What is Digital Branding Strategy?
There are many factors to consider when determining a digital branding strategy, from the Value co-creation process to the Owned, Earned, and Paid media framework. But, perhaps the most important consideration is the user experience. How do you make your website intuitive and user-centric? In this article, we’ll look at some key elements that will help you determine the best digital branding strategy for your business.
The idea of value co-creation as part of a digital branding strategy isn’t new, but the concept is a little ambiguous. The logic of co-creation relies on granting consumers free rein to work with a company’s resources and then enabling those consumers to generate their own value offerings. This concept inverts the long-standing marketing orthodoxy that the firm is the sole arbiter of value. By embracing this shift in the locus of value creation, savvy companies can harness and manage the freedoms of consumers to be productive. Value co-creation echoes concepts from Foucault’s theory of government, labor theories, and the role of the state in creating value.
Another example of a successful co-creation effort is Phononic, a company that develops heating and cooling technologies. Their engineers collaborate with consumers to develop new products. The results can be incredibly valuable since the resulting product will be more useful to consumers. And, most importantly, it will increase brand loyalty. For more information on value co-creation as part of a digital branding strategy, check out Medium.
Value co-creation as part of a digital branding strategy can occur at any stage of product development. Initially, it was known as co-production and primarily applied to leading brands. Today, however, it has evolved into a broader concept. This new approach can involve consumers at all stages of product development. Ultimately, co-creation helps to increase brand loyalty and boost sales. With a little research and a few experiments, it can be the most effective digital branding strategy.
Incorporate co-creation as part of your digital branding strategy. As the name suggests, co-creation is a method of bringing customers into a digital branding project. The process involves two steps: first, the firm solicits customer ideas and second, the firm evaluates the ideas for quality and relevance. It’s important to keep in mind that, while some ideas may prove to be valuable, others can damage the company’s brand image.
Value co-creation is a process that occurs when employees rethink the needs of consumers. Customers can be internal or external. People in teams create value by redefining customer interactions. They share their artifacts and evolve rapidly. The teams often steal ideas from one another and incorporate these into the reworked value proposition. This process allows companies to focus on their customers rather than on themselves.
Owned, earned, and paid media framework
Developing a comprehensive digital branding strategy requires considering paid, owned, and earned media. While it seems straightforward, the paid, owned, and earned media framework is more complex than it appears. While a business can use all three forms of media, some businesses choose only one or a combination. In the case of content marketing, the goal is to create valuable, engaging content for audiences, and then use paid and owned media to distribute it.
Owned media, on the other hand, is content that you create. Content published about your brand by other people, such as blogs, websites, and social media is earned media. Paid media is content you pay for, such as online video advertisements and magazine advertorials. Paid media is important for your brand’s overall success, but it’s still not enough to generate a significant amount of traffic.
The third type of media, shared media, is uncontrolled by any single entity and is used to promote an organization’s product, brand, or service. Shared media, on the other hand, is created by multiple owners and circulates across many different social platforms. The latter may include all forms of social media. For example, Facebook has changed its terms of service without warning, and the company may have to pay for the posts of its followers.
A good digital marketing plan should start with determining the cost value of audiences. Different audiences cost different amounts of money to acquire, and they generate different levels of value for the brand. Understanding the cost of each audience will help you determine which marketing tactics will yield the most benefits. Once you know which audiences generate the highest value for your business, you can choose the right types of audience journeys and use paid, earned, and leased media to reach those audiences.
Owned media means that a brand controls the content it shares with the public. This includes company-owned websites, blogs, podcasts, exclusive e-commerce platforms, and social media accounts. In the past, brand-owned content was viewed as an untapped marketing channel, but the advent of social media changed this. Now, customers and prospects have become their own media brands. Therefore, owning and controlling this media is essential for a brand’s digital branding strategy.
Personality, mission, vision, and voice
Your brand’s voice and personality are integral parts of your overall brand identity. A strong brand personality gives consumers a clear picture of your company’s identity and offering. To critically construct your brand’s personality, you must consider your brand’s visual assets. To provide an example, Coca-Cola has a well-defined brand personality. Moreover, you should take note of your customers’ preferences.
Jenifer Aaker, a behavioral scientist and General Atlantic Professor at the Stanford Graduate School of Business, developed a framework based on the physiological outline of personality. Marketers around the world use this framework to create emotional connections with customers. These factors help brands develop human characteristics and build emotional bonds with customers. These factors can be applied to any brand. For instance, a brand that caters to the needs of the affluent can create a strong brand identity by focusing on the needs of this demographic.
Creating a user-centric experience
In a world where customer expectations are rising and new products are being developed from unexpected sources, creating a user-centric experience is crucial. Developing a good user experience is critical to converting visitors to customers and becoming a successful brand. The key to creating a great user experience is to identify the user’s intent, and then develop the content, services, and tools necessary to meet those needs.
Designing the product with the user in mind can help improve usability, accessibility, and even sales. By integrating user-centric principles throughout the product, you can create a more effective customer experience and reduce customer service costs. And what’s more, using user-centric design can be applied to other areas of the product experience, such as customer support and technical support. Here are some of the benefits of adopting a user-centric approach to your digital branding strategy:
The process of designing a product with the user in mind involves collaborative efforts from multiple teams. The goal is to minimize the cognitive load of the user. The more effort a user has to put into a product, the more likely they’re to become frustrated. Usability aims to lighten the mental load for the user by making the product as easy to use as possible. One of the most important ingredients of a user-centric design process is the ability to collect feedback from real users. A business team should develop mechanisms to gather feedback and make changes accordingly.
User-centric design can increase a brand’s chances of being ranked high in search engines. By incorporating a user-centric approach, a brand can prove its worth and establish itself as an industry leader. Research conducted by Bain & Co. reveals that while 80 percent of brands claim to offer an improved experience, only 8 percent actually provide one. While this is a huge improvement in customer satisfaction, it requires a massive organizational shift.
A customer-centric approach to a brand’s digital strategy means incorporating a customer-centric mindset into all areas of the company’s operations. Customer-centricity means putting your customers first in everything you do, whether it’s developing a website, or improving the quality of service within the company. Taking the time to understand your audience and the people who interact with it is critical to ensuring the company’s success.