The recent implementation of the heightened COVID-19 restrictions has invoked in many of us the uncanny feeling of deja-vu. As we approach the end of the month of May, what are some of the key branding insights that you need to know, especially in this time of turmoil and uncertainty?
Digital branding is about understanding your business’ value proposition and communicating these values to your customers. According to the Digital 2021 report published by DataReportal, 4.66 billion people around the world use the Internet and the global internet penetration now stands at 59.5 percent. It is therefore essential for businesses to establish a strong digital branding which would allow them to tap into the wealth of opportunities available in today’s digital age. The team at VK Transformation has witnessed a surge in customer queries on digital branding and marketing, ranging from healthcare to interior design companies.
BRAND INSIGHT 1: BRAND AUDIT
Inward Looking Brand Audit
According to Gallup’s meta-analysis, companies with highly engaged workforce are 21% more profitable. Often overlooked by companies, inward looking brand audit is necessary to boost employee morale, satisfaction and loyalty to the company. This would involve understanding your employees’ perception of the company’s mission and culture. The key is to Listen, Empathise and Co-Create.
Outward Looking Brand Audit
Outward looking brand audit entails a deep understanding of your customers’ perception and the journey they are taking to interact with your brand. Digital transformation has culminated in a more complex customer buying journey and they are most likely present on multiple digital channels. By conducting social media audit, website audit or analysing emerging trends, you can have a better understanding of your customers’ demographics, interests and intents, thereby allowing you to discover and capitalise on newfound opportunities. Through the insights gathered from the use of web analytics, we have managed to optimise one of our client’s marketing campaigns by determining the top conversion path and customising their messaging to address the pain points of their target audience at the right touch points along the complex customer journey. It is integral for businesses to utilise data-driven marketing in order to develop fewer but more impactful marketing messages, thus providing a more customised consumer experience, shortening sales cycles and increasing conversions.
BRAND INSIGHT 2: DIGITAL BRANDING IS IMPERATIVE POST-COVID-19
45% of consumers have changed brand preferences during the pandemic
Disruptions caused by the COVID-19 pandemic had almost every business pivoting out of traditional sales models and everyone was scrambling to find new ways to win the moment that matters. Many businesses are struggling to stand out from the crowd as such there is a need for companies to address these shifts by adjusting their messaging to connect in meaningful ways. Rebranding in the post-pandemic can help to:
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Reach Out To The Right Audience driving an increase of at least 30% in sales (source: VK Transformation)
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Increase Brand Awareness which can help significantly with brand recall
In today’s age of digital transformation, it is never too early to begin your branding transformation journey. During the pandemic, we had first hand experience helping businesses from Cybersecurity, HR Professional, Snack Provider, Real Estate industries accelerate their brand and marketing transformation. The top success factors for a digital brand strategy involve designing an overarching brand identity with your employees and clients; redefining your compelling brand value proposition and identifying strong communication touchpoints for outreach.
BRAND INSIGHT 3: MEASURING BRAND AWARENESS
Brand awareness increases click-through and conversion rates in online advertising by as much as three times
In this era of digitalisation, it has become even more important for businesses to increase brand awareness as this would enable them to stand out from the clutter and intense competition. Moreover, as brand awareness typically signals the health of a business, it is vital to track this metric in order to determine the efficacy of your marketing efforts. Want to learn more about how you can effectively measure brand awareness? Read our full blog here.
ACCELERATE YOUR DIGITAL BRAND WITH VK TRANSFORMATION'S EDG STRATEGIC BRAND AND MARKETING DEVELOPMENT
So, how can you apply the branding insights that we have shared to develop an agile branding strategy for your business? Here at VK Transformation, we are passionate about helping businesses like yours accelerate their digital brand, marketing and sales through our EDG Strategic Brand and Marketing Development solution. With an EDG Grant of up to 80% for SMEs and up to 60% for non-SMEs, you can look forward to embarking on your digital and business transformation journey.
FOR MORE DETAILS CONTACT OUR TEAM
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Vivien Koh
Founder and Managing Director
Practicing Management Consultant
Cheryl Chia
Performance Marketing Analyst
Sammi Chan
Digital Marketing Consultant
Priya Trigunayat
Digital Content Marketing Consultant
For more information reach out to us on our website and feel free to share our newsletter.