Brands these days are promoted in several digital channels to create a relationship with the customers, owing to the rapid evolution of Internet. Marketers have understood the scope of marketing through various digital means because of the increased use of digital devices by the potential customers.
Is digital branding different from digital marketing?
Yes, these are two different terms that are more commonly mistaken as synonyms. Digital Marketing is the set tools used to promote your business online. This includes SEO, social media, PPC, local search, mobile, and traditional promotional methods and tools. Branding is the way by which the culture, character and message of your business are established and spread out to your audience. As a result of this, your business will create an impression on your audience. Branding done by digital means on digital media platforms to the right target audience is called Digital branding.
More on Digital Branding
Branding is the process of making your customers come to you by attracting them. Some of the most successful companies like Apple and Google have had made it this far only because they have established their brands so effectively among their target audiences. Some businesses do not even have a brick and mortar store; they exist only on the digital medium. Take the examples of many apps, E-commerce websites. They all have done good digital branding for themselves because of which the customers trust them. Branding is about being adaptable. You need to adapt your brand to the ever-changing preferences and lifestyle of customers or audience. Digital branding requires a high level of creativity to keep the audience engaged and interactive with your online business. Any action that you do to interact with customers for promoting or developing your business is part of establishing your brand. Branding is the overall strategy that shapes your entire business. It acts as the driving force for your business. Digital is the tool that is used for effective branding.
Digital branding is defining the image of your business to the customers and creating an emotional connect with them online. If you communicate your brand successfully, it creates some expectations in the minds of customers. Even before the purchase is made, your customers can have a good opinion or a positive feeling about your brand.
Some of the things that you need to keep in mind are
- The brand needs to interact with the relevant customers in the right approach. It should be impactful to every single customer.
- You need to win the trust of your customers in the digital medium. This can be done by talking about the experiences you’ve had in the process of establishing your brand.
- Customers these days are highly informed about the products or services offered. You need to present your brand genuinely as well as creatively so that it interests your target audience.
- If the customers are satisfied with your digital branding, your brand will become memorable among the masses.
Thus, digital branding is more challenging than ever before because retaining the loyal customers is very critical. When there are already many companies that are doing Digital branding the right way, it is possible for you to do great Digital Branding as well! Take your online business to a whole new level by doing impactful digital branding.
DID YOU KNOW?
Audiences Are More Attracted to Movement on Signs2 A study conducted by Intel demonstrated that animated digital content consistently attracted four to six times the number of viewers compared to the equivalent static posters. In addition, the exposure time was substantially longer, with viewers spending 50% longer (2.0 seconds vs. 1.6 seconds) looking at dynamic signs vs. static screens.2
(2. “A Report on a Field Trial of Anonymous Video Analytics (AVA) in Digital Signage.” Intel. http://www.intel.com/content/www/us/en/retail/digital-signage-core-ava-field-trial-paper. html. March 2011.)
Player hardware for a digital signage system purchased in 2013 is one-tenth the size it was a year ago, leading to lower costs.6 Overall costs for a 100-node digital signage network dropped 56 percent from 2004 to 2010, according to Wirespring Technologies7 and has continued to decrease since this report was published.
According to Precision Marketing co-author Sandra Zoratti, 50 percent of consumers disengage with brands because of irrelevance. However, when marketers take steps to target the right customers and be relevant to them, they see an average 2X return — as measured in response, revenue, or ROI.9
The same electronic educational content you develop for customers can be used to train employees — using the employees’ mobile devices — for additional cost savings. More importantly, having knowledgeable sales associates can increase customer satisfaction. In Motorola Solutions’ 2012 Holiday Shopping Study,11 nearly half of Gen Y surveyed shoppers felt better connected to product information than sales associates. Even among less tech-savvy Baby Boomers, one-third felt better connected than sales associates. Yet Boomers are four times more likely to increase their spending as the result of a helpful associate than by using selfservice technology, according to the study.
(Taking BYOD to the Next Level: Leveraging Customers’ Mobile Devices to Increase Loyalty and Drive Sales WHITE PAPER – February 2013)
More companies are embracing the cost-effective opportunities offered by new dynamic advertising technology. Companies with digital signage are more likely to get customers in the store, direct them to more areas of the store and increase customer time in the store. Multiple studies prove the strong ROI and ROO of digital signage systems.
In 2010, Nielson tracked digital signage use in 120 grocery stores over time and found that 4 out 5 brands experienced increases of up to 33% in additional sales compared to when using printed signage alone(5). Also, 68% of customers agreed that digital signage would “influence their decision to buy the advertised product in the future” and 44% agreed it would “influence them to buy the advertised product instead of one they planned to buy.”(6)
With digital signage, messages can be changed on demand with very low cost (unlike printed signage), so companies can speak directly to their customer with the right message, in the right place and at the right time. Companies can switch menu items and products according to the time of day, season or available inventory with ease. They can also showcase more products and information than ever before with multiple features in a slideshow format, and enhance the in-store experience by engaging customers and creating dynamic interior decor.
70% of US residents 12 and older have seen a digital video display in a public venue in the past month, 52% recall seeing one in the last week.
Digital video in public venues reaches more Americans each month (70%) than video over the internet (43%) or Facebook (41%)
The top 5 places consumers with are grocery stores (28% of the US population 12 and older), Shopping malls (27%), large retail or department stores (20%), medical offices (20%) and movie theatres (19%).
Viewers are engaged with the content; nearly half (47%) of those who have seen a digital place-based video in the past month specifically recall seeing the ad.
Digital Video ads have an effect on purchase patterns. Nearly one in five (19%) of those who have seen a digital video ad said the made an unplanned purchase after seeing an item featured on the screen.
The global digital signage market was valued at $14.63billion in 2014 and is expected to reach$23.76billion by 2020, at a CAGR of 8.18% between 2015 and 2020. In terms of geography, North America accounted for the major market share of ~34% in 2014, followed by Europe with ~29%. APAC is projected to grow at the highest CAGR of 9.34% between 2015 and 2020.
Four out of five product brands experienced significant increases of up to 33 percent in additional sales through the use of DOOH media.
At the same time, display screen advertising at the POS considerably increased brand awareness: While previous studies on the effectiveness of POS advertising media showed only a slight increase in brand awareness (unprompted), the in-store TV tested here yielded a remarkable increase in awareness and recall rates of up to 14 percent (unprompted) and 31 percent (prompted).
Conscious awareness of digital display screens is generally high, according to the Nielsen study. Roughly three quarters of those surveyed (74 percent) noticed the monitors at the POS. The awareness rate for DOOH media is thus 23 percent higher than the average benchmark of other POS media analyses. In-store TV also gets good marks when it comes to acceptance: Display screen advertising and infotainment while shopping were well received by 62 percent of consumers.
Digital Signage is becoming a reputable marketing resource as technology advances continue to improve capabilities. Despite businesses in the past being hesitant to incorporate signage into their marketing strategy, forward thinking corporates are now ceasing the opportunity to attract attention, leverage up-sells and influence purchase decisions. We take a look at statistics from the digital world to gain an understanding of what is driving implementation.
1. Over a quarter of organisations deem ‘multichannel campaign management’ as one of their top priorities Digital signage forms part of the multichannel marketing strategy, acting as a canvas for unlimited marketing content, campaigns and promotions. It bridges the gap between virtual and physical by offering a complete online product catalogue in store, providing a seamless experience across multiple channels.
2. 63% of people report that digital signage catches their attention.
This percentage is significantly higher than TV, Internet and billboard advertising. Retailers are choosing digital signage due to its low cost and flexibility but high impact is the key advantage.
3. 84% of UK retailers believe digital signage creates significant brand awareness
Digital signage is essentially the ‘face’ of a store, it familiarises the target audience with the brand and ultimately makes the company more recognisable. With dynamic signs reinforcing brand messages through an immersive experience, retailers are eager to use signage to fully optimise communication with their customers.
4. Digital video in general reaches 70% of the public
It is evident that digital signage provides relevant content and drives customer engagement but the magnitude of its reach is what rivals other channels. Compared with Facebook and online video platforms, which reach less than 45%, retailers are using video signage to expose a larger audience to their marketing messages.
5. If given a choice, 42% of retail video viewers would prefer to shop at stores that have video displays
With 4k Ultra HD drastically improving the visuals on a video wall, retailers are increasingly turning to displays as a low cost way of informing and entertaining customers. The realistic simulation and impact of video walls adds to their effectiveness by engaging users with their environments. Successful applications in various industries are giving retailers insight into how and where this format should be used.
6. Digital Signage reduces perceived waiting times at checkout by as much as 35%
Digital signage solves the problem of unpredictable waiting times and long queues in store. Simply connecting with internal queue management systems it offers a more efficient and professional treatment to the customer, optimising the waiting experience.
7. 29.5% of customers find digital menus influential for purchase of product
Vibrant and eye-catching digital menu displays have come reta long way from traditional, unresponsive, static food boards. Restaurants, mainly in the fast food industry, can now automatically show the right offer, at the right price, at the right time, at the right place.
8. Half of the top 100 retailers in the US are testing beacons this year
Beacon technology is driving digital signage with its capability to push personalised messages to customers’ smartphones. This fine-grained location service technology is used in conjunction with current smartphone apps, pushing promotions, offers or essential marketing messages straight into the hands of new or returning customers.
9. Over 60% of buying decisions are made at the Point of Sale
Digital signage gives customers the chance to compare products. Stores can embrace rather than fear the growing retail trend of ‘showrooming’, increasing their chance of keeping buyers in-location to make their purchase with content that creates experience and emotion.
10. Digital Signage adds an upswing in overall sales volume by 31.8%
Being forced to stand in long queues, search for products, verify prices and check merchandise availability frustrates customers. There is therefore a huge sales potential for companies to capture lost opportunities by making the shopping experience more efficient and satisfying. Digital Signage creates an immersive in-store experience, maximising cross-sells, upsells and impulse buys by quickly adapting and deploying content in real time.