Brand establishment involves four key points::
- Building a digital brand story
- Creativity in digital media and marketing.
- Digital channels and content distributed to channels based on consumer data and habits
- Creating digital relationships
Methods And Metrics
1.There has been a prolonged chaos for information available about companies and consumers for ages. This increased limitations as access to information, geographical separation and interaction between customers. But now the existence of internet and websites which collect data and present us with comprehensive information, has facilitated more interaction between brands and customers
2.The companies now have a powerful means to showcase the brand identity and value in innovative and efficient forms. The digitalization has provided the brands to come up with novel ways of customer engagement and manage the consistency of their brand empowerment. It has heightened the connectivity between brands and customers that was lacking earlier.
4.Another impact on branding practices is the emergence of value co-creation as an alternative way to long term customer relationships, customer loyalty and eventual profitability. Here, the joint effort is formed between the companies and customers during the various stages of the product. It stregths the bond and builds loyalty and customer engagement. Coca-Cola is a great example of successful value co-creation.
5.Alongside engaging with the customers, there is increasing and active collaboration between the companies and their business intermediaries. This leads to collaborative and healthy promotion, innovative re-designing and a sense of co-existence among competitors in the market. One example of this is how Coca-cola collaborated with Heinz to develop more sustainable containers.