Author’s note: Last week we spoke about what brand communications has become – when the internet changed the game. For a more comprehensive recap, here’s Part 2 of the series.
In many ways, we are living in the future through revolutionary prospects that leaders in the forefront of technology are promising. No sooner do marketers learn the trends, that newer ones are ready to take their place. Aside from being creative, marketing professionals are required to stay at the top of things – which can be challenging. As we reach the concluding segment, this article aims to navigate the way forward for brand communications. Although getting through to the consumer of today appears like a complex web, being attentive and sensitive to the changes gives a competitive advantage to marketers.
The Google people had this to say about the next decade in marketing:
Keeping Up with Changing Consumer Expectations
There is no denying that the times are a-changing, and whether you like it or not, these changes are destined to become a part of your social structure. To keep up with these rapid changes, brands will have to come up with a strategy incorporating the following ingredients:
- Relevance: One might argue, that with consumers hopping through brands at the convenience of a mere scroll, chasing their loyalty or trust for a brand seems like a vain pursuit. Contrarily, when brands manage to establish themselves as trustworthy and reliable the journey ahead becomes much easier. You must have observed this for yourself – when you shop online, you pay attention to the brand you are buying from. This is because a strong brand presence mitigates the risk of purchasing the wrong product.
- Sentiment: In the world of instant gratification, it is difficult to move past the number of clicks and followers on your social media account. However, marketers have to take a step further than relying on just these superficial metrics. To build favourable brand equity over time, not only does the conversation online have to be free-flowing but the customer perception of the brand needs to be gauged. Gone are the days of the quarterly performance results. In these change-driven times, even a week is too long a wait. Fortunately, several contemporary marketing analytics metrics provide the brand communication performance data in real-time.
- The 4 Es: When the world has learned to adapt to the electronic revolution, marketing needed to revamp its guidelines to better keep track of the pivot. In keeping with the times, the 4 Ps of marketing have changed to the 4 Es designed for better customer valuation: –
- Experience: Brands today don’t merely sell products, but aim to provide an unmatched experience to their customers.
- Everyplace: Brands need to update their online presence and ensure that their customer journey remains seamless on all platforms whether it is their website or their social media channels.
- Exchange: In exchange for the money that the consumer pays, they don’t merely seek the product but also the added value it offers. For instance, whether it is sustainable or organic, etc.
- Evangelism: By ensuring a great brand experience businesses have the opportunity of making their customers their best influencers. With the advent of social media, a global stage has been set and consumers are capable of driving the online brand conversation solely based on their experience.
The Tools of the Future
Saying it once isn’t enough: We are living in the future. Don’t believe me? The most influential and awaited platform has already started to lay the foundation of a new form of marketing through the metaverse. While the conclusion of the debate of whether the meta will live up to its hype is yet to be drawn, businesses are already taking their chances with this latest entrant. The metaverse promises more “immersive experiences” through holograms and developments in AR and VR content. To know a bit more about what NAVIC thinks about the Metaverse and the roles brand can play, click here
While there may be several reasons why brands are wanting their way into these new developments, the most crucial objective is to find a way to grab the attention of the newer generations who have grown up with technology. With growing engagement, the road ahead in the metaverse seems promising for the brands.
In closing, this three-part series endeavoured to observe brand communications through the fogging lens of the past, the changing landscape of the present, and the exciting prospects of the future. Most believably, the technology of tomorrow will evolve the craft of brand communication as businesses find their purpose and prepare for the rapid evolution.
Stay curious. Stay secure.
See you in the future, i.e. next week.
The views and opinions published here belong to the author and do not necessarily reflect the views and opinions of the publisher.
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