With an ever increasing number of competitors in established markets, corporate branding can have a big impact on overall sales. Branding not only impacts a corporations bottom line, it also influences purchasing decisions, the overall price consumers are willing to pay and brand loyalty.
To learn more about the basic concepts involved in corporate branding check out the corporate branding infographic at the bottom of this article.
Impact of Social Media
With the rise of social media and sites such as Facebook and Twitter, and their impact on consumer behavior, corporations have developed new ways to strengthen their brand.
This shift is very apparent when you look at the changes in how corporations are allocating their marketing budgets.
Power of Consumer Sentiment
With the influence of reviews on consumer purchasing decisions, corporations can no longer focus on broadcasting a message to build their brand. These days, corporations are adopting digital marketing strategies focused on influencing consumer sentiment and building communities of brand champions.
Instead of pushing messages to consumers through traditional mediums such as television and magazine ads, brands are leveraging the power of consumer reviews and recommendations.
With reviews from friends being the most influential factor in purchasing decisions among consumers using social media, it is no wonder that corporations are rapidly adopting their strategies to capitalize on these changes in how consumers make purchasing decisions.
Inbound and Content Marketing
If you look at the data on corporate marketing budgets you will notice an increased investment in inbound marketing strategies. Among the leading inbound marketing strategies, content marketing is by far one of the most popular choices.
Why Content Marketing
Over the last few years, content marketing has proven to be a highly effective approach to strengthening corporate branding. By providing a regular supply of valuable and engage content that is relevant to the interests of consumers, brands are able to do more than just build an image. Companies are able to build brand equity directly with consumers. In return, many consumers become brand champions, actively advocating their favorite brands to friends and family on social media sites like Facebook.
Based on data released over the last few years, we know that one of the most effective way to influence the purchasing decisions of consumers who use social media is to get their friends to share positive reviews.
B2C and B2B
The evolution of corporate branding strategies is not confined to just products and services that fall under a business to consumer (B2C) designation. If you look at the data, companies are investing in business to business (B2B) strategies to market their content and build their brand.
As corporations turn to social media to improve the return on investment, or ROI, of their investment in brand building, new and innovative digital strategies will continue to evolve. With this year projected to be the largest investment in online marketing to date by the corporate world, it will be interesting to not only see the strategies that turn out to be most effective but what brands end up on top.