Branding is an integral part of Marketing process. For ages companies and businesses have tried creating a unique identification for their product or services (Brand- Name, Logo, symbol etc.). Traditionally various techniques and tools have been used by marketers to build their brand, which are still being used but with the use of Internet across the globe, the process of brand building have shifted from traditional medium to Online channels.
In this blog lets see, why it is mandatory now for firms to start building their brands online and how Online brand Building scores over traditional way of branding.
1. Global reach without any geographical or time limit: Traditional branding method like using print ads, Outdoor advertising, exhibitions, etc were targeted towards local audience mostly, in fact the reach was limited and also the time of execution. But with Online Branding techniques, neither the reach is limited to local audience nor the time of execution. Branding Online can reach across globe and can be executed 24/7 according to the customers suitable time to see the promotional ads and to build brand.
2. Low Entry Cost: A Facebook campaign can run as low as 40 INR/day, which means that with a minimum monthly budget of 1200 INR a business can promote its brand, increase page likes, increase website traffic or promote an event, which is a rather expensive affair even done on traditional promotional channels. Thus entering online for branding purpose is not very costly, later the budget can be increased according to the firm's requirement.
3. Helps build and gain trust of customers: Online branding is easier and convenient way to build customer base. A facebook page can have thousand followers for your business, who can all be reached by daily post. Individual response can be given which can be seen by others, this builds trust among your followers. Similarly subscribers of your youTube Channel can see your product or service related videos and can get confident about your offerings. Testimonial videos are very important way to gain customer trust online now.
4. Get Instant Customer response:The best part of Online Branding is that it is Real Time in terms of data collection and customers feedback. Response from customers can be taken instantly online by filling up surveys, checking comments on posts or creating poll. Whatever the technique may be, but the feasibility to be with the customer online 24/7 has given firms the facility to get instant customer response.
5. Build Lead For Business Easily: In marketing, lead generation is the initiation of consumer interest or enquiry into products or services of a business. Leads can be created for purposes such as list building, e-newsletter list acquisition or for sales leads. As discussed above how online branding technique helps to get instant customer response, similarly online branding also help to generate leads by various ways like, signing in newsletter, survey form or generate Facebook Lead. Building leads definitely helps in conversion.
6. Highly suitable for targeted marketing with real time results: Online branding gives real time result, you start getting insight as soon as you run a campaign on Social Media or Search Engine. This is one of the best features of online branding and thus better than traditional way of branding. Online Branding also is suitable for targeted marketing practice where customer base is chosen strategically and is defined according to company objective and product offerings unlike to mass marketing were segregation of customer base is not done.
7. Convenience of adopting online technique: Online techniques are easy to learn they are one time investment. Teaching them to your IT and Marketing Team or hiring Professional with such skills in your team can help you in long run. There are many institute providing such trainings on Online Marketing. Click Here To know more.
8. Its highly cost as well as time effective: Online Branding is both cost as well as time effective. It gives better ROI. Understanding what is ROI is very necessary. According to Investopedia, "Return on Investment (ROI) is a performance measure, used to evaluate the efficiency of an investment or compare the efficiency of a number of different investments. To calculate ROI, the benefit (or return) of an investment is divided by the cost of the investment. The result is expressed as a percentage or a ratio." Online Branding thus is more efficient in terms of its investment unlike to traditional branding practices. Online Branding is also time effective and can be managed from anywhere, anytime.
Thus we see how Online Branding can help your Business grow in 2018. If you are still deciding to be the part of this industry, trying to figure out if you should go Online, Then this is the right time, when without losing any more time, you should dive in the ocean of Internet or Online marketing and gather the precious jewels from the ocean.