So far, I've said a lot about brands, how they find their audiences,
how they engage with customers, and how they build loyalty and boost sales.
But what exactly is a brand?
And how does it relate to digital marketing and e-commerce?
In this video, we'll explore why understanding brands is so important for
digital marketing.
A brand is how a business or organization is perceived by the public.
There are a lot of factors that can influence a brand, like values,
culture, design elements, and tone of voice.
And companies can do things to build their brands.
But a brand isn't a physical asset, like a product or service.
Products and services are the things that a business sells, like clothing,
software, or entertainment.
A brand is more like a personality or a reputation.
It's the sum of who you are and what people think about you and your products.
So why is it important to know about brands and their value?
Because a company's brand guides all of their marketing and sales efforts.
Before they can even start thinking about ads or promotion,
companies need to understand their mission, values, and unique offerings.
Marketing efforts can, and should, change with the times.
But a brand identity is permanent.
Think of it this way.
If a brand is who you are, marketing is how you get people's attention.
So a company can pour tons of resources into a digital marketing strategy,
but without a strong brand identity, no one's going to remember who they are.
Likewise, they can have great values and amazing products,
but they still need marketing to build brand recognition and drive sales.
A brand is the foundation of a successful digital marketing strategy,
but digital marketing can also affect public perception of your brand.
You can't have one without the other.
A strong brand can be incredibly valuable, and
digital marketing can make it even stronger.
For example,
digital marketing campaigns can help increase value through brand equity.
What is brand equity?
It's the value consumers attribute to one brand's offering
when compared with similar products from another brand.
When a brand has positive equity, it means consumers feel good about the brand
and might pay more for it than an identical product from another company.
For example, let's say we have two bottles of sunscreen with identical ingredients—
one from a known and trusted brand, and the other from a lesser known brand.
Brand equity is how much more customers are willing to pay for the brand they know
and trust than the other one, even though they have the same ingredients.
The trust people have in the familiar brand adds to its overall value.
Digital marketing is one of the ways businesses build that trust.
When they run an ad campaign, those ads don't just get consumers to take notice.
They can also help shape public perception of the brand.
Digital marketing can communicate a brand's values, personality, and
perspective, which can influence how people think of them.
All right, time to review.
A brand is more than just another word for a business.
It's how customers think and feel about a company and its products.
It's also the foundation for successful marketing and sales strategies.
Digital marketing, in turn, can help build brand equity, recognition, and trust.
Moving forward, we will begin to explore how brands create digital marketing
strategies that support their larger goals.