Branding in a Digital World
Understanding a business brand is making a comeback, after the halcyon days of the 80s (think Coca Cola, XXXX beer, and McDonalds) as the consumer who is now digitally wired places a greater value on the brand.
In 2018, professional services firm, Deloitte sought to answer the question of brand in the digital age and found that less than one in five marketers thought of brand as the top objective of a business.
According to Brand Finance Australia the top 100 brands in Australia were worth a total of $143 billion in 2017. This is almost half (45%) the value of the intangible assets of the 1,000 largest companies in 2016 (Deloitte analysis based on IBISWorld 2017).
Simply put the effort of branding in a digital settings is both critical as well as being cash flow positive.
Interestingly, two-thirds of marketing managers according to Deloitte believe social media and digital is the best way to build a brand.
However, the first reaction of engaging an agency, is the prospect of thousands of dollars to a 'tech guru' to provide advice on Internet engagement which improves where the business appears on a Google search and what will that yield for a small business.
The truth is that a 'tech guru' and advice, are not thousands of dollars and nor is engaging or finding about the right digital resources.
Getting a good Google ranking coupled with positive reviews for your business can be straight forward. Australian Digital Treasury Group has a list of free resources that allow you to achieve that objective.
Engaging with customers online doesn't have to be an ad-hoc exercise done on the weekends. In fact done well it can be a major sales booster as the 21st century consumer is more likely to 'talk up' that great experience on social media.
Brisbane based marking firm, Blackbox Marketing and Advertising, can provide a communications plans that will set up a small business on growth trajectory for a modest fee.
Customer engagement, a well designed website and active social media can not only develop a good brand but enhance the proverbial bottom line with little effort.