Branding in the Digital Economy

by Bill McCown - May 01, 2016

Faster than light...shared at the drop of a hat...decimated or hailed with the stroke of a key...welcome to branding in the digital economy. And digital marketing agencies, like The Idea People, are proactively pivoting with client branding projects to control spin, reputation and image while preserving vital sales channels.

So what keeps CEO's and CMO's up at night? It's the hourly health of their brand in the hands of a fickle and emotionally reactive customer base. "Watching brands rise, fall, succeed and fail from the sidelines is becoming somewhat of a spectator's sport with the velocity of the web," said Jay Joyce, president of The Idea People in Charlotte. "A brand's reputation can so quickly swing positive or negative with only one incident and most of the time the brand is not prepared to deal with either one."

 

The Modern Agency: Branding in the Digital Economy

When we think of really successful brands that thrive in the digital economy, we think of Facebook Apple, Microsoft, AT&T, Amazon and Google. What do these brands have in common that keep them dominant within the constant ebb and flow of consumer behavior?Digital marketing and modern agency The Idea People in Charlotte.

"Brand value is one of the largest indicators of a brand's overall health," said Joyce. "We're really at the threshold of a new normal in brand value, mostly due to the recent recession and the cautious behavior of all consumers. Brand reputation, responsiveness, value to the consumer and online behavior are all factors that affect a brand's overall value and health."

How Does a Modern Agency Help Build Brands?

"By constantly monitoring the behavior of brands and trends on the Internet and social media, we can more clearly see how people react to news and content that brands deliver to audiences," adds Joyce. "We use this as indicators on how to work with our client brands and help them to build stability, consistency and value in the eyes of their customers."

  1. You have to 'walk the walk' - "Be who you are," said Joyce. "Branding has to be transparent and withhold nothing from the ultimate customer." Any brand, large or small, needs to stand up for their positioning and marketplace offers. "Being consistent from front to back is key to sustaining brand value and overall health," says Joyce. "Be straightforward and carry through on what you promise your brand is to the end users."
  2. Keep inventing and evolving - "We have always seen branding as a never-ending process," says Joyce. "It's not just about a logo or a single promise." Brands that are innovative and present new ideas and options for customers are always winning. Look at Apple, Facebook and Cisco. These brands are constantly creating new opportunities to present their products. "Even here at The Idea People, we are always evolving our internal and external brand because the economy demands change and our clients expect us to show them where to go and how to get there."
  3. Take a stand and show you care - Every brand needs to stand for something. "Most of the time we encourage our brands to share how they can positively affect the lives of their employees, stakeholders and customers," said Joyce. "These are the human characteristics of a brand like supporting community organizations, training employees to improve their careers or sharing knowledge with clients and their team members." This gives your brand depth and a human touchpoint that people can relate to and instantly "feel" when they think about or talk about your brand.

"Branding in the digital economy is an everyday responsibility that we accept and manage for our clients," said Joyce. "The incredible speed of the Internet and social media postings can damage or bolster the overall health of a brand. So we monitor, adjust, protect, bolster and respond to our brand's customers through our digital marketing and branding support."

To learn more about building your brand in the digital economy, contact The Idea People at 704-398-4437 or email ideas@theideapeople.com.

Bill McCown
The Idea PeopleThe Idea People