By Rajat Abbi
Launching a new brand in today’s highly volatile and competitive market calls for more than just innovative strategies that appeal to stakeholders and consumers alike. In the digital age, where customers have access to a wide array of products and services at their fingertips, it’s crucial to listen to their needs, engage directly with them, and innovate to deliver simple and rapid solutions. Authenticity and creating the right IMPACT is critical!
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A successful brand strategy is the strategic roadmap that guides the brand launch and furthers its growth. Therefore, it is imperative for companies to clearly outline the objectives, target audience and market, value proposition, differentiation and messaging for a successful launch. They also need to ensure that this approach integrates seamlessly with the broader business objectives.
Having an integrated marketing strategy is crucial, encompassing above-the-line (ATL), below-the-line (BTL), and digital activations to ensure maximum exposure and engagement. Marketers should ensure all efforts work harmoniously, amplifying impact. By adopting a cohesive approach, brands can effectively maximize engagement and achieve a successful launch.
Adding digital marketing to the mix
A well-thought-out digital marketing strategy is critical for marketers to customize their marketing messages to meet specific needs of the target audience. Through various touchpoints such as social media campaigns, search engine optimization (SEO), search engine marketing (SEM), email marketing, performance marketing and other digital touchpoints, companies can create awareness and generate interest among potential customers. This includes the ability to offer real-time analytics, allowing brands to measure the success of their campaigns and adjust tactics as needed to maximize engagement and conversion rates. By adopting such strategies, brands can not only improve client communication and engagement, but also increase their lead quality and quantity.
Customer-centric approach
A customer-centric approach involves listening to stakeholders, acting as trusted advisors in collaboration, offering quick but relevant answers, and spearheading product development to generate solid relationships. Marketers need to be aware about the specific needs of their target audience and what is needed to make a deep impact to meet the expectations of customers.
Errors such as ignoring customer feedback and maintaining an overly rigid stance can impede the brand’s ability to adapt to shifting consumer needs and market developments. Therefore, to ensure the brand remains relevant and responsive, it is crucial to consistently seek and act upon customer feedback.
Strategic marketing initiatives in the digital age
Conversion rates and customer experiences can be significantly enhanced by implementing strategic marketing initiatives such as customer data platforms (CDP), account-based marketing, influencer marketing, performance marketing and the use of latest digital tools & technologies including AI. These approaches leverage digital platforms and resources to effectively reach and engage consumers.
Account-based marketing focuses on personalized campaigns targeting specific accounts, thereby increasing engagement and conversion rates. Customer data platforms collects and unifies first-party customer data from multiple sources to build a single, coherent, complete view of each customer. It then makes that data available to marketers to create targeted and personalized marketing campaigns. Social media marketing enables reaching customers across various social platforms, enhancing brand exposure and fostering community involvement. Influencer marketing utilizes the credibility and reach of influencers to raise brand awareness amongst their followers.
Further, market research can enable marketers gather valuable insights into consumer behaviour, tastes, and trends, which helps guide strategic choices. Augmented reality can help in gaining customer engagement and satisfaction through interactive and immersive experiences.
The successful launch of a new brand in the digital era hinges on the fusion of integrated marketing, customer-centricity, and stakeholder trust. Brands can effectively navigate the complexities of the market and establish a unique presence by listening, collaborating, and innovating. Going forward, a brand’s success and growth will depend on its continuous alignment with the needs and expectations of its stakeholders. A strong product alone won’t guarantee success; it’s also essential to satisfy customer needs precisely, utilize digital tools and platforms, and remain flexible to adapt to shifting market conditions. By understanding digital marketing nuances, addressing common pitfalls, and embracing a holistic, customer-focused approach, brands can achieve sustainable success in the competitive digital era.
The author is Vice President – Global Marketing & Chief Marketing Officer, Greater India, Schneider Electric. (Views expressed are the author’s own and not necessarily those of financialexpress.com)
