Brand awareness is crucial because it shows that a brand exists in a customer’s mind. It is a measure of how well a brand is known in its target market. Brands have an increasingly social nature, dependent on relationships to increase, and maintain, their value. This is why social media is such a valuable marketing channel.
What is the Reality of Marketing?
The growth of social media has radically altered the communication landscape. In doing so, it has had a big impact on marketing communications.
“The growing importance of applications such as Twitter, Facebook and YouTube in people’s lives has influenced how they communicate,” observes Jowita Penkala of Uniqua Brand.
“In terms of marketing, people’s brand-related interaction and their exposure to marketing campaigns increasingly takes place through social media channels”
Jowita Penkala, Uniqua Brand
This has transformed consumers from being passive participants to active creators and influencers.
“This is the reality for marketing,” Jowita states. “It presents new opportunities, and challenges, for companies. People rely more than ever on their social networks when making decisions about buying something, or using a particular service.”
What is the Impact of Social Media?
Because social media platforms have an important role in consumer decision-making, applications like Facebook and Twitter have become the key players when it comes to branding activities.
“This has an impact on the value of products, services and brands, because it is no longer simply directed by professional marketing activity, but is co-created through social networks,” Jowita explains.
“Brands are more socially defined“, says Jowita. “This means that it is vital that businesses recognise how social media is a key marketing channel.”
“Social media adds a layer of complexity to brand management because of the greater power consumers possess to influence how brands perform”
Jowita Penkala, Uniqua Brand
There are no longer restrictions on how brands and their customers communicate with each other. The old style of one-way communication based on time, place and choice of medium is disappearing.
“In its place is direct, two-way communication that is interactive,” explains Jowita. “In effect, this allows brands and customers to work together to create new products and services, and values. Using social media, brands can gain exposure and strengthen their relationships with customers.”
Is social media turning customers into intangible assets for businesses to acquire and nurture, and maximise?
“The value of a customer is no longer restricted to the profit they provide from each transaction they make,” concludes Jowita. “Instead, businesses should look at the total profit arising from the customer’s relationship with them”.
To discover how to turn your customers into assets for your brand, please contact Uniqua Brand on 0113 252 0797 or visit uniquabrand.co.uk