Whenever entrepreneurs decided to start their companies in the past, one of the first things that they had to do was spend countless hours investigating the current condition of the market by referencing business journals and other tangible evidence. Nowadays, once someone decides to create a start-up, their research tends to boil down to online inquiries. After all, it is hard to think of a successful organization that has not taken the time to establish a positive digital brand. So, why do virtually all large companies invest enormous amounts of capital into building their online presence?
There is no short answer to the aforementioned question as the list of advantages is quite lengthy. Given the rapid and unprecedented rise of the digital age, one could also wonder why any company would not invest in its online image. Some of the most important upsides, however, are mentioned below.
Builds Credibility
According to Forbes Magazine, as many as 82% of people who use smartphones rely on their devices before making an in-store transaction. A typical example would be doing a split-second price comparison between something that one finds at a local Walmart versus the online alternatives offered at Amazon. If a company’s digital brand lacks information or seems to be outdated, however, even those who make in-store purchases could become skeptical.
In case that the main sales channel for a venture is based on e-commerce transactions, having a brand that is either characterized by a lot of negative reviews or lack of data would be even more damning. Just consider, for instance, the last time that you purchased something after seeing that the average product review was very low. Odds are, you have probably not made a lot of such transactions as your perception of the seller was not positive. In other words, they failed to showcase enough credibility, which is invaluable in business.
Attracts New Customers
A positive digital brand, like Fazt Tech, has a good chance of attracting new buyers by creating viral engagement or quickly spreading through the online selling funnels. Having been in the business of supplying companies with high-quality tech solutions for years, Fazt Tech knows the ins and outs of reducing customer acquisition costs. Accordingly, one of the easiest ways to do so is to create a detailed strategy about perpetuating a solid online brand.
A great example would be brands that had viral products and earned unforeseen returns on their investments due to it. This includes everything from IHOP’s temporary, name-changing campaign, which introduced new menu items, as well as Popeye’s viral revealing of a new chicken sandwich that resulted in instantaneous spikes in revenues. If those two brands had no digital presence, however, neither one of the outcomes would have been possible.
Simplifies Marketing
By now, you probably noticed a wide variety of social media promotions that nearly all companies use to get in touch with existing buyers. As frustrating as it may be to see thousands and thousands of ads, there is a reason why brands bother with them. In this case, it is the marketing simplicity that comes along. For instance, when a venture has a solid following and strong social media activity and engagement rates, discovering what their followers like is quite easy.
From there, they can utilize the interests that they derive as a way to get in touch with some buyers. If someone who uses iPhones has a habit of searching for “charging phone cases,” a phone case company may decide to retarget them by sending their current promotions. In many cases, doing something so seemingly simple will result in tremendous gains as additional consumers join the venture, all due to the believable brand image.
Increases the Target Audience
By establishing a positive brand on the internet, the company immediately increases the likelihood of building a strong following. Why does that matter? Because the number of individuals who engage with them represents a potential audience for their marketing campaigns. If someone who buys Apple products enjoys reading Apple’s posts on Facebook, per se, they may become a permanent member of their online customer base.
When the fall season comes around and Apple is about to release a new series of products, they could leverage that base to successfully target millions of people with proven purchase records. Just imagine how expensive and time-consuming it would be to reach those numbers via traditional venues such as paper-based marketing.
Helps Acquire Repeat Customers
According to Fazt Tech, positive brands can secure a high engagement rate with their followers. Doing so is extremely important when it comes to building long-term relationships with buyers. Why? Because it will lead to repeat sales and on-going consumers that help the business make revenue-related predictions accurately. This goes back to the timeless notion that people will seldom change or try to fix something that is not broken. Therefore, if a company’s reputation and service are outstanding, the number of people who will consider switching to some other provider is extremely low.
Makes for Easy Scaling
After converting some sales and reaching the break-even point, which is where the vast majority of companies start, there will come a time when one must scale their business. That means that they need to find more buyers who mimic the characteristics of the ones that liked the good or service thus far. Outside of advanced resources that exist in digital marketing, however, there is no way to expand the client base effectively, cost-efficiently, and rapidly.
So, having an online connection with former buyers will bring down the costs of scaling by a considerable margin. This is due to the fact that marketing campaigns get to grow with very minimal investments, especially after they become optimized. Of course, those who decide to stay outside of the digital age will not get any of the said benefits.
