums.
Digital methods include:
• Business networking sites such as LinkedIn
• Social media sites such as Facebook, Instagram and Twitter
• Google Ads
• Email marketing
• Paid pop-up ads
• Click baiting URLs for viral content marketing
Digital methods have certain benefits such as
1. They are cost effective from the point of view of businesses
2. They allow to interact with the customers.
3. They can reach a wide customer base in less or almost no time.
4. The message to be communicated through each medium can be customized.
5. Tracking the activities of the customer is possible.
6. Lack of space in the medium selected or issues related to frequency are not a botheration for the businesses anymore.
7. Quicker publicity is possible due to reach and frequency of the communication.
Thus, with the boom of internet, the traditional marketing is replaced by digital marketing.
But what marketers need to remember is that traditional marketing, even today, has it own merits, for example a personal call by the company creates a positive image about the company rather than an online survey which may or may not be answered and if answered may not be fully answered or bias free answered.
There are some traditional methods that yield high return on investment when reaching local audience, but the benefits of digital marketing outnumber the benefits of traditional marketing.
Thus, Branding is a technique for developing and sustaining a competitive lead. In the clamorous world of digital media, to remain competitive is more of an everyday challenge. A definite digital brand is therefore crucial to differentiate your products or services from others.