In business, delivering customer value is more important than ever before. And marketers are responding by embracing digital media and channels to enhance customer experience by focusing on Big Data and its ability to drive value. Customer-centric analytics enables brands to keep focused on the customer and keep them at the center of the business strategy. The ability to collect, analyze, and act on available data is essential to a business’ success, which helps personalize and improve customer experiences. Because all customers are different, Customer Lifetime Value helps predict future purchases of each individual customer based on past transactions and behaviors. The most successful brands focus on the target market experience.
Using visuals to communicate your message to consumers can have a massive impact on your content marketing and social media campaign success. Visual content marketing is increasingly becoming one of the most popular trends in the industry. Using visuals helps grow more traffic, clicks, and conversions. They help grab the user’s attention and make it easier and faster for them to process information. In addition, images help personalize and make your brand more memorable and help create more engagement. In fact, posts that include images receive 120-180% more engagement from fans than text-based posts. Types of visuals you can include in your content are: images, videos, infographics, presentations, virtual tours, and so much more.
Brand measurement provides a snapshot of your brand’s position relative to your competition’s. It highlights your brand’s strengths, opportunities, and need for improvement. When conducted consistently over time, brand measurement serves as a tool for evaluating changes in brand image and diagnosing category trends. Why measure? The overall goal for is to provide an ongoing view of your brand’s health and competitive strength to better inform decisions for driving business and brand value growth. How do you measure? You can achieve brand measuring by performing surveys, analyzing your website traffic, looking at your search volume data, and using effective social listening. Brand awareness is the basis on which you build a successful marketing strategy. Increasing the number of consumers that are able to recall your brand is the key.
Co-branding, which is also known as “brand partnership,” is when two or more brands collaborate and advertise together with a goal to market and sell a new product or service. When it comes to your brand’s marketing strategy, it is essential to highlight your unique selling points to increase lead generation. The key to successful collaboration is to choose another brand that will complement or enhance your products and services. Here are a few quick advantages of co-branding in today’s market place:
1. Decreases the costs for both brands and reach a larger audience.
2. Increases market size.
3. Improve both brand’s reputation.
4. Fans of your brand will feel an increase in value.
5. Establishes credibility and extends market reach.
Do you know the difference between brand image and brand identity? The terms are commonly juxtaposed; however, they are different. While brand identity is how the brand owner defines his brand, brand image determines how the consumer perceives the brand
Brand Identity: It is the company’s face, which reflects the values, personality, and ideas of the company. It comprises of features, attributes, quality, performance, services and support facilities that it possesses.
Brand Image: It encompasses the collection of beliefs, ideas, and impression held by the customers about the brand. It explains the way customer think of a brand and the feeling it portrays when the consumer hears its name.
So many factors are combined to create a brand image – some of which you have no control over. This increases the importance of the elements within your control, the strategies you make regarding your brand, and your marketing efforts.
It’s essential that you keep track of your marketing efforts, so you know exactly where to spend your marketing dollars. Having a positive ROI is the goal of every digital marketing campaign. So, how can you find out if your digital marketing efforts are successful?
Here are five ways to track the success of your marketing campaigns:
1. Website Analytics: Online Sales from your website may be the simplest method conversion for evaluating your progress. You can easily track your online sales by using Google Analytics or another Web Analytics platform.
2. Phone Tracking: Tracking calls is an effective way to make use of your lead generation sources. By taking advantage of call tracking technology, you can figure out which marketing tactics are generating the highest number of phone calls.
3. Website Visits: Checking your website visits can tell you which of your digital marketing campaigns are getting the most views and visitors to your website. This is especially helpful when tracking traffic trends over a period of time.
4. CRM Tracking: These databases are useful when it comes to staying organized and tracking results. They can help you create customer profiles which include their name, company, phone number, lead source, etc.
5. Bounce Rates: Discovering bounce rates on your campaigns will let you know if there is a disconnection between your customers and your marketing strategies. Google Analytics will help you measure your bounce rates so you can spot trends in each of your campaigns.
How can you tell if your business is prospering? Customer Lifetime Value can benchmark your future growth and let you know how your brand is resonating with your audience. It will tell you what you’re doing right, what you may be doing wrong, and what you can improve. CLV helps predict the future revenue for your company and demonstrates the significance of repeat customers, so you can shift your priorities appropriately. It can tell you who will invest time, energy, and money in your products or services for years to come. Calculating the CLV is made up of three components: Average order value, purchase frequency, and customer lifetime length. CLV is essential to grow your business’ long-term success.
Brand equity describes a brand’s value. It refers to the additional value that a customer attaches with the brand that is unique from the rest of the brands in the market. Brand equity is challenging to estimate because it relies on the customers’ beliefs. A company needs to successfully develop brand equity in a customer’s mind before it becomes effective.
On the other hand, brand value is the financial worth of the brand, and it’s easier for a company to estimate. A company can determine the market value of the brand by asking other companies how much they would be willing to pay to purchase the brand. A brand may have a positive value yet still, lack brand equity.
The Digital Branding Analytics Miami 2019 Conference may be one of the best Digital Marketing conferences I have attended so far. All seven speakers were knowledgeable, professional, and engaging. A speaker that I was particularly impressed by was Joni Fernandez, who spoke about becoming a master leader. She explains that you need more than just hard work and determination to be successful; you also need gumption and fearlessness. This lesson applies to personal branding because it reminds us that we must be willing to accept failure and learn from it to become who we are. Failure is the greatest teacher, and as long as you learn from your mistakes, you will grow in both your career and personal life.
The Digital Branding Analytics Miami 2019 Conference may be one of the best Digital Marketing conferences I have attended so far. All seven speakers were knowledgeable, professional, and engaging. In my opinion, Britney Muller’s backstory and message were the most thought-provoking and relevant to our everyday lives. We learned about Imposter Syndrome, which is a psychological pattern in which a person doubts his or her accomplishments. I found this interesting because this is something I believe most of us have dealt with before. We all have that voice in our head that says we’re not good enough or that we can’t do something, which keeps us from being great and working to our full potential. Her speech was a great reminder that we need to eliminate negative thoughts and overcome any fear that we may have within our lives. This was especially valuable going through the MSM program where we are taking ourselves out of our comfort zones and striving for more within our careers.